Tata Shares: “Tata’s Leap: ₹150 Target? “Post-NCLT, Grab or Pass?
Tata Stocks Surge
Rocket Ride
Tata Group’s stocks were like fireworks in Wednesday’s roller-coaster market. Specifically, Tata Steel’s shares shot up by over 2%. Amidst the trading day’s highs and lows, the shares touched Rs 146 and wrapped up at Rs 143.85, marking a 1.99% increase. Reflecting on their journey, the shares had a notable moment on February 7, reaching Rs 147.35, and faced a trough in March 2023 at Rs 101.65, showcasing their year’s volatility.
Why the Hype?
The buzz is all thanks to a significant nod from the NCLT. Tata Steel’s decision to cancel the merger with TRF Limited got the green light, sparking interest. On February 7, the board had a rethink about merging with TRF Limited due to shifts in business performance. The Mumbai Bench of the National Company Law Tribunal (NCLT) sanctioned this move on February 8, 2024, through its order.
Big Moves
Previously, Tata Steel was on a mission to consolidate its empire, aiming to merge nine strategic businesses, including Tata Steel Long Products and others, under its giant umbrella. This strategic shuffle has kept investors on their toes.
Price Goals
Axis Securities recently pegged Tata Steel with a target price, eyeing Rs 150. Although Tata Steel’s shares have been flirting with this figure for some time, it remains a figure of anticipation.
Note to Readers:
This article is purely informational and not a nudge to invest. Always do your homework before making investment decisions.
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