Tata Group shares worth over ₹93,700cr open for trade today
What's the story
The six-month lock-in period for Tata Capital Ltd, a non-banking financial company (NBFC) under the Tata Group, expires today. The move will unlock around 285.8 crore shares or nearly 67% of the company's equity capital for trading, according to Nuvama Alternative and Quantitative Research. At Friday's closing price, these shares were worth nearly ₹93,742.4 crore.
Market outlook
Analysts maintain 'Buy' rating
Following the end of the lock-in period, analysts remain optimistic about Tata Capital's stock. All seven analysts tracking the company have maintained a 'Buy' rating, with price targets going up to ₹410 per share. The firm's ₹15,000 crore IPO was fully subscribed by the end of its bidding period and debuted close to its issue price.
List
Other companies with lock-in period expiration
Tata Capital's shares closed 0.57% higher last week at ₹328, taking its one-month gains to around 5%. The company isn't the only one seeing a lock-in period expiration today. WeWork India, BMW Ventures, Bajaj Housing Finance, and Advance Agrolife will also witness their shareholder lock-ins ending on this day.