Mar 11, 2024 12:07 PM IST
Tata stocks share price: In the last week, many Tata Group stocks surged up to 36 per cent. Tata Investment Corp stock fell to 5 per cent today.
Tata stocks share price: Shares of several Tata group firms fell up to 10 per cent today (March 11). This comes as it was reported that Tata Sons is unlikely to go for an initial public offering (IPO) in near future. In the last week, many Tata Group stocks surged up to 36 per cent and became the four best-performing stocks in the BSE500 pack.
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Tata stocks which have fallen today
Tata Investment Corp stock fell to 5 per cent and Tata Technologies and Tata Consumer Products stock fell around 3 per cent each. Tata Teleservices fell 2 per cent. Tata Steel and Tata Power Company stocks were down over a per cent while Indian Hotels Company stock fell nearly a per cent. Tata Motors shares were also down half a per cent today.
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Tata Sons IPO
Tata Sons is registered as a CIC with the Reserve Bank of India (RBI). It has also been classified as an “upper layer” NBFC which requires the company to list on exchanges within three years of being notified. In September 2023, the RBI issued a notification to this effect for Tata Sons owing to which it had to list by September 2025.
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If launched, Tata Sons’ IPO was reportedly estimated to be the biggest ever, even surpassing Life Insurance Corporation of India’s ₹21,000 crore offer.
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