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Tata Steel shares jumped 2.8% on Monday to hit a new 52-week high of Rs 172.45 on the BSE, as optimism surrounding the steel sector drove investor interest. The upmove was supported by favourable global supply dynamics, domestic tariff protection, and positive commentary from leading brokerages.The rally in Tata Steel comes amid a broader surge in metal stocks, with investors betting that China’s ongoing production curbs, coupled with India’s extended safeguard duty on imported steel, will support prices and strengthen domestic producers.India recently extended its safeguard duty for three years, creating a 9% price advantage for local steelmakers, thereby insulating them from volatile global swings.China’s “anti-involution” campaign, which includes production caps and plant closures, is also expected to tighten global supply, reducing competition and providing a floor for steel prices. Analysts believe that the combination of India’s tariff protection and China’s production restrictions may help stabilise steel pricing in the near to medium term.Brokerages have also turned more constructive on the steel sector.Analysts at CLSA also pointed out that steel prices are expected to firm up, backed by global recovery trends and seasonal demand. They added that Indian producers, including Tata Steel, are well-placed to capitalise on improving demand conditions.Additionally, experts highlighted the potential role of currency movements, noting that metals historically share an inverse relationship with the U.S. dollar index. With the index hovering near key levels, a further breakdown could act as a tailwind for the entire metal space.Market experts believe that despite subdued consumption during the monsoon season, the industry is poised for a rebound in the coming months.Further, according to CNBC TV-18, global brokerage firm Morgan Stanley has also upgraded Tata Steel to an Overweight rating while raising its price target to Rs 200.Also read: Sebi may ease FPI entry with ‘automatic window’ to boost capital inflowsThe firm noted that Tata Steel is well-positioned to benefit from the expansion in hot-rolled coil (HRC) prices, along with any optionality from an extension of safeguard duties. Morgan Stanley highlighted that domestic businesses stand to benefit from spreads expansion, and it maintained a preference for JSW Steel due to its growth profile and larger domestic exposure, but reiterated optimism for Tata Steel as well.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Dubai: Overwhelming favourites will be an understatement to define the Suryakumar Yadav-led India given the gulf between them and the seven other nations, including a mercurial Pakistan, when the battle for continental supremacy unfolds at the Asia Cup T20 tournament on Tuesday. The action will begin with Afghanistan taking on Hong Kong in Abu Dhabi, but all eyes will be on Dubai, where a star-studded Indian team will be aiming to crush United Arab Emirates in its opener on Wednesday. In a tournament that has often served as a dress rehearsal for the T20 World Cup, the Asia Cup this time comes with a sense of inevitability. The weight of expectations is on the Indian team, not merely because of its pedigree but also because the balance of power has tilted decisively in its favour. India, for all their internal debates and external expectations, look like the one side that has clarity of purpose. And clarity, in high-pressure tournaments, often counts for more than raw talent. If one takes into account leadership, and sheer depth of talent, then this is India's tournament to lose. Such has been the confidence that chairman of selectors Ajit Agarkar and head coach Gautam Gambhir didn't for once entertain the idea of picking a 17-member squad allowed by the Asian Cricket Council. Instead, they picked 15 like they do for ICC events even if it meant keeping out players like Shreyas Iyer and Yashasvi Jaiswal. Winning the continental showpiece for the ninth time (seven in ODI format and one in T20 format in 2016) would neither earn Suryakumar or head coach Gautam Gambhir any extra credit. But anything short of trophy would invite a deluge of criticism given that the T20 World Cup is set to be co-hosted by India and Sri Lanka in four and half months' time. Suryakumar and his colleagues have around 20 games (if they reach Asia Cup final) before the global event starts. Getting the core combination right would be a major goal for the side. India is such a powerhouse that at this point BCCI has the ability to field three national T20 teams of equal strength. Suryakumar has been a phenomenal skipper so far with an astounding 80 per cent win record but now the leadership group will have vice-captain Shubman Gill, who is expected to take charge from the Mumbaikar in due course of time. How the T20 skipper and Test skipper align and sing from the same hymn sheet will certainly be watched with a lot of interest. The manner in which Indian batters reinvented the grammar of T20 batting, largely due to IPL exposure, has been difficult to match for teams like Pakistan and Sri Lanka, who were on even keel till a decade and half back. Who can stop India The broader storyline of the Asia Cup is therefore less about who can win it and more about who can stop India. Their depth dwarfs Pakistan's transitional experiment and Sri Lanka's rebuilt side. Salman Ali Agha's Pakistan team bears a young and fresh look. The dropping of Babar Azam and Muhammad Rizwan is PCB's clearest admission yet that reputations cannot hold a team hostage. But their success will largely depend more on how Shaheen Shah Afridi, Haris Rauf, and Hasan Ali bowl against a flamboyant Indian batting line-up. Pakistan would feel confident that they hammered Afghanistan by 75 runs in a low-scoring final of a tri-nation where their spinners dominated on a slow Sharjah track. Sri Lanka, under Charith Asalanka, aren't bad either but whether they have the consistency to win six to seven games in a tournament is a big question. Bangladesh, who remain mercurial in the shortest format, lack the firepower to sustain a challenge across the full length of the tournament. To be fair, in group B, Bangladesh look like the second team that will be eliminated apart from Hong Kong. That leaves Afghanistan as the only realistic stumbling block, a team whose spinners led by the peerless Rashid Khan, Noor Ahmed and the new kid on the block, A Ghazanfar, are expected to choke oppositions during the middle overs. Add to that, a batting order that can punch harder than ever before. The 'Minnows' As Oman deputy head coach Sulakshan Kulkarni put it during an interview with PTI, there is bound to be nervousness but the associate nations would look at games against India and Pakistan as an opportunity where a bigger audience can watch them ply their trade. As far as the Indian team is concerned, in their group, their will be 12 NRIs pitted against them -- six from UAE and another six from Oman. For UAE, Oman and Hong Kong , this is a tournament of reckoning and to showcase how far they have come in the past few years with improved infrastructure and better quality of expats from India and Pakistan representing them. Bowling to a Suryakumar or facing a Jasprit Bumrah is a rare experience for these teams. For now, the Asia Cup T20 carries one truth that towers above the rest: it is India's tournament to lose.

Shares of food delivery and quick commerce major Swiggy, which has attracted several bullish brokerage calls, found another supporter on Monday as global brokerage Nomura initiated a buy rating on the stock with a target price of Rs 550.“We believe that at the current price, the market is valuing only 0.3x EV/GOV for its QC business versus 0.9x for Eternal. In our view, disciplined execution and improving visibility on breakeven will be key catalysts for the stock. However, increased competition in the QC business due to aggressive expansion by other players could delay the company’s path to profitability,” said Swiggy’s Abhishek Bhandari.He added that Swiggy’s ongoing product innovations, such as Bolt, a 10-minute quick delivery service that accounts for ~12% of overall deliveries, continue to help the company improve market share against Zomato.“We expect a ~100 basis point market share increase for Swiggy in FY26F. Longer term, as scale builds, we expect contribution margin and adjusted EBITDA margin (as a % of gross order value, or GOV) to converge for the two players. We forecast a ~20% CAGR in GOV for Swiggy’s FD business for FY25–27F, with ~120bp improvement in adjusted EBITDA margin over the same period,” Nomura added.Nomura also noted that the peak of dark store expansion is likely behind Swiggy, with the count nearly doubling to 1,021 by end-FY25.Last week, Motilal Oswal upgraded its rating on Swiggy to ‘BUY’, assigning a target price of Rs 560.“Food delivery growth slowed due to weak consumption and macro pressures, while QC profitability came under strain from heightened competition, accelerated dark store rollouts, and elevated customer acquisition costs. We now believe the cycle is turning,” Motilal Oswal said.Betting on multiple tailwinds ahead, the brokerage raised FD growth estimates for both Zomato and Swiggy to 21–23% for FY26–27 (from 19–20% earlier) and valued FD businesses at 35x FY27E adjusted EBITDA (up from 27x earlier).Swiggy shares were trading about 1% higher at Rs 442 on BSE on Monday morning, still down 28% from their peak of Rs 617.

Shares of the recently listed Vikram Solar zoomed 7% to their day’s high of Rs 347.35 on the BSE on Monday, September 8, after the company announced a significant order win of 336 MW high-efficiency solar modules from Larsen & Toubro (L&T) Construction.“Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the Press Release on major order win of 336 MW high-efficiency solar modules from L&T Construction,” the company said in an exchange filing.The modules will be deployed in Khavda, Gujarat, a region where Vikram Solar has already played a major role in solar capacity expansion.As part of this order, Vikram Solar will supply its advanced Hypersol G12R modules, built on N-type technology. The latest module offers improved bifaciality of up to 80%, better high-temperature performance, and minimal year-on-year degradation of ≤0.4%.The adoption of G12R modules is expected to improve Balance-of-System (BOS) efficiency and reduce the Levelized Cost of Energy (LCOE), thereby making solar energy more cost-effective and accessible.The Khavda Renewable Energy Park, one of India’s most ambitious solar projects, is at the forefront of the country’s renewable energy transformation. With projects of this scale, Gujarat is setting global benchmarks in solar capacity deployment.Also read: Vijay Kedia's Big Bets: 6 stocks surge up to 45% in 5 months — Do You Own Any? “We are delighted to contribute to this landmark project. The region holds immense potential for solar energy, and this project will play a pivotal role in harnessing that opportunity. Each project we deliver is a testament to the trust placed in Vikram Solar’s technology, performance, and commitment to excellence,” said Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)