TPGA per share Rs. 1,014.16 sold shares at Rs. 1,048.65 off Monday’s closing price of 3.2%.
Shares traded today on BSE at Rs. 1,099.05 to end the session, up from the previous closing price of Rs. 50.40 or an increase of 4.81%.
Meanwhile, Ghisallo Master Fund LPA Rs. 31.22 lakh shares were bought for 316.32 crores. Another buyer was Copthal Mauritius Investments Ltd. which paid Rs. 1,013 at Rs. 406.27 crores were bought 40 lakh shares.
Tata Technology reported a 15% decline in its consolidated net profit for the first quarter ended June 2024. Income from operations increased marginally during the reporting period to Rs. 1,269 crores. A year ago it was Rs. 1,257 crores.
Operating EBITDA for the June quarter was Rs. 231 crore, while the margin was 18.2% in the period. Segment-wise, services revenue declined 1% quarter-on-quarter in the April-June 2024 period to Rs. 985 crore has been done.
The company said overall market conditions remain favorable as the manufacturing sector continues to future-proof itself through ongoing investments in alternative propulsion systems, software-defined products and services, and smart manufacturing.
“Confidence in our full-year prospects is bolstered by continued positive momentum in our order book, our anchor accounts and tailwinds that we expect to continue to intersect with automotive, aerospace and industrial heavy machinery,” said Warren Harris, CEO and CEO. MD, Tata Tech.
Tata Tech won five strategic deals in automotive and aerospace during the reporting quarter.
The company said its strong cash flow management and efficient collection process are priorities going forward.
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