Tata Technologies debut propels Tata Group’s market cap to Rs 26
时间:2024-06-29 02:18:13 阅读(143)
The bumper debut of Tata Technologies on Dalal Street led to a surge in the conglomerate’s overall market capitalization, reaching a new high of Rs 26.20 lakh crore on Thursday. The engineering unit of Tata Motors witnessed an astounding 180% rally on its debut, marking one of the most substantial gains for a public offering of its size.
With the exception of Rallis India, all Tata Group companies have posted positive returns in 2023. Notably, Benares Hotels, Automotive Stampings & Assemblies, and Trent have more than doubled their stock values since January, while Tata Motors and Tata Investment Corporation recorded impressive surges of 81% and 94%, respectively. Tata Motors also holds the title of the top gainer on the Nifty 50 for the year.
Tata Technologies, boasting a market capitalization exceeding Rs 53,000 crore, now stands as the ninth most valued Tata Group company. Notably, the newly listed company contributes more than 2% to the overall group market capitalization, surpassing the contributions of Tata Elxsi, Tata Communications, Voltas, and Tata Chemicals.
In a shift from previous trends, most group companies have actively participated in the ongoing market rally. TCS, the group’s largest firm, which once represented nearly 75% of the group’s overall market capitalization in 2020, now constitutes less than 50% of the total.
Leading contributors to the market capitalization addition include Tata Motors, Titan, and Trent. Tata Motors alone has witnessed a staggering Rs 1.2 lakh crore increase in market capitalization in 2023, while Titan and Trent have seen growths of ₹75,000 crore and ₹50,000 crore, respectively.
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