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Business News/ Markets / Stock Markets/  Tata Investment Corp shares extend gains for 7th day, touch new all-time high
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Tata Investment Corp shares extend gains for 7th day, touch new all-time high

Tata Investment Corp's shares surged by nearly 15% in today's trading session, reaching a record high of ₹6,725 per share. The surge marks a cumulative return of 23.40% over the past six days, attributed to increased trading volumes.

Tata Investment Corporation is a non-banking financial company (NBFC) promoted by Tata Sons. (Bloomberg)Premium
Tata Investment Corporation is a non-banking financial company (NBFC) promoted by Tata Sons. (Bloomberg)

Extending its strong upward trend for the seventh consecutive trading session, shares of Tata Investment Corp, an NBFC, surged by nearly 15% in today's intraday session, reaching a record high of 6,725 per share. 

The session concluded with the stock settling at 6,474 per share. This surge marks a cumulative return of 24% over the past seven days. Today's surge can be attributed to a significant increase in trading volumes, which were 9.43 times higher than the weekly average.

Also Read: Tata vs. Pakistan: Indian conglomerate market value now bigger than neighbour's GDP

Tata Investment Corporation is a non-banking financial company (NBFC) promoted by Tata Sons. The company is registered with the Reserve Bank of India under the category of an investment company. It is engaged in the business of investing in listed and unlisted equity shares, debt instruments of companies in a wide range of industries, and mutual funds. 

The major sources of income for the company consist of dividend income and profit from the sale of investments. 

The company's shares stood out as one of the most prolific wealth generators in the Indian stock market. Since CY20, the shares have consistently closed each year in positive territory. Notably, in CY23, they achieved a multi-bagger return of 103%. This year alone, the stock has already surged by 51.21%.

Also Read: Tata Group companies to invest 2,300 crore in manufacturing hub in Karnataka

Taking a broader view, over the past decade, the stock has surged from 406 apiece to 6476, marking an extraordinary return of nearly 1400%.

In the recent December quarter, the company posted 53 crore in consolidated net profit, a 51.42% YoY improvement, while it posted revenue from operations of 51 crore, a 34.21% surge compared to 38 crore posted in the same period last year.

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.

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Published: 21 Feb 2024, 04:40 PM IST
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