Tata Steel Witnesses Tepid Response, Closes at 1.22% Less Than Opening Prices

21st March, 2025 / 3:30 PM

Share prices of Tata Steel closed at ₹157.08 today, which is 1.22% lower than the opening price of ₹159.03. Interestingly, the opening figures were lower than the closing figures on the 20th of March (₹159.04) by less than even 0.01%. At the same time, the opening prices on the 20th, i.e.₹160 were also higher than the closing prices on the 19th, i.e.₹158.60. The stock opened above the closing price for three straight days before today’s developments. 

At midday, it was trading at ₹158.57, just below the opening price, although it did peak once to ₹159.30 before coming down again. However, Tata Steel could still be a long-term dark horse with the proposed safeguard duty set to benefit the company as per the expectations of industry experts. The revival in the Chinese market could be another factor that works in the company’s favor.

21st March, 2025 / 12:30 PM

Tata Steel prices were at ₹158.57 by midday, slightly lower than the opening price of ₹159.03 which was itself a little muted. During trading, the prices did go up temporarily to an intraday peak of ₹159.30, although they have plunged downwards since. The lowest level today has been ₹158.44 and the stock may go on to close well below the opening price at this rate. 

This comes even after the initial surge in shares after the announcement of the safeguard duty which will benefit Indian steelmakers. While the initial market optimism was justified, the subsequent muted response to share prices may conceal a future growth trend in its wake as per some experts. There is also news of the company replacing furnace oil at its FAP plant with PNG, which is a positive development and could spur a little recovery in share prices.  

21st March, 2025 / 9:30 AM

Tata Steel prices opened at ₹159.03 today, slightly lower (less than 0.01%) than the closing price of ₹159.04 on the 20th of March 2025. Interestingly, the opening prices were ₹160 yesterday, which was 0.88% higher than the closing price of ₹158.60 on the 19th of March 2025. The opening prices for the 19th were at ₹156.80, while the closing prices for the 18th stood at ₹154.66. In the same pattern, the opening price for the 18th of March was ₹153, while the closing price on the 17th was ₹151.81. 

So, after three straight days of opening above its closing price, the stock has opened negligibly below the closing price today, i.e. the 21st of March. However, investors are still positive about the prospects of this stock, going by the revival in the industry and also in the Chinese markets. News of the proposed safeguard duty may also bolster its performance going forward

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