Tata Steel share price slumped nearly 3% on Friday, 11 September, amid weak stock market trends. The stock has remained under pressure across multiple timeframes, declining 3.25% over the past week, 1.80% over two weeks, 2.95% over one month, 7.65% over three months, and 6.16% over six months. Tata Steel emerged as one of the top laggards on the Sensex and Nifty 50. Tata Steel share price today ended 1.67% lower at ₹182.85 apiece on the BSE.
Sensex fell 120.83 points to end at 74,781.76, while the 50-share NSE Nifty dropped 79.70 points to 23,398.10.
Tata Steel technical outlook: Analysts see near-term weakness
Tata Steel’s near-term technical setup remains cautious, with analysts flagging continued consolidation, relative underperformance and key support levels that could determine the stock’s next move.
Ruchit Jain, Head – Equity Technical Research, Wealth Management, Motilal Oswal Financial Services, said Tata Steel has been in a consolidation phase for the past month and has underperformed the broader metals space. “The near-term trend remains sideways to negative,” Jain said, adding that immediate support is placed in the ₹180–175 range.
Echoing the cautious view, Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, said the stock’s overall technical setup remains precarious, with weakness visible across multiple timeframes on its Point & Figure charts.
Rathi said Tata Steel has formed a bearish weak-break pattern on the long-term 3% chart, followed by a bearish three-column triangle breakout on the 1% × 3 daily P&F chart. The move has pushed the stock below its 10-column SMA, signalling a potential shift in trend to the downside.
A follow-through double-bottom sell below ₹182 could further weaken the technical setup, Rathi said. However, he noted that the stock is currently near a crucial support zone, and a convincing breakdown below ₹180–178 would be needed to trigger further weakness.
Tata Steel: Key developments
Recently, Tata Steel has commissioned a coke oven gas injection project at the blast furnace of its Meramandali plant in Odisha, marking what the company described as a first-of-its-kind initiative in India’s steel industry. The project aims to reduce carbon emissions and supports Tata Steel’s target of achieving net-zero emissions by 2045.
In another key development, Tata Steel received relief from the Supreme Court in a GST dispute. The apex court quashed a ₹890.52 crore tax demand, along with an equivalent penalty and applicable interest. The company said the court allowed its appeal and set aside a June 2025 show-cause notice and a December 2025 order issued by CGST and Central Excise authorities in Jamshedpur.
Meanwhile, Tata Steel reported a 19% year-on-year increase in consolidated net profit to ₹2,385.24 crore in Q1 FY27, compared with ₹2,007.36 crore in the year-ago quarter. Consolidated total income rose to ₹61,026.97 crore from ₹53,466.79 crore.
The company’s board has also approved a 4.8 million tonne per annum (MTPA) expansion at NINL, involving an estimated capital expenditure of ₹33,873 crore. The expansion is expected to strengthen Tata Steel’s long-products portfolio, particularly its branded retail offerings.
NINL is currently undergoing the process of amalgamation with Tata Steel.
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