Tata Technologies stock price debuts at a bumper 140% premium; share price at Rs 1200 on BSE | India Business News

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Tata Technologies share price bonanza: Tata Technologies made a powerful debut on the stock exchanges, itemizing at a premium of 140% or Rs 700 on Thursday. The stock opened at Rs 1200 on each the NSE and BSE, considerably larger than the difficulty price of Rs 500. Tata Technologies was the primary IPO from the Tata group in practically 20 years.
Prior to the itemizing, the shares have been buying and selling at a premium of Rs 406 within the unlisted market.Market analysts stay optimistic concerning the firm’s prospects, even from a long-term perspective, regardless of the itemizing good points – a constructive sign for the stock.
Tata Technologies’ IPO, which raised Rs 3,042 crore, obtained bids value over Rs 1.5 lakh crore, indicating a subscription of practically 70 instances the shares on provide.
Retail particular person buyers subscribed to the reserved quota 16 instances, whereas certified institutional consumers and non-institutional buyers subscribed 203 instances and 62 instances, respectively.
Analysts attribute the sturdy response to the IPO to engaging valuations in comparison with trade friends and the sturdy model worth related to the Tata lineage.
According to Shivani Nyati of Swastika Investmart, Tata Technologies’ world presence and experience in engineering options have established it as a most popular associate for multinational firms in numerous industries. The firm’s numerous buyer base, sturdy supply community, and focus on innovation additional improve its aggressive benefit.
In phrases of economic efficiency, Tata Technologies outperformed its friends when it comes to development over FY21-23. Its FY23 PE ratio stands at 32-33x, in comparison with 105x for KPIT, 40x for L&T Technology Services, and 70x for Tata Elxsi.
Tata Technologies is a pure-play manufacturing-focused engineering analysis and growth (ER&D) firm, primarily catering to the automotive trade. It is presently engaged with seven of the highest 10 automotive ER&D spenders and 5 of the ten distinguished new vitality ER&D spenders in 2022. As of FY23, the corporate generated 80% of its income from companies, 11% from merchandise, and 9% from training.
In the primary half of FY23, Tata Technologies recorded a 35% year-on-year improve in whole revenue to Rs 2,587 crore, with internet revenue rising by 36% to Rs 352 crore throughout the identical interval.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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