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Hello, everyone! Today, the stock that has been in the limelight is Tata. Specifically, Tata Chemicals experienced heavy buying after many days, and we’ll be discussing the reasons behind this surge.Additionally, Tata Elxsi saw an approximately 18% rally, which we’ll also talk about. Other stocks we’ll cover include Tata Power and Tata Investment, which has already hit a 20% circuit.
Why Tata Technology Stock Was Underrated?
Now, let’s talk about Tata Technology stock. This stock has been very underrated and underestimated. The main reason behind this is that its Q3 and Q4 results have not been good multiple times. In comparison, the results of its competitor companies, like KPIT, have been better. Due to this, Tata Technology’s stock performance has been poor, and the competition was tough.
The stock’s target was downgraded, with a prediction set at 900, but it didn’t even reach 900, hovering around 970 instead. This stock, which hit a 52-week low, is involved in technology, particularly in software updates.
The Impact of Bulk Buying on Tata Stocks
The reason behind today’s heavy buying is quite simple. Around 1.3 crore shares, making up 3.3% of Tata Technologies’ stake, changed hands at a floor price of Rs 1,027 per piece. This shows significant buying activity. Even though retailers may not move the stock easily, even if they invest 10 to 12 crores in one go, the bulk buying of Tata shares, especially with big investors coming into the picture, has had a significant impact.
If you look at today’s chart pattern, it also supports this movement. We can see a strong candle breakout with volume, indicating that the trend will sustain, and it looks like the stock could reach a 52-week high. FIIs and DIIs have shown a slight increment in their stake, which is considered a very good signal. If you have Tata Chemicals shares, please let us know, and if you got the IPO, it is definitely a good thing. Please share your thoughts in the comments.
Regarding Tata Elxsi, the stock has surged with almost 18% gain, and in the last five days, it has shown approximately 30% growth. The rally has occurred over the last two or three working days, making it an excellent company. Many people invest heavily in stocks like TCS, Titan, and Tata Elxsi without thinking too much. Today, Tata Investment also hit a 20% circuit.
There are many other important Tata stocks, and buying on dips can present a very good opportunity. These kinds of stocks usually correct by 10 to 20%, after which heavy buying is often observed. As you can see, Tata Elxsi has almost hit an 18% circuit due to heavy volume trading.
You can check the volume on the NSE website. On August 23, the volume was 197,126, and by August 26, it had increased to 1,291,665. This clearly indicates significant buying activity in Tata Elxsi stock, with volume growing almost 5 to 6 times. When bulk buying occurs, these stocks can skyrocket. If you own Tata Elxsi stock, please share your thoughts in the comment box.
Tata Power: A Strong Player in the Renewable Sector
Now, let’s talk about Tata Power stock. Today, it has also been in the green. The resistance level is at 430, and once that resistance breaks, the stock could skyrocket.
This is a strong signal for heavy buying in the future. The target predicted for this stock is 500, so there is no need for panic selling. The market capitalization for this stock is 1.36 lakh crore.
As for the latest news, Tata Power has partnered with ICICI Bank regarding solar units, and they will finance these solar units. Tata Power is very aggressive and strong in the renewable sector, and they have made multiple announcements for CAPEX.
They are looking to do partnerships with banks, and before this, they had a partnership with Bank of Maharashtra. Talks are ongoing regarding financing solar units, including rooftop solar installations.
