Tata Investment shares were upbeat on Tuesday morning to continue its four-straight session-gaining streak. The stock surged up over 7% to hit a new 52-week high of ₹5,172.
What Happened: The Tata Group company posted a net profit of ₹53.24 crores for the period ended December 31, 2023, marking a 54% increase from the net profit of ₹34.53 crores recorded for the same period last year.
Furthermore, the total income for the period ended December 31, 2023, amounted to ₹51.62 crore, reflecting a 37% growth compared to the total income of ₹37.69 crores reported for the period ended December 31, 2022.
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In addition to the Profit After Tax, the Holding Company also has realised profits of ₹64.65 crore on the sale of equity investments credited to retained earnings in the Balance Sheet.
The company has been one of the best-performing Tata stocks at the bourses in the last few months. In the last six months, the stock has surged up over 100%. In the last year, the stock is up over 120%.
Price Action: Tata Investment’s share price was up 6.70% to trade at ₹5,152.05 shortly after market open on Tuesday.
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