On Tuesday, shares of Tata Steel closed 1.03 per cent higher at Rs 170.90 on the BSE. The counter has been a performer over the year, having gained nearly 25 per cent year-to-date.
The brokerage values Jindal Steel at Rs 1,150. It sees JSW Steel at Rs 1,300. The foreign brokerage has a target price of Rs 215 on the Tata group's Tata Steel.
Tata Steel shares: The brokerage said Tata was one of the largest players in India's steel sector.
Tata Steel's Indian operations are expected to maintain strong momentum, while performance in Europe is gradually improving due to restructuring and cost optimisation.
JSW Steel, InCred said, trades at an unjustifiable 4 times FY26F book value, far exceeding any reasonable metric for a cyclical business.
Nomura expects Tata Steel to consolidate its leadership in India over the next few years through capacity expansion, operational efficiency, and sustainability initiatives.
Suzlon Energy, which has 55,69,839 retail investors as of latest disclosures, declined 22 per cent in Samvat 2081. Tata Power has lost 10 per cent while JIO Financial Services Ltd declined 5 per cent in the Hindu calendar.
Shares of Tata Steel hit a record high with the metal stock rising for the third straight session today.
PL Capital expects Tata Steel may face capacity constraints post FY28 if execution speed does not improve, particularly amid robust domestic demand.
MOFSL reiterated a Neutral stance on Tata Steel, citing aggressive Indian capacity expansion, European decarbonisation initiatives, and stable domestic demand.
JM Financial has 'Buy' rating on Tata Steel with a target of Rs 185. It also has 'Buy' on JSW Steel (target price: Rs 1,280) and Jindal Steel (target price: Rs 1,200) and 'Sell on SAIL (target price: Rs 94).





