News Karnataka
Friday, April 12 2024
Cricket
Finance

Tata Group Makes History, Crosses ₹30 Lakh Crore Market Cap

Tata
Photo Credit : Google

With a combined market capitalization that surpassed ₹30 lakh crore, the Tata Group created history in the Indian business world. The year-round strong demand for shares of Tata Consultancy Services, Tata Motors, Tata Power, and Indian Hotels has been the primary driver of this extraordinary increase in shareholder wealth.
Over the course of 2024, Tata Consultancy Services Ltd. has experienced a remarkable increase of more than 9 percent, and Tata Motors Ltd. has advanced by more than 20 percent. Furthermore, there has been a significant increase of 18% in Tata Power and a 16 percent gain in Indian Hotels. The Tata Group has 24 companies that are listed on exchanges, which is noteworthy.

However, amidst this upward trajectory, Tejas Network, Tata Elxsi, and Tata Chemicals have experienced declines of over 10 percent so far this year, contrasting with the positive performance of the remaining stocks, which have recorded gains ranging from 1 to 5 percent.

A highlight of this surge was observed in TCS stock, which reached a new pinnacle on February 5, soaring over 4 percent and achieving a market capitalization of 15 lakh crore.

This boost is attributed to the company’s encouraging deal wins in Q3FY24, with a total contract value of $8.1 billion, reflecting a notable increase of 3.8 percent from the previous year. The management has expressed confidence in long-term growth prospects, anticipating a rise in client investments post challenging macroeconomic conditions.

In 2024, Tata Power showed growth, which was consistent with the industry’s upward trend in the power and energy sector. The Interim Budget 2024 underscores the government’s increased emphasis on augmenting the application of renewable energy, which is expected to generate additional impetus. Tata Power, a well-known private sector company, has a substantial 5,500 MW clean energy portfolio that includes hydropower, wind, and solar energy.

Thanks to strong demand dynamics, Indian Hotels has maintained a strong performance across key metrics. Reassuringly, the management’s optimistic outlook has led analysts to predict a strong earnings trajectory in the upcoming years, supported by a range of growth catalysts.ls

Read More

India Reclaim 2nd Spot in WTC25 Standings After Vizag Win

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

To get the latest news on WhatsApp