TPG sold the shares at Rs 1,014.16 per share, a 3.2 per cent discount to Monday’s closing price of Rs 1,048.65.
The stock closed today’s session at Rs 1,099.05 on the BSE, gaining Rs 50.40 or 4.81% over its previous closing price.
Meanwhile, Master Ghisallo Finance LP bought over 31.22 lakh shares for Rs 316.32 crore. Another buyer was Copthall Mauritius Investment Limited, which bought over 40 lakh shares at Rs 1,013 apiece, translating to Rs 406.27 crore.
Tata Technologies reported a 15 per cent decline in its consolidated net profit at Rs 162 crore for the first quarter ended June 2024. The same stood at Rs 191 crore in the year-ago quarter. Revenue Operating income rose marginally to Rs 1,269 crore in the reporting period. It was Rs 1,257 crore a year ago. EBITDA Services revenue in the June quarter stood at Rs 231 crore, while margins stood at 18.2 per cent for the period. On a segmental basis, services revenue declined 1 per cent QoQ to Rs 985 crore for the April-June 2024 period. The company said overall market conditions remained favourable as the manufacturing sector continues to prepare for the future through ongoing investments in alternative powertrains, software-defined products and services and smart manufacturing. “Confidence in our full-year outlook is driven by our order book, continued positive momentum across our anchor accounts and the tailwinds we expect to continue to find in the automotive, aerospace and heavy industrial machinery sectors,” said Warren Harris, MD & CEO, Tata Tech.
Tata Tech has secured five strategic deals in the automotive and aerospace sectors during the reporting quarter.
The company said its strong cash flow Efficient collections and management remain priorities going forward.
Read also: 4 Tata Group shares surge 37% after posting multibagger returns. Should you buy?
(Disclaimer: The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of Economic Times)
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.