The Tata Group is an Indian multinational corporation with its headquarters in Mumbai. Founded in 1868, it is India’s largest conglomerate, selling products and services in over 150 nations and operating in 100 countries across six continents.
In September 2023, the Tata Group’s 29 publicly listed enterprises had a combined market value of Rs 25 trillion (US$300 billion). The group’s significant affiliates include Tata Consultancy Services, Tata Motors, Tata Projects, Tata Power, Titan, Tata Steel, Air India, Indian Hotels Company, Tata Consumer Products, Voltas, Trent, Croma, and BigBasket.
Here are the Tata Group stocks that jumped after they announced a business update.
Titan Company Limited
The shares of this luxury fashion accessories manufacturer gained up to 1.3 percent after the company registered a revenue growth of 17 percent YoY for the quarter ended March FY24.
With a market capitalization of Rs 3.33 lakh crore, the shares of Titan Company Ltd were trading at Rs 3,757.90 per share, increasing around 0.22 percent as compared to the previous closing price of Rs 3,754.85 apiece.
According to the business filing, Titan Company Ltd registered a revenue growth of 17 percent YoY for the quarter ended March FY24 and added 86 stores (net) during the quarter, while the group’s retail network presence stands at 3,035 stores.
Additionally, the jewelry business expanded by 18 percent year on year, achieving solid double-digit growth, while the watches and wearables business climbed by 6 percent. Emerging enterprises rose 24 percent YoY, while CaratLane’s business increased 30 percent YoY, although the EyeCare section fell 1 percent YoY during the quarter.
Looking at the company’s finances, Titan Company Ltd’s revenue climbed by 22 percent from Rs 11,609 Crore in Q2FY23 to Rs 14,164 Crore in Q2FY24. During the same period, net profit climbed by 15 percent, from Rs 913 crore to Rs 1,053 crore.
Titan Company Ltd is one of India’s most renowned lifestyle firms. It has earned leading positions in the Watch, Jewellery, and Eyewear sectors, owing to its trusted brands and distinctive consumer experience.
Tata steel Ltd
The shares of one of the leading steel manufacturers gained up to 2 percent after the company achieved the highest-ever annual crude steel production of 20.8 million tons, with a growth of 4% YoY.
With a market capitalization of Rs 2.06 lakh crore, the shares of Tata Steel Ltd were trading at Rs 165.00 per share, increasing around 1.01 percent, as compared to the previous closing price of Rs 163.35 apiece.
According to the business filing, Tata Steel Ltd had the highest ever annual crude steel output of 20.8 MT, with a 4% YoY gain due to debottlenecking across sites and increasing steel production at Neelachal Ispat Nigam, while deliveries grew by 5.6 percent YoY to 19.9 MT.
Looking at the company’s finances, Tata Steel Ltd’s revenue decreased by 3 percent from Rs 57,084 Crore in Q3FY23 to Rs 55,312 Crore in Q3FY24. During the same period, net profit increased from a loss of Rs 2,502 crore to a profit of Rs 522 crore.
Tata Steel Limited is a worldwide steel corporation headquartered in India that produces roughly 35 million tons of crude steel per year. The Company’s primary activity is the manufacture and global distribution of steel products.
Written by:- Abhishek Singh
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