Shares of Tata group companies were in focus with five stocks – Tata Chemicals, Tata Consumer Products, Tata Elxsi, Tata Investment Corporation and Voltas – from the group hitting record highs on the BSE in the intra-day trade on Tuesday. Tata Consultancy Services (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 Tata group stocks 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. Tata Motors and Tata Elxsi soared 35 per cent and 33 per cent, respectively while Tata Power Company, TCS, Voltas, Tata Steel and Tata Metaliks gained in the range of 13 per cent to 18 per cent.
Among individual stocks, Tata Motors 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.
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