Tata Group stocks such as Tata Consultancy Services Ltd (TCS), Tata Power Ltd, Tata Steel Ltd, among others, were trading in a range on Thursday morning, following the demise of Ratan Tata.
Shares of TCS were trading on a flat note. TCS stock opened lower at Rs 4248.05 on BSE today. Market cap of the firm stood at Rs 15.43 lakh crore. Total 6879 shares changed hands amounting to a turnover of Rs 3 crore on BSE. At 9:36 am, the stock was trading at Rs 4269.50 on BSE. The company will announce its Q2 earnings today.
Shares of another Tata Group firm Tata Power opened lower at Rs 457.05 against the previous close of Rs 460.90 on BSE. Market cap of the firm stood at Rs 1.48 lakh crore. Total 4.10 lakh shares changed hands amounting to a turnover of Rs 18.94 crore on BSE. At 9:40 am, the stock was trading 1.20% higher at Rs 466.45 on BSE.
Tata Steel shares too opened lower at Rs 157.35 against the previous close of Rs 159 on BSE. Market cap of the firm stood at Rs 2 lakh crore. Total 7.94 lakh shares changed hands amounting to a turnover of Rs 12.64 crore on BSE. At 9:44 am, the stock was trading 0.82% higher at Rs 160.30.
Tata Motors shares were trading on a flat note in early deals today. Market cap of the firm stood at Rs 3.46 lakh crore. Total 7.16 lakh shares changed hands amounting to a turnover of Rs 66.70 crore on BSE. At 10:08 am, the stock was trading 0.25% higher at Rs 941.50 on BSE.
Tata Group stocks have given decent returns in 2024, with 16 of them delivering double digit returns year-to-date. Trent has gained 168 per cent followed by TRF, Voltas, Automobile Corporation of Goa Ltd, The Indian Hotels Company Ltd, Tata Investment Corporation Ltd, which have gained between 50 per cent and 90 per cent during the same period. On the other hand, Titan Company Ltd, Benares Hotels Ltd, Tata Technologies Ltd, Tata Elxsi Ltd and Tata Teleservices (Maharashtra) Ltd are five group stocks that have delivered negative returns of 5-13 per cent in 2024 so far.
Ratan Tata, the former chairman of Tata Sons, passed away on Wednesday night. At 86, Tata’s storied legacy transformed the Tata Group from a respected Indian conglomerate into a global powerhouse, forever changing the landscape of Indian industry.