India's Tata Steel rises as brokerage bets on strong Q2, firm steel prices

Steel Authority of India

23/09/2026 09:23

** Tata Steel TISC.NS shares rise 3.3% to 191 rupees, hitting their highest level since Aug 6 
** Stock top gainer on the Nifty 50 Index .NSEI
** Motilal Oswal says domestic steel prices have surged sharply, driven by maintenance shutdown-led lean channel inventory, improved consumption, and input cost inflation
** Expects Tata Steel's India business to post strong Q2 earnings; says pricing discipline will be key to offsetting cost inflation in H2 FY27
** "We remain constructive on TATA, given the ongoing capacity expansions, favorable steel pricing, and resilient demand, which should position the company to capitalize on the long-term domestic opportunity," - Brokerage
** Reiterates "Buy" rating on stock with TP of 220 rupees
** Shares of peers Steel Authority of India SAIL.NS rise 6.3%, JSW Steel JSTL.NS up 2.15%; Nifty Metal Index .NIFTYMET up 2.02%
** YTD, TISC up 6.2%

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))