Share price of Tata Investment Corporation today: Shares of Tata Investment Corporation, the NBFC arm of Tata Group, moved on as the stock hit a new all-time high on Thursday. The price rose more than 7 percent on the BSE in early deals to a record high of Rs 2,886 per share with a market cap of Rs 14,227 crore. Shares have more than doubled in nearly three months.
The share of the NBFC arm of Tata Group has risen 47 percent in the past five sessions. Shares of Tata Investment Corporation are trading above the 5, 20, 50, 100 and 200 day moving averages. In one year, the stock has risen 100 percent and is up 88 percent in 2022. Tata Group’s share has turned into a multi-bagger stock in the past three months, rising more than 110 percent over the period, from Rs 1,300 in mid-June this year, to doubling in value to Rs 2,880 currently. In one year, shares of Tata Investment are up about 119 percent, compared to a rise of more than 2 percent in benchmark BSE Sensex.
Tata Investment Corporation Limited (TICL), promoted by Tata Sons, is a non-banking financial corporation (NBFC) registered with the Reserve Bank of India (RBI). Previously known as The Investment Corporation of India, the company is primarily engaged in investing in long-term investments such as equities and equity-related securities. The company is engaged in investments in publicly traded and unlisted stocks, debt instruments and mutual funds across a wide range of sectors. It invests in a portfolio of listed and unlisted securities of companies, including Tata Companies, that engage in various activities. The main sources of income are dividends, interest and gains on the sale of long-term investments.
In the first quarter of the current fiscal year, net profit rose 67.05 percent to Rs 89.94 crore, from a profit of Rs 53.84 crore in the corresponding quarter of the previous fiscal. Turnover increased by 64.73 percent to Rs 101.97 crore in the June quarter from Rs 61.90 crore in the June quarter of the last fiscal year. Pre-tax profit increased by 70.19 percent year-on-year to Rs 97.28 crore in the first quarter of June 2022. Total expenses increased by 88.4 percent year-on-year to Rs 11.17 crore in the first quarter of June 2022 .
Should you invest?
Manoj Dalmia, founder and director of Proficient Equities, said: “Tata Investment has recently taken a huge step. Investors can wait for a small retracement to enter. A small retracement is expected to Rs 2,299 levels, which could be a good point Aggressive investors can even buy at the current level with a stop loss of Rs 2,229. We can expect a target of Rs 3,343 from current levels.”
Ravi Singh, Vice President and Head of Research, Share India, said: “Tata Investment Corporation has shown a massive rally thanks to its robust earnings from higher dividend income, interest and gains on investment sales. The share is also witnessing a possible increase in volumes due to the technical settings and the momentum indicators on the daily and weekly charts point to a strong upward movement and the counter could reach the Rs 3,000 level in the short to medium term.
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