Tata Steel Shares Rise on Major Capex Plans; JPMorgan's Top Pick

• Tata Steel shares gained nearly 2% after announcing multiple capital expenditure (capex) plans.
• The company plans significant capacity expansion, including scaling up NINL by 4.8 mtpa, a 2.5 mtpa mill in Odisha, and a 0.7 mtpa line in Maharashtra.
• Tata Steel signed an MoU with Lloyd Metal for collaboration in iron ore mining and steelmaking in Maharashtra, and will build a 6 mtpa greenfield plant there.
• It also acquired a 50.01% stake in Thriveni Pellets and will build a 1 mtpa low-carbon facility in Jamshedpur.
• JPMorgan considers Tata Steel its top pick, citing improved European steel spreads and expected rebound in EU prices by 2026, despite range-bound domestic prices.

Why It Matters: Tata Steel's expansion and JPMorgan's preference signal strong future growth.