Tata Group stocks zoom up to 12% on reports of Tata Capital's Rs 15K-cr IPO
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Tata Group stocks in focus:Tata Group companies like Tata Investment Corporation, Tata Chemicals, Tata Motors, Tata Power, Tata Elxsi, Tata Consumer Products and Tata Communications, among others were in demand on Tuesday, December 24, 2024, as these scrips rallied up to 12 per cent in intraday deals on BSE.
Individually, Tata Investments led the pack, skyrocketing 11.83 per cent to hit an intraday high of Rs 7,305 per share. Similarly, Tata Chemicals jumped 3.99 per cent to Rs 1,076.20 per share, Tata Motors rose 2.51 per cent to Rs 740.70, Tata Elxsi soared 1.60 per cent to Rs 7,010, TCS gained 1.45 per cent to Rs 4,217.30, Tata Power increased 1.38 per cent to Rs 405.35, Tata Consumer Products inched 1.05 per cent higher at Rs 911.20, and Tata Communications soared 1.12 per cent to Rs 1,729.65.
On the flipside, Tata Steel slipped in trade as it fell 1.05 per cent to hit an intraday low of Rs 140.20 per share.
Tata Group companies' shares increased following reports of Tata Capital planning to raise Rs 15,000 crore through an initial public offering (IPO). According to the report, the offering is expected to comprise a mix of primary and secondary share sales.
This IPO comes after the Tata Technologies IPO, which made its debut on the bourses on November 30, 2023. Tata Technologies debuted on the market at a whopping 140 per cent premium to its issue price of Rs 500. On the NSE, the stock opened at Rs 1,200, while the stock opened at Rs 1,199.95 on the BSE
India IPO market
India's IPO market in 2024 made a major impact, with new listings contributing nearly 3 per cent (Rs 14 trillion) to the country's market capitalisation, a marked increase from last year's 1.4 per cent (Rs 5 trillion).
According to Motilal Oswal, this year's absolute contribution is the highest ever, though 2017 and 2019 saw higher percentage contributions at 3.7 per cent and 3.4 per cent, respectively.
IPO fundraising in 2024 surged to Rs 1.8 trillion, 2.6 times the Rs 57,600 crore raised in 2023. Some of the year's notable IPOs included Hyundai Motor India (Rs 27,860 crore), Swiggy (Rs 11,330 crore), NTPC Green (Rs 10,000 crore), and Vishal Mega Mart (Rs 8,000 crore).
About Tata Capital
Tata Capital Limited (TCL), the flagship financial services company of the Tata Group, is a subsidiary of Tata Sons Private Limited and is carrying on business as a non-banking financial company (NBFC).
Tata Capital and its subsidiaries are engaged in providing/supplying a wide array of services/products in the financial services sector and operates across various areas of business including Commercial Finance, Consumer Loans, Wealth Services and distribution and marketing of Tata Cards.
The company’s subsidiaries include Tata Capital Housing Finance Limited (TCHFL) and Tata Securities Limited.
Tata Capital Housing Finance specialises in offering home loans and affordable housing finance loans. Additionally, it provides loans against property and financing to developers for constructing residential and commercial properties.
Tata Securities, a wholly-owned subsidiary of Tata Capital Limited, is an active member of the Bombay Stock Exchange (BSE) in both the cash and derivatives segments. TSL also serves as a Depository Participant for Central Depository Services (India) Limited (CDSL) and National Securities Depository Limited (NSDL).
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Adani Defence Systems and Technologies (ADSTL) has signed an agreement to acquire 85.8 per cent stake in Air Works, India’s largest private sector aircraft maintenance, repair and overhaul (MRO) company, at a valuation of ~400 crore.
“Air Works undertakes base maintenance for narrow-body and turboprop aircraft, as well as rotary aircraft from its facilities at Hosur, Mumbai and Kochi,” a statement by ADSTL said.
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