Hot Pursuit     01-Jun-11
Tata Investment Corporation spurts as Tata Sons hikes stake
Tata Investment Corporation spurted 9.63% at Rs 538 at 10:16 IST on BSE after the company's promoter Tata Sons raised its stake in the firm to 68.26% from 65.21% earlier through conversion of detachable warrants.

Tata Investment Corporation unveiled the shareholding disclosure after market hours on Tuesday, 31 May 2011.

Meanwhile, the BSE Sensex was up 110.82 points, or 0.60%, to 18,614.10.

On BSE, 1.35 lakh shares were traded in the counter as against an average daily volume of 2.28 lakh shares in the past one quarter.

The stock hit a high of Rs 553.50 and a low of Rs 500 so far during the day. The stock had hit a 52-week high of Rs 669.90 on 1 October 2010 and a 52-week low of Rs 449.60 on 24 May 2011.

The stock had underperformed the market over the past one month until 31 May 2011, falling 7.20% compared with the Sensex's 3.31% fall. The scrip had underperformed the market in past one quarter, falling 3.43% as against 3.81% gain in the Sensex.

The mid-cap investment company has an equity capital of Rs 55.09 crore. Face value per share is Rs 10.

Tata Investment Corporation's net profit fell 13.4% to Rs 22.59 crore on 3.8% decline in operating income to Rs 33.31 crore in Q4 March 2011 over Q4 March 2010.

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