Tata Investment share price rises 20%, reaches all-time high; here’s why
Tata Investment Corporation share price, on Tuesday, witnessed an impressive surge of 20 percent , reaching an all-time high of ₹5,794 on the NSE. This remarkable uptrend followed the company’s robust financial performance, with a consolidated net profit (PAT) of ₹53.2 crore for the quarter ending December 2023, reflecting a substantial 53 percent year-on-year increase.
The company’s revenue from operations demonstrated a noteworthy growth of 36.87 percent year-on-year, reaching ₹51.6 crore. Furthermore, the earnings before interest, tax, depreciation, and amortization (EBITDA) experienced a remarkable ascent, soaring by 40 percent year-on-year to ₹44.2 crore in the third quarter.
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Tata Investment stock has gained nearly 129.21 percent in the last six months and 172.37 percent in the last one year, nearly tripling the investment of its shareholders. In contrast, the benchmark Nifty 50 has seen a comparatively modest rise of 23% over the same period.
The stock displays a one-year beta of 0.3, signaling a state of low volatility. Additionally, it is noteworthy that the stock is currently trading above its 5-day, 10-day, 50-day, 100-day, and 200-day moving averages.
The company demonstrated a noteworthy improvement in its EBITDA margins, reaching 87.36 percent compared to 83.91 percent a year ago. Moreover, the earnings per share (EPS) surged to ₹10.5 in the third quarter of the fiscal year 2023-24. In addition to the Profit After Tax (PAT), the holding company achieved significant gains, with profits of ₹64.65 crore realized from the sale of equity investments, contributing to retained earnings in the balance sheet.
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Tata Investment Corporation predominantly engages in long-term investments, focusing on equity shares and equity-related securities. The company strategically builds a diversified portfolio comprising both listed and unlisted securities. This portfolio encompasses various businesses, notably including Tata Group companies, characterized by a track record of robust operating and financial performance.
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Published: 30 Jan 2024, 04:37 PM IST
