Tata Technologies share: Shares of Tata Technologies Limited saw a fall of more than 3 percent today on January 22. At present this stock is trading at a price of Rs 800.65, down 2.03 percent. At the same time, the stock touched its 52-week low of Rs 789 intraday. In fact, the company has reported weak results in the December quarter of FY25. After this news its shares are being sold. With today’s fall, the market cap of the company has come down to Rs 32,455 crore. The stock’s 52-week high is Rs 1,179.
How were Tata Technologies’ quarterly results?
Tata Technologies reported a marginal decline in net profit at Rs 169 crore in the December quarter, down from Rs 170 crore reported in the same period last year. However, this is about 7 per cent higher than the profit of Rs 157 crore reported in Q2FY25.
The company’s revenue in the third quarter was Rs 1317 crore, which is 2 percent more than Rs 1289 crore in the same quarter of the last financial year. Sequentially, revenue grew 1.6 per cent from Rs 1296 crore in Q2FY25. Seasonal weakness in the services vertical was offset by a seasonal uptick in the products business.
Management expects the weakness in demand to end in the next two quarters. Management’s positive view has prompted JM Financial to increase Tata Tech’s earnings per share (EPS) ratio by 1-3 per cent. This increase is the first since the company’s market debut and indicates that earnings have now bottomed out.
Performance of Tata Technologies shares
Tata Group’s first IPO in two decades, the company made a grand entry into the stock market in 2023. However, the stock performed brilliantly initially and doubled from its IPO price of ₹500 to reach a high of ₹1179. However, it has been on a decline since then and is now down 33 per cent from its post-listing high.
Disclaimer: The information provided here is for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. Moneycontrol never advises anyone to invest money here.