On Friday, the last day of the business week, Tata Investment Corporation Ltd has made changes in its management. After which the demand for the company’s shares has suddenly increased. After hitting the upper circuit of 20 percent on Friday, this stock of Tata Group had reached the level of Rs 3905.15. Let us know about the changes made by the Tata Group company…
In the information given to the stock market on Friday, the company had informed that the board has appointed Vaibhav Goyal as General Manager. This appointment was made on 29 February 2024. Vaibhav Goyal has 15 years of experience. The second reason for the rapid rise of this share of Tata Group is the IPO of Tata Technologies. After almost 20 years, the IPO of a Tata Group company is going to come in the stock market. This IPO of the company will open for retail investors on November 22.
Company’s revenue crossed Rs 90 crore in the quarter
The company’s revenue in the second quarter of the financial year was Rs 90.94 crore. If seen on annual basis, the company has seen a profit of 29.2 percent in its revenue. According to the share holding of September quarter, the majority stake of the company is with the promoters. Foreign investors hold 1.12 percent stake in the company.
Made a millionaire in 20 years
Shares of Tata Investment Corporation Ltd have made its investors millionaires in the long term. Shares of this company have given multibagger returns of 5,398.97% to its investors in the last 20 years. Let us tell you that 20 years ago i.e. on May 2, 2003, this share was worth Rs 50.27 on the Mumbai Stock Exchange, which has currently reached close to Rs 4000. If an investor had placed a bet of Rs 1.20 lakh in this share 20 years ago and had retained his investment, then at present he would have been the owner of Rs 1 crore.