The bumper Dalal Street debut of Tata Technologies boosted the Tata Group’s overall market capitalisation to a new high of ₹26.20 lakh crore on Thursday. The stock of engineering unit of Tata Motors rallied as much as 180% on debut and delivered one of the best ever gains for a public offering of its size.
Barring Rallis India, all the Tata group companies have generated positive returns so far in 2023. While the stocks of Benares Hotels , Automotive Stampings & Assemblies and Trent have more than doubled since January this year, others like Tata Motors and Tata Investment Corporation surged 81% and 94%, respectively.
However, in US Dollar terms, the combined market capitalisation of the Tata Group is still $24 billion away from its previous peak of $338 billion, which it scaled in January 2022. That is due to the depreciation of the rupee, which has declined 11% against the greenback, since January 2022.
With a market capitalisation of over ₹53,000 crore, Tata Technologies became the ninth most valued Tata Group company. Interestingly, the newly listed company is currently contributing to more than 2% of the overall group market capitalisation, a share higher than Tata Elxsi, Tata Communications, Voltas and Tata Chemicals.
Tata Group Stocks Market Capitalisation (In ₹ crore)
TCS 12.83 Lakh
Titan 3.09 Lakh
Tata Motors 2.6 Lakh
Tata Steel 1.57 Lakh
Trent 0.99 Lakh
Tata Consumer Products 0.87 Lakh
Tata Power 0.85 Lakh
Indian Hotels 0.6 Lakh
Tata Tech 0.53 Lakh
Tata Elxsi 0.52 Lakh
But unlike previous milestones, most group companies have participated in the current rally. As a result, TCS, the group’s largest firm, which accounted for nearly 75% of the group’s overall market capitalisation in 2020, now accounts for less than 50% of the same.
Stocks like Tata Motors, Trent and Titan have been the leading contributors to the market capitalisation addition. While Tata Motors has seen its market capitalisation rise by ₹1.2 lakh crore in 2023, Titan and Trent have seen theirs grow by ₹75,000 crore and ₹50,000 crore respectively.
While Tata group occupies the top position as the most valuable business conglomerate in the country, the Mukesh Ambani-led Reliance group ranked second with a market capitalisation of Rs 16.4 lakh crore.