Tata group shares rally; Tata Consumer, Tata Chemicals, Voltas at new highs – Business Standard

Shares of Tata group companies were in focus with five stocks – Tata Chemicals, Tata Consumer Products, Tata Elxsi, Tata Investment Corporation and – from the group hitting record highs on the BSE in the intra-day trade on Tuesday. (TCS) hit an all-time high on Monday, while Tata Motors, which has rallied 26 per cent in the past two trading days, was trading at its 52-week high level.

In the past one month, most of the frontline have outperformed the market by surging up to 35 per cent on improved economy outlook. In comparison, the S&P BSE Sensex was up 7 per cent during the same period. and Tata Elxsi soared 35 per cent and 33 per cent, respectively while Tata Power Company, TCS, Voltas, Tata Steel and gained in the range of 13 per cent to 18 per cent.

Among individual stocks, advanced 13 per cent to Rs 250 today in the intra-day trade, surging 26 per cent in the past two trading session after the company’s subsidiary Jaguar Land Rover (JLR) posted second successive quarter-on-quarter recovery in sales, despite the continuing impact of Covid-19. The stock was trading higher for the eighth straight day. The trading volumes on the counter jumped nearly five-fold with a combined 339 million equity shares changing hands on the NSE and BSE till 01:09 pm. READ MORE

Meanwhile, Tata Chemicals rallied 7 per cent, hitting a record high of Rs 535, surpassing its previous high of Rs 527 recorded on December 7, 2020. In the past three months, the stock has zoomed 76 per cent after its promoter, Tata Sons increases stake in the company via open market. During October-December quarter, Tata Sons hiked its stake by 2.51 percentage points to 31.9 per cent from 29.39 per cent at the end of September 2020 quarter.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Related post

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: