This share of Tata Group reached record high today, brokerage said – invest money

highlights

Tata Steel shares have increased by 56 percent in the last one year.

In the last six months, this stock has given 27 percent return to investors.

Brokerage house JP Morgan has given overweight rating to Tata Steel shares.

New Delhi. Shares of Tata Group company Tata Steel reached its all-time high of Rs 163.70 in intraday today i.e. on Monday. The company's shares opened higher on the first day of the trading week today compared to the previous session. Till the time of writing the news, Tata Steel shares were trading at Rs 162.95 (Tata Steel Share Price) on NSE with a rise of 4.52 percent. Brokerage firms Morgan Stanley and Axis Securities have advised investors to invest money in Tata Steel shares.

Tata Steel shares have increased by 56 percent in the last one year. In the last six months, this stock has given 27 percent return to investors. So far in the year 2024, the share price of Tata Steel has strengthened by about 17 percent. Currently this stock is trading above its 5, 10,20,30,50 and 100 day moving average.

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Share can be worth Rs 185
According to a report in Business Today, Avadhoot Bagkar, derivatives and technical analyst at Stockbox, says that Tata Steel shares will go up to Rs 185. Baghkar said, “This stock has recently given a breakout from its peak level of Rs 147.40. Now this share can go up to the level of Rs 175-185. “Until this stock reaches this level, one should keep buying this stock in the zone of 140-135.”

Bagkar says that the one-year beta of Tata Steel is 0.9 which indicates low volatility in this period. Similarly, on the technical chart, the relative strength index of Tata Steel share is 61.6, which indicates that this share is neither in the overbought zone nor in the oversold zone.

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JP Morgan gave overweight rating
JP Morgan has given overweight rating to Tata Steel share and has now increased the target price of this share. Earlier, JP Morgan had fixed the target price of this share at Rs 150, which has now been increased to Rs 170. Brokerage firm Axis Securities has also advised investors to buy Tata Steel. The brokerage has fixed the target price of Tata Steel Sharer at Rs 167-177 and has kept the stop loss at Rs 143.

(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest money in any of these, then first consult a certified investment advisor. PressNews24 is not responsible for any profit or loss of yours. will be.)

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