TATA group stocks are bussing on trade since last week due to various reasons. Check how will they perform in this week.
Strong performance was seen in the shares of Tata Steel, the metal company of Tata Group. This share was at its all time high after the selloff on June 4, this stock is witnessing a spectacular rise. In this rise, it has jumped by 12% from Rs 159 to Rs 179 (Tata Steel Share Price). On Friday it also made a new all time high of Rs 180. The brokerage believes that this momentum can continue this week. Know what is the target for positional investors.
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Last week the Hyderabad Bench of NCLT i.e. The National Company Law Tribunal has approved the amalgamation with Bhubaneswar Power Limited.On February 1, 2028, Tata Steel had bought the entire stake in it. This deal has received approval from NCLT.
TATA Steel Share Price Target
Motilal Oswal has advised positional traders to buy shares of Tata Steel. A target price of Rs 197 has been given. In case of a decline, a stop loss of Rs 165 has been given. This week this share closed at the level of Rs 179. This week’s high is Rs 180, which is also its all-time high, and low is Rs 148, which it made intraday on June 4, the day of election results, reported Zee Business.
Tata Steel shares rose by 7 percent this week, 2.3 percent in two weeks, about 9 percent in one month, 14 percent in three months, 28 percent so far this year and 60 percent in one year.
Brokerage firm Axis Direct has also advised to buy Tata Steel shares for 15 days with a target price of Rs 187 and stop loss of Rs 175.
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Nelco Share Price & Dividend News
Shares of Nelco Limited will be in focus today i.e. June 10 (Monday) as the Tata Group company has recommended a 22 per cent dividend payment to its shareholders for the financial year 2023-24.
Nelco Share Price
Shares of Nelco Limited closed in green at Rs 729.45 apiece, up by 1.64 per cent on June 7. The company registered a 52-week high of Rs 893.80 and a 52-week low of Rs 642.55.
Nelco Dividend 2024 Amount
“The Board of Directors has recommended a final dividend of Rs. 2.20/- per share (22%) (face value of Rs. 10 each) for the financial year ended 31st March 2024,” the company said in an exchange filing.
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Nelco Share Price History
According to BSE analytics (as of June 9), shares of Nelco limited rose by 1.59 per cent. In the last 1 month and 3 months, shares of the Tata company down by 0.35 per cent and 10 per cent. But on a YTD basis, shares of the Ratan Tata-owned company have fallen by 9.21 per cent. In the last 1 year, 2 years, 3 years, 5 years, and 10 years, shares of the company up by 2.56 per cent, 6.84 per cent, 194.43 per cent, 147.22 per cent, and 1184.17 per cent, respectively.
