Tata Group stocks continued their upward momentum for the third consecutive session, led by Tata Coffee, which gained 3.57%. Other key stocks, including Tata Investment, NELCO, Voltas, Tata Elxsi, Tata Steel, and Tata Chemicals, also witnessed gains between 1% and 3.20%. The surge comes amid reports of Tata Capital’s potential $11 billion IPO, expected to be India's largest this year. While no official announcement has been made, investor optimism has driven buying interest in Tata Group stocks.
Analysts suggest that the rally is also fueled by value buying after recent corrections in Tata stocks. Some experts caution that short-covering and market sentiment may be contributing to the gains rather than just IPO speculation. Despite the uptrend, Tata Motors and other group stocks remain significantly below their 52-week highs, keeping investors watchful of further developments.
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