Tata Investment Corporation shares surge amid spike in trading activity

Shares of Tata Investment Corporation rose as much as 7.13% to hit an intraday high of ₹741.70 on Friday, February 20 on the National Stock Exchange (NSE) amid spike in trading activity. On the BSE, Tata Investment Corporation shares climbed as much as 6.8% to hit an intraday high of ₹741.85.

Tata Investment Corporation shares were witnessing higher than usual trading activity as trading volume jumped by 3 times to 1.37 crore shares compared with an average trading volume of 49 lakh shares on the NSE.

A total of 16 lakh shares changed hands on the BSE compared with an average of 2.5 lakh shares traded daily in the past two weeks.

Meanwhile, BSE sought a clarification from the company for spurt in trading volume.

Replying to the BSE, Tata Investment Corporation said, "We would like to inform you that to the best of the information available with Management; we do not have any information/announcements to share with the Stock Exchanges under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) which have a bearing on the price/volume behaviour of our scrip traded."

Tata Investment Corporation Q3 earnings

Tata Investment Corporation last month reported net profit of ₹75 crore in the third quarter of current financial year, marking an increase of 275% from ₹20 crore in the year-ago period.

The company's total revenue from operations advanced multifold to ₹58 crore in October-December period from ₹4 crore in the same period last year.

The company in October last year split its stock in ratio of 1:10 to enhance liquidity and attract more retail investors.

As of 2:52 pm, Tata Investment Corporation shares traded 2.5% higher at ₹711, outperforming the NIFTY LARGEMIDCAP 250 index which was up 0.6%.