1 week ago
The six Tata Group constituents, Tata Consultancy Services (TCS) Ltd., Tata Steel Ltd., Tata Motors Ltd., Titan Company Ltd., Tata Consumer Products Ltd. and Trent Ltd., which are part of the benchmark Nifty 50 index, have together shed over ₹1 lakh crore in market capitalisation courtesy of the fall witnessed by them on Monday, April 7.
Shares of Trent are the top losers on the Nifty 50 index on Monday, having declined as much as 17% after the company reported its March quarter business update.
Trent's revenue in the March quarter grew by 28% from last year, while its revenue for the full year grew by 39%. The fall has led to Trent shedding over ₹30,000 crore in market capitalisation.
Tata Motors is the other major loser among the Tata Group names. The stock fell 10% after its subsidiary Jaguar Land Rover paused shipments to the US in lieu of the automobile import tariffs imposed by US President Donald Trump.
Tata Motors are down to the lowest level since June 2023, after plunging below their recent 52-week low of ₹606, resulting in a market cap erosion of over ₹20,000 crore.
The other major loser on the Nifty 50 among Tata Group stock is Tata Steel, having declined as much as 11% on Monday.
As many as 1.4 crore shares or 0.1% of the company's total equity worth ₹183 crore changed hands in multiple blocks. Buyers and sellers are not immediately known. Tata Steel too, has lost nearly ₹20,000 crore in market capitalisation.
Tata Group's cash cow, Tata Consultancy Services (TCS) is down over 5% on Monday ahead of its fourth quarter results, which will be reported later this week.
Rising fears of recession in the US have taken the stock to a 52-week low and Monday's drop has wiped out nearly ₹60,000 crore of the company's cumulative market capitalisation.
Titan and Tata Consumer Products are the other two Tata Group stocks that are bucking the trend in a way but not declining as much as their other group companies.
While Titan shares are down 3%, those of Tata Consumer are down close to 2%, cumulative contributing to a market capitalisation erosion of ₹10,000 crore.
