&w=3840&q=100)
Tata Tech shares drop 6% after block deal; Here's the likely seller
Tata Tech's stock fell as much as 6.03 per cent during the day to ₹663.05 per share, the biggest intraday loss since April 7 this year. The stock pared losses to trade 4.8 per cent lower at ₹671.7 apiece, compared to a 0.47 per cent advance in Nifty50 as of 9:35 AM.
The stock is the worst performer on the NSE Nifty 500 and BSE 500 indices, according to Bloomberg.
Tata Tech's counter has fallen over 7 per cent from its recent high of ₹731, which it hit early this month. The stock has fallen 25 per cent this year, compared to a 3.2 per cent advance in the benchmark Nifty50. The Tata Group company has a total market capitalisation of ₹27,309.61 crore, according to BSE data.
Tata Tech block deal
About 16 million shares, or a 3.94 per cent stake of Tata Tech, changed hands on the National Stock Exchange in a single transaction, according to Bloomberg data. Buyers and sellers for the transaction were not known immediately.
However, as per the term sheet viewed by the wire agency, TPG Rise Climate was offloading 15.86 million shares of the company at a price range of ₹670 to ₹698.5 per share. The price range was a 1 per cent to 5 per cent discount to the closing price of the stock on April 28.
Tata Tech Q4 results
The global product engineering and digital services firm reported a 20.12 per cent rise in consolidated profit after tax at ₹188.87 crore in the fourth quarter ended March 2025 on the back of higher income and lower expenses. The company had posted a consolidated profit after tax of ₹157.24 crore in the same quarter of the year-ago fiscal.
Total expenses in the fourth quarter were at ₹1,088.20 crore as against ₹1,094.4 crore in the year-ago period.
For the fiscal year ended March 2025, PAT was at ₹676.95 crore as compared to ₹679.37 crore in the preceding financial year. Consolidated total income in FY25 was at ₹5,292.58 crore as against ₹5,232.75 crore a year ago.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
2 hours ago
- Economic Times
Maruti Suzuki beats estimates in Q1 as exports offset weak domestic demand; Hyundai profit dips 8% despite sales rise
Maruti Suzuki reported a 1.7% YoY rise in Q1FY26 profit to Rs 3,711.7 crore, driven by strong exports amid weak domestic demand. Hyundai India saw an 8% profit drop, offset by 37.4% export growth. Both automakers faced rising costs and a sluggish local market but benefited from robust overseas sales. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The country's largest carmaker, Maruti Suzuki , on Thursday beat street estimates to report a 1.7% increase in standalone net profit at Rs 3,711.7 crore for the first quarter ended June 30, 2025, backed by robust exports , even as demand remained sluggish in the local company had posted a net profit of Rs 3,649.9 crore in the corresponding period of the previous financial year. According to analysts' consensus estimates compiled by Bloomberg, the standalone net profit was projected to decline by 16% to Rs 3,075.8 crore from Rs 3,650 crore in the period under auto major Hyundai Motor India (HMIL) on Wednesday reported an 8% decline in consolidated net profit to Rs 1,369.23 crore in Q1FY26 During the quarter, the company registered net sales of Rs 36,624.7 crore, an increase of 8.1% over Rs 33,875.3 crore recorded in Q1FY25. Total expenses rose by 11% to Rs 35,402.4 crore in the first quarter, compared to Rs 31,817.4 crore in the year-ago a statement, the company said, 'In Quarter 1, the domestic passenger vehicle industry continued to witness a sluggish demand environment. For the company, a decline in domestic sales of 4.5% was compensated by a robust 37.4% growth in exports, resulting in an overall sales volume increase of 1.1% year-on-year for the quarter.'Maruti Suzuki sold a total of 527,861 vehicles last quarter, comprising domestic sales of 430,889 units and exports of 96,972 of Maruti Suzuki closed at Rs 12,634.46 apiece, up 0.10% on the BSE. The benchmark index fell 0.36% to 81,185.58 on Thursday.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
2 hours ago
- Time of India
Maruti Suzuki beats estimates in Q1 as exports offset weak domestic demand; Hyundai profit dips 8% despite sales rise
Maruti Suzuki reported a 1.7% YoY rise in Q1FY26 profit to Rs 3,711.7 crore, driven by strong exports amid weak domestic demand. Hyundai India saw an 8% profit drop, offset by 37.4% export growth. Both automakers faced rising costs and a sluggish local market but benefited from robust overseas sales. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The country's largest carmaker, Maruti Suzuki , on Thursday beat street estimates to report a 1.7% increase in standalone net profit at Rs 3,711.7 crore for the first quarter ended June 30, 2025, backed by robust exports , even as demand remained sluggish in the local company had posted a net profit of Rs 3,649.9 crore in the corresponding period of the previous financial year. According to analysts' consensus estimates compiled by Bloomberg, the standalone net profit was projected to decline by 16% to Rs 3,075.8 crore from Rs 3,650 crore in the period under auto major Hyundai Motor India (HMIL) on Wednesday reported an 8% decline in consolidated net profit to Rs 1,369.23 crore in Q1FY26 During the quarter, the company registered net sales of Rs 36,624.7 crore, an increase of 8.1% over Rs 33,875.3 crore recorded in Q1FY25. Total expenses rose by 11% to Rs 35,402.4 crore in the first quarter, compared to Rs 31,817.4 crore in the year-ago a statement, the company said, 'In Quarter 1, the domestic passenger vehicle industry continued to witness a sluggish demand environment. For the company, a decline in domestic sales of 4.5% was compensated by a robust 37.4% growth in exports, resulting in an overall sales volume increase of 1.1% year-on-year for the quarter.'Maruti Suzuki sold a total of 527,861 vehicles last quarter, comprising domestic sales of 430,889 units and exports of 96,972 of Maruti Suzuki closed at Rs 12,634.46 apiece, up 0.10% on the BSE. The benchmark index fell 0.36% to 81,185.58 on Thursday.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
2 hours ago
- Time of India
China manufacturing sinks again in July as US trade talks stall
Advt Advt Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. China's factory output shrank more than expected in July, official data showed on Thursday, logging its fourth straight month of contraction as Beijing battles to hammer out a trade deal with the United Purchasing Managers' Index -- a key measure of industrial output -- came in at 49.3, the National Bureau of Statistics (NBS) said, down from 49.7 in June and significantly off the 50-point mark separating growth and contraction.A Bloomberg analysts' poll had forecast the index would be the same as in June."The manufacturing sector's business climate sank lower compared to the previous month," NBS statistician Zhao Qinghe decline was "driven by factors such as the industry's traditional slack period as well as high temperatures, heavy rains and floods in some areas", Zhao has struggled to maintain a strong economic recovery since the pandemic, as it fights a debt crisis in the crucial property sector, chronically low consumption and elevated youth unemployment.A spate of natural disasters has also hit the country this summer, with at least 48 people killed and tens of thousands evacuated this week as northern China endured some of its worst floods in years."While the statistics bureau partly attributed the decline to weather-related disruptions to production, the breakdown suggests that demand has softened too," Zichun Huang, China economist at Capital Economics, said."The new export orders index dropped back as high tariffs began to weigh again," Huang added."More of the current weakness in demand appears to be domestic in nature," she bruising trade war with the United States -- now on hold pending a deal -- has hit the export-dependent and Washington called a 90-day truce on the staggeringly high duties in May, and held two days of talks this week aimed at avoiding their reimposition on August signs that both sides want to extend that deadline, the negotiations ended without an agreement.
