Tata Steel Share Price: 15.6% CAGR in 3 Years as the Steel Major Compares With Hindalco

Tata Steel previous close Rs 184.85. 3-year CAGR 15.6%. Up 1.5x since 9 Nov 2023. ROE 11.18%. Market cap Rs 2,30,820 crore.

The Tata Steel share price has delivered a steady return over three years, and that makes Tata Steel a reference point for metal investors. The Tata Group company is one of the largest steel producers in India and also has operations in Europe.

This article compares that run with Hindalco Industries, a large aluminium and copper producer. We calculate the three-year CAGR for both and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions, so that readers get a like-for-like view.

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How Much Has the Tata Steel Share Price Returned in 3 Years?

The Tata Steel stock closed at Rs 119.65 on 9 November 2023 and at Rs 184.85 on 9 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 1.54 lakh, which is a CAGR of 15.6%. This is a price return and leaves out dividends.

CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Tata Steel can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.

The Tata Steel share price has also been supported by firm domestic steel demand from infrastructure and construction, and by continued expansion of its Indian capacity.

Tata Steel vs Hindalco Industries: 3-Year CAGR Compared

The table ranks the companies by three-year CAGR. Prices on 9 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 9 November 2026.

Company	Close on 9 Nov 2023	Previous close (9 Nov 2026)	Price multiple	3-year CAGR
Hindalco Industries	Rs 484.45	Rs 960.00	2.0x	25.6%
Tata Steel	Rs 119.65	Rs 184.85	1.5x	15.6%

The Tata Steel stock ranks second of the two at 15.6%. The company ahead is Hindalco Industries (25.6%). Hindalco finished ahead of Tata Steel on yearly return. Tata Steel is slightly larger by market cap, while Hindalco carries the higher ROE and a lower P/E.

Look at the Tata Steel share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.

Valuation and Quality Compared

Company	Market cap	P/E	Industry P/E	ROE	Debt to equity
Tata Steel	Rs 2,30,820 crore	19.59	21.06	11.18%	0.99
Hindalco Industries	Rs 2,15,509 crore	11.23	10.33	14.58%	0.71

By market cap, Tata Steel is the largest of the group at Rs 2,30,820 crore, which gives it the scale advantage over Hindalco Industries. On earnings, Tata Steel shares trade at a P/E of 19.59 against an industry P/E of 21.06, a discount of about 7% to the sector, which leaves room if earnings keep growing. Peer multiples are Hindalco Industries at 11.23.

Return on equity is 11.18% for the Tata Steel stock, which ranks second among the two, and debt to equity stands at 0.99. Trailing EPS is Rs 9.44. Metal companies move with commodity prices, so the P/E should be read together with return on equity and the debt position, because earnings can change with the price cycle.

What Is Driving the Tata Steel Stock?

Tata Steel makes flat and long steel products for construction, autos, packaging and general engineering. It has integrated operations that run from iron ore and coal mines to finished products, which helps control costs in India.

The company has been adding capacity in India and investing in lower-carbon steelmaking. Domestic steel demand has been supported by public spending on roads, railways and housing, and by the steady needs of the auto and packaging industries, which buy higher grade products.

Followers of the Tata Steel share price usually track steel prices, coking coal costs, volume growth in India and the performance of its European business.

How the Established Players Stack Up

Hindalco Industries is an Aditya Birla Group company that produces aluminium and copper in India and owns the global rolling company Novelis. It compounded at 25.6% a year, on a market cap of Rs 2,15,509 crore and an ROE of 14.58%.

What Should Investors Track Next?

Three things are worth watching on the Tata Steel share price. First, the direction of steel prices. Second, raw material costs such as coking coal. Third, progress on capacity expansion in India.

At a P/E of 20, the stock trades just below the industry P/E of 21, and its debt to equity of 0.99 is moderate. Steel prices can swing quickly, so size any position with that in mind.

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How to Compare Steel Stocks Yourself

You can repeat this exercise for any pair of stocks, including the Tata Steel stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.

A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Tata Steel share price, the same four checks give a more complete picture than price alone.

Download the Univest iOS App or Univest Android App to track the Tata Steel share price and compare metal stocks live.

A Steel Major Trading Just Below Its Sector Multiple

The Tata Steel share price compounded at 15.6% a year over three years, behind Hindalco at 25.6%. Its market cap of Rs 2,30,820 crore is slightly larger than Hindalco and its P/E of 19.59 is just below the industry level.

Hindalco brings an aluminium and copper exposure with a higher ROE. The choice depends on whether you want steel or non-ferrous metals.

Frequently Asked Questions

What is the Tata Steel share price today?

Ans. Tata Steel closed at Rs 184.85 on 9 November 2026, according to NSE data. It has a market cap of Rs 2,30,820 crore and a P/E of 19.59. Check live quotes before acting, as prices change every trading day.

What is the 3-year CAGR of the Tata Steel stock?

Ans. Tata Steel delivered a price CAGR of 15.6% over three years, moving from Rs 119.65 on 9 November 2023 to Rs 184.85 on 9 November 2026. The figure excludes dividends and uses adjusted closing prices.

Is Tata Steel better than Hindalco?

Ans. Hindalco delivered a higher three-year CAGR at 25.6% than Tata Steel at 15.6%. Tata Steel is slightly larger by market cap at Rs 2,30,820 crore against Rs 2,15,509 crore, while Hindalco has a higher ROE at 14.58% against 11.18% and a lower P/E of 11.23 against 19.59. The better choice depends on your view of each business.

What does Tata Steel do?

Ans. Tata Steel is a Tata Group company and one of the largest steel producers in India, with additional operations in Europe and Southeast Asia.

Is the Tata Steel stock debt free?

Ans. The debt to equity ratio of the Tata Steel stock is 0.99 and its return on equity is 11.18%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.

Is Tata Steel expensive compared with the industry?

Ans. Tata Steel trades at a P/E of 19.59 against an industry P/E of 21.06. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.

Which steel stock gave the highest return in 3 years?

Ans. Among the companies compared here, Hindalco Industries delivered the highest three-year CAGR at 25.6%, followed by Tata Steel at 15.6%. Past returns do not guarantee future performance.

How do I calculate CAGR for a stock?

Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.