The Tata Group’s share hit a record high today, the brokerage said – invest money.

New Delhi. Shares of Tata Group company Tata Steel touched an intraday high of Rs 163.70 on Monday. Share prices of the company rose on the first day of the business week today compared to the previous session. Till the time of writing, Tata Steel shares were trading at Rs 162.95 (Tata Steel share price) on NSE, up 4.52%. Brokerage firms Morgan Stanley and Axis Securities have advised investors to invest in Tata Steel shares.

Shares of Tata Steel have gained 56% in the last one year. In the last six months, the stock has given investors a return of 27 percent. So far in the year 2024, Tata Steel’s share price has gained about 17%. The stock is currently trading above its 5, 10, 20, 30, 50 and 100 day moving averages.

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The price of the share may be Rs.185.
According to a report in Business Today, Odhoot Bagkar, Derivatives and Technical Analyst at Stockbox, says Tata Steel shares will go up to Rs 185. Bagkar said, “The stock has recently given a breakout from the high of Rs 147.40. Now the share can go to the level of Rs 175-185. “Until the stock reaches this level, the The stock should remain a buy in the 140-135 zone.”

Bagkar says Tata Steel’s one-year beta is 0.9, indicating low volatility over the period. Similarly, on the technical chart, Tata Steel shares have a relative strength index of 61.6, which indicates that the stock is neither in the overbought zone nor in the oversold zone.

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JP Morgan gave an Overweight rating.
JP Morgan has given Tata Steel shares an Overweight rating and has now increased the target price on the stock. 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 set a target price of Tata Steel Sharer at Rs 167-177 and a stop loss of Rs 143.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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