Tata Investment Corp stock hits all-time high; rallies 48% in last 4 trading sessions

Shares of Tata Investment Corporation hit an all-time high of ₹2,883.40 on the NSE in Thursday’s trade. 

During previous intraday trading, the stock opened on a strong note, reaching a high of ₹2,883.40 on the NSE. It then ended nearly 2.67% higher at Rs. 2,691.30, with 2.4 million shares traded on both the NSE and BSE. The stock's volume has been steadily increasing during the week.

The stock gained nearly 48 percent in last four trading sessions. On Tuesday, the stock surged 11.48 percent, and on Wednesday, in intraday trade, the stock zoomed 20 percent and locked in the upper circuit.

So far in September, the stock has returned an incredible 68 percent. In the last one year, the stock doubled investors' wealth by surging 110 percent from ₹1,284.15 to ₹2,691.30. Meanwhile, on September 14, Tata Investment replied to the clarification sought by Indian exchanges on the jump in trade volume.

On the technical charts, the stock is trading 85% higher than its 200-DMA. The Relative Strength Index (RSI) of the stock stands at 96.3. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. At current levels, the stock is trading above the signal line of the MACD (Moving average convergence divergence).

Tata Investment Corporation is a non-banking financial company (NBFC) promoted by Tata Sons. The company is registered with the Reserve Bank of India under the category of an investment company. It is engaged in the business of investing in listed and unlisted equity shares, debt instruments of companies in a wide range of industries, and mutual funds. The major sources of income for the company consist of dividend income and profit on the sale of investments.

Tata Investment reported a 67 percent increase in its consolidated net profit to ₹89.9 crore for the first quarter ended June, up from ₹53.8 crore in the previous year's April-June quarter. Revenue from operations increased 64.67 percent to ₹102.1 crore in the June quarter, compared to ₹62 crore in the same period last fiscal.

The promoters hold 73.4% of the shares in the company. Mutual funds owned 1.33 percent in the June 2022 quarter. The company's regular shareholders hold 24.34 percent of it.

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