Tata Steel Share Price Erases Gains After Rising On Large Deal

Tata Steel Ltd. share price erased gains following a large deal in on National Stock Exchanges Tuesday. Its 18.65 lakh shares were traded in a block deal at a price of Rs 130 apiece.

Promoter and promoter group owns 33.19% while public owns 66.81%.

However, after the effect of large deal waned, the share price was back in the red. Tata Steel Ltd. snapped a three-day losing streak in early trade on Tuesday.

Tata Steel Ltd.'s share price rose 0.56% to Rs 132.40 apiece, the highest level since Jan 9. The stock later declined 1.47% to Rs 129.72 apiece.

The stock rose 0.54% in 12 months. The relative strength index was at 42.02.

Out of 34 analysts tracking the company, 17 maintain a 'buy' rating, nine recommend a 'hold,' and eight suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 21.6%