Tata Investment share price hits Rs 10,000 for first time ever; here's why

Tata Investment Corporation Ltd rallied over 13 per cent in Tuesday's trade to hit Rs 10,000 apiece level for the first time ever. The stock climbed 13.14 per cent to hit a high of Rs 10,000.50 apiece on BSE, as Tata Capital's IPO and the record date for the company's stock split draw nearer. Tata Investment Corporation has emerged as the top Nifty Midcap index gainer in the past one month, climbing 45 per cent. 

Tata Investment Corporation invests in a diversified portfolio of quoted and unquoted securities of companies, including Tata Companies. Tata Sons Private Limited is its promoter.

Tata Investment Corporation held 2.1 per cent stake in Tata Capital, whose IPO will kick off on October 6. Tata Sons, which held 68.51 per cent stake in Tata Investment Corporation, also owned 88.6 per cent stake in Tata Capital, and would be among the two selling shareholders. 

Tata Investment has also been in news as the company announced a stock split in the ratio of 1:10. This is its first since corporate action for the Tata group firm. October 14 is set as the record date for the same.

Tata Power Company, Tata Chemicals, Tata Steel, Tata Consumer Products and Trent  are some of the promoters of  Tata Investment Corporation. 

(More to come)