Tata Investment Corporation jumped 5.28 per cent to Rs 2408.50 on bargain hunting after a recent steep sell-off. Tata Investment Corporation’s shares dropped 7.61 per cent in the previous trading session. On 15 September 2022, the stock hit a record of 2,886.50; on 20 June 2022, the share hit a 52-week low of Rs 1,218.

The stock underperformed the market over September, falling 8.22 per cent as compared with a 3.46 per cent decline in the Sensex. The scrip outperformed the market in the first quarter, soaring 76.97 per cent compared with Sensex’s 9.07 per cent rise. Also outperformed the scrip in the market for 2021, climbing 44.80 per cent against Sensex’s 4.97 declines.

On the daily chart, the stock was trading below its 50-day simple moving average (SMA) at 1973.62, 100-day simple moving average (SMA) at 1687.85 and 200-day simple moving average (SMA) placed at 1556.17. 

This company is to invest in long-term equity shares, listed and unlisted equity-related securities of the companies, and debt instruments. The important sources of income for Tata Investment Corporation consist of interest, profit on the sale of investments and dividends.

On a consolidated basis, the net profit of Tata Investment Corporation jumped 67.05 per cent to Rs 89.94 crore on a 64.70 per cent increase in total income to Rs 102.08 crore in the first quarter of FY23 over the first quarter of FY22.