Tata Investment shares soar 11.8% on stock split announcement
Tata Investment Corporation's shares shot up 11.8% to a new 52-week high of ₹11,840 on Friday, following the company's announcement of a 1:10 stock split set for October 14.
The move is meant to make shares more affordable and trading easier for regular investors.
Stock has gained nearly 70% in a month
The stock has soared nearly 70% in just the past month—pretty wild momentum. But with a high Relative Strength Index of 85.4, it's looking overbought, so some investors might cash out soon.
Still, big players are optimistic: foreign institutional investors bumped up their stake from 2.24% last December to 2.54% by June this year, signaling strong confidence in Tata Investment's future growth.
The company now boasts a market cap over ₹54,637 crore and keeps trading above all its major moving averages.