Tata Steel is a reputed steel-making company in India. It has been the biggest steel producer. In this article, I will do a technical analysis of Tata Steel share price target.
What is Tata Steel
Tata Steel is an Indian multinational company making Steel. The company is based in Jamshedpur in Jharkhand and has headquarters in Mumbai Maharashtra. Tata Steel is a part of Tata Group. Tata Steel is recognized as the world’s largest steel-producing company having an annual capacity to produce 34 million tonnes of crude Steel. The operations and commercial presence of Tata Steel are geographically diversified across the world.
The annual turnover recorded by the company in 2020 was $19.7 billion. Tata Steel is the second largest steel-making company in India after the Steel Authority of India Limited (SAIL). The key operations of Tata Steel take place in 26 countries including India, the United Kingdom, the Netherlands, etc.
Tata Steel share price
The current Tata Steel share price is Rs 104.50. The has touched its highest price of Rs 145 in August 2021. Thereafter, the stock has represented a down pattern
Tata Steel share price dividends
The company declares an annual dividend. In 2022, the dividend was Rs 5.10, Rs 2.50 in 2021, Rs 1 in 2020, Rs 1.30 in 2019, Rs 1 in 2018, Rs 0.95 in 2017, and Rs 0.76 in 2016.
Tata Steel share price technical analysis
Since its inception, Tata Steel has represented gradual ups and downs in the price pattern. The stock represented a gradual increase in November 2020 when the price broke the upper trend line.
Similar patterns can be observed in the current price zone. Either the price will move upward and then retrace the upper trend line.
Or it will move towards the lower trendline and then move in the upward direction.
Both conservative and aggressive buyers can buy in small quantities at the current price and wait for the price to come down to the lower trend line.
Tata Steel share price target
Tata Steel share price target 2023
Tata Steel’s share price target for 2023 is estimated to be between Rs 125 to Rs 157.
Tata Steel share price target 2025
Tata Steel’s share price target for 2025 is estimated to be between Rs 310 to Rs 345.
Tata Steel share price target 2030
Tata Steel’s share price target for 2030 is estimated to be between Rs 770 to Rs 810.
What is the future of Tata Steel?
There are certain factors that support the growth of Tata Steel share price in future
1. Market demand: Tata Steel experienced regular purchases of Steel due to an increase in the need for infrastructure development. Various other equipment also require Steel. However, the supply of Steel is less than the demand.
2. Business expansion: The management of the company is making efforts to expand the business outside the country. Other than European countries, there has been an increase in demand for Steel. Tata Steel can grab this opportunity and turn the business into a profitable one and sell all the laws-making assets.
3. Competition from other Steel producers: In India, there are only three top producers of Steel. Considering the global competition, Tata Steel is in a beneficial position because of the decrease in steel production in China. This has resulted in benefits for all the Steel companies in India. This can result in an increase in Tata Steel’s share price.
To conclude, the article presents technical analysis of Tata Steel share price target.
Frequently asked questions
Is Tata Steel a good investment?
Yes, Tata Steel can be a good investment
Which Steel share is best?
Tata Steel Ltd.
Adani Enterprises Ltd.
JSW Steel Ltd.
Steel Authority of India Ltd.
Jindal Steel & Power Ltd.
Can I hold Tata Steel share?
The majority of analysts believe that one should invest in Tata Steel shares because of favorable fundamental as well as technical factors.
Is Tata Steel a dividend stock?
Yes, Tata Steel is a dividend stock. The company has a good dividend track report and has regularly declared dividends in the past few years.
Is Tata Steel bullish or bearish?
Tata Steel represents a bullish pattern because the 200-moving average line is currently at the same price where the stock is trading.
Is Tata Steel a good buy for long term?
Yes, Tata Steel can be a good buy for the long term
Disclaimer: If you want to invest in the stock market, you should consult your financial advisor before making a buying decision. You should assess the risk and study the company details.
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