Tata Steel shares crack 4% after Q4 results. Why did JPMorgan downgrade the stock?

Tata Steel’s shares dipped despite a 147% surge in Q4 FY26 net profit to Rs 2,965 crore. Analysts are divided, with JPMorgan downgrading to ‘Neutral’ citing regulatory headwinds in the Netherlands and project delays, while Morgan Stanley maintains ‘Overweight’ on strong domestic and UK performance.

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