Shares of Tata Steel have risen 45% from their 52-week lows in nearly seven months. Metal stocks hit a yearly low of Rs 82.71 on June 23, 2022. Recently, the share price of Tata Steel has been on an upward trend.

Shares of Tata Steel have surged 17.71% or Rs 18.1 since December 23, indicating that the stock is basically in a bullish trend for 19 days. Shares of Tata Steel were up 1.91% at Rs 120.30 in the session.

A total of 23.45 lakh shares changed hands on the BSE for a turnover of Rs 28.21 crore. Tata Steel’s market capitalisation rose to Rs 1.47 lakh crore. The stock touched a 52-week high of Rs 138.63 on April 6, 2022. The large-cap stock is down 13.22% from its 52-week high.

Tata Steel stock trades above the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

Shares in Tata Steel have rallied since late June last year despite weak earnings in the company’s reporting period. The stock closed at Rs 83.81 on June 23, 2022. The stock has since gained 43.55%.

Tata Steel reported a 21% drop in consolidated net profit for the June quarter of the current financial year. The steel giant posted a consolidated net profit of Rs 7,714 crore for the quarter that ended June 30, 2022, down from Rs 9,768 crore in the same period in FY22.

The company reported weak earnings for the quarter ending September 2022. Tata Steel’s consolidated profit plunged 90% to Rs 1,297 crore in the September quarter due to higher charges. Tata Group reported a profit of Rs 12,547.7 crore in the same quarter last year.