Shares of Tata Steel gained on Wednesday after the company reported strong provisional production and delivery volumes for the fourth quarter and full year FY2026.

The stock settled 3 per cent positive at ₹204.18, after hitting an intraday high of ₹206.40 from its previous close of ₹198.13.

Tata Steel reported its annual crude steel production in India at 23.48 MT in FY26, registering an increase of 8 per cent year-on-year. The growth was primarily driven by the ramp-up at its Kalinganagar plant, partially offset by the shutdown of the ‘G’ blast furnace at Jamshedpur for relining.

On a quarterly basis, crude steel production stood at 6.25 MT in the fourth quarter, up from 5.44 MT in the year-ago period, reflecting a 15 per cent year-on-year rise.

Deliveries remained in line with production growth, with annual deliveries in India reaching a record 22.53 MT. Notably, domestic deliveries crossed 20 MT for the first time, highlighting the company’s strong market presence. In the March quarter, deliveries rose 10 per cent year-on-year, marking the highest-ever quarterly volumes.

Among segments, the automotive and special products vertical recorded its best-ever annual deliveries of around 3.4 MT, supported by a shift towards high-end products, which grew 11 per cent year-on-year. The branded products and retail segment also achieved record volumes of about 7.3 MT, driven by steady performance of established brands.

The industrial products and projects vertical reported deliveries of approximately 7.2 MT, aided by value-accretive segments, including engineering applications such as defence and shipbuilding.

On the international front, Tata Steel Netherlands reported liquid steel production of about 6.7 MT and deliveries of around 6.1 MT in FY26, with fourth-quarter deliveries rising 21 per cent quarter-on-quarter to 1.7 MT. The UK business delivered 2.2 MT during the year, impacted by subdued market conditions, while operations continue to transition towards a 3 MTPA electric arc furnace at Port Talbot.

Tata Steel Thailand posted saleable steel production of 1.33 MT and deliveries of 1.32 MT, with deliveries increasing 11 per cent year-on-year, supported by strong domestic rebar demand.

The strong operational performance across domestic and key international markets lifted investor sentiment, driving the stock higher in early trade.

Published on April 8, 2026

The two-week ceasefire declared by the US President Donald Trump is expected to help ease supplies of LPG and LNG to India, even as it will take months for crude oil and refined product flows to normalise.

Besides, the development is bearish for crude oil and product prices in the short term.

Prashant Vasisht, Senior VP & Co-Group Head of Corporate Ratings at ICRA, said “The announcement of ceasefire in West Asia provides much needed relief to the domestic oil and gas sector given the high reliance on West Asia for supplies. While crude and product flows may take months to normalize, some supplies would start for crude oil and petroleum products like naphtha, LPG, thereby alleviating the immediate shortage.”

Additionally, with the prospect of supplies recommencing from the Strait of Hormuz (SoH), crude oil and LPG prices have eased thereby reducing the pressure on marketing margins and LPG under recoveries of oil marketing companies, he added.

Apart from crude oil, natural gas supplies are urgently needed for sectors such as fertilisers, however supplies may take weeks to commence, apart from stranded cargoes. Nevertheless, prospects of supply commencing would ease pressure on prices of natural gas and fertiliser inputs which would reduce the fertiliser subsidy burden for GoI, Vasisht explained.

“However, sustenance of ceasefire and resumption of traffic through Strait of Hormuz would remain key monitorables for oil and gas markets to normalise,” he emphasised.

US President Donald Trump’s announcement late April 7 of a two-week ceasefire with Iran is BEARISH for near-term oil prices as it removes the immediate threat of military escalation as per S&P Global Energy.

“Normalised trade flows are far from certain, and hostilities could resume at any time. The market shouldn’t assume an immediate return to pre-crisis conditions,” said James Bambino, Senior Principal Analyst Oil Trading Research, at S&P Global Energy.

Zhuwei Wang, Director of research & analysis at S&P Global Energy, said that the focus is presently on SoH, but stated goals from the Trump Administration have ranged from nuclear concerns, regime change, as well as reopening Hormuz. This near-term resolution is optimistic, but it alone does not fully address the underlying geopolitical tensions undergirding oil prices.

“Presuming traffic begins to flow through Hormuz, trade flow normalisation will take months, not weeks. Demand destruction—already underway—will likely continue despite the ceasefire. The bigger concern is what happens after reopening. It is likely that Hormuz will face persistent threats (Houthis, other proxy forces) for the foreseeable future,” he added.

The two-week ceasefire between the US and Iran is bearish for global natural gas and LNG prices as it is the strongest indication of halting the conflict so far, but a final agreement is still pending and there are many variables around a full reopening of the Strait of Hormuz, said Eric Yep, Senior principal analyst for First Take Gas at S&P Global Energy CERA.

“Over the next few days, once companies are confident of safe passage, laden LNG carriers within the strait will evacuate quickly, but a more definitive termination of hostilities will be needed to start bringing back LNG production and restore calm among Asian countries impacted by fuel shortages and rationing,” added Yep.

A number of backchannel discussions are also happening between Iran and other countries (GCC and other Asian states) that will help normalise the situation. The recent aborted attempt by two LNG carriers with Qatari cargoes to transit Hormuz and the successful transit of a Japan-linked LNG carrier suggest dialogues are in progress.

“The coming weeks will determine the post-war balance of power and security arrangements in the Middle East under which its oil and gas sector now evolves, which could be very different from before. For LNG markets, Qatar’s role in this new equilibrium and how it decides to frame its reevaluated foreign policy framework will be critical to restoring investor confidence in its LNG expansion,” said Yep.

Published on April 8, 2026