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%.

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