Tata Investment Corp is currently the top gainer on the BSE; opening 3% higher at Rs.1413.95, the stock surged over 8.5% to hit an intraday high at Rs.1535. Volumes are up over 8x.
The stock surged after the company reported good earnings for Q1FY23. It reported a 66% (YoY) jump in consolidated net profit at Rs.90 crore, driven mainly by higher dividend income.
Total revenue from operations during the quarter under review stood at Rs 102 crore v/s Rs.62 crore. Dividend income stood at Rs 74 crore v/s Rs.41 crore.
The company’s total expenses, which is engaged in investment activities, stood at Rs 11 v/s Rs.6 crore.