Tata Investment Corp Shares Surge 20% to Record High on Q3 Profit Jump

30 Jan 2024 , 02:50 PM

Tata Investment Corporation Ltd’s shares surge by 20 % to a record high of ₹5,794 on the NSE on January 30 following a 53 % YoY increase in consolidated net profit (PAT) to ₹53.2 crore for the quarter ended December 2023.

The company’s revenue from operations witnesses a 36.87 % YoY climb to ₹51.6 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) show a 40 % YoY increase to ₹44.2 crore in Q3.

Tata Investment Corp’s EBITDA margins rise to 87.36 % from 83.91 % a year ago. The earnings per share (EPS) reach ₹10.5 in Q3 FY24. The holding company also realizes profits of ₹64.65 crore on the sale of equity investments, credited to retained earnings in the balance sheet.

Over the last year, Tata Investment Corp stock rises by 173.95 %, nearly tripling investors’ money, while the benchmark Nifty 50 increases by 23 % during the same period.

The stock has a one-year beta of 0.3, indicating low volatility, and is trading higher than the 5-day, 10-day, 50-day, 100-day, and 200-day moving averages.

Tata Investment Corporation primarily engages in long-term investments, including equity shares, equity-related securities, debt instruments, mutual funds, and diverse portfolios of listed and unlisted securities of companies, especially Tata Group companies with a history of strong operating and financial performance across various industries.

For feedback and suggestions, write to us at [e-mail]