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Shares of Tata Investment Corporation Ltd surged in Tuesday's trading session to hit a record high of 2,096 apiece by rallying over 6% intraday on the BSE. The stock has been in an uptrend since the past few sessions as it has risen more than 30% in the last two weeks.

Promoted by Tata Sons, Tata Investment Corporation Limited (TICL) is a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI). Earlier named The Investment Corporation of India, the company is primarily involved in investing in long-term investments such as equity shares and equity-related securities. The Tata Group stock is up over 62% in a year's period.

For the first quarter ended June 2022 or Q1 FY23, Tata Investment Corporation reported a 66.5% increase in consolidated net profit at 89.7 crore, driven by higher dividend income. The company had posted a consolidated profit after tax of 59.8 crore in the same quarter of the previous fiscal.

Its total revenue from operations during the quarter under review stood at 102 crore as compared to 62 crore in the year-ago period. The company's dividend income stood at 74 crore as against 41 crore in the corresponding period a year ago.

The company’s activities comprises primarily of investing in long term investments in equity shares, debt instruments, listed and unlisted, and equity related securities of companies in a wide range of industries. The major sources of income of the company consist of dividend, interest and profit on sale of investments. 

TICL co-promoted TATA Asset Management Company Ltd with TATA Sons Ltd. in 1994. TATA Sons holds 68% while TICL holds 32% of TATA AMC Ltd. Tata Asset Management (TAM) is one of the first fund management companies in the Indian private sector. The company’s principal activity is to act as investment manager to the Tata Mutual Funds. Tata Sons is the principal investment holding company and promoter of Tata companies. 

 

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