Tata Steel shares to hit Rs 215? Brokerages weigh in on upside potential

Tata Steel shares gained more than 2 per cent in Friday’s trade as metal stocks rallied sharply. The Nifty Metal index rose 1.62 per cent to 10,433.65, touching an intraday high of 10,457.80. Tata Steel was among the top gainers on the index. At 11:14 AM, the stock was trading at Rs 170.10, up Rs 3.72 or 2.24 per cent.

The stock has risen around 12 per cent in the last six months and is up 24 per cent on a year-to-date basis. However, it has corrected nearly 5 per cent in the past one month. Despite the near-term volatility, most brokerages remain positive on the counter, barring Citi, which retains a cautious stance.

Tata Steel share price target 2026

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Morgan Stanley: Maintains Overweight rating with a target of Rs 200.

Citi: Maintains Sell rating with a target of Rs 160.

HSBC: Maintains Buy rating with a target of Rs 215, the most bullish estimate.

Macquarie: Maintains Outperform rating with a target of Rs 207.

Nomura: Maintains Buy rating with a target of Rs 215.

Tata Steel ramps up expansion

Tata Steel has stepped up its expansion plans with new projects and value-addition initiatives across the country. The company has signed an understanding with Lloyds Metals & Energy to explore joint work across mining and steelmaking in Maharashtra.

Separately, the board cleared key projects in the eastern region. These include a 4.8 million tonne expansion of Neelachal Ispat Nigam Ltd (NINL) at Kalinganagar, Odisha, and a 1 million tonne low-carbon steelmaking unit in Jamshedpur, Jharkhand.

Tata Steel will also set up two downstream units—one in Odisha for construction-grade products and another in Maharashtra for automotive applications.

In addition, the company approved the acquisition of a 50.01 per cent stake in Thriveni Pellets Pvt Ltd for Rs 636 crore, giving it access to a 4 million tonne pellet plant and a 212-km slurry pipeline in Odisha.