Tata Technologies Share Price Dips After Block Deal
Nearly 4% equity changed hands in a bulk deal; NDTV Profit had earlier reported TPG's likely stake sale.
Tata Technologies Ltd.'s shares fell over 6% on Tuesday after a large block deal on the National Stock Exchange, triggered by heavy volumes on the counter. The buyers and sellers were unknown.
Bloomberg data showed that nearly 16 million shares, or 3.94% equity in the company, changed hands in a single block transaction.
While buyers were not known immediately, NDTV Profit reported on Monday that Tata Technologies Ltd.'s public shareholder TPG Rise Climate Sf Pte. Ltd. is likely to sell 3.89% stake through a bulk deal.
TPG Rise Climate is an entity linked to US private equity firm TPG Inc. It was planning to offload 15.86 million shares in a price range of Rs 670 to Rs 699, with a discount of as much as 5% to the current market price, the people told NDTV Profit.
At the upper end of the reported selling price range, TPG Rise Climate may end up offloading stake worth Rs 1,109 crore.
The climate-focussed investor held 6.01% stake with total number of nearly 2.43 crore shares in Tata Technologies as of March 2025.
After it offloads 3.89% stake through bulk deal, the lock-in on remaining shares will be for the period of 60 days, the persons privy to the matter said. BofA Securities is the sole banker for this deal, they added.
Additionally, the company’s fourth-quarter earnings were announced during the post market hours on Friday. The IT player reported a 12% year-on-year rise in net profit to Rs 188.87 crore, beating Bloomberg’s consensus estimate of Rs 177.75 crore.
The company’s board also recommended a total dividend of Rs 11.70 per share, including a final dividend of Rs 8.35 and a special dividend of Rs 3.35. The payout will be made within 30 days from the conclusion of the annual general meeting.
Tata Technologies Share Price Today
Tata Technologies stock fell as much as 6.14% during the day to Rs 662.25 apiece on the NSE. It was trading 5.47% lower at Rs 677 apiece, compared to a 0.04% decline in the benchmark Nifty 50 as of 10:20 a.m.
It has fallen 37.48% in the last 12 months and 25.23% on a year-to-date basis. The total traded volume so far in the day stood at 78 times its 30-day average. The relative strength index was at 46.90.
Three out of 14 analysts tracking Tata Technologies have a 'buy' rating on the stock and 11 suggest a 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 603.64, implying a downside of 9.8%.
