Profit of Tata Investment Corporation increases by 66.52%

 On July 27, at 11:30 am, the shares of Tata Investment Corporation are trading at Rs 1521.8, up by 7.63% for the day.

On July 27, the market is trading positively. At 11:30 am, BSE S&P Sensex is up 0.41%, trading at 55497.59. Among the BSE group “A”, Tata Investment Corporation Ltd is the top gainer.

At 11:30 am, the shares of Tata Investment Corporation are trading at Rs 1521.8, 7.63% higher for the day. The rally in the stock is fueled by the strong quarterly result which the company disclosed after yesterday's market close.

The total revenue from operations for the June 2022 quarter stood at Rs 101.97 crore, showcasing a 64.73% YOY growth from Rs 61.9 crore in June 2021 quarter. The profit after tax (PAT) number also improved from Rs 53.89 crore to Rs 89.74 crore with 66.52% YOY growth.

However, long-term growth numbers look poor for the company. The 5-year sales and net profit CAGR growth stood at -1% and 0%, respectively.

Tata Investment Corporation Ltd is involved in the business of investing in equity shares, debt instruments, mutual funds, and other financial products of firms across a variety of industries, both public and unlisted. The company is registered with the RBI as an NBFC under the Investment Company category.

The company was formerly known as Investment Corporation of India Limited. The company has a 95.57% stake in Simto Investment Co Ltd, which acts as a subsidiary of the company. As per the March period ending, the company has an ROE, ROCE, and dividend yield of 1.36%, 1.2%, and 3.58%, respectively. The company is debt free.

The company has a market capitalization of Rs 7,696 crore. The shares of Tata Investment are trading at 0.37 times its book value and a PE multiple of 31.4x.

On July 27, the stock opened at Rs 1456 and so far, at 11:30 am, has made an intraday high and low of Rs 1539.85 and Rs 1450, respectively. The stock has a 52-week high and low of Rs 1734 and Rs 1117.4, respectively.