This company of Tata suffered a loss of 9,800 crore in 145 minutes
Tata Investment Limited: You may have witnessed many U-turns in the stock market. Sometimes, the market opened with a rally and then turned into a significant decline within a few hours. Or, after a significant initial decline, the stock market saw a significant rally. This is rare. On Friday, Tata Investment Limited's shares witnessed a U-turn that left everyone stunned. In the first 45 minutes, the company's shares surged 12%, reaching a record 52-week high.
The company's shares then began a downward trend that lasted for 145 minutes. This resulted in a drop of more than 16% from its record high, resulting in a loss of ₹9,800 crore.
Let us explain why the company's shares are experiencing such volatility.
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Initially a 12% Rise
According to BSE data, the shares of this Tata Group company had a strong start, opening at ₹10,584. Soon, the company's shares reached a record 52-week high of ₹11,840. This means that the company's shares had already seen a 12% rise within 45 minutes of the stock market opening. It was speculated that the company's stock would continue to rise until market close, and prices would reach new highs. But this failed to happen, and investors began booking profits.
Falling over 16% at 145
The company's stock subsequently declined, continuing to fall to around 145, and the company's shares fell to the level of 9,900 rupees. According to BSE data, the company's shares fell 16.38%, or 1,940 rupees, from their 52-week record high.
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This could be considered a significant decline. As of 1:55 pm, the company's shares were trading at 10,173.05 rupees, a decline of 3.86%. Experts believe the company's shares are experiencing profit-booking.
Significant decline in the company's valuation
Notably, the company's valuation has also seen a significant decline, even after its shares reached a 52-week high. When the company's shares hit a record 52-week high, its market cap reached ₹59,904.83 crore. Subsequently, when the company's shares hit a day's low of ₹9,900, its valuation fell to ₹50,089.34 crore. Consequently, the company lost ₹9,815.49 crore in 145 minutes.
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