The Tata Group is an Indian multinational company with its headquarters in Mumbai. It was founded in 1868 and is India’s largest conglomerate, with products and services sold in over 150 countries with activities in 100 countries on six continents.
As of September 2023, the Tata Group’s 29 publicly listed firms have a combined market valuation of Rs 25 trillion (US$300 billion). 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 are among the group’s key affiliates.
Here are the Tata Group stocks that jumped after they announced a business update.
Titan Company Ltd
The shares of this luxury fashion accessories manufacturer gained up to 2 percent after the company registered Revenue growth of 22 percent YoY in Q3FY24.
With a market capitalization of Rs 3.29 lakh crore, the shares of Titan Company Ltd were trading at Rs 3,707.60 per share, decreasing around 0.07 percent as compared to the previous closing price of Rs 3710.05 apiece.
According to the business filing, Titan Company Ltd’s revenue increased by 22 percent year on year in Q3FY24, and 90 new stores were opened during this time. In terms of sales growth, the jewelry segment accounts for 23 percent, while the watches and wearables (W&W) section accounts for 21 percent.
Looking at the company’s finances, Titan Company Ltd’s revenue climbed by 36 percent from Rs 9,163 Crore in Q2FY23 to Rs 12,529 Crore in Q2FY24. During the same period, net profit climbed by 9 percent, from Rs 835 crore to Rs 916 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’s crude steel production increased by 6 percent on a QoQ as well as a YoY basis.
With a market capitalization of Rs 1.62 lakh crore, the shares of Tata Steel Ltd were trading at Rs 131.95 per share, decreasing around 1.27 percent, as compared to the previous closing price of Rs 133.65 apiece.
According to the company filing, Tata Steel Ltd crude steel production stood at 5.32 million tons, increased by 6 percent on a QoQ as well as a YoY basis as of Q3FY24, and for 9MFY24, crude steel production increased by 4 percent YoY.
Furthermore, Tata Steel India’s deliveries were 4.88 million tons, representing the ‘highest ever 3Q’ sales. Domestic deliveries increased by 3% QoQ and 10% YoY, owing to ongoing growth in India’s steel demand.
Looking at the company’s finances, Tata Steel Ltd’s revenue decreased by 7 percent from Rs 59,878 Crore in Q2FY23 to Rs 55,682 Crore in Q2FY24. During the same period, net profit decreased from a profit of Rs 1,297 crore to a loss of Rs 6,511 crore.
Tata Steel is one of the few fully integrated global steel makers, with operations spanning mining, ironmaking, steelmaking, casting, rolling and finishing, and marketing and sales.
Written by:- Abhishek Singh
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