Tata shares are in for yet another day of limelight Thursday's trading session with news from Ratan Tata, chairman emeritus at Tata Sons, an industrial legend who did much of the heavy lifting in building one of India's largest and most influential conglomerates.
Veteran industrialist Ratan Tata breathed his last Wednesday night, aged 86, at the Breach Candy Hospital in South Mumbai. Chairman of Tata Sons, N Chandrasekaran, also issued a statement to the media condoling the death of Ratan Tata and said that contributions like his have profoundly affected the very heart of India.
"It is with a sense of great loss that we are bidding
farewell to Mr. Ratan Naval Tata, an uncommon leader whose contributions are
invaluable in shaping not only the Tata Group but also the entire fabric of our
nation," Chandrasekaran said.
Tata Group stock performance
Tata Group stocks have zoomed during 2024, with collective market capitalization showing a growth of 15.4 percent since June, primarily on the back of robust performances by key companies like Tata Consultancy Services and Tata Motors.
Tata group stocks are diversified across various sectors, the dividend payout is regular, and there is an opportunity to achieve capital growth. All these ensure returns in the long run, thereby making them a good choice for creating long-term wealth, believe several key analysts.
Investors will keenly look at succession plans from the Tata
Group for the first time after the demise of Ratan Tata.
TCS Q2 FY25 Results:
Tata Consultancy Services (TCS) will announce its quarterly results for the period ended 30 September 2024. An exchange filing has informed the market about it.
"A Meeting of the Board of Directors of Tata Communications Limited ("the Company") is scheduled to be held on Thursday, October 17, 2024 to inter alia consider, approve and take on record the Unaudited Standalone and Consolidated Financial Results along with the Limited Review Reports of Statutory Auditors thereon for the quarter and half year ended September 30, 2024," the company said in the filing.
The TCS share price closed in the green, surging by 0.13 per
cent on October 9 at ₹4,258 a share on the National Stock Exchange (NSE), ahead
of the Q2 FY25 earnings announcement.
Tata Group's latest listing:
One of the most-awaited IPO of the year 2023, Tata Technologies, a Tata Group company, recently made a thriving debut on the Indian stock market.
On record, though Tata Technologies was able to go for its IPO in November 2023, it marked the first offering of an IPO from Tata Group after nearly 19 years. In the meantime, it managed to achieve the third-highest closing gain on its listing day in the history of the Indian capital market.
Tata Technologies launched on both exchanges on November 30. Opening at ₹1,200 on the NSE, Tata Technologies closed at ₹1,328 representing a very impressive 140 per cent premium to the IPO price. This IPO, constituting an Offer-for-sale (OFS) issue of 6.08 crore shares of the promoters Tata Motors, investors Alpha TC Holdings and Tata Capital Growth Fund 1, saw tremendous interest from retail as well as institutional investors.
Total applications surged to over 73.38 lakh as the public issue was oversubscribed to the tune of 69.43 times. Tata shares are in for yet another day of limelight Thursday's trading session with news from Ratan Tata, chairman emeritus at Tata Sons, an industrial legend who did much of the heavy lifting in building one of India's largest and most influential conglomerates.
