Tata shares are all set to remain in focus on Thursday's trading session following the demise of Ratan Tata, the chairman emeritus of Tata Sons and a legendary industrialist who played a key role in developing one of India’s largest and most influential conglomerates.
Veteran industrialist Ratan Tata died Wednesday night at the age of 86 at South Mumbai’s Breach Candy Hospital.
In a media statement, N Chandrasekaran, chairman of Tata Sons, expressed his condolences to Ratan Tata, noting that his contributions have significantly influenced the core of India.
"It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation," Chandrasekaran said.
Tata Group stocks have shown significant growth in 2024, experiencing a 15.4 percent surge in collective market capitalization since June, driven by strong performances from key companies like Tata Consultancy Services and Tata Motors.
According to several key analysts, Tata group stocks offer diversification across various sectors, consistent dividend payments, and the potential for capital growth, making them a solid choice for generating long-term wealth.
After the passing of Ratan Tata, investors will be closely watching for the Tata Group's succession plan, as it will be a key factor influencing the company's performance in the Indian stock market.
On the other hand, Tata Consultancy Services (TCS) is set to announce its earnings for the quarter ending September 30, 2024. The company has notified the market of this development through an exchange filing.
"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.
TCS share price ended in green, 0.13 per cent higher on October 9 at ₹4,258 per share on National Stock Exchange (NSE), a day before Q2 FY25 earning announcement.
Recently, Tata Group's company Tata Technologies, which was one of the most-hyped IPO of 2023, made a bumper debut on the Indian stock market.
For the record, Tata Technologies' IPO, launched in November 2023, was the Tata Group's first IPO in over 19 years. It also achieved the third-highest closing gains on its listing day in the history of the Indian capital market.
Tata Technologies made its debut on both stock exchanges on November 30, opening at ₹1,200 and closing at ₹1,328 on the NSE, representing an impressive 140 percent premium to the IPO price. The IPO, consisting of an offer-for-sale (OFS) of 6.08 crore shares by the promoters Tata Motors, as well as investors Alpha TC Holdings and Tata Capital Growth Fund 1, attracted overwhelming interest from both retail and institutional investors, receiving over 73.38 lakh applications in total. The public offering was oversubscribed by 69.43 times.
