Daijiworld Media Network – Mumbai

Mumbai, Jul 3: Tata Steel Ltd shares rose nearly 2% on Thursday after the company outlined encouraging operational developments during its Annual General Meeting.

The steel giant reported a 5% year-on-year rise in consolidated deliveries to 30.96 million tonnes (MT) in FY2025, along with mining 40 MT of iron ore in India—bolstering its raw material security. The company also confirmed that its Kalinganagar blast furnace is now fully operational, with plans for a 5 MT capacity expansion.

Tata Steel is eyeing further investment in mining assets to boost capacity. Overseas, it aims for €500 million in cost reductions at its Netherlands operations in FY2026, while UK operations are projected to achieve positive Ebitda the same year.

Despite pressure on steel margins due to high supply, the company expects coal prices to stay range-bound and margins to remain stable.

Tata Steel stock rose as much as 1.75% to Rs 168.7 on the NSE before settling at Rs 166.8, up 0.58%, outperforming the 0.32% gain in the Nifty 50 at 10:21 am.

While the stock has fallen 5.34% over the past year and 20.92% year-to-date, trading volume was 3.5 times higher than the 30-day average, and its Relative Strength Index stood at 64.

Of the 34 analysts tracking the stock, 22 recommend 'buy', while seven suggest 'hold' and five 'sell', according to Bloomberg. The 12-month consensus target is ?164, indicating a 1.9% downside from current levels.