The total market capitalisation of the group rose by Rs 1.31 lakh crore last week to over Rs 23.42 lakh crore on Friday driven by a run-up in most Tata companies. Mukesh Ambani’s Reliance Industries – the second most valuable group in India – has a market capitalisation of Rs 18.19 lakh crore on Friday.
Tata Consultancy Services – considered the group’s cash cow – hit a record high of Rs 3,990 ahead of its September quarter results, which were announced after trading hours on Friday.
Tata Motors, Titan, Voltas, Tata Elxsi, and Indian Hotels, too, hit all-time highs on Friday.
shares rallied on an ET report that private equity firm TPG is in advanced talks to invest $1 billion in the electric vehicles division of Tata Motors.
Shares of Titan crossed Rs 2 lakh crore in market value last week after the company said it has witnessed a strong recovery in demand in the September quarter. The company is the second in the Tata Group after Tata Consultancy Services to cross Rs 2 lakh crore in market cap.
Tata Motors, Indian Hotels, Tata Teleservices, Nelco, TRF, and others gained between 10% and 20% last week, while Titan, Tata Power, Tata Coffee, and Rallis India gained more than 8%.
The group has added Rs 7.53 lakh crore or 47% in market capitalisation since the beginning of the year.
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