Tata Technologies' Oversubscribed IPO: A Historic Milestone for Tata Group! Discover the 27th Stock's Surge, Positive Ratings, and Unprecedented Investor Confidence.

Tata Technologies' recent oversubscribed initial public offering (IPO) marks a significant milestone for the Tata Group, following a 19-year gap since the listing of Tata Consultancy Services (TCS) in 2004. The IPO, endorsed by positive ratings from analysts, is the 27th stock from the Tata Group to be listed.

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As of 12:24 pm on Wednesday, the ongoing Tata Technologies IPO had been oversubscribed by over 2.50 times, with the issue set to close on November 24. The company's price band is Rs 475 to Rs 500 per share, and its shares are currently trading at a premium of Rs 350 per share in the unlisted market, reflecting a 70 percent listing premium and investor confidence.

Geojit Financial Services, in a report, views Tata Technologies (TTL) positively, stating, "At the upper price band of Rs 500, TTL is available at P/E of 28.8x (FY24E annualized EPS), which appears reasonably priced compared to peers." 

Historically, Tata Group companies have rewarded investors significantly. Titan Company, with a gain of 49,395 percent since TCS's listing in 2004, stands out as the top gainer. Other notable gainers include Tata Elxsi (up 12,731 percent), Artson Engineering (up 9,770 percent), and Trent (up 8,798 percent). In comparison, the benchmark BSE Sensex surged around 1196 percent during the same period.

JM Financial issued a 'Buy' rating on Titan Company with a target price of Rs 3,705, recognizing its resilience and strength during the September quarter. Marcellus Investment Managers added Trent to its Rising Giant PMS strategy, noting Trent's near-term earnings growth linked to Westside, Zudio, and Star Bazaar. Trent's seemingly rich P/E multiple is justified by factors such as INDAS 116 impact, a drop in losses, and the potential turnaround of Star Bazaar format.

Beyond Titan and Trent, other Tata Group companies like Voltas, Rallis India, Benares Hotels, Tata Investment Corporation, Tata Consultancy Services, Tata Consumer Products, Nelco, Tata Coffee, Automobile Corporation of Goa, The Indian Hotels Company, and Tinplate Company of India have also exhibited substantial gains ranging between 1,200 percent and 6,500 percent since August 2004. These performances underscore the overall robustness and sustained growth of the Tata Group in the market.