Multibagger Tata Group Stock Soars 13.68% Today, Rallies 38% In 1-Week

Tata Group mid cap stock from the finance sector Tata Investment Corporation Limited (TICL) witnessed a sharp surge of 13.68% at the time of writing the story. Tata Investment Corporation has given multibagger returns to investors last 6-months only with gain of 100.96%. TICL shares gained 37.81% in last 1-week. Earlier, TICL stock hit 20% upper circuit on November 17 and today it hit new 52-week high in trade on BSE. Why shares of Tata Investment Corporation have been recording such sharp rally in last 2 days? Let us find out below:

The sharp surge in TICL stock came as Tata Technologies Initial Public Offer or IPO is expected to open on November 22, 2023. It is worth mentioning here that Tata Technologies is a subsidiary of Tata Motors and Tata Investment Corporation Limited (TICL) is a promoter group entity in Tata Motors. Interestingly, the upcoming IPO will emerge as the first by Tata Group in almost 20 years.

Tata Investment has stakes in approximately 6 listed Tata Group companies namely Tata Chemicals, Tata Consumer Products Ltd, Trent, Tata Elxsi, Tata Steel and Tata Consultancy Services (TCS).

Price band for Tata Technologies IPO has been set at Rs 475-Rs 500 apiece. Investors keen to apply for the Tata Tech IPO may bid for a minimum of 30 shares and multiples of 30 shares thereafter.

TICL Appoints Vaibhav Goyal As General Manager: Tata Investment Corporation informed about the appointment of Vaibhav Goyal as the General Manager. Vaibhav Goyal is a Chartered Accountant and Chartered Financial Analyst with an experience of more than 15 years covering key sectors at various position of Indian equity market.

TICL Stock Performance & Return: Current market price of Tata Investment Corporation share is Rs 4445.00 per share with intraday gain of 13.68%. Tata Investment Corporation stock hit fresh 52-week high today. Its 52-week high price is Rs 4521.90 per share and 52-week low price is Rs 1735.00 per share, respectively. TICL shares gained 77% in last 3-months, soared 110% YTD, gained 88% in last 1-year, and surged 192% in last 2-years. In last 3-years, TICL stock surged 383% and gained 413% in last 5-years.

TICL About: Tata Investment Corporation Limited (TICL) is a non-banking financial company. Earlier named The Investment Corporation of India, the company is primarily involved in investing in long-term investments such as equity shares and equity-related securities.

Tata Investment Corporation Limited was promoted by Tata Sons Pvt Ltd., in 1937, under the name The Investment Corporation of India Limited. The Company remained a closely held company till 1959, when it became one of the few publicly held investment companies listed on the Stock Exchange, Mumbai. During the 1960s and 1970s the Company's activities underwent a gradual transformation from assisting in the establishment of new ventures, to acting as an investment company with a diversified portfolio of investments.

The Company became a subsidiary of Tata Sons Ltd. in February, 2008. Tata Sons, together with other Tata companies, holds approximately 72.98% of the paid-up capital of Tata Investment Corporation Limited. as on 31th March, 2018.