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The article discusses the recent surge in Tata Investment Corporation Ltd's share price, highlighting a 23.47% gain in just two trading days. The stock's sharp upward trajectory has attracted attention from market analysts, who are dissecting the reasons behind this significant jump and speculating about its future trajectory.
Several factors are contributing to the bullish sentiment surrounding Tata Investment. Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, points to strong buying interest in holding companies due to their attractive valuations at current levels. This trend has seemingly boosted Tata Investment shares as well.
Technical analysts are also weighing in, providing insights into potential support and resistance levels. Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi Shares and Stock Brokers, identifies Rs 7,260 as a support level and Rs 8,000 as resistance. He predicts a further upside towards Rs 8,300 if the stock closes decisively above Rs 8,000.
Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking, shares a similar view, suggesting investors consider buying the stock around Rs 7,580, with near-term resistance at Rs 8,000. He believes a decisive close above this level could fuel the next leg of the rally.
The article also delves into the company's financial performance, highlighting its price-to-equity (P/E) ratio of 130.72, price-to-book (P/B) value of 1.26, and return on equity (RoE) of 0.96. Promoters hold a significant 73.38% stake in the company.
While the article emphasizes the recent bullish momentum in Tata Investment shares, it's essential to approach stock market investments with caution. Past performance is not a guarantee of future returns, and market conditions can change quickly. Investors should conduct thorough research, consult with financial professionals, and understand their own risk tolerance before making any investment decisions.
Source: Tata Investment shares jump 23% in 2 days; how strong is this upmove?