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 Techs headcount has increased by 8% from FY23-end despite ongoing ramp-down in Vinfast. This indicates that the company has been able to redeploy resources and back-fill Vinfast revenues.
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 stock opened at Rs 1,200 on the National Stock Exchange, higher by 140 percent over the issue price of Rs 500 per share and touched a record high of Rs 1,400 in initial trade