Tata Steel Share Price Update
Tata Steel Limited has again captured investor interest following its recent second-quarter results. As of Monday, October 11, the stock was trading at Rs 146.25, reflecting a slight decline of 0.89%.
Company’s Second Quarter Results
Tata Steel reported a net profit of Rs 758.84 crore for the second quarter, a significant recovery from a net loss of Rs 6,511.16 crore in the same period last year. The company’s total income slightly increased to Rs 55,910.16 crore, while annual expenses decreased from Rs 55,853.35 crore to Rs 52,331.58 crore year-on-year.
Brokerage Ratings
Both JPMorgan and Morgan Stanley have issued overweight ratings for Tata Steel. JPMorgan set a target price of Rs 180, predicting a potential increase of 22%, while Morgan Stanley suggested a target of Rs 175.
Current Stock Performance
The stock has seen a 52-week high of Rs 184.60 and a low of Rs 118.55. Over the past month, Tata Steel shares have declined by 8.97%, while still providing a robust 20.87% return over the last year.
Disclaimer
Investing in the stock market involves risks. Always consult a financial advisor before making investment decisions.
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Summary at glance
Tata Steel shares have drawn investor attention following the company’s second quarter results, with stock trading at Rs 146.25, down 0.89% on October 11. The company reported a net profit of Rs 758.84 crore, a significant recovery from a net loss of Rs 6,511.16 crore in the same quarter last year. Both JPMorgan and Morgan Stanley have issued overweight ratings, with target prices of Rs 180 and Rs 175, respectively.
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