This Tata Group stock hit record high today; nearly doubles in 2 months

Shares of Tata Investment Corporation were locked in the 5-per cent upper circuit at Rs 8,417.65, also its new high, on the BSE on Monday at 02:41 PM. Nearly 47,000 shares have, thus far, changed hands on the BSE and NSE together, and there are pending buy orders for around 15,000 shares.

The stock of the Tata Group investment company was trading higher for a fourth straight day, surging 20 per cent during the period, after shifting into trade-to-trade (T group) segment. In the T2T segment, each trade has to result in delivery and no intraday netting of positions is allowed.

In the past two months, the stock price of Tata Investment has nearly doubled from a level of Rs 4,245.95. While, in the past six months, the stock has zoomed 242 per cent.

The rise in stock price of the company came amid reports that Tata Group has received nod to set up 2 semiconductor plants.

The company, however, has clarified that it has not entered into any discussion for investment in any semiconductor manufacturing or operating activity of the plant as referred to in news article, as on date.

Meanwhile, in a significant step towards creating an indigenous ('Make in India, For the World') semiconductor ecosystem in India, the Government of India, last week, approved a proposal from Tata Electronics to build a mega semiconductor fabrication facility ('Fab') in Dholera, Gujarat in partnership with PSMC. The fab construction will begin this year with a total investment of up to Rs 91,000 crore ($11 billion). CLICK HERE FOR FULL REPORT

Tata Investment and its subsidiary, a non-banking financial company (NBFC), registered with the Reserve Bank of India (RBI) under the category of Investment Company, is primarily engaged in the business of investment in listed and unlisted equity shares, debt instruments and mutual funds etc. of companies in a wide range of industries.

As of December 31, 2023, Tata Sons Private Limited, along with other promoter shareholders, held 73.4 per cent stake in TICL. According to the company's management, India remains a bright spot and remains optimistic that Indian equity indices may record double-digit returns in FY24. The company's portfolio is a mix of listed Tata and diversified non-Tata equities, unlisted equities, and fixed income securities.

Meanwhile, the Tata group is considering selling a 5 per cent stake in Tata Sons, its holding company, through an initial public offering (IPO) to raise about Rs 55,000 crore at an estimated valuation of Rs 11 trillion, said a Kotak Securities report last week.

Tata Sons is classified as an 'upper-layer' NBFC by the RBI. It has to be listed on the stock exchanges by September 2025 to meet the regulator's norms, Business Standard reported quoting Kotak Securities report. CLICK HERE FOR FULL REPORT