Tata Group's shares have suffered a steep decline over the last two days, inflicting significant losses on investors in one of its companies. Before this downturn, these shares had delivered a robust return of nearly 44%. We're discussing Tata Chemicals, whose stocks tumbled by 18% during this period.
Shares of Tata Chemicals Ltd reached an all-time high on March 7, 2024, surging 43.67% over six days to an unprecedented 1,349.70 INR per share. However, following this high, Tata Chemicals shares have been in decline. A recent news item has contributed to an 18% fall in the company's share price.
Decline in Tata Investment Shares Too
On Monday, Tata Chemicals' shares plummeted over 12%, with another drop of nearly 6% occurring today. However, the market saw a recovery, and Tata Chemicals shares closed at 1,146 INR per share, down by 2.50%, on Tuesday. Tata Investments shares have also been trading at the lower circuit for the past two days, today falling by 5% to 8,805 INR.
These Tata Shares Also Faced a Downturn
Tata Power shares declined by 4% to close at 396.40 INR on Tuesday. Tata Steel shares dipped 0.75%, ending at 152.30 INR. Tata Motors shares fell 0.88% to close at 1,019 INR, while Tata Technology shares dropped 1.60%, concluding at 1,067.30 INR. Nevertheless, TCS shares experienced a rise of 1.75% today, trading at 4,194.55 INR.
Why are Tata's Stocks Falling?
Recent news mentioned that per RBI regulations, Tata Sons must launch its IPO by 2025, after which Tata Group's shares saw a significant surge. However, the climb halted when Tata Sons began to explore options to avoid the IPO, leading to a decline in Tata Group shares, with Tata Chemicals experiencing the most significant drop due to its 3% stake in Tata Sons.
