RBA, Black Box, Tata Steel: Jatin Gedia shares 3 stock ideas for today
Tata Steel is in focus.
· Business Standard Mkts
Nifty's near-term trend remains positive as an inverted head-and-shoulders pattern points to a possible move towards 23,000-23,080.
The analysis
Against that, the stock is -1.7% on the day at ₹172.61, and has returned -8.4% over three months. It sits 22% below its 52-week high. The metals & mining sector has moved -4.0% over the same period, so Tata Steel is running 4.4 points behind its peers.
For Tata Steel, the question is how much of this is already reflected in the price and how much re-rates the metals & mining peer set alongside it.
Market context
- The company directly in focus is TATASTEEL.
- Sector exposure: Metals & Mining.
In this story
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