Tata Steel shares rally 6% on Dutch job cuts, brokerages see up to 33% upside

Tata Steel shares surged 6% after announcing plans to cut 1,600 jobs in the Netherlands as part of a major cost-reduction drive targeting €500 million in savings by FY27. The move, aimed at reviving its European operations, drew mixed brokerage views. While JPMorgan and Macquarie see strong upside, Citi flagged tariff-related risks to demand and margins.