Tata Steel hits all-time high; stk soars 25% in a month on ratings upgrade

Shares of Tata Steel hit an all-time high of Rs 924.25 as they rallied 6 per cent on the BSE in intra-day trade on Thursday. The stock surpassed its previous high of Rs 924 touched on October 29, 2007. In the past one month, the Tata group company has rallied 25 per cent after the global rating agencies upgraded the outlook on Tata Steel to stable, citing a recovery in Q3 of the financial year 2020-21 (Q3FY21).

On Tuesday, March 6, Standard and Poor’s raised the credit rating of Tata Steel and its subsidiary ABJA Investment Co from ‘B+’ to ‘BB-'