Rs 5837 To Rs 7115 In 2-Days: Multibagger Tata Stock Hits 2nd Consecutive 52-Week High

Tata Group company Tata Investment Corporation Ltd shares have been breaking all records in the last few days. The stock has been witnessing a sharp upward rally thus offering stellar returns to investors.

Tata Investment Corporation shares zoomed from Rs 5837 apiece (as on February 20, 2024) to Rs 7115 apiece (as on Feb 22, 2024), offering precisely 21.88% return in just 2-days. Tata Investment Corporation shares offered investors return of 26% in last 1-week and rallied 187% in just last 6-months. Check details below:

Why Tata Investment Corporation Ltd Shares Have Been Soaring For Last Few Days? Tata Investment shares have been soaring since the start of February month after report emerged that government bagged 9 bids from several companies that included Tata Group and Tower Semiconductor for overhaul of its Semiconductor Laboratory (SCL) in Mohali, as reported in Economic Times. It is worth mentioning that government has allocated approximately $1 billion for modernization of the 48-year old facility.

Tata Investment Corporation Shares Performance & Return: Tata Investment Corporation shares have scaled its new one year high as well in trade today. The stock hit 2nd consecutive 52-week high today. Tata Investment Corporation shares also witnessed spurt in volume by more than 8.67 times today and 3.91 times yesterday. Last trading price of Tata Investment Corporation shares on BSE on Feb 22 is Rs 6973.35 apiece with intraday gain of 7.67%.

The stock hits its new 1-year high today when share price soared to Rs 7,115.00 apiece in trade today. Tata Investment Corporation shares gained 64% year-to-date (YTD), soared 248% in last 1-year, and gained 417% in last 2-years. In last 3-years, the scrip rose 564% and 744% in last 5-years.

Meanwhile, BSE and NSE put securities of Tata Investment under the long-term ASM (Additional Surveillance Measure) framework. Bourse keep stocks under short-term or long-term ASM frameworks to alert investors about strong volatility in share prices.

Tata Investment Corporation Dividend History: Tata Investment Corporation announced 28 dividends since September 4, 2000. In the last 12 months period, Tata Investment Corporation shares announced an equity dividend amounting to Rs 48.00 per share. If the current share price of Rs 6973.35 is taken into consideration, Tata Investment Corporation offers dividend yield of 0.69%, according to Trendlyne.

Tata Investment Corporation Technical Analysis: The stock's RSI is 71.1, RSI above 70 is considered overbought. This implies that stock may show pullback, according to Trendlyne. The Day Momentum score is 69.9. If the score is 69.93, stock is technically moderately strong. Stocks with score between 60 and 70 are considered as technically Moderately Strong, added Trendlyne data.

Tata Investment Corporation Financials: The company declared its quarterly results on January 29, 2024. It announced a jump of 53% on-year in its consolidated net profit to Rs 53.2 crore for the quarter ended December 2023. The company informed its revenue from operations jumped 36.87% on year to Rs 51.6 crore and EBITDA soared 40% on-year to Rs 44.2 crore for the quarter under consideration. Its EBITDA margins rallied to 87.36% from 83.91% an year ago. Meanwhile, earnings per share (EPS) rose to Rs 10.5 in Q3 FY24.

About: Tata Investment Corporation Limited was promoted by Tata Sons 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, according to its official website.

Disclaimer: The stock highlights the rally in shares and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.