Tata Group becomes first Indian conglomerate to cross ₹30 lakh crore market cap; Details here

Tata Consultancy Services Ltd has witnessed an impressive surge of over 9 percent since the beginning of 2024, while Tata Motors Ltd has advanced by over 20 percent. Additionally, Tata Power has seen a substantial jump of 18 percent, and Indian Hotels has gained 16 percent. It’s noteworthy that the Tata Group boasts 24 companies listed on exchanges.

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However, amidst this upward trajectory, Tejas Network, Tata Elxsi, and Tata Chemicals have experienced declines of over 10 percent so far this year, contrasting with the positive performance of the remaining stocks, which have recorded gains ranging from 1 to 5 percent.

A highlight of this surge was observed in TCS stock, which reached a new pinnacle on February 5, soaring over 4 percent and achieving a market capitalization of ₹15 lakh crore. 

This boost is attributed to the company’s encouraging deal wins in Q3FY24, with a total contract value of $8.1 billion, reflecting a notable increase of 3.8 percent from the previous year. The management has expressed confidence in long-term growth prospects, anticipating a rise in client investments post challenging macroeconomic conditions.

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Tata Power has demonstrated growth in the year 2024, reflecting the positive trajectory observed in the power and energy sector. The prospect of further momentum is attributed to the government’s heightened focus on expanding the utilization of renewable energy, as highlighted in the Interim Budget 2024. Positioned as a prominent private sector entity, Tata Power boasts a significant clean energy portfolio totaling 5,500 MW, encompassing solar, wind, and hydropower sources.

Indian Hotels has sustained a robust performance across essential indicators, buoyed by strong demand dynamics. The optimistic outlook conveyed by the management is reassuring, prompting analysts to anticipate a robust earnings trajectory in the forthcoming years, bolstered by a variety of growth catalysts.ls

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Published: 06 Feb 2024, 05:36 PM IST