Tata Investment Corp Ltd jumped over 17 percent amid higher volumes, hitting a high of Rs 7,315 a share. Year to date, the stock has surged nearly 69 percent.
The recent rally in the stock follows a four-month period of subdued performance. Between March and July, the stock dropped nearly 13 percent after soaring over 100 percent during January and February 2024.
Tata Sons currently holds over a 68.5 percent stake in Tata Investment Corp, while other Tata Group companies like Tata Power, Tata Chemicals, Tata Steel, Tata Consumer Products, and Trent hold stakes ranging from 0.5 to 1.6 percent.
Recently, BSE and NSE placed Tata Investment's securities under the long-term ASM (Additional Surveillance Measure) framework. Exchanges use the ASM framework, both short-term and long-term, to caution investors about heightened volatility in share prices.
Interestingly, Tata Investment Corp also holds stakes in various Tata Group companies. It has its largest stake in Tata Chemicals at 5.97 percent, followed by Tata Consumer Products at 4.65 percent and Trent at 4.28 percent. Additionally, it has smaller stakes ranging from 0.03 percent to 3 percent in other Tata Group firms, including Voltas, Titan Company, Tata Elxsi, Indian Hotels, Oriental Hotels, Tata Steel, Tata Motors, Tata Power, and TCS.
According to a recent news report in The Economic Times, Tata Sons has voluntarily surrendered its registration certificate to the RBI after repaying over Rs 20,000 crore in debt. This move allows Tata Sons to remain unlisted, avoiding RBI's listing mandate. The repayment reduced its liabilities to Rs 363 crore in non-convertible debentures and preference shares. Additionally, Tata Sons deposited Rs 405 crore with SBI and provided an undertaking to the RBI as part of the process.
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