Tata Steel stock: Is it a buy, hold or a sell?

Near-term upside may be limited as the stock is trading above consensus target price of analysts

Global and domestic trends in the iron and steel industry are difficult to decode. Hence, analysts’ opinion is also divided. While the global steel prices dropped through the last year, there’s a case for claiming global prices have bottomed or are close to bottoming out.

Europe has cut steel production by 20 per cent, which has helped align supply with demand. The US had a surprisingly strong performance in 2023.
 

There are hopes the EU’s demand for steel will also pick up. In India, domestic demand has been buoyed up by the infrastructure policy thrust.
 

China is the big question