Shares of Titan, Tata Consumer and Tata Communications all hit 52-week highs on Wednesday.
What Happened: The Tata Group companies surged up between 1% to 5% on Wednesday. Tata Consumer share price went up over 5% to hit a new 52-week high of ₹864. While it is not immediately clear what’s driving the surge today, several fast-moving consumer goods (FMCG) stocks have been upbeat this week as demand outlook in the sector remained positive.
Tata Communication’s share price also jumped up close to 5% on Wednesday to hit a new 52-week high of ₹1,674. Shares of the company have been upbeat after the company shared a positive revenue growth outlook late last week.
The Tata Group company said that it expects its data revenue to grow by 2x to ₹28,000 crore by FY27 at a revenue compound annual growth rate of 18%. Since then, shares of the company has gone up over 12%.
Titan’s share price went up around 0.5% in early trade on Wednesday to hit a new 52-week high of ₹2,928.20. However, it could not sustain the early gains and was down around 0.5% in afternoon trade.
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Price Action: Tata Consumer share price was up 5.14% to trade at ₹862.05. Titan’s share price was down 0.39% to trade at ₹2,901.20. Tata Communications’ share price was up 3.29% to trade at ₹1,651.
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