Tata Steel shares jump 3% to hit fresh 52-week high on strong sector tailwinds, brokerage optimism
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Tata Steel shares jumped 2.8% on Monday to hit a new 52-week high of Rs 172.45 on the BSE, as optimism surrounding the steel sector drove investor interest. The upmove was supported by favourable global supply dynamics, domestic tariff protection, and positive commentary from leading brokerages. The rally in Tata Steel comes amid a broader surge in metal stocks, with investors betting that China’s ongoing production curbs, coupled with India’s extended safeguard duty on imported steel, will support prices and strengthen domestic producers. India recently extended its safeguard duty for three years, creating a 9% price advantage for local steelmakers, thereby insulating them from volatile global swings. China’s “anti-involution” campaign, which includes production caps and plant closures, is also expected to tighten global supply, reducing competition and providing a floor for steel prices. Analysts believe that the combination of India’s ...