Why Are Shares Of This Tata Stock Rocketing Today?

Shares of Tata Investment sharply on Monday morning going up close to 8% to hit an intraday high of ₹7,244.

What Happened: While the reason for the massive surge is not visible immediately, the stock had been under pressure for the past few days.

The stock had closed in the red on seven occasions out of the previous 10 sessions. Since the start of the month, the stock had gone down around 8% until today’s surge.

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See Also: Why Tata Power’s Share Price Is Jumping 3% Today

The jump also coincides with several of its fellow Tata Group companies having a good time at the bourses today. Both Tata Steel and Tata Power shares have been upbeat today.

Last month, technical analysts had mixed views on the stock. While one technical analyst suggested the price jump could stretch to ₹10,0000, another saw resistance at the ₹8,500 level and advised investors to buy during dips. 

Price Action: Tata Investment’s share price was up 5.98% to trade at ₹7,138 in early trade on Monday.

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