Heavy buying: Back-to-back upper circuit in this multibagger Tata stock; hits fresh 52-week high!

Shares of the company gained more than 270 per cent in the last six months.

Shares of Tata Investment Corporation Limited were locked in the upper circuit on Wednesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock has also made a fresh 52-week high today.

The shares of Tata Investment Corporation Limited have also delivered multibagger returns to its shareholders in the last one year. During this period, the company's share price surged from Rs 2012.30 on March 08, 2023, to Rs 9292.25 on March 06, 2024, representing an increase of about 330% in a one-year holding period. An investment of Rs 1 lakh in this company's shares one year ago would have grown to Rs 4.30 lakh today. 

Also read, Intraday Trading vs. Long-Term Investing: Exploring the Risks and Rewards

The company posted robust Quarterly Results. The revenue of the company for Q3FY24 stood at Rs 50.55 crore which increased by 34.23 per cent YoY. The operating profit of the company stood at Rs 45.23 crore, while the PAT of the company stood at Rs 37.58 crore, from a profit of Rs 23.81 crore last year same quarter.

Tata Investment Corporation Limited is primarily engaged in the business of investment in listed and unlisted equity shares, debt instruments and mutual funds, etc. of companies in a wide range of industries. The company is a NBFC registered with the RBI under the category of Investment Company

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.