The Indian markets have started the new year on a happy note as the benchmark indices opened higher in green on Monday. With the new year, Indian companies have transitioned from Q3 to the last quarter and are set to release their earnings for the period. Here are two Tata stocks that remained in focus on Tuesday:
Tata Consultancy Services Limited
The shares of Tata Consultancy Services were trading 1.2 percent higher on Tuesday morning at Rs 3,303 levels. The stock remains in focus as the board of directors is set to meet on January 9th.
The company will kick start the Q3 season as the board will approve the audited standalone and consolidated financial results of the company and its subsidiaries under Ind AS for the quarter and nine-month period ending December 31, 2022.
In addition to that, the board of directors will also consider the declaration of a third interim dividend to the equity shareholders. For this purpose, the record date has been set as January 17th, 2023. The stock has a dividend yield of 1.32%.
Tata Consultancy Services (TCS) is the second-largest Indian company by market capitalization and is among the most valuable IT service brands worldwide. It provides information technology (IT), business solutions, and consulting services.
Tata Motors Limited
The Tata group stock declined marginally on Tuesday’s session to trade at Rs 394 levels. However, yesterday, the shares ended in green after the company announced that its acquisition of Ford India’s manufacturing plant will be completed on January 10, 2023.
Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors, announced last year that it would acquire Ford India Pvt Ltd’s (FIPL) Sanand plant in Gujarat for Rs 725.7 crores.
In addition to this, the company also announced its sales in the domestic & international markets, for Q3FY23, which stood at 2,28,169 units, compared to 1,99,634 units during Q3FY22.
Tata Motors Limited, part of Tata group, is engaged in the manufacturing of products passenger cars, trucks, vans, coaches, and buses. The company is also a market leader in the electric passenger vehicle segment with approximately 76 percent volume market share.
Written by Anoushka Roy
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
