Tata technology is a new stock which was introduced through IPO few months before, after listing it's stock price was gradually declining. On listing day it was jumped around 100% above. On that listing day it was traded near 1400 level, since then it was falling, one time it's was dropped near 1020. Since few days it shows a good strength, now it is trading above 1100, which is a good sign but here question arises is this move sustain on market correction, that has to see.
On my thinking process because it is a new stock and it has no past data to analyse for future. Whatever is showing now due to market rally. As you know in the month of March 2024, almost all mid & small cap stocks were corrected more. But now since 5 days they are recovering. Today was a best day for small cap index.
Also today American market is looking positive. I have not seen today how American small cap index performing ? But whatever rally is showing the small cap index that is better for small cap stocks. Also mid cap stocks are performing well. Now large cap stocks are correcting more because FII's selling is going on. No doubt tata technology is a good share.
It is a battery making company, recently this company was demerged from Tata motors and listed as both in NSE and BSE as a new IPO. So, for investors if you are looking for 3 to 5 years investment then you can continue with this share. For short to medium term it may show volatility.
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