Press
With a bumper debut on exchanges not seen in two years, the market capitalisation of Tata Technologies at Rs 54,030.99 crore surpassed those of peer stocks KPIT Technologies and Tata Elxsi at Rs 40,523.93 crore and Rs 52,199.48 crore, respectively.
The bumper listing ensured that the market cap jumped more than two fold against Street’s expectation of post issue market capitalisation of Rs 19,269 crore – Rs 20,283 crore. The stock recorded a listing at Rs 1,200 per share on the NSE which was at a 140% premium over the issue price.
This article is published by The Economic Times