Tata Steel Shares Slump To Over Two-Month Low To Drag Nifty Metal

Tata Steel Ltd.'s share price slumped to the lowest level in over two months on Monday. The scrip emerged as the top dragger in the Nifty Metal index. The stock fell following three large trades.

About 51.74 lakh shares changed hands in large trades at the price range of Rs 126.35–126.8 apiece on National Stock Exchange Ltd. The number of total outstanding shares were 12.48 lakh crore as of Dec. 31, 2024. The company's promotor group controls 33.19% of this, while the rest is owned by the public, according to data on Cogencis Analytics.

The Nifty Metal slumped 8.16% to 7,690.20, the lowest level since March 15, 2024. The index has been falling for three days in a row because US President Donald Trump's aggressive tariff policy may end up causing volatility in the international commodity prices. The index was trading 7.52% down at 7,779.35 as of 10:11 a.m.

Tata Steel share price slumped 10.70% to Rs 125.37, which is the lowest level since Jan. 28. It was trading 9.80% down at Rs 126.63 apiece as of 10:11 a.m., as compared to a 4.11% decline in the NSE Nifty 50.

The stock declined 23.35% in 12 months, and 8.63% on year-to-date basis. Total traded volume so far in the day stood at 1.34 times its 30-day average. The relative strength index was at 23.91, which implied the stock was oversold.

Out of 34 analysts tracking the company, 20 maintain a 'buy' rating, eight recommend a 'hold' and six suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 21.5%.