Tata stocks Make Investors Rs 6 lakh-crore Richer With Three Multibaggers and 1 Blockbuster IPO
The Tata Group stocks continued their upward momentum in 2023, with at least three stocks rising as high as 218% and shares of Tata Technologies listing at a premium of 140%. With this, the value of 27 Tata Group stocks increased by Rs 613,000 crore.
Tata Tech”s Rs. 3042 crore IPO received bids worth over Rs 1.5 lakh crore, while three multibaggers, namely Benares Hotels, Artson Engineering, and Trent, gained 218%, 144%, and 119%, respectively. The best performer status among Tata Group family stocks rests on Tata Motors, which saw a rise of 87%.
Tata Investment Corporation, which is one of the holding companies of the Tata Group, has doubled in 2023 with a 99% return. Other hotel groups owned by the conglomerate, besides Oriental Hotels and Indian Hotels, jumped by 67% and 38%, respectively. Tata Power (57%), Tata Exsi (41%), Titan (39%), Tata Consumer (29%), Tata Steel (18.5%), and TCS (17%) are the other Tata stocks that gained significantly.
Tata Teleservices (Maharashtra) is the only one in the pack to have delivered a negative return (-1%) in the year. Tata Motors leads the stocks in terms of recommendations with 28 buy calls, while Titan holds 27 positive guidance, according to Trendlyne data. TCS suffered due to the current macroeconomic headwinds and demand crunch, with buy-calls dropping from 40 to 18.
