Tata Group stock rallies 5% after falling for 11 sessions: What changed and what to expect

Tata Group stock price: Shares of Tata Investment Corporation jumped about 5% to the day’s high at ₹5,940 on BSE after falling for 11 consecutive sessions. This comes after it was reported that the conglomerate is planning several IPOs in the next 2-3 years which will help “Tata Sons to unlock value, fuel future growth, and provide exit options for select investors”.

Read more: Goldman Sachs raises Reliance Industries stock target price with ‘buy’ rating, sees 54% upside

Tata Capital, Tata Autocomp Systems, Tata Passenger Electric Mobility, BigBasket, Tata Digital, Tata Electronics, Tata Housing, and Tata Batteries could come out with IPOs in the next 2-3 years, Economic Times reported.

Hindustan Times – your fastest source for breaking news! Read now.

As per the report, a person in the know said, “The decision to approach the capital markets is always strategic, and not really a plan to rush into an IPO for the sake of it.”

An executive told the Economic Times, “Many of the businesses seeded over 20 or 25 years ago are now in a growth phase and in shape to be monetised. Also, calculated decisions are being taken by specific companies in discussions with Tata Sons.”

Read more: Stock market today| Zomato shares hit fresh all-time high second day in a row: More upside expected?

Earlier, Tata Investment and Tata Chemicals shares were in focus as Tata Sons was expected to get listed but later it was reported that the company was exploring means to avoid getting listed on stock exchanges under RBI rules.

Read more: Stock market today: CDSL share price falls over 6%. Here’s why

This month, Tata Sons sold 2.43 crore shares or 0.64% equity in subsidiary Tata Consultancy Services (TCS) in a ₹9,000 crore block deal and Tata Sons’ subsidiary Tata Electronics committed to invest ₹91,000 crore to build a semiconductor fabrication plant in Gujarat’s Dholera.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it’s all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs

• ABOUT THE AUTHOR

  

  Follow the latest breaking news and developments from India and around the world with Hindustan Times’ newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we’ve got you covered.