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Economic Times
a day ago
- Business
- Economic Times
Tata Steel shares rally 5.5% in 2 days on China-fueled metals rally, upbeat UK business outlook
Shares of Tata Steel climbed as much as 1.7% on Thursday, extending a two-day rally to 5.5%, buoyed by firm global cues, a rebound in metal prices, and optimism surrounding the company's UK operations. ADVERTISEMENT The stock has surged over 7% in the past week and is up 21% in the last six months, even as it remains 4% lower on a one-year basis. Tata Steel shares rose over 3% on Wednesday, tracking a broader uptrend in global steel futures after improved factory data from China signaled a recovery in manufacturing output. That rally continued on Thursday as the stock touched an intraday high on the BSE. Wednesday's gains came after China's factory activity returned to expansion in June. Official PMI and Caixin PMI both showed the highest output readings since November 2024. This lifted global sentiment, with the most-traded September iron ore contract on China's Dalian Commodity Exchange rising 1.69% to 722.5 yuan ($100.81) per metric benchmark August contract on the Singapore Exchange rose 1.82% to $94.9 a ton. Steel futures on the Shanghai Futures Exchange also advanced, with rebar gaining 2.61%, hot-rolled coil up 2.24%, wire rod rising 1.03%, and stainless steel climbing 1.08%. Other Indian metal stocks also advanced on Thursday, buoyed by positive global cues. The Nifty Metal Index rose 0.8%, with NMDC, NALCO, Hindalco, and Jindal Stainless gaining between 1% and 2%. ADVERTISEMENT Investor sentiment was further lifted by comments from Tata Group Chairman Natarajan Chandrasekaran at the company's annual general meeting. Addressing shareholder queries, Chandrasekaran said Tata Steel's UK operations are expected to perform 'much better this year compared to last year — it will definitely be Ebitda-positive.' ADVERTISEMENT The company's UK business, which has historically weighed on profitability, is now expected to turn Ebitda-positive in the financial year 2025–26 (FY26), with potential for profitability in subsequent Steel's technical indicators continue to signal bullish momentum. The stock is trading above all eight of its key simple moving averages, from the 5-day to the 200-day, pointing to sustained strength across short-term to long-term charts. ADVERTISEMENT The Relative Strength Index (RSI) stands at 69.8, just shy of the overbought threshold of 70, suggesting strong buying interest. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 1.9 and remains above both the center and signal lines, reinforcing the ongoing bullish Steel shares have gained 8% over the past three months and 5% in the last month. ADVERTISEMENT Also read | Tata Steel gets show cause notice over input tax credit of Rs 1,000 cr availed during FY19-23 (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
a day ago
- Business
- Time of India
Tata Steel shares rally 5.5% in 2 days on China-fueled metals rally, upbeat UK business outlook
Live Events UK operations expected to turn around Technicals point to strength (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Tata Steel climbed as much as 1.7% on Thursday, extending a two-day rally to 5.5%, buoyed by firm global cues, a rebound in metal prices, and optimism surrounding the company's UK operations The stock has surged over 7% in the past week and is up 21% in the last six months, even as it remains 4% lower on a one-year basis. Tata Steel shares rose over 3% on Wednesday, tracking a broader uptrend in global steel futures after improved factory data from China signaled a recovery in manufacturing output. That rally continued on Thursday as the stock touched an intraday high on the gains came after China's factory activity returned to expansion in June. Official PMI and Caixin PMI both showed the highest output readings since November 2024. This lifted global sentiment, with the most-traded September iron ore contract on China's Dalian Commodity Exchange rising 1.69% to 722.5 yuan ($100.81) per metric benchmark August contract on the Singapore Exchange rose 1.82% to $94.9 a ton. Steel futures on the Shanghai Futures Exchange also advanced, with rebar gaining 2.61%, hot-rolled coil up 2.24%, wire rod rising 1.03%, and stainless steel climbing 1.08%.Other Indian metal stocks also advanced on Thursday, buoyed by positive global cues. The Nifty Metal Index rose 0.8%, with NMDC, NALCO, Hindalco, and Jindal Stainless gaining between 1% and 2%.Investor sentiment was further lifted by comments from Tata Group Chairman Natarajan Chandrasekaran at the company's annual general meeting. Addressing shareholder queries, Chandrasekaran said Tata Steel's UK operations are expected to perform 'much better this year compared to last year — it will definitely be Ebitda-positive.'The company's UK business, which has historically weighed on profitability, is now expected to turn Ebitda-positive in the financial year 2025–26 (FY26), with potential for profitability in subsequent Steel's technical indicators continue to signal bullish momentum. The stock is trading above all eight of its key simple moving averages, from the 5-day to the 200-day, pointing to sustained strength across short-term to long-term Relative Strength Index (RSI) stands at 69.8, just shy of the overbought threshold of 70, suggesting strong buying interest. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 1.9 and remains above both the center and signal lines, reinforcing the ongoing bullish Steel shares have gained 8% over the past three months and 5% in the last month.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
2 days ago
- Business
- Mint
Best stocks to buy today, 3 July, recommended by NeoTrader's Raja Venkatraman
The market caught a fever as the Trump effect dominated the proceedings, thus causing some turbulence. As trends try to make their way ahead, the damage control required by market participants is quite demanding. Here are two stocks to buy or sell as recommended by NeoTrader's Raja Venkatraman for today: GODREJAGRO: Buy CMP and on dips to ₹783 | Stop ₹773 | Target ₹875-895 HEIDELBERG: Buy CMP and dips to 205 | Stop 202 | Target 240-255 Market update On 3 July 2025, Indian equity markets staged a modest rebound following the previous session's decline, with the Nifty 50 closing at 25,580.65, up 0.50%, and the Sensex reclaiming ground to end at 84,032, rising 0.75%. The recovery was led by broad-based buying across key sectors, particularly metals, auto, and FMCG, which helped offset continued weakness in financials and realty. Tata Steel and JSW Steel extended their gains, buoyed by firm global commodity cues and expectations of improved domestic demand. Maruti Suzuki and Asian Paints also contributed to the upside, reflecting resilience in consumption-linked counters. However, banking stocks remained subdued, with IndusInd Bank and HDFC Life continuing to face selling pressure amid concerns over margin compression and regulatory headwinds. The Nifty Metal Index surged over 1.5%, while auto and FMCG indices added close to 1% each. On the flip side, PSU banks and realty stocks lagged, reflecting cautious sentiment ahead of upcoming macroeconomic data releases. Also Read: Have ₹10,000 to invest? Here are four stocks to explore for the long term. Market breadth improved slightly, with midcap and smallcap indices recovering 0.3%, signalling selective buying interest. Overall, the session reflected a buy-on-dips approach, with traders eyeing a potential breakout above the 25,600-25,700 resistance zone in the coming days. Outlook for trading Currently, the market is stressed at higher levels as there are no encouraging triggers that can help the markets move confidently higher. The constant lack of participation highlights that the trends are getting tired. With the constant geopolitical tensions emanating since April began, the possibility of continued volatility is very much on the cards. At the moment, no cues are emerging that can help give us a hint of the near-term volatility that one can expect. In the last article, we highlighted the importance of the 25,500 zone. The range is getting tighter, and the readings from the Option Data suggest that PCR has moved to 0.62 once again, highlighting that the trends are witnessing a sell-off at every rise. We observe that the Call Writing has shifted lower now to 25500. With notable Put writing seen at 25000 post 25400, we are now at an important point for the days ahead. Despite the best intentions, the market is unable to conjure up enough strength to continue its upward march. With the 25,365 zone, which is the monthly TC Pivot level being held, we can expect a revival in momentum to rise as long as this level is not violated. The steady attempt to buy on every dip has once again given people a reason to hold on to the bullish side of the markets for now. With no clarity on the future course of action, we should be looking at participating with a neutral bias. Trends continue to remain two-phased and require us to balance both sides of the trend. Hence, the situation demands a pragmatic approach to benefit from market participation. Also Read: Torrent Pharma bet big on JB Chemicals, but can the acquisition deliver? Results season is about to get underway, but the global impact of the worrying macro factors driving up the volatility, we need to see how to navigate the current trends. While market continues to offer umpteen opportunities sector rotation will be at work and hence, we have selected candidates that are displaying steady action from both sides until new signals to the contrary emerge. Two stocks to trade, recommended by NeoTrader's Raja Venkatraman: Godrej Agrovet Ltd (Cmp 803.85) Why it's recommended: Last quarter Godrej Agrovet demonstrated a mixed performance as it faced margin pressures due to fluctuating raw material costs, heightened competition in the infrastructure sector, and demand volatility in real estate. After enduring these challenges, the volumes began to pick up in the last few weeks to show some strong showing in the last few days. A strong closing on Wednesday augurs a BUY. Key metrics: P/E: 29.86 | 52-week high: ₹877.85 | Volume: 539.44K. Technical analysis: Support at ₹725, resistance at ₹950. Risk factors: Input cost inflation, particularly impacting soybean prices, and challenges in its subsidiary. Buy: CMP and dips to ₹783. Target price: ₹875-895 in 1 month. Stop loss: ₹773. Also Read: Zomato stock rebounds 30%—but is the rally built to last? Heidelbergcement India Ltd (Cmp 214.54) Why it's recommended: Heidelberg remains a key player from the midcap space in cement industry, benefiting from increasing data consumption and strong subscriber additions. After being in a range for more than five months the stock has given a strong breakout above key resistance zones around 204, with volumes signalling strong bullish interest. Key metrics: P/E: 45.54 | 52-week high: ₹258 | Volume: 860.34 K Technical analysis: Support at ₹186, resistance at ₹222. Risk factors: Poor long-term growth and underperformance in the market. Buy: CMP and dips to ₹205. Target price: ₹240-255 in 1 month. Stop loss: ₹202. Raja Venkatraman is the co-founder of NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
2 days ago
- Business
- Economic Times
Tata Steel shares surge over 3% as global steel futures rally on China demand rebound
Global cues lift metals Live Events Tata Steel's technical outlook strong (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Tata Steel climbed as much as 3.5% on Wednesday to Rs 165.60 on the BSE , tracking a broader uptrend in metal stocks as global steel futures rebounded on signs of recovery in China 's manufacturing output and demand from Western rally in Tata Steel came amid strong gains in the Nifty Metal Index, which rose 1.1% intraday and outperformed the broader market. The index tracked global steel futures higher following signs of recovery in China's manufacturing output and improved demand from Western economies, adding to bullish sentiment. Tata Steel shares have risen 6.5% over the past week and are up 2.4% in the last month. The stock has advanced 7.7% in the past three months and 20.6% in the last six months. However, over the past one year, the stock remains down 5.3%.The gains in Tata Steel and other metal counters came on the back of a rebound in global steel and iron ore prices, driven by improved factory data from factory activity returned to expansion in June, with both official PMI and Caixin PMI data showing the highest output reading since November 2024. In response, the most-traded September iron ore contract on China's Dalian Commodity Exchange rose 1.69% to 722.5 yuan ($100.81) a metric ton. The benchmark August iron ore contract on the Singapore Exchange was up 1.82% at $94.9 a ton as of 0806 benchmarks on the Shanghai Futures Exchange also rallied. Rebar gained 2.61%, hot-rolled coil rose 2.24%, wire rod climbed 1.03%, and stainless steel added 1.08%.Other Indian metal stocks participated in the rally. Among the top gainers, Welspun Corp surged 3.6%, National Aluminium Company (NALCO) advanced 2.11%, Hindalco gained 0.79%, and Vedanta rose 0.77%.Tata Steel's technical indicators reflect bullish momentum across timeframes. The stock is currently trading above all eight of its key simple moving averages, the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs, indicating bullish undertones in the short-term to long-term Relative Strength Index (RSI) for Tata Steel stands at 60.7, indicating neutral-to-positive momentum, well within the typical range, as readings below 30 signal oversold conditions and above 70 indicate overbought the Moving Average Convergence Divergence (MACD) is at 1.3 and remains above both the center and signal lines, reinforcing the stock's ongoing bullish trend.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
2 days ago
- Business
- Time of India
Tata Steel shares surge over 3% as global steel futures rally on China demand rebound
Shares of Tata Steel climbed as much as 3.5% on Wednesday to Rs 165.60 on the BSE , tracking a broader uptrend in metal stocks as global steel futures rebounded on signs of recovery in China 's manufacturing output and demand from Western economies. The rally in Tata Steel came amid strong gains in the Nifty Metal Index, which rose 1.1% intraday and outperformed the broader market. The index tracked global steel futures higher following signs of recovery in China's manufacturing output and improved demand from Western economies, adding to bullish sentiment. Tata Steel shares have risen 6.5% over the past week and are up 2.4% in the last month. The stock has advanced 7.7% in the past three months and 20.6% in the last six months. However, over the past one year, the stock remains down 5.3%. Global cues lift metals The gains in Tata Steel and other metal counters came on the back of a rebound in global steel and iron ore prices, driven by improved factory data from China. Live Events China's factory activity returned to expansion in June, with both official PMI and Caixin PMI data showing the highest output reading since November 2024. In response, the most-traded September iron ore contract on China's Dalian Commodity Exchange rose 1.69% to 722.5 yuan ($100.81) a metric ton. The benchmark August iron ore contract on the Singapore Exchange was up 1.82% at $94.9 a ton as of 0806 GMT. Steel benchmarks on the Shanghai Futures Exchange also rallied. Rebar gained 2.61%, hot-rolled coil rose 2.24%, wire rod climbed 1.03%, and stainless steel added 1.08%. Other Indian metal stocks participated in the rally. Among the top gainers, Welspun Corp surged 3.6%, National Aluminium Company (NALCO) advanced 2.11%, Hindalco gained 0.79%, and Vedanta rose 0.77%. Tata Steel's technical outlook strong Tata Steel's technical indicators reflect bullish momentum across timeframes. The stock is currently trading above all eight of its key simple moving averages, the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs, indicating bullish undertones in the short-term to long-term charts. The Relative Strength Index (RSI) for Tata Steel stands at 60.7, indicating neutral-to-positive momentum, well within the typical range, as readings below 30 signal oversold conditions and above 70 indicate overbought levels. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 1.3 and remains above both the center and signal lines, reinforcing the stock's ongoing bullish trend. Also read | Tata Steel gets show cause notice over input tax credit of Rs 1,000 cr availed during FY19-23 ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
