Thursday, November 30, 2023

Home Business This is Tata's magic, it earned more than Rs 800 on one share on the first day itself.

This is Tata's magic, it earned more than Rs 800 on one share on the first day itself.

Newztezz Online November 30, 2023 Business,

The wait of investors is finally over, and the stock of the country's largest company Tata has been listed in the stock market today. As soon as the stock market opened, Tata shares made a strong entry. On the very first day, one share of Tata has earned investors more than Rs 800. That means, those who had invested Rs 15000 in IPO have got Rs 24000 today.

There is big news for those who invested money in the IPO of Tata Technologies. The allotment of shares of Tata Technologies has been done and its stock will be listed in the stock market today on NSE and BSE. In such a situation, people whose names have not appeared in the allotment can earn by buying stocks today. Before this, let us tell you that Tata Tech has made a big entry in the stock market on the very day of its listing. Within an hour of market opening, investors have made more than double profits. Let us tell you how many of these stocks have been listed in the stock market.

Share of Rs 500 was listed at Rs 1200.

This share of Tata Group was listed on BSE at Rs 1199.95 with a premium of 140%. At the same time, the company's shares were listed on NSE at Rs 1,200 with a premium of 140%. Shortly after listing, these shares rose by almost 180% from their issue price to Rs 1398 on BSE. Let us tell you that the price band of Tata Technologies IPO was fixed at Rs 475-500. Accordingly, investors made huge profits on the very first day of listing. Let us tell you that after 18 years, a Tata Group company has been listed in the stock market. Earlier in 2004, shares of Tata Consultancy Services (TCS) were listed.

Got tremendous response from investors

Let us tell you that the IPO of Tata Technologies had received tremendous response from investors. The IPO was subscribed 69.4 times on the third day. It had received a record 73.6 lakh applications. Let us tell you that the IPO opened on 22nd November and closed on 24th November. The company had launched IPO to raise Rs 3042 crore.