Tata Group shares halt rally; drop up to 10% as Tata Sons looks to avoid IPO
After gaining nearly 40% in the last six sessions, Tata Chemicals declined 10.3% on Monday; Tata Motors, Tata Power, Tata Investment Corp fell up to 5%.
After gaining nearly 40% in the last six sessions, Tata Chemicals declined 10.3% on Monday; Tata Motors, Tata Power, Tata Investment Corp fell up to 5%.
Shares of Tata Power have fallen over 8% in two sessions after hitting a 52-week high of ₹412.75 in intraday trade on Friday.
For the first nine months of the current fiscal, the profit grew 13% YoY to ₹3,235 crore, while revenue rose 5% to ₹45,286 crore.
In the last four months, the m-cap of Tata Group increased by ₹5 lakh crore, driven by sustained rally in heavyweights such as TCS, Tata Motors, Tata Power, and Indian Hotels.
Production-linked incentives start making India self-reliant in key sectors.
Tata Power Solar Systems has signed a contract worth ₹418 crore with NTPC to supply solar PV modules for its Nokh Solar Park in Rajasthan.
This is the sixth Tata Group company that has an m-cap of over ₹1 lakh crore after TCS, Titan Company, Tata Motors, Tata Steel, and Trent.
The transmission project, having estimated cost of ₹1,544 crore, to enable evacuation of 7.7 GW of green power from the Bikaner Complex in Rajasthan
Identifies 9000 MW of three new projects in Raigad district in Maharashtra
The revision in outlook reflects the possibility of better-than-expected business risk profile if the improvement in operating profitability in fiscal 2024