In a remarkable display of market confidence, Tata Group companies witnessed significant gains on Thursday, following the passing of Chairman Emeritus Ratan Tata, with several stocks surging up to 10 per cent.
Tata Group see hike by 10% in stocks amid Ratan Tata’s demise
Leading the rally was Tata Investment Corporation, which soared 10.47 per cent to ₹7,235.80, while Tata Chemicals and Tata Teleservices Maharashtra posted impressive gains of 6.26 per cent and 5.84 per cent respectively. Other notable performers included Tata Elxsi (up 3.37 per cent) and Tata Power (up 2.56 per cent).
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, offered perspective on the market movement: “Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.” He emphasized that “Ratan Tata while pursuing the group’s growth, contributed substantially to India’s growth and millions of ordinary investors gained from the great man’s vision.”
Here’s what Sensex say:
The broader market reflected this optimism, with the BSE Sensex gaining 198.28 points (0.24 per cent ) to reach 81,665.38 in mid-session trading. However, not all Tata stocks participated in the rally, with Trent declining 0.90 per cent, Titan falling 0.81 per cent, and Tata Motors dropping 0.40 per cent.
Several other group companies, including Tata Technologies, Rallis India, Nelco, and Tejas Networks, also posted positive gains. Blue-chip companies showed modest appreciation, with Tata Steel up 0.91 per cent, TCS gaining 0.21 per cent, and Tata Consumer Products rising 0.17 per cent.
In related developments, TCS cancelled its scheduled press conference for second-quarter results, though the company will proceed with its planned analyst call and regulatory filings. The cancellation comes as the last rites for Ratan Tata, who passed away at 86, are scheduled for Thursday afternoon in Mumbai’s Worli area.
Vijayakumar advised investors to learn from the Tata empire’s growth, emphasizing the importance of long-term investment horizons in wealth creation, particularly in the current bullish market environment.
