Page 7 - Tata Tech News Today

Additionally, Foreign Portfolio Investors (FPIs) made a net investment of Rs 14,860 crore in the debt market last month, making it the highest level in six years, data with the depositories showed.

FPIs returned to Indian markets in November, investing Rs 9,000 crore amidst falling US treasury bond yields and resilient domestic market. Additional

Tata Technologies, Gandhar Oil Refinery, Indian Renewable Energy (IREDA) and Flair Writing Industries made bumper debuts while Fedbank Financial Services disappointed investors

Bumper listings are becoming a norm. Out of the 101 IPOs that we saw in 2023 so far, 84 are still trading at a premium to their issue prices.

Analysts said the 163% surge on the opening day has made Tata Technologies a more expensive bet than some of these rivals with a more diversified client base. But the bet could pay off if investors have the patience to hold the stock for a longer period, they said.

The sole disappointment in this spectacular season for new listings was Fedbank Financial Services (Fedfina), which remained flat on its first day of trading.

India Business News: Applicants in the Rs 3,043-crore Tata Technologies maiden offering, who got shares of the company at Rs 500 apiece, saw their holding jump more than 2

The selling pressure in Tata Techs stock was amid high volumes with over 62.76 shares changing hands on the NSE at 9:50 am. The price correction also ensured its market cap slipped below its peer Tata Elxsi.

“In Tata Technologies today, around 65 lakh shares got traded in the market. If 65 lakh shares have traded, that means there have been sellers and more importantly there have been buyers at these prices. So, you have to respect the price. As they say in Hindi, bhav bhagwan hai, price is a reflection of the ultimate truth.”

Tata Technologies made its debut at Dalal Street on Thursday as the Tata Group-led firm was listed at Rs 1,200 per shares, a premium of 140 per cent over its issue price at Rs 500.