Tata Steel share price hits 52-week high on £1.25 bln deal with UK government; here's what analysts say4 min read 18 Sep 2023, 11:19 AM IST
Tata Steel UK: Tata Steel's share price reached a 52-week high after announcing a joint agreement with the UK government to invest in steelmaking at the Port Talbot site. Domestic brokerage Nuvama Institutional Equities has a 'buy' rating for Tata Steel stock with a target price of ₹142.
Tata Steel share price touched a new 52-week high on Monday's trading session, following the announcement of a joint agreement between the company and the UK government on a proposal to invest in cutting-edge Electric Arc Furnace steelmaking at the Port Talbot site with a capital cost of £1.25 billion, inclusive of a grant from the UK Government of up to £500 million. Tata Steel stock price touched intraday high of ₹134.85 and low of ₹131.85. Tata Steel share price opened at ₹134.75 apiece on BSE.
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