 "Tata Group shares in focus, rally up to 20%")
Shares of Tata Group companies were in focus, trading higher by up 20% on BSE in otherwise range-bound market.
Nelco, Tata Investment Corporation and Tinplate Company were up between 5% and 20%, while Tayo Rolls, TRF, Tata Power Company, Titan Company, Tata Sponge Iron, Tata Motors and Trent were up in the range of 2% to 4% on BSE. On comparison, the S&P BSE Sensex was up 0.15% at 31,357 at 11:00 am. Tata Consultancy Services (TCS), Voltas and Rallis India however, were down less than 1%.
Nelco, Tata Investment Corporation and Tinplate Company were up between 5% and 20%, while Tayo Rolls, TRF, Tata Power Company, Titan Company, Tata Sponge Iron, Tata Motors and Trent were up in the range of 2% to 4% on BSE. On comparison, the S&P BSE Sensex was up 0.15% at 31,357 at 11:00 am. Tata Consultancy Services (TCS), Voltas and Rallis India however, were down less than 1%.
Tata Investment Corporation (up 10% at Rs 789) and Tata Steel (up 1% at Rs 525) hit their respective 52-week high on Tuesday in intra-day trade.
Nelco is locked in upper circuit of 20% to Rs 96.30 on back of heavy volumes. A combined 3.08 million shares changed hands and there were pending buy orders for 630,081 shares on BSE and NSE so far.
Nelco, a Tata Enterprise firm, is focused on helping its enterprise & government customers unlock potential by offering solutions in the areas of Integrated Security & Surveillance, VSAT connectivity (Tatanet VSAT), Managed Services, Satcom Projects and Meteorological Solutions.
US defence giant Lockheed Martin and India’s Tata group signed an agreement on Monday to jointly build the F-16 Block 70 fighter in India, should New Delhi opt for the American aircraft in the procurement of single-engine fighters for its air force. CLICK HERE TO READ FULL REPORT.
Tata Steel hit a fresh 52-week high of Rs 534, up 1%, extending its Monday’s 3.4% gain on BSE, after the company said that it proposes to sell 83.6 million equity shares of face value of Rs 2 each of Tata Motors to Tata Sons.
On Saturday, Tata Sons said it would buy 83.6 million shares or 2.85% stake in Tata Motors from Tata Steel on or after June 23.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| NELCO | 96.30 | 80.25 | 20.00 |
| TATA INV.CORPN. | 778.80 | 714.65 | 8.98 |
| TINPLATE CO. | 93.10 | 88.80 | 4.84 |
| TAYO ROLLS | 58.35 | 55.90 | 4.38 |
| TRF | 248.05 | 238.75 | 3.90 |
| TATA POWER CO. | 80.60 | 78.00 | 3.33 |
| TITAN COMPANY | 528.15 | 513.35 | 2.88 |
| TATA MOTORS | 463.30 | 452.30 | 2.43 |
| TATA SPONGE IRON | 834.80 | 815.25 | 2.40 |
| TRENT | 249.45 | 245.30 | 1.69 |
| TATA CHEMICALS | 624.00 | 616.65 | 1.19 |
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