Thursday, October 31

Q2 results today: Tata Investment among 7 companies to announce earnings on Thursday

The second quarter earnings season is underway and 7 companies will announce their quarterly numbers for the July-September 2024 period today. Investors can watch out for the results of Tata Investment.Apart from the above, BF Investment, BF Utilities, Last Mile Enterprises, Narayana Hrudayalaya, Sonalis Consumer and Sudarshan Pharma will also announce their quarterly results.Erstwhile Investment Corporation of India, Tata Investment Corporation is primarily involved in investing in long-term investments such as equity shares and equity-related securities.TICL was promoted by Tata Sons under the name The Investment Corporation of India Limited. Tata Sons, together with other Tata companies, holds approximately 73.38% of the paid-up capital in it.The company had reported consolidated revenue from operations at Rs 142.46 crore in the quarter ended June 30, 2024, which had jumped by 149% over the March 2024 ended quarter. However, it was 6% lower versus Rs 151.60 crore reported by the company in the year ago period.The consolidated net profit in Q1FY25 stood at Rs 131.07 crore which was up from Rs 60.47 crore in Q4FY24 and down from Rs 146.81 crore Q1FY24. It was higher by 117% on a sequential basis while declining by 11% on a YoY basis.Tata Investment Corporation has delivered multibagger returns of 120% over the last one year, which is a significant outperformance over Nifty which has yielded 27% returns in this period. On the year-to-date basis, the returns stand at 58% as against 12% given by the broader index.According to Trendlyne data, the counter is trading above its 200-day simple moving average (SMA) of Rs 6,525.2 while below its 50-day SMA Rs 6,845.7.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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