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Indian stock market: Tata Group stocks continue to trade higher for the third consecutive trading session on Thursday, March 6, with Tata Coffee leading the gainers’ list with a 3.57% gain, followed by Tata Investment, NELCO, Voltas, Tata Elxsi, Tata Steel, and Tata Chemicals, which are currently trading with gains between 1% and 3.20%.
The positive sentiment surrounding Tata Group stocks emerged after reports indicated that the conglomerate is looking to raise up to $11 billion through the listing of Tata Capital on the exchanges. Tata Capital is the financial services division of the group. The rally in Tata Group stocks is also being supported by value buying at lower levels after some of them were heavily battered on Dalal Street.
The valuation of the Tata Capital is reportedly expected to make it India’s biggest initial public offering (IPO) this year, as reported by Bloomberg on March 03. The report stated that Tata Capital’s board last week approved the listing of up to 230 million shares, along with an offer for sale of equity by existing shareholders. It also announced a rights issue worth as much as ₹15.04 billion ($172 million).
However, no official announcement has been made by Tata Group regarding the Tata Capital IPO. In December 2023, Tata Technologies shares were listed on the exchanges, making it the third-largest IPO of the year and the first Tata Group IPO since TCS, which was listed back in 2004.
Commenting on the performance of Tata Group stocks, Sandeep Pandey, MD of Basav Capital Advisory Private Limited, said, “It is premature to connect Tata Group stocks’ rise with the Tata Capital IPO, as the IPO-bound company has yet to make any official announcement about the timing and size of the public offer. Tata Group stocks are rising due to short-covering, and they are erasing their early morning or yesterday’s gains as the market turns red after the positive opening.”
5 Tata Group stocks down up to 47% from 1-year peaks
Amid the sustained sell-off on Dalal Street, five Tata Group stocks—Tata Motors, Tata Consumer Products, Tata Consultancy Services (TCS), Tata Steel, and Titan—have declined between 20% and 47% from their respective 52-week highs. Notably, all these five stocks are part of the Nifty 50 index.
Tata Motors has been the worst hit among the group stocks, ending the last seven months in the red—the longest monthly losing streak in a decade. During this period, the stock has fallen from ₹1,179 per share to ₹620, marking a 47.41% decline. However, the stock has reversed its losing streak this month, gaining 3.50% so far.
TCS, the largest listed Tata Group stock by market capitalization, has dropped 23% from its recent highs, while Tata Consumer Products and Tata Steel have also declined by 23% and 21%, respectively.
Likewise, Titan’s share price has skidded from its 1-year high of ₹3,867 per share to the current value of ₹3,083, translating into a decline of 20.23%.
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