Titan has entered into a share purchase agreement to acquire all of the 91,90,327 equity shares held by the founder of CaratLane Trading Private Limited and his family members
Thus far in the current calendar year 2023, the stock price of Trent has rallied 25 per cent, while in past one year it surged 53 per cent.
This comes at a time when the board of Tata Sons has acknowledged the group's highest growth in its history
Moderation of attrition is a positive and indicates easing of supply side challenges, which is likely to support margins, going ahead, ICICI Securities said in its note.
A spike in coal prices has increased cost of generation
With in the Tata Group space, except for Indian Hotels, others like TCS, Tata Motors, Trent and Tata Coffee seem poised for a buoyant rally in the near term.
Improving chip supply and cooling commodity prices will aid revenue and margins recovery and hence aim to deliver strong improvements in EBIT and free cash flows in H2 FY23, the company said.
Merger is part of Tata group plan to bring similar businesses under a single umbrella like Tata Steel's merger of seven subsidiaries with itself to consolidate its metals and mining businesses
Shares of the to-be merged subsidiaries, Tata Steel Long Products, Tinplate Company of India, Tata Metaliks, and TRF declined 2 - 9 per cent each.
The shares of two Tata group companies have been on the upswing, touching new highs at the bourses
The share price of Tata Investment Corporation has zoomed 60%, while TRF has appreciated by 58 per cent in past one week on the BSE.
Tata Investment said the company aims to remain invested in leaders in sectors, which they believe have potential to remain value accretive over the medium and long term.
In the past 5 trading sessions alone, the share price of Trent Ltd has jumped 11 per cent. On NSE, Trent rose 4.63 per cent to close at Rs 1,475.30, on Wednesday
In the past one week, the stock has rallied 11 per cent after the company reported strong earnings for Q1FY23 with industry best revenue growth and strong beat on almost all parameters
Tata Elxsi hit a new high of Rs 10,150, rallying 7 per cent on the BSE in Friday's intra-day trade
The performance for the quarter was largely led by improved soda ash realisations across all geographies, which led strong top line growth for the quarter, said ICICI Securities.
Shares of Tata Motors on Monday jumped nearly 7 per cent after the firm reported a 51.12 per cent increase in total sales last month. The stock advanced 6.58 per cent to end at Rs 479.25 apiece on the BSE. During the day, it jumped 6.94 per cent to Rs 480.90. On the NSE, it climbed 6.77 per cent to settle at Rs 480.05 apiece. It was the biggest gainer among the Nifty-50 components. Meanwhile, the 30-share BSE benchmark climbed 545.25 points or 0.95 per cent to settle at 58,115.50. The broader NSE Nifty advanced 181.80 points or 1.06 per cent to 17,340.05. In volume terms, 66.40 lakh shares of the company were traded on the BSE during the day and over 4.30 crore shares on the NSE. On Monday, Tata Motors reported a 51.12 per cent increase in total sales at 81,790 units in July 2022, driven by the strong performance of its passenger vehicles in the domestic market. The company had sold a total of 54,119 units in domestic and international markets in July last year, Tata Motors said
Losses at the UK subsidiary widened to £482 million, from £286 million, as JLR retail sales fell 37 per cent to 78,825 units from the year-ago quarter
Among other Tata Group stocks, Tata Steel, Tata Power and Titan look weak on the charts, and are likely to see more downside.
Tata Steel, Tata Power Company, Tata Exlsi, Tata Chemicals and Tinplate Company of India traded at ex-dividend adjusted price on Wednesday.