The group has about 30 companies listed on the bourses, with Tata Technologies being the latest addition from the group.
Tata Group’s combined market capitalisation crossed Rs 30 lakh crore on February 6, making it the first Indian business house ever to hit the milestone. The surge in shareholder wealth has been driven by buying interest seen in Tata Consultancy Services, Tata Motors Tata Power and Indian Hotels shares this fiscal year of 2023-2024. To subscribe please click tau.id/2iy6f and access our live channel.
On Tuesday after the largest group company by market valuation, Tata Consultancy Services (TCS), rose to its fresh record high with shares holding of TCS surged more than 4% in Tuesday’s trade to hit a record high of ₹4,135.90 on the National Stock Exchange (NSE).
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The conglomerate surged over 9 percent so far in 2024 while Tata Motors Ltd advanced over 20 percent. Tata Power jumped 18 percent while Indian Hotels gained 16 percent. Meanwhile, Tejas Network, Tata Elxsi and Tata Chemicals dropped over 10 percent.
The boost is attributed to encouraging deal wins in Q3FY24, with a total contract value of $8.1 billion, up 3.8 percent from the previous year. The management expressed confidence in long-term growth, anticipating client investments to increase as the challenging macro conditions subside.
TATA Consultancy Services (TCS) reached a new high on February 6 surging over 4 percent and crossing the market cap of Rs. 15 lakh crore. However, this year the remaining listed company stocks gained in the range of 1-5 percent. The Tata Group has 24 companies listed on exchanges.
While Tata Motors, along with Titan Company, added another ₹7 lakh crore to the group’s valuation, others like Tata Steel, Tata Power Co, Trent and Tata Consumer Products also boast a minimum market capitalisation of ₹1 lakh crore.
