Tata Investment Corp zooms 20% to fresh record high on robust Q3 results
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Tata Investment Corp stock has risen 173.95 percent in the last one year, nearly tripling investors’ money
Shares of Tata Investment Corporation Ltd zoomed 20 percent on January 30 to a record high of Rs 5,794 on the NSE, a day after the company reported a 53 percent on-year rise in consolidated net profit (PAT) of Rs 53.2 crore for the quarter ended December 2023.
The company’s revenue from operations climbed 36.87 percent on-year to Rs 51.6 crore. Its earnings before interest, tax, depreciation and amortisation (EBITDA) surged 40 percent on-year to Rs 44.2 crore in Q3.
At 12:46pm, Tata Investment shares were trading at Rs 5,794.00 on the NSE with its market cap shooting past Rs 29,300 crore.
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Tata Investment Corp’s EBITDA margins climbed to 87.36 percent from 83.91 percent a year ago and the earnings per share (EPS) climbed to Rs 10.5 in Q3 FY24. In addition to the PAT, the holding company also realised profits of Rs 64.65 crore on the sale of equity investments credited to retained earnings in the balance sheet.
In the last one year, the Tata Investment Corp stock has risen 173.95 percent, nearly tripling investors’ money. In comparison, the benchmark Nifty 50 has risen 23 percent during this period.
The stock has a one-year beta of 0.3, indicating low volatility. The stock is trading higher than the 5-day, 10-day, 50-day, 100-day, and 200-day moving averages.
Tata Investment Corporation is primarily involved in long-term investments such as equity shares and equity-related securities. It invests in a diversified portfolio of listed and unlisted securities of companies, including Tata Group companies, which are engaged in various businesses with a history of strong operating and financial performance.
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Also Read | Tata Inv Corp Standalone December 2023 Net Sales at Rs 30.61 crore, up 23.88% Y-o-Y
Tata Investment Corp also invests in debt instruments and mutual funds, and other companies across industries.
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