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Shares of Tata group are witnessing an upsurge in the early trades and have gained between 1-2% on the Bombay Stock Exchange (BSE).
Shares of Tata Power have rebound in today’s trade and is up 2% after showing a sharp declination in the recent past after a massive power failure in Mumbai on September 2 due to technical snags at Tata Power’s 500-Mw Trombay plant occurred. Concerned over the outage, the state government had asked the committee to look into the causes and recommend short and long-term measures to prevent recurrence.
Meanwhile, Tata Steel which plunged nearly 2% on weak Chinese economic data has gained nearly 1% in the early morning trades. The industrial output of China rose 6.9% in August from a year earlier - the lowest since 2008 when the economy was buffeted by the global financial crisis - compared with expectations for 8.8% and slowing sharply from 9.0% in July.
Also, Tata Consultancy Services (TCS) has appreciated by nearly 1% on upbeat US economic data that indicated growth in the world's largest economy is gaining momentum.
At 10.20 AM, benchmark index Sensex is trading at 26,661 levels up by 169 points or 0.64%.
