look news india
Tata Group Stock: If you are also thinking of betting on Tata Group stock, then this news is for you. Global brokerage JM Financial has recommended a buy rating on Tata Steel shares ahead of its Q2 FY 2024-2025 results. JM Financial has given BUY rating on Tata Steel shares in its report. Its target on Tata shares is Rs 190. The special thing is that on Monday the company's shares fell 2 percent and closed at Rs 158.30.
What is the brokerage's opinion on Tata Steel?
JM Financial said it expects blended returns for the Tata company to decline by Rs 3,000 per tonne on a quarterly basis due to lower flat and longer production costs. Standalone volumes may see growth of 3 percent QoQ to 5.1 million tonnes. September quarter EBITDA/tonne declined sequentially to Rs. 12,000 (down from Rs 2,200). Let us tell you that Tata Steel has not yet announced the date on which it will declare its second quarter (July-September) results. Tata Steel is the largest steel company in the country in terms of domestic production. The market cap of Tata company is Rs 2 lakh crore.
company stock status
Tata Steel stock has given positive returns of 15 percent so far in 2024 and 28 percent in the last one year. The company's share price has increased by 60 percent in the last two years. The dividend yield on each Tata Steel stock is approximately 2.25 percent. According to BSE website, Tata Steel paid a dividend of Rs 3.60 per share in June 2024. Tata Steel gave a dividend of Rs 51 in 2022. Tata Steel split the face value of equity shares in the ratio of 10:1 in July 2022.