Tata Steel shares scale to 52-week high on Morgan Stanley’s upgrade

Tata Steel shares soared, leading the gainers of Nifty 50 on Monday as investor sentiment turned upbeat on the metals sector.

The surge followed global brokerge Morgan Stanley’s upgrade on Indian steelmakers, citing stronger demand prospects and improving global commodity trends.

The positive momentum in Tata Steel, along with gains in peers JSW Steel and SAIL, also lifted the benchmark indices.

Morgan Stanley has turned constructive on steel spreads expansion as demand continues to improve. Domestic steel prices are likely to strengthen further.

According to the brokerage firm, China’s “anti-involution” theme is also gaining traction. The steel price estimates have been raised by 3 per cent each for FY27 and FY28. Against this backdrop, select steel stocks are expected to outperform the broader India Materials space over the coming months.

The brokerage has upgraded ratings to overweight at a revised target price of ₹200 per share.

The stock traded 2.35 per cent positive on the NSE at ₹171.62 after opening at ₹170 and hitting a 52-week high of ₹172.50 against the previous close of ₹167.68.

Published on September 8, 2025