tata steel: Tata stock hit 52-week low … 26% decline in 2 months !! Can I buy it? Don’t you – tata steel shares near 52-week low. good time to buy after 26% dip in 2 months?

Shares of Tata Steel fell in today’s trade. The Nifty has a 52-week low of Rs 991.80. Shares of Tata Steel started the day at Rs 15 per share and are hovering around Rs 20 from its 52-week low. The intraday low went to Rs 1010.65. Over the last two months, Tata Steel’s share price has fallen from Rs 1357.90 to Rs 1010. It has declined by 26 percent during this period.

According to stock market experts, metal prices have fallen by 25 percent in the past few months. And it is expected to fall further from the current level. The company has said that after the Indian government imposed an excise duty on steel exports, the large amount of foreign trade it had received over the past few years will no longer be available. Apart from this, the demand for steel products is expected to decline further as the monsoon approaches soon.
Therefore, Tata Steel is expected to reduce its revenue for the first quarter of 2023 to 2022 compared to the fourth quarter. The stock is expected to weaken further in the next 2-3 months.

Tata Steel shares have strong support at Rs 990 with the ‘sell on rice’ tag. Therefore, it is also one of the best stocks available in the current stock market.

Overall, it is noteworthy that after the excise duty on steel imports by the Central Government, Tata Steel will lose a large volume of export trade.