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Tata Steel Hits Record High on Strong Q3 Results
9 Feb
Summary
- Tata Steel shares reached an all-time high of Rs 203.
- Net profit surged 723% year-on-year to Rs 2,688.70 crore.
- Brokerages maintain 'Buy' ratings with increased price targets.
On February 9, 2026, Tata Steel's stock price achieved an unprecedented high, trading at Rs 203. This surge followed the company's announcement of impressive December quarter financial results. Net profit attributable to owners saw a substantial 723.1% year-on-year increase, climbing to Rs 2,688.70 crore from Rs 326.64 crore in the previous year's quarter.
Consolidated revenue for the quarter rose approximately 6% year-on-year to Rs 57,002 crore, though it experienced a slight sequential decline from the prior quarter. Ebitda also showed strong year-on-year growth, up 38.9% to Rs 8,199 crore. The strong annual performance was attributed to higher steel volumes in India, improved operations in the Netherlands, and cost-saving initiatives.
Several financial institutions expressed confidence in Tata Steel's future prospects. HSBC, Jefferies, JP Morgan, and Nomura all reiterated 'Buy' ratings, increasing their target prices. They cited expected profitability improvements in upcoming quarters, supported by declining debt and favorable policy measures. Morgan Stanley also maintained an 'Overweight' rating, highlighting positive Ebitda trends and debt reduction.
