Tata Steel shares have been creating quite a buzz in the past few days. Shares of the company have gone up close to 5% in the past five sessions. The stock was trading 0.22% higher to continue its four-day gaining streak.
The Investment: If you had invested ₹10,000 in Tata Steel a year ago, you would have bought approximately 111 shares. With the current market price at ₹114, your investment would now be worth approximately ₹12,643.84. That’s a substantial return of over 26% in just one year. However, it is still less than the return of other Tata Group stocks such as Titan and Tata Motors.
Background: Talking about the company’s financials, the steel giant saw its consolidated revenue from operations go down 9.2% year-over-year to ₹62,961.54 crore in the March quarter. The drop in revenue was partly because of the slowdown in the European markets. The company's Europe business saw revenue slump 16.5% YoY to ₹22,036.15 crore.
See Also: Reliance Jio Trumps Bharti Airtel In Revenue Market Share
Profit also slumped 84% YoY to ₹1,566 crore. However, the company still managed to beat street estimates, as many analysts expected the company to report an over 90% drop in profits at around ₹1,000 crore. The company also declared a ₹3.60/share dividend.
The Tata Group company's Q4 numbers garnered a largely positive reaction from analysts. Here are the recent analyst calls on the stock after its Q4 earnings
Analysts | Rating | Price Target |
JP Morgan | Overweight | ₹150 |
CLSA | Outperform | ₹125 |
Morgan Stanley | Equalweight | ₹110 |
ICICI Direct | Buy | ₹130 |
BOB Capital Markets | Buy | ₹140 |
Price Action: Tata Steel's share price was up 0.04% to trade at ₹113.85 on Thursday afternoon.
Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.
Read Next: Tata May Make Fresh Bid To Buy Stake In This Mutual Fund Manager
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.