Heard on the Street

Tata Motors soars on better earnings hopes

Shares of Tata Motors on Thursday rose 4% to Rs 1,233.10, a new high on hope the company’s July-September quarter results would beat market expectations.

Incidentally, the stock was at a 52-week low of Rs 545 on the same day last year. Brokers anticipate net profit at around Rs 2,200 crore on a consolidated basis as against a loss reported in the corresponding quarter last year. The company is scheduled to announce results on Tuesday. Grapevine has it that the Rare(i)ng Bull and the “Old Fox” are still accumulating the stock, though some believe this is unlikely because valuations are no longer cheap.

‘ Big Daddy’ trims stake in TIL & Tecpro Systems

THE ‘Big Daddy’ of insurance has been on a selling mode, of late. According to brokers, the insurer has been trimming its stake in some of the mid-cap stocks, including TIL and Tecpro Systems. As on September 30, it held 11.05% in TIL.


BSE data did not show the individual shareholding pattern in Tecpro. The insurer has also sold shares of Larsen & Toubro and Bharat Forge in recent sessions.

(Contributed by Harish Rao & Nishanth Vasudevan)