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Business News/ Markets / Stock Markets/  Tata Investment Corp shares rises 5%, rallied 18% in last five days; Here's why

Tata Investment Corp shares rises 5%, rallied 18% in last five days; Here's why

Tata Investment shares rose as much as 18 percent in the last five trading sessions on NSE.

Tata Investment Corp Photo: BloombergPremium
Tata Investment Corp Photo: Bloomberg

The shares of Tata Investment Corp were up 5 percent on Monday's trading session. Tata Investment stock closed at 8,428 per share on March 4, against previous close at 8,027 on March 1.

In fact, Tata Investment shares rose as much as 18 percent in the last five trading sessions on NSE. The Tata Group's non-banking financial company surged after Union Cabinet approved two semiconductor plant proposals by the Tata Group last week.

Also read: Azad Engineering IPO gives 170% return to allottees in two months of share listing

Notably, this marked the third consecutive upper circuit observed in the stock, reflecting significant investor confidence and positive market sentiment surrounding the company's prospects following the recent developments.

Tata Electronics, in collaboration with Powerchip Semiconductor Manufacturing Corp (PSMC) from Taiwan, is poised to establish a semiconductor fabrication facility. This state-of-the-art unit will be located in Dholera, Gujarat, and is expected to draw an investment of 91,000 crore.

The Cabinet has given its approval for the establishment of Tata Semiconductor Assembly and Test Pvt Ltd's chip assembly and testing unit in Assam, with an investment totaling 27,000 crore. This significant investment marks the Assam government's maiden venture into semiconductor packaging facilities. The project will be a collaborative effort between the state government and the esteemed Tata Group.

“This marks the beginning of a new era for India. Tata Electronics is proud to play a prominent role in strengthening the global semiconductor ecosystem. Our partnership with PSMC provides access to a broad technology portfolio in leading edge and mature nodes including 28nm, 40nm, 55nm, 90nm & 110nm, and also collaboration for high-volume manufacturing. We are confident that the upcoming Fab will support our ambitions of “Make in India, For the World". We will be able to serve our global customers’ requirements for supply chain resilience and meet the growing domestic demand," said Dr Randhir Thakur, MD, and CEO, Tata Electronics.

Also read: NTPC share price rises 4%, scales 52-week highs: Should you Buy, Sell or Hold?

Over the past three months alone, it has delivered returns exceeding 100% to its investors. Impressively, the stock has surged by over 240 percent in the last six months, a remarkable achievement. Furthermore, its upward trajectory continues with gains of 310 percent over the past year and an exceptional surge of 540 percent over the last two years. Such consistent and substantial growth underscores the company's strong performance and investor confidence in its prospects.

During the third quarter of fiscal year 2024, the company recorded a substantial 62 percent year-on-year increase in its standalone net profit for the period ending on December 31, 2023, reaching 24.08 crore. This marks a significant surge from the profit after tax (PAT) of 14.85 crore reported in the corresponding period of the previous year.


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Published: 04 Mar 2024, 04:33 PM IST
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