Tata Technologies reported a 27.39 per cent year-on-year (YoY) fall in the consolidated net profit at Rs 157.24 crore for the quarter that ended on March 31, 2024.
Shares of Tata Technologies gained more than 4.2 per cent to Rs 1138.80 during the trading on Wednesday, commanding a total market capitalization of more than Rs 46,000 crore.
Tata Technologies shares rose over 6% post joint venture with BMW to develop automotive software hubs. Warren Harris, CEO and MD, highlights commitment to digital engineering solutions for BMW, propelling digital transformation.
The selling pressure in Tata Tech s stock was amid high volumes with over 62.76 shares changing hands on the NSE at 9:50 am. The price correction also ensured its market cap slipped below its peer Tata Elxsi.