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Tata Group crosses ₹30 lakh crore market cap, a first: Here's how
TCS stock reached a new high surging over 4 percent to a market cap of ₹15 lakh crore.
Tata Group companies' shares combined market capitalisation crossed ₹30 lakh crore on February 6. With this the Tata group has become India's first conglomerate to hit such a milestone driven by strong performances from Tata Consultancy Services, Tata Motors, Tata Power and Indian Hotels.
How Tata Group companies' shares have performed in 2024?
Tata Consultancy Services Ltd surged over 9 per cent so far in 2024 while Tata Motors Ltd advanced over 20 per cent. On the other hand, Tata Power jumped 18 per cent while Indian Hotels gained 16 percent. Tata Group has 24 companies listed on exchanges of which Tejas Network, Tata Elxsi and Tata Chemicals dropped over 10 per cent so far this year. The remaining stocks gained in the range of 1-5 percent so far.
Read more: This Indian company's CEO became a delivery boy after his family went bankrupt
TCS's new high at stock market?
TCS stock reached a new high surging over 4 percent to a market cap of ₹15 lakh crore on February 5 after it announced a 15-year partnership expansion with Aviva, a UK insurance leader, aiming to transform the “UK Life business.”
What about Tata Motors?
Tata Motors stock surged in the past month owing to strong earnings and other factors including easing impact of semiconductor chip shortage, lower raw material prices and robust demand. The company achieved a 27 percent YoY volume growth and a substantial 22 percent YoY revenue growth with the Jaguar Land Rover (JLR) division posting a remarkable 16.2 per cent margin.
What about Tata Power?
Tata Power has shown growth in 2024 and is anticipated to gain even more momentum after the Interim Budget as it boasts a substantial clean energy portfolio of 5,500 MW, covering solar, wind and hydropower.
