In Thursday’s intra-day trade on the BSE, shares of two Tata Group companiesβTata Investment Corporation and TRFβcontinued to rise in a northward direction, reaching multi-year highs. In the past week, these two equities have increased in value by up to 60%.
Tata Investment Corporation has risen 9% so far today and reached a new record high of Rs 2,849.95. The stock has soared 60% in the last week from a low of Rs 1,786, while the S&P BSE Sensex has only increased by 2%.
Tata Sons is the sponsor of Tata Investment Corporation, an NBFC (non-banking financial institution). The business is listed as an Investment Company with the Reserve Bank of India. Its business includes investing in mutual funds, listed and unlisted equity shares, and debt instruments of businesses across a variety of industries.
Dividend income and profit from the sale of investments make up the company’s main revenue streams. The business is a promoter of the Tata Mutual Fund alongside Tata Sons. The corporation also holds a majority stake in Tata Securities Ltd, a business that distributes mutual funds and other securities related to investing.