Tata Elxsi, TTML to Tata Power: These Tata group shares jump up to 15% in stock market today

Tata Elxsi, TTML to Tata Power: These Ratan Tata-backed Tata shares jumped up to 15% in the stock market today. Tata Investment Corporation emerged as the top gainer among Tata group stocks.

A Ksheerasagar
Updated10 Oct 2024, 10:34 AM IST
Tata Elxsi, TTML to Tata Power: These Tata shares jump up to 11% in stock market today
Tata Elxsi, TTML to Tata Power: These Tata shares jump up to 11% in stock market today(AFP)

Tata Group Shares: Shares of Tata Group saw significant buying action during the early morning trade on Thursday, October 10. Most of the group's stocks were in the positive territory, led by Tata Investment Corporation, which surged 15% to 7,545 apiece. Tata Teleservices (Maharashtra) followed with a gain of 9%, while Tata Chemicals also rose by 8.9%.

Additionally, other stocks such as Tata Elxsi, Tata Technologies, and Tata Power Company also recorded gains exceeding 3%. Ahead of the Q2 earnings announcement today, TCS shares were also trading in the green, with a rise of nearly 1%.

Also Read | Ratan Tata Death: Why the legendry industrialist stayed away from politics

The whole country is paying tribute to the legendary Ratan Tata, who played a pivotal role in shaping one of India’s oldest conglomerates into a global empire through a series of visionary and eye-catching deals.

Ratan Tata, who passed away on Wednesday at the age of 86, was not only a business leader but also a symbol of innovation and philanthropy. In the wake of his passing, the stock market is also reflecting this sentiment, with investors rallying to honour his legacy by buying shares in Tata Group companies.

Despite Axis Capital retaining its 'reduce' rating on Tata Technologies with a target price of 950 apiece, the stock jumped 4% today to 1,089 apiece, reflecting positive sentiment towards Tata group stocks. 

Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels. Ratan Tata, while pursuing the group’s growth, contributed substantially to India’s growth and millions of ordinary investors gained from the great man’s vision.

Also Read | Tata chose startups more on ‘intuition’, less on numbers

"Also, investors should learn from the growth of the Tata empire that a long-term investment horizon is required to really participate in the wealth creation that happens through the capital market. In a bull market like the present one, there will always be valuation concerns. But great companies like the ones Ratan Tata built will create wealth for investors in the long run," he added.

Visionary Expansion: How Ratan Tata took Tata Group global

Under Ratan Tata's leadership from 1991 to 2012, the Tata Group underwent significant transformations, expanding its global presence and diversifying its business portfolio. His tenure was marked by a strong emphasis on innovation, philanthropy, and sustainability, which helped transform the Tata Group into a leading global conglomerate.

Ratan Tata spearheaded the group's expansion into new sectors, including, telecommunications, and retail, while overseeing the acquisition of iconic brands such as Jaguar Land Rover, Corus Steel, and Tetley Tea. During his leadership, the Tata Group achieved several milestones, including surpassing $100 billion in revenue, and launching the Tata Nano, the world's most affordable car.

Also Read | Ratan Tata family tree: Nusserwanji, Jamsetji to Maya Tata; see all members

One of his most significant achievements was revitalizing Tata Motors. Under his leadership, the company’s passenger vehicle business, once on the verge of being sold, made a strong comeback with the successful launch of the Tata Indica in 1998. The model quickly became a leader in the Indian car market within two years. 

The company achieved profitability by 2003-2004, and in the following years, Tata Motors expanded its global footprint by acquiring Jaguar Land Rover in 2008.

Tata Motors also launched India's first SUV, the Tata Safari, and in 2020, it introduced India's first electric SUV, the Nexon. Understanding the needs of the common man, Ratan Tata also launched the Tata Nano, further solidifying his commitment to affordable innovation. 

Tata Group now operates in more than 100 countries across six continents. Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six per cent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture.

Also Read | Ratan Tata’s net worth: Titan who steered industrial behemoth shunned rich list

In 2023-24, the revenue of Tata companies, taken together, was more than $165 billion. These companies collectively employ over 1 million people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 26 publicly-listed Tata enterprises with a combined market capitalisation of more than $365 billion as of March 31, 2024.

 

 

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First Published:10 Oct 2024, 10:34 AM IST
Business NewsMarketsStock MarketsTata Elxsi, TTML to Tata Power: These Tata group shares jump up to 15% in stock market today

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