Tata Investment Corporation Share Price Today: Shares of Tata Investment Corporation, Tata Group’s NBFC arm, continued as the stock hit fresh new high for the third straight session on Thursday. The scrip rose more than 7 per cent on the BSE in early deals to a record high of Rs 2,886 per share with a market cap of Rs 14,227 crore. The shares have more than doubled in nearly three months.
The share of Tata Group’s NBFC arm has zoomed 47 per cent in the last five sessions. The stock of Tata Investment Corporation is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. In a year, the stock has risen 100 per cent and gained 88 per cent in 2022. The Tata Group stock has turned into a multibagger stock in the last three months by surging more than 110 per cent during the period, from Rs 1,300 level in mid-June this year, to doubling in value to Rs 2,880 currently. In a year’s period, Tata Investment shares are up about 119 per cent as compared to over 2 per cent rise in benchmark BSE Sensex.
Promoted by Tata Sons, Tata Investment Corporation Limited (TICL) is a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI). Earlier named The Investment Corporation of India, the company is primarily involved in investing in long-term investments such as equity shares and equity-related securities. The company is engaged in the business of investment in listed and unlisted equity shares, debt instruments, and mutual funds companies in a wide range of industries. It invests in a portfolio of quoted and unquoted securities of companies, including Tata Companies, which are engaged in various businesses. Its primary sources of income consist of dividends, interest, and gains on the sale of long-term investments.
Financials
In Q1 of the current fiscal, net profit zoomed 67.05 per cent to Rs 89.94 crore against a profit of Rs 53.84 crore in the corresponding quarter of the previous fiscal. Sales zoomed 64.73 per cent to Rs 101.97 crore in the June quarter against Rs 61.90 crore in the June quarter of last fiscal. Profit before tax climbed 70.19 per cent YoY to Rs 97.28 crore in Q1 June 2022. Total expense climbed 88.4 per cent YoY to Rs 11.17 crore in Q1 June 2022.
Should you Invest?
Manoj Dalmia, founder, and director, Proficient Equities, said: “Tata Investment has given a huge move recently. Investors can wait for a small retracement for entry. There is a small retracement expected to Rs 2,299 levels which can be a good point to accumulate. Aggressive investors can even buy at current levels with a stop loss of Rs 2,229. We can expect a target of Rs 3,343 from the current levels.”
Ravi Singh, vice president and head of Research, Share India, said: “Tata Investment Corporation has shown a massive rally on the back of its robust revenue from the higher dividend income, interest, and profit on the sale of investments. The stock is also witnessing a potential surge in volumes on technical setup and the momentum indicators on the daily and weekly charts are reflecting a strong upside move ahead. The counter may touch the levels of Rs 3,000 in near to medium term.”
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