Ratan dies, Tata Group stocks to be in spotlight in market today

Tata Group stocks are all set to remain in focus on Thursday's trading session following the demise of Ratan Tata, the chairman emeritus of Tata Sons and a legendary industrialist who played a key role in developing one of India’s largest and most influential conglomerates.

Tata Group stocks have shown significant growth in 2024, experiencing a 15.4 percent surge in collective market capitalisation since June, driven by strong performances from key companies like Tata Consultancy Services and Tata Motors.

The Tata stocks offer diversification across various sectors, consistent dividend payments, and the potential for capital growth, making them a solid choice for generating long-term wealth.

After the passing of Ratan Tata, investors will be closely watching the Tata Group's succession plan, as it will be a key factor influencing the company's performance in the Indian stock market.

TCS Q2 earnings

Tata Consultancy Services (TCS) is set to announce its earnings for the quarter ending September 30. The company has notified the market of this development through an exchange filing.

On Thursday, TCS's share price ended in the green, 0.13 percent higher on October 9 at ₹4,258 per share on the National Stock Exchange (NSE), a day before Q2 earnings announcement.

Recently, the Tata Group company, Tata Technologies, which was one of the most-hyped IPO of 2023, made a bumper debut on the Indian stock market.  Tata Technologies' IPO, launched in November 2023, was the Tata Group's first IPO in over 19 years. It also achieved the third-highest closing gains on its listing day in the history of the Indian capital market.

Tata Technologies

Tata Technologies made its debut on both stock exchanges on November 30, opening at ₹1,200 and closing at ₹1,328 on the NSE, representing an impressive 140 percent premium to the IPO price. The IPO, consisting of an offer-for-sale (OFS) of 6.08 crore shares by the promoters Tata Motors, as well as investors Alpha TC Holdings and Tata Capital Growth Fund 1, attracted overwhelming interest from both retail and institutional investors, receiving over 73.38 lakh applications in total. The public offering was oversubscribed by 69.43 times.

(By arrangement with livemint.com)