Shares of Tata Investment Corporation rose for the sixth straight session despite the broader market trading in the red today. Tata Investment Corporation stock gained 10 per cent intra day today to its fresh all-time high of Rs 2,886.5 against the previous close of Rs 2,624.10 on BSE. The Tata Group stock has gained 62 per cent in six straight sessions. The stock which closed at Rs 1,781.7 on September 7 rose to a fresh high of Rs 2,886.5 today.
It had hit a 52-week low of Rs 1,218 on June 6, 2022, translating into returns of 137 per cent in over three months. The share of Tata Group’s NBFC arm is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. In a year, the stock has risen 113 per cent and gained 101.37 per cent in 2022. The mid cap stock has zoomed 82 per cent in a month.
Total 1.57 lakh shares of the firm changed hands amounting to a turnover of Rs 43.86 crore on BSE. Market cap of the firm rose to Rs 13,650 crore on BSE. Earlier, shares of Tata Investment Corporation opened higher at Rs 2,740 on BSE.
Tata Investment Corporation Ltd reported a 66.52 per cent rise in consolidated profit after tax at Rs 89.74 crore in Q1FY23 driven by higher dividend income.
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The company had posted a consolidated profit after tax of Rs 59.89 crore in Q1FY22. Revenue from operations and the dividend income during the quarter under review stood at Rs 101.97 crore and Rs 74.19 crore, respectively, as compared to Rs 61.9 crore in the year-ago period.
The company’s total expenses in Q1 stood at Rs 11.17 crore.
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https://www.businesstoday.in/latest/corporate/story/tcs-pips-hdfc-to-become-the-most-valuable-brand-in-india-kantar-brandz-report-347258-2022-09-15
Tata Investment Corporation Limited is an investment company. The company is engaged in the business of investment in listed and unlisted equity shares, debt instruments, and mutual funds companies in a wide range of industries. It invests in a portfolio of quoted and unquoted securities of companies, including Tata Companies, which are engaged in various businesses. Its primary sources of income consist of dividends, interest, and gains on the sale of long-term investments.
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The company also invests in units of mutual funds, bonds, and venture capital funds. The company’s subsidiaries include Simto Investment Company Limited, Tata Asset Management Limited, Tata Trustee Company Limited, and Amalgamated Plantations Private Limited.
