Tata Motors is India's largest commercial vehicle company and the fourth-largest PV player. In PVs, the company has products in the compact and mid-size cars and utility vehicle segments.
"The company s global presence and expertise in engineering solutions have positioned it as a preferred partner for multinational corporations across diverse industries. Its diversified customer portfolio, robust delivery network, and emphasis on innovation further solidify its competitive advantage," Shivani Nyati of Swastika Investmart said.
Beating all estimates in the grey market, where shares were said to be trading at a premium of about 80%, Tata Tech shares listed at a 140% premium and then went on to rally another 17% to take the total gain at day s high price to as much as 180%. In recent years, the best IPO in terms of listing gain was that of Sigachi Industries which debuted on November 15, 2021, at 253% premium. The stock debuted at Rs 575 per share against an issue price of Rs 163.
At a 140% premium over the issue price of Rs 500, Tata Technologies listing price of Rs 1,200 beat Street s estimates. While the stock was expected to double on the listing, it went far beyond, hitting the day s high of Rs 1,400 on the NSE or a 180% uptick over the upper IPO price band.
Shares of Tata Technologies Ltd were listed a premium of 140 per cent on both NSE and BSE at price of Rs 1,200 and Rs 1,199.95 on Thursday, against the issue price of Rs 500.