Rs 85,000-crore rally in 4 days! How Tata stocks dominated the week
Tata Chemicals was the top gainer with a 36% return, followed by a 28% upside in Tata Investment Corporation.
Altogether the combined market capitalisation of all 24 listed Tata stocks shot up by about Rs 85,000 crore to Rs 31.6 lakh crore, shows data pulled from ACE Equity.
Among other Tata stocks, Rallis India ended the week 14% higher while Tata Power added another 13% to its value. Shares of Tata Motors, which were in focus following the demerger news, ended 6% higher.
Fundamentals aside, a large portion of the rally in Tata stocks during the week was attributed to speculation around the possibility of Tata Sons IPO. While the RBI deadline for listing is one-and-a-half years away in September 2025, investors bought shares of Tata Chemicals in particular as it is seen as the biggest beneficiary of the IPO.
The Tata Group is now said to be exploring all legal and financial options to avoid Tata Sons from getting listed.
Also read | Tata Sons trying to avoid IPO. Is it Ok Tata Bye Bye for multi-billion-dollar rally?
Market in the week
During the week, Sensex ended 0.5% higher while both mid and smallcaps underperformed. The BSE Smallcap index ended 2% lower and the BSE SME IPO index also fell 3.5% as the Street appeared to be waking up to warnings of froth in smaller stocks amid retail-led enthusiasm.
The improved macroeconomic narrative favoured banking stocks, while uncertainties in the global market led to weakness in the IT sector.
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