Tata Investment shares rally 9% after board approves first-ever stock split
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Stock moves and technical
Shares of Tata Investment Corporation climbed as much as 9.2% on Tuesday to Rs 7,625 on the BSE after the company's board approved its maiden stock split in a move aimed at improving liquidity and accessibility for retail investors. The announcement came alongside its June quarter results, which showed a double-digit rise in profit.The board of Tata Investment Corporation on Monday approved the sub-division of its equity shares in a 1:10 ratio, from one share with a face value of Rs 10 to ten fully paid-up equity shares with a face value of Re 1 each.In its exchange filing, the company said the stock split was designed 'to make the equity shares of the company more affordable for the retail investors and to encourage wider participation in the company's ownership'. The Tata Group-firm said that the sub-division is expected 'to improve the liquidity of the equity shares of the company in the stock market'.The decision is subject to shareholder approval via postal ballot, in addition to any required statutory or regulatory clearances. The company said it would announce the record date for the stock split 'in due course', once all approvals are in place.This is the first time Tata Investment has undertaken a stock split since listing. The company last offered bonus shares in 2005, in a 1:2 ratio, according to Trendlyne data.Tata Investment also reported its financial results for the quarter ended June 2025. Consolidated profit after tax rose 11.6% year-on-year to Rs 146.30 crore, compared to Rs 131.07 crore in the same period last year. Revenue from operations stood at Rs 145.46 crore, up 2.1% from Rs 142.46 crore in Q1FY25.The stock has advanced 6.1% year-to-date and is up 21.6% over the past 12 months. In the last one month alone, it has gained nearly 8%.From a technical perspective, Tata Investment shares are trading above all eight of their key simple moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day levels, signalling sustained bullish momentum across timeframes.The Relative Strength Index (RSI) is at 65.2, indicating that the stock is approaching overbought territory but remains within a neutral range. Meanwhile, the Moving Average Convergence Divergence (MACD) stands at 43.1 and continues to hover above both the centerline and signal line, underscoring the strength of the ongoing uptrend.Also Read: Sri Lotus Developers IPO: Latest GMP suggests SRK, Big B and Ashish Kacholia may pocket 28% gains (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
5 minutes ago
- Business Standard
Sebi bans DHFL's Kapil Wadhawan, Dheeraj Wadhawan from securities market
Markets regulator Sebi on Tuesday barred Dewan Housing Finance Ltd's former CMD Kapil Wadhawan, ex-director Dheeraj Wadhawan, and four others from the securities markets for up to five years for committing financial irregularities, diverting funds, and fabricating books. The others who have been prohibited by Sebi are -- Rakesh Wadhawan, who was non-executive chairman, Sarang Wadhawan, a former non-executive director, Harshil Mehta, joint managing director & CEO, and Santosh Sharma, a former CFO. Sebi also fined the six individuals Rs 120 crore. Kapil Wadhawan and Dheeraj Wadhawan have each been restrained from the securities markets for five years, while Rakesh Wadhawan and Sarang Wadhawan face a four-year ban, and Harshil Mehta and Santosh Sharma have been prohibited for three years, according to the Sebi order. During these periods, they cannot access the securities market, deal in securities in any manner, or hold any role such as director or key managerial personnel in listed companies, registered intermediaries, or public companies intending to raise funds from the market. Kapil Wadhawan and Dheeraj Wadhawan have each been fined Rs 27 crore, while Rakesh Wadhawan and Sarang Wadhawan face penalties of Rs 20.75 crore each. Harshil Mehta has been fined Rs 11.75 crore, and Santosh Sharma faces a total penalty of Rs 12.75 crore. In its 181-page order, Sebi noted that since 2006, DHFL, along with its promoters, directors, and key managerial personnel, have engaged and participated in an "egregiously fraudulent scheme" to divert funds to "Bandra Book Entities" (BBEs) linked to the promoters. By March 31, 2019, DHFL's loans to BBEs stood at Rs 14,040.50 crore. The BBEs were directly or indirectly connected to Kapil, Dheeraj Rakesh and Sarang, it added. As per the order, promoters issued huge unsecured loans to these entities despite their lack of assets or business, bypassing all due diligence, and falsely recording them as retail housing loans. The regulator found that the fraud operated in several steps. First, large unsecured loans were extended to these BBEs even though they had no net worth, assets, or cash flows to justify such exposure. Second, all standard loan appraisal processes were deliberately bypassed. Third, these weak intercorporate loans to related parties were misrepresented as retail housing loans, creating a false impression of the company's financial health for investors and other stakeholders. "To effect this elaborate deception, a fake virtual branch ('Bandra branch') and previously closed retail loan accounts were employed, alongside three different accounting software, camouflaging the BBE loans as retail housing loans. In the initial years, well over 30 per cent of all loans of DHFL were to these BBEs," Sebi noted. Despite the BBEs not making interest or principal payments, DHFL booked fictitious interest income, which allowed it to show increasing profits instead of losses between FY 2007-08 and FY 2015-16. These misleading financials misled shareholders and distorted DHFL's share price. According to Sebi, the main orchestrators of the fraudulent scheme were Kapil Wadhawan and his brother Dheeraj Wadhawan. Rakesh and Sarang Wadhawan were also involved through their roles on DHFL's board. The investigation found that loans worth Rs 5,662.44 crore were disbursed to 39 BBEs, of which 40 per cent was subsequently routed to 48 other entities connected to the promoters. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
&w=3840&q=100)
Business Standard
5 minutes ago
- Business Standard
Analysts at Motilal Oswal suggest buying these three stocks today; details
The Nifty index opened flattish and after the initial gains, it slipped lower. It failed to hold above 24700 zones and anchored with minor attempts of recovery but it eventually faded. The index slipped to 24465 levels and closed with losses of around 100 points. It formed a bearish candle on the daily frame with a longer upper shadow indicating pressure intact at the higher zones. Now if it manages to hold above 24442 zones then up move can be seen towards 24700 then 24800 zones while supports can be seen at 24350 then 24250 zones. On option front, Maximum Call OI is at 24600 then 24700 strike while Maximum Put OI is at 24500 then 24400 strike. Call writing is seen at 24700 then 24600 strike while Put writing is seen at 24550 then 24600 strike. Option data suggests a broader trading range in between 24000 to 25000 zones while an immediate range between 24300 to 24700 levels. Bank Nifty index opened on a flattish note and extended the momentum towards 55566 marks in the initial hour of the session. However it failed to hold at higher levels and gradually drifted lower towards 55000 zones in the latter part of the session. It formed a bearish candle on daily scale as some pause was seen at higher zones but is hovering near its 100 DEMA. The index has got stuck in a range of 700 points from the last few sessions as momentum is missing on either side. Now it has to hold above 55000 zones for a bounce towards 55250 then 55555 zones while a hold below the same could see some weakness towards 54750 then 54500 levels Buy MCX | CMP 8151 | SL 7855 | TGT 8765 Stock has broken out of a narrow range on the daily scale with a strong bodied bullish candle. The RSI indicator has given a bullish crossover which confirms the positive momentum. Buy | Max Financial Services | CMP 1588 | SL 1520 | TGT 1740 Price has given a range breakout with higher than average traded volumes and surpassed above its 50 DEMA which suggests continuation of the uptrend. The MACD indicator has given a positive crossover to support the up move. Buy Hero MotoCorp | CMP 4645 | SL 4500 | TGT 5000 Stock has retested its breakout from a consolidation zone. Buying was visible across the Auto space which may support the upwards momentum. The ADX line is rising which confirms the strength of the uptrend.
&w=3840&q=100)
Business Standard
5 minutes ago
- Business Standard
Court takes cognisance against ABG Shipyard in ₹22,000 cr bank fraud case
A Rouse Avenue court has taken cognizance of a ₹22,000 crore alleged bank fraud and funds siphoning case against Surat, Gujarat-based ABG Shipyard Ltd, its former Director, Auditor, public servants, and subsidiary companies. It is alleged that ABG Shipyard Ltd transferred huge amounts of money to its related parties, and thereafter, adjustment entries were made. The Central Bureau of Investigation (CBI) had filed a charge sheet, supplementary charge against 6 individuals and 17 companies and firms. The Chief Judicial Magistrate (CJM) Deepak Kumar, after taking cognizance, issued summons to the accused persons to appear before the court on the next date on August 22. CJM Deepak Kumar said, "I have perused the chargesheet and supplementary charge sheet alongwith the documents annexed with it, including the statements of the witnesses recorded under Section 161 CrPC and have considered the submissions made by the public prosecutor for the CBI and the Investigation Officer." The court said that there are clear and categorical findings in the final report and supplementary final report against the accused persons regarding the commission of offences for which they have been chargesheeted for the offences punishable under Section 120B/420/477A IPC and substantive offences thereof. "Accordingly, in view of the foregoing discussion and material available on record, I take cognizance," CJM Kumar ordered on August 11. The CBI had registered a case on August 25, 2020, on the complaint filed by the consortium of banks, including SBI. The case was registered against M/s ABG Shipyard Ltd, its former managing director Rishi Kamlesh Agarwal, Santhanam Muthuswamy), Ashwini Kumar, Sushil Kumar Aggarwal, Ravi Vimal Newatia, M/s ABG International Pvt Ltd, unknown public servants and unknown private persons alleging the commission of offences of cheating, criminal breach of trust, criminal conspiracy and abuse of official position thereby causing wrongful loss to the tune of Rs. 22,842 crore to the consortium of lending banks comprising of State Bank of India (SBI), erstwhile State Bank of Patiala (presently SBI), erstwhile State Bank of Travancore (presently SBI) etc, led by ICICI Bank. During the investigation, other accused were interrogated and arrayed in the supplementary charge sheet. It is stated that the Investigation has also revealed that the accounts were falsified and misrepresented by the accused persons in criminal conspiracy with each other and thereby defrauded the lender banks by presenting false figures before the lenders and shareholders. Investigation has pointed out that ABG Shipyard, in criminal conspiracy with its promoters, directors, and other key managerial persons, had availed credit facilities from the banks fraudulently. Thereafter, it dishonestly diverted a huge amount of bank funds with ulterior motives to its group concerns. Investigation has further alleged that ABG Shipyard had siphoned off funds for acquiring 14 residential flats in Mumbai for a consideration amount of Rs. 33.50 crores. These flats were purchased by an accused company which was under the control of Rishi Kamlesh Agarwal, Former MD of ABG Shipyard.
