Tuesday’s trading saw a significant increase in shares of Tata Investment Corporation Ltd. At a day high of Rs 6,969.65, the stock increased 12.93 percent. The last time it was observed trading was at Rs 6,957.65, up 12.73 percent. Year-to-date (YTD), at this pricing, it has increased by 63.39 percent.
Bourses The Tata Investment securities are now covered by the long-term ASM (Additional Surveillance Measure) framework, thanks to the BSE and NSE. Exchanges warn investors of high share price volatility by placing equities in either short-term or long-term ASM frameworks.
Holding firms have seen significant purchasing activity lately, according to Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, because their relative values appear reasonable at the moment. Bathini said that Tata Investment shares experienced a significant increase in tandem.
Tata Investment is a division of Tata Sons, the Tata Group’s parent company. It makes investments in a portfolio of quoted and unquoted shares of firms that operate in a variety of industries, including Tata Companies.
Holding corporations often don’t run their own businesses; instead, they own investments in other listed firms, usually in the same group.
From a technical perspective, Rs 6,500 could be the counter’s near-term support. For further gains, a firm closing over Rs 7,000 is also necessary.
Angel One’s Senior Research Analyst-Technical & Derivatives, Osho Krishan, stated: “Tata Investment has experienced a robust price and volume surge following a prolonged period of decline. The counter appeared to be significantly consolidating, but the recent uptick suggests that mojo is coming back. On the higher end, a clear break above the Rs 7,000-sub zone is anticipated to start the second phase of the rally towards the Rs 7300-odd zone in the same time frame. The Rs 6,200–6,100 zone is probably going to serve as solid support.”
Anand Rathi Shares and Stock Brokers’ senior manager of technical research analysis, Jigar S. Patel, stated: “Rs 6,500 and Rs 7,000 will be the resistance and support levels, respectively. A strong closing over Rs 7,000 could start a new upswing above Rs 7,200. For the near term, a trading range of Rs 6,500 to Rs 7,200 is anticipated.”
According to Religare Broking’s Senior Vice-President (Retail Research), Ravi Singh, the stock appeared robust on the charts and may soon reach an upside goal of Rs 7,000. Singh added that investors have to maintain a stop loss at Rs 6,500.
Promoters owned 73.38 percent of the business as of June 2024.
Read Also: Premier Energies IPO Day 1: GMP, Subscription Analysis, and Review – What Investors Should Know
