The stock trades at a P/E of 21.45 with a total market capitalisation of ₹2.37 lakh crore
| Photo Credit:
Shares of Tata Steel closed 1.64 per cent higher at ₹189.99 on Friday, the day after Q1FY27 results were declared, with the stock touching an intraday high of ₹191.84. Traded volume stood at 342.48 lakh shares worth ₹648 crore, with nearly half, 47.3 per cent, resulting in deliveries, suggesting conviction buying. The stock has gained over 20 per cent in the past year against a 1.55 per cent decline in Nifty 50, and is up 4.45 per cent year-to-date versus the index’s 6.74 per cent fall.Morgan Stanley retained its Overweight rating with a target price of ₹235, noting strong domestic steel realisations, but flagging higher operating expenses that largely offset the gains. The brokerage pointed out consolidated EBITDA came in 11 per cent below street consensus, with raw material costs elevated on account of higher coking coal consumption. JPMorgan was more cautious, maintaining a Neutral stance, with a target of ₹214. It described the overall print as largely in-line and said all eyes are now on Europe’s profitability trajectory. The bank expects the stock to move broadly in line with the market and flagged management commentary on the European business outlook as the key monitorable.On the results, Tata Steel reported consolidated EBITDA of ₹9,370 crore for the quarter ended June 30, 2026, up 25 per cent year-on-year. India revenues stood at ₹36,989 crore with EBITDA of ₹9,908 crore and a margin of 27 per cent. The India EBITDA per tonne improved sharply to ₹19,162, up ₹3,255 QoQ. European operations remained a drag, the UK narrowed its EBITDA loss to £27 million from £48 million in Q4, while Netherlands posted near-breakeven EBITDA of €4 million amid the ongoing Direct Sheet Plant shutdown. Net debt rose to ₹84,173 crore with net debt-to-EBITDA at 2.3x.The stock trades at a P/E of 21.45 with a total market capitalisation of ₹2.37 lakh crore. Its 52-week range is ₹152.51 to ₹224.40.Published on July 31, 2026
