Next Article
Tata Investment hits record high on IPO buzz
Business
Tata Investment Corporation's stock jumped 17.5% to an all-time high of ₹10,391 on Tuesday, amid anticipation that its majority shareholder, Tata Sons, may be required to go public soon due to regulatory deadlines.
This excitement comes after the RBI said top non-banking finance companies need to list within three years of getting "upper layer" status.
Stake in Tata Capital
Tata Investment owns a small stake (0.1%) in Tata Sons and 2.1% in Tata Capital—which itself is set for an IPO on October 6.
The company just announced a 1:10 stock split coming up on October 14 and posted a strong profit jump of 23.5% year-on-year last quarter.
With shares up nearly 50% this month, investors are clearly feeling optimistic about what's next.