Tata Boom! For the love of all things, Tata’s portfolio surges to over Rs 9 lakh crore in FY24.
The market capitalization of all Tata stocks (excluding Tata Tech) increased by Rs 9.15 lakh crore to Rs 29.62 lakh crore. This translates into a return of almost 45%.
On average, Tata stocks have delivered an impressive 85% return during the financial year. Individual investors ignored institutional investors who had evaluated the holding company at a discounted value compared to the underlying value of its assets.
Despite being a holding company, Tata Investment Corporation was the biggest gainer in the group, closing 257% higher. Tata Chemicals, on the other hand, rose 11%.
Other top winners include Automobile Corporation of Goa, Trent, Benares Hotels, TRF, Tata Motors, Artson Engineering and Tata Power.
The stock rose 136% in FY24 on the back of a significant recovery in the performance of Tata Motors’ India operations and Jaguar Land Rover. Tata Power’s market capitalization increased by over 107% to Rs 1.26 lakh crore. The stock price of Tata Technologies, which was listed in November last year, is still trading at a 100% premium compared to the initial public offering (IPO) issue price.
Titan shares rose 51%, Tata Steel 49%, Tata Consumer 54% and TCS 21%.
Half of the total market capitalization of the Tata Group’s listed companies is embedded in TCS alone.
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The way Tata stock has delivered multibagger returns recently explains why the late Rakesh Jhunjhunwala was never shy about publicly expressing his fascination with the Tatas.
In one of his TV interviews, the ‘Big Bull’ described Tatas as being blessed by God and buying Tata shares was not planned that way.
“It’s a coincidence. I buy shares in the company. But after Chandra (Tata Group Chairman N Chandrasekaran) took over and I understood him and what he was trying to do, I became extremely optimistic,” Jhunjhunwala said.
Earlier this week, ET reported that the salt-to-software giant is planning IPOs of Tata Capital, Tata Autocomp Systems, Tata Passenger Electric Mobility, BigBasket, Tata Digital, Tata Electronics, Tata Housing and Tata Batteries in the next two to three years. age.
(Data: Ritesh Presswala)
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