Shares of Tata Investment Corporation Ltd. ended in a 5% lower circuit for the ninth out of the last 10 trading sessions. The stock has declined over 21% this week after a 22% drop last week.
On March 7, the stock had made a record high of ₹9,756. Since then, it has corrected 38% from those levels to close at ₹5,960 on Friday.
This 10-day drop has meant that the stock has lost nearly ₹20,000 crore in market capitalisation. The company's market cap has gone down from ₹49,365 crore on March 7 to ₹30,155 crore two weeks later.
The week in which Spark Capital wrote about Tata Sons' potential listing by September 2025, the stock had made consecutive upper circuits of 5%.
Besides Tata Investment, other Tata Group companies like Tata Chemicals, which is in the F&O ban, Tata Consumer Products and TCS have also declined 7.5% each this week.
First Published: Mar 22, 2024 3:33 PM IST