Tata Group shares are expected to remain in the spotlight during Thursday’s trading session, following the death of Ratan Tata, the chairman emeritus of Tata Sons, on Wednesday night. Ratan Tata, a visionary industrialist, was instrumental in transforming Tata Group into one of India’s largest and most influential business conglomerates.
In a heartfelt statement, N Chandrasekaran, chairman of Tata Sons, expressed deep sorrow at the loss of Ratan Tata. He acknowledged Tata’s immense contributions to both the group and the nation.
“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 companies have performed well in 2024, with their combined market capitalization growing by 15.4 percent since June. This growth has been driven by the strong results of major companies within the group, such as Tata Consultancy Services (TCS) and Tata Motors.
Analysts have pointed out that Tata Group stocks offer investors diversification across multiple sectors, regular dividend payouts, and long-term capital growth. Following Ratan Tata’s passing, investors will be keenly observing the group’s succession plans, as it could have a significant impact on the company’s performance in the Indian stock market.
Meanwhile, Tata Consultancy Services (TCS) is preparing to release its earnings for the quarter ending September 30, 2024. The company has notified the market 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 consider, approve, and take on record the Unaudited Standalone and Consolidated Financial Results, along with the Limited Review Reports of Statutory Auditors for the quarter and half-year ended September 30, 2024,” the filing stated.
Ahead of the earnings announcement, TCS shares closed 0.13 percent higher on October 9, ending at ₹4,258 per share on the National Stock Exchange (NSE).
In addition, Tata Technologies, one of the most anticipated IPOs of 2023, recently made a remarkable debut on the Indian stock market. Tata Technologies’ initial public offering (IPO), launched in November 2023, was Tata Group’s first IPO in over 19 years and secured the third-highest listing gains in India’s capital market history.
On November 30, 2023, Tata Technologies’ shares were listed at ₹1,200 and closed at ₹1,328 on the NSE, representing a 140 percent premium over the IPO price. The offering, which included an offer-for-sale (OFS) of 6.08 crore shares by Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund 1, was highly successful, with the IPO oversubscribed by 69.43 times, attracting over 73.38 lakh applications from both retail and institutional investors.
