Tata Steel shares are in focus on Tuesday after a steady recovery in March-quarter earnings, reigniting bullish sentiment in both fundamental and technical circles.
Consolidated revenue rose to ₹56,218 crore, up from ₹53,648 crore in the December 2024 quarter. Operating profit increased to ₹6,559 crore, maintaining a stable operating margin of 12%.
Net profit jumped to ₹1,201 crore, a sharp improvement from ₹295 crore in Q3 and ₹759 crore in Q2.
The board announced a 131% dividend payout, a strong turnaround from the negative payout in FY24.
On the technical front, SEBI-registered analyst Harika Enjamuri noted that Tata Steel displayed bullish momentum on both daily and weekly charts.
A golden crossover on the daily chart, rising RSI (61.91), and strong volumes suggested upward strength.
In the short term (1–3 days), Tata Steel's price might test ₹155.28 and potentially break through it if trading volume is strong, according to Enjamuri's analysis.
Over the coming weeks, assuming positive market sentiment, Tata Steel could rally towards ₹160–₹169, while ₹144–₹141 will serve as immediate support during pullbacks.
SharesNservices echoed the sentiment, highlighting resistance levels at ₹158–₹160, and a breakout above ₹162 could lead to targets of ₹168, ₹176, ₹182, and even ₹200. Support was seen at ₹120–₹125, indicating limited downside.
Data on Stocktwits shows that retail sentiment is ‘bullish’ on the counter.
Tata Steel shares gained 8% year-to-date (YTD).
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