In Tuesday's trading, Tata Investment Corporation Ltd. surged more than 13 percent to reach the Rs 10,000 per share mark for the first time. As Tata Capital's IPO and the date of the company's stock split approach, the stock increased 13.14% to reach a peak of Rs 10,000.50 per share on the BSE. With a 45 percent increase over the previous month, Tata Investment Corporation is now the top Nifty Midcap index gainer.
Key Highlights
- Tata Investment shares rally over 17% to breach ₹10,000, fuelled by Tata Sons’ listing anticipation.
- The stock’s leap aligns with an upcoming 1:10 stock split and heightened investor interest.
A diverse portfolio of quoted and unquoted securities from businesses, including Tata Companies, is invested in by Tata Investment Corporation. It is promoted by Tata Sons Private Limited.
Tata Investment Corporation owned 2.1% of Tata Capital, whose initial public offering (IPO) is scheduled to begin on October 6. One of the two selling shareholders would be Tata Sons, which owned 68.51 percent of Tata Investment Corporation and 88.6 percent of Tata Capital.
The announcement of a 1:10 stock split by Tata Investment has also made headlines. This is the first time the Tata Group company has taken corporate action. The record date for the same is October 14.
Also Read: Tata Capital Prepares for Rs 174.53 Bn IPO Ahead of RBI Deadline
Among the promoters of Tata Investment Corporation are Trent, Tata Power Company, Tata Chemicals, Tata Steel, and Tata Consumer Products.
