Tata Investment Corp. shares surged nearly 15% to touch a record high on Tuesday after its net profit jumped in the third quarter of FY24.
The company's consolidated net profit surged 53.2% year-on-year to Rs 53.2 crore in the October-December period, according to an exchange filing.
Tata Investment Corp Q3 Results Highlights (Consolidated, YoY)
Revenue up 34.2% at Rs 50.6 crore.
Net profit up 53.3% at Rs 53.2 crore.
Shares of Tata Investment jumped 14.95%, the highest since its listing on July 2, 1997, before paring gains to trade 13.40% higher at 10:34 a.m. This compares to a 0.5% decline in the NSE Nifty 50.
The stock has risen 157.69% in 12 months. Total traded volume so far in the day stood at 13 times its 30-day average. The relative strength index was at 82.92, which implied the stock was overbought.
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