Tata Group becomes first Indian conglomerate to cross ₹30 lakh crore market cap; Details here | Mint
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Business News/ Markets / Stock Markets/  Tata Group becomes first Indian conglomerate to cross 30 lakh crore market cap; Details here
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Tata Group becomes first Indian conglomerate to cross ₹30 lakh crore market cap; Details here

This remarkable surge in shareholder wealth has been primarily fueled by the notable interest in shares of Tata Consultancy Services, Tata Motors, Tata Power, and Indian Hotels throughout the year.

Tata Group's combined market cap surges ₹30 lakh crore on Tuesday. Photographer: Dhiraj Singh/Bloomberg (Bloomberg)Premium
Tata Group's combined market cap surges 30 lakh crore on Tuesday. Photographer: Dhiraj Singh/Bloomberg (Bloomberg)

Tata Group's combined market capitalisation soared past 30 lakh crore, marking a historic moment for Indian business. This remarkable surge in shareholder wealth has been primarily fueled by the notable interest in shares of Tata Consultancy Services, Tata Motors, Tata Power, and Indian Hotels throughout the year.

Tata Consultancy Services Ltd has witnessed an impressive surge of over 9 percent since the beginning of 2024, while Tata Motors Ltd has advanced by over 20 percent. Additionally, Tata Power has seen a substantial jump of 18 percent, and Indian Hotels has gained 16 percent. It's noteworthy that the Tata Group boasts 24 companies listed on exchanges.

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However, amidst this upward trajectory, Tejas Network, Tata Elxsi, and Tata Chemicals have experienced declines of over 10 percent so far this year, contrasting with the positive performance of the remaining stocks, which have recorded gains ranging from 1 to 5 percent.

A highlight of this surge was observed in TCS stock, which reached a new pinnacle on February 5, soaring over 4 percent and achieving a market capitalization of 15 lakh crore. 

This boost is attributed to the company's encouraging deal wins in Q3FY24, with a total contract value of $8.1 billion, reflecting a notable increase of 3.8 percent from the previous year. The management has expressed confidence in long-term growth prospects, anticipating a rise in client investments post challenging macroeconomic conditions.

Also read: China's Shanghai index up 3% since March 2022, CSI 1000 index rises 8% in biggest one-day jump

Tata Power has demonstrated growth in the year 2024, reflecting the positive trajectory observed in the power and energy sector. The prospect of further momentum is attributed to the government's heightened focus on expanding the utilization of renewable energy, as highlighted in the Interim Budget 2024. Positioned as a prominent private sector entity, Tata Power boasts a significant clean energy portfolio totaling 5,500 MW, encompassing solar, wind, and hydropower sources.

Indian Hotels has sustained a robust performance across essential indicators, buoyed by strong demand dynamics. The optimistic outlook conveyed by the management is reassuring, prompting analysts to anticipate a robust earnings trajectory in the forthcoming years, bolstered by a variety of growth catalysts.ls

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Published: 06 Feb 2024, 05:36 PM IST
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