Indian Inc. has reason to cheer. Tata Group companies’ shares combined market capitalization crossed ₹30 lakh crore on February 6. With this significant achievement, the Tata group becomes India’s first conglomerate to hit such a milestone riding on strong performances from Tata Consultancy Services, Tata Motors, Tata Power and Indian Hotels.
Performance Of Tata Group Companies’ Shares In 2024
All three companies – Tata Consultancy Services, Tata Motors, and Tata Power have performed well. Tata Consultancy Services Ltd surged over 9 per cent so far in 2024, while Tata Motors Ltd moved forward by over 20 per cent. Tata Power climbed up by 18 per cent while Indian Hotels jumped 16 percent. The Tata Group has 24 companies listed on exchanges. There were some drops as well. Tejas Network, Tata Elxsi, and Tata Chemicals have dropped over 10 per cent so far this year. The remaining stocks gained in the range of 1-5 percent so far.
A new high for TCS stock
TCS stock reached a new high, leaping over 4 percent to a market cap of ₹15 lakh crore on February 5 after the announcement of a 15-year partnership expansion with Aviva, a UK insurance leader that is aiming to transform the “UK Life business.”
Tata Motors’ stock surges
Tata Motors stock surged in January owing to strong earnings and other factors that included easing the impact of semiconductor chip shortage, lower raw material prices as well as a robust demand. The company achieved a 27 percent YoY volume growth and a substantial 22 percent YoY revenue growth. The Jaguar Land Rover (JLR) division posted a remarkable 16.2 per cent margin.
Tata Power also shows growth in 2024
Tata Power has also shown growth in 2024. It is anticipated to gain even more momentum after the Interim Budget as it possesses a substantial clean energy portfolio of 5,500 MW, covering solar, wind and hydropower.
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