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  5. This mainboard IPO had bumper listing last year; firm to declare Q2 results today. Check details

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This mainboard IPO had bumper listing last year; firm to declare Q2 results today. Check details

Upstox
By Upstox News Desk

3 min read | Updated on October 28, 2024, 08:46 IST

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SUMMARY

The stock of the company, which provides engineering and product development digital services, was listed at ₹1,199.95, registering a sharp jump of 139.99% from the issue price on the BSE. On the NSE, it began the trade at ₹1,200, rallying 140%.

Stock list

TATATECH
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TATAMOTORS
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On a year-to-date (YTD) basis, the stock has fallen 14%

On a year-to-date (YTD) basis, the stock has fallen 14%

Q2 results today: Tata Technologies, an arm of Tata Motors, had a dream stock market debut on November 30, 2023, listing with a huge premium of 140% against the issue price of ₹500.

The stock of the company, which provides engineering and product development digital services, was listed at ₹1,199.95, registering a sharp jump of 139.99% from the issue price on the BSE.

On the NSE, it began the trade at ₹1,200, rallying 140%.

The stock later jumped to ₹1,400. This remains the stock's all-time high level to date.  Tata Technologies was the first company from the Tata Group to float an initial public offer (IPO) in nearly two decades.

Tata Consultancy Services was the last IPO from the group in 2004.

The public issue had a price band of ₹475 - ₹500 per share. Tata Technologies' public issue was entirely an offer for sale (OFS) of 6.08 crore equity shares.

Tata Technologies Q1 FY25

Tata Technologies reported a 15.4% decline in consolidated profit after tax at ₹162.03 crore in the June 2024 quarter, impacted by higher expenses. 

The company posted a consolidated profit after tax (PAT) of ₹191.53 crore in the same quarter last fiscal, as per a PTI report.

Consolidated revenue from operations in the first quarter stood at ₹1,268.97 crore as against ₹1,257.53 crore in the year-ago period, it added.

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"The overall market conditions remain favourable as the manufacturing sector continues to future-proof itself through ongoing investments in alternative propulsion systems, software-defined products and services, and smart manufacturing," Tata Technologies CEO and Managing Director Warren Harris said.

Harris said the company expects the sequential revenue growth of its services business to accelerate from the current quarter.

About Tata Tech

Tata Tech is a product development and digital solutions provider for original equipment manufacturers (OEMs) in the auto sector.

This comes under the engineering research & development (ER&D) segment, in which, Nasscom predicts, India will contribute 22% to the global ER&D sourcing market by FY30.

The software, automotive, and semiconductor sectors are expected to contribute more than 60% of India’s share of ER&D sourcing by FY30.

Tata Motors and JLR are among the top five clients for Tata Technologies.

It also counts VinFast, a Southeast Asian electric-vehicle OEM, among its top five clients.

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On a year-to-date (YTD) basis, the stock has fallen 14%. 

With inputs from PTI
Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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