The shares of Tata Investment Corporation Limited opened at Rs 1,978 on Tuesday and gained more than 5.5 per cent to reach its All time high of Rs 2,096.50. The stock has been on an uptrend and has gained more than 15 per cent in the last five trading sessions.
In the span of a month, the stock has zoomed by more than 37 per cent. So far this year in 2022, the shares have delivered a return of 46 per cent YTD. In a year the shares have climbed by 63 per cent.
Tata Investment Corporation Ltd is a non-banking financial company which is primarily engaged in the business of investment in listed and unlisted equity shares, debt instruments and mutual funds etc. The company invests in multiple Tata group companies.
In Q1FY23, the company earned a total revenue of Rs 101 crores up from Rs 61 crores which it earned in the same period a year prior. The major sources of income for the company consist of dividend income and profit on the sale of investments.
Their net profit stood at Rs 83 crores which increased from Rs 52 crores in Q1FY22. The healthy growth in earnings was on the back of a higher dividend income of Rs 74.19 crore in Q1FY23, as against Rs 41.26 crore in Q1FY22.
“The company will continue to look for opportunities to invest in companies which have consistent growth prospects with high-quality earnings. In new age companies where valuations are a concern and whose earnings will fructify at a later stage in their development, the Company has made a small allocation of capital,” the company had said in its FY22 annual report.
Written by Anoushka Roy
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