A total of 28 listed Tata group stocks saw their combined market capitalisation (m-cap) rising by over Rs 1,00,000 crore in the last four trading sessions. This excludes the gains seen on Tata group stocks in Tuesday’s trade. A total of 23 out of 28 Tata stocks delivered positive returns in the last four sessions. The gains on the Tata group counters were seen ahead of the kick start of Tata Technologies (Tata Tech) initial public offer (IPO) on Wednesday. This would be the first IPO for the Tata group since Tata Consultancy Services’ (TCS) in 2004.
Tata Investment Corp, a listed holding company for several Tata group companies, has seen its shares rallying 39.47 per cent in the last four sessions on hopes of value unlocking ahead. Tata Investment owns 0.33 per cent stake in Tata Motors, the parent of Tata Technologies. The stock, however, fell 3.57 per cent to Rs 4,333 in Tuesday’s trade on profit booking.
Shares of Artson Engineering Ltd climbed 32 per cent in the last four sessions. Tayo Rolls Ltd and Benares Hotels Ltd climbed 5-6 per cent during the same period. Tata group’s flagship Tata Consultancy Services (TCS), Tata Steel Long Products Ltd, Tata Metaliks Ltd, Tinplate Company of India Ltd, Tata Steel and Tata Elsxi added 2.6-3.6 per cent in the four-day period.
In total, the group added Rs 1,02,391 crore to its m-cap that stood at Rs 25.17 lakh crore as on Monday against Rs 24.15 lakh crore on November 13. Titan Company Ltd, Trent Ltd, The Indian Hotels Company Ltd, Voltas Ltd, Tata Coffee Ltd, Tata Consumer Products Ltd, Tata Power Company Ltd and Tata Communications Ltd advanced up to 2 per cent during the same period. Only one of 28 Tata group stocks (Tejas Network: down 1.5 per cent) fell over 1 per cent in the four-day period.
In the case of Tata Technologies, the global engineering services firm was established in 1994. Tata Technologies offers product development and digital solutions to international OEMs and tier-1 suppliers. The Tata group firm has domain expertise in the automotive industry. Analysts noted that the company leverages this expertise to serve clients in adjacent industries such as Aerospace and Transportation and Construction Heavy Machinery.
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