Tata Investment shares zoomed 19% today; here's what analysts say

Shares of Tata Investment Corporation Ltd soared 18.60 per cent in Wednesday's trade to hit a high of Rs 6,207.20. The stock was last seen trading 14.04 per cent up at Rs 5,968.60. At this price, it has slipped 12.92 per cent on a year-to-date (YTD) basis.

The counter saw high trading volume on BSE as around 30,000 shares changed hands at the time of writing this story. The figure was higher than the two-week average volume of 4,114 shares. Turnover on the counter came at Rs 18.05 crore, commanding a market capitalisation (m-cap) of Rs 30,151.76 crore. There were 2,780 buy orders today against sell orders of 2,364 shares.

On technical setup, support for Tata Investment shares could be seen in the 5,700-5,650 zone. Resistance may be found above Rs 6,400 level.

Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One, said, "The stock has experienced a significant surge in price and volume. In the short term, resistance levels are identified between Rs 6,400 and Rs 6,600, while support is observed in the Rs 5,700-5,650 range."

Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi, said, "Support will be at Rs 5,700 and resistance will be at Rs 6,200. A decisive move above Rs 6,200 level may trigger a further upside towards Rs 6,500. The expected trading range will be between Rs 5,500 and Rs 6,500 for the short term."

Sebi-registered research analyst AR Ramachandran said, "Tata Investment stock price is bullish on daily charts. A daily close above the resistance of Rs 6,110 could lead to an upside target of Rs 6,900 in the near term."

The scrip traded higher than the 5-day, 10-, 20-day and 30-day simple moving averages (SMAs) but lower than the 50-day, 100-, 150-day and 200-day SMAs. The stock's 14-day relative strength index (RSI) came at 52.89. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the company's stock has a price-to-equity (P/E) ratio of 93.71 against a price-to-book (P/B) value of 0.73. Earnings per share (EPS) stood at 55.85 with a return on equity (RoE) of 0.78.

As of December 2024, promoters held a 73.38 per cent stake in the Tata Group firm.