XTRAS: Tata Steel gives away its 2/3 of the profit for philanthropic works and for the service of people. They also had launched a train called “Lifeline Express” a running hospital, in 1991, that serves the inaccessible regions of India
Technical Analysis
• RSI is 60.90 indicating stock is nearly overbought
• 26-day MACD line is above 9-day signal line indicating a bullish trend.
• From graph it can be observed stock is showing strong support at 1090 price level wherein the stock has shown support multiple times.
• First Resistance can be seen at 1474 price level where price has resisted twice.
• Upper limit of Bollinger band is near current stock price i.e. 1301.
• Lower Limit of Bollinger Band can be seen at support line.
• Currently stock is indicating a bullish rally.
ANALYST VIEW
• Return on Equity has increased versus last 3 years average to 28.50%
• Net Profit is growing at healthy rate in last 3 years 20.27%
• Sales growth is good in last 4 quarters at 66.98%
• Sales growth has been subdued in last 3 years 2.85%
• The Russia Ukraine conflict has provided traction to global metal prices which may impact Tata Steel in coming days.
• During YTD CY22, a healthy rally has been witnessed in both ferrous and non-ferrous metals.
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