Boosted by a sharp rally in TCS and Tata Motors, the market capitalisation of the Tata Group, comprising of 18 firms, has gone past ₹30 lakh crore. More than half of the group’s market value comes from Tata Consultancy Services, the market cap of which hit the ₹15 lakh crore mark for the first time.
The surge was boosted by a deal the IT firm signed to transform Europe Assistance’s IT operating model using artificial intelligence and machine learning.
Tata Motors and Titan both had market value of over ₹3 lakh crore as on Tuesday.
Tata Motor’s shares are at an all-time high after the company reported a strong set of financial numbers for the quarter ended December. Besides a strong Q3, analysts gave Tata Motors a thumbs-up on its continued improvement in JLR, the PV and CV business, and reduced net automotive debt from current levels. Year-to-date its shares are up nearly 19 per cent.
Titan, however, has had a dismal start to the year, with its shares shedding 3.2 per cent.
Tata Steel, Tata Power, Tata Consumer Products and Trent contribute over ₹1 lakh crore each to the m-cap, while the newly listed Tata Technologies has a market cap of about ₹46,000 crore.
At ₹21.60 lakh crore, the Reliance Group holds the second position on the market-cap leaderboard. The Adani Group, with interests across various infrastructure sectors and capital-intensive commodities, is ranked third, with a combined market value of ₹15.54 lakh crore.
