Several Tata Group stocks, including Tata Investment Corporation Ltd, Tata Chemicals Ltd, and Tata Elxsi Ltd, rose by as much as 11 per cent on Thursday, while most others remained stable ahead of the earnings season. IT giant Tata Consultancy Services (TCS) and Tata Elxsi are set to start Q2 results today.
In light of Ratan Tata's passing, Chairman Emeritus of Tata Sons, TCS decided to cancel its press conference scheduled for later in the day. However, the IT firm will still report its results as planned.
Meanwhile, Tata Investment shares soared by 15.03 per cent, reaching a high of Rs 7,534.90 on the BSE. Tata Chemicals rose 8.53 per cent to Rs 1,200 per share, while Tata Elxsi, preparing to release its results, climbed 2.52 per cent to Rs 7,802.95. Tata Power increased by 1.9 per cent to Rs 469.65, and Indian Hotels gained 2.03 per cent to Rs 707.65. Tata Steel also saw a modest rise of 0.5 per cent, reaching Rs 159.75.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels. Ratan Tata, while pursuing the group’s growth, contributed substantially to India’s growth and millions of ordinary investors gained from the great man’s vision.”
Ratan Tata, chairman of the Tata Group, passed away on Wednesday, leaving behind an inspiring legacy. The 86-year-old industrialist died in the evening at Breach Candy Hospital in Mumbai following a brief illness. Tata stepped down as Chairman of Tata Sons in December 2012 after 50 years with the group and was honoured with the title of Chairman Emeritus. Currently, N Chandrasekaran serves as the Chairman of Tata Sons.
As of March 31, 2024, the Tata Group's combined market capitalisation stood at Rs 30,36,905 crore, up from Rs 20,71,467 crore the previous year.
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