JP Morgan Bullish On Tata Steel, Expects 58% Rise, Moody’s Also Positive

New Delhi:- Tata Steel stock is currently looking down 43 percent from its record high. Tata Steel shares were running under pressure for a long time. After the Russo-Ukraine war, the Tata Group’s stock fell further due to the huge volatility in commodity prices. On June 23, this stock touched its record low level. Now recovery from the lower level is visible in it. The trust of brokerage houses has also returned in this stock.

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In the year 2022, the share of this Tata Steel has so far given a loss of 24 percent to the investors. This is the reason that two big brokerage firms of the country have given buy rating to this stock. Currently, this stock is seen down 43 percent from its record high. Tata Steel’s 52 week high is Rs 1,534.50 and 52 week low is Rs 827. Steel prices have come down in the domestic market of India.

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This has affected the stock of Tata Steel. Brokerage house JP Morgan says that there is no possibility of further fall in steel prices in the domestic market. This is because, now there is a good jump in demand in the domestic market. Similarly, another research house Moody’s has raised its outlook on Tata Steel from stable to positive. Which means that the performance of Tata Steel will be better going forward and in the next 12 months, the company’s business will see more strength.

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Priyanka Yadav

An active reader and follower of news. A budding journalist tries to spread authentic news to people.

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