In 20 Years This Tata Group Stock Soars From Rs 8 To Rs 800
In 20 Years This Tata Group Stock Soars From Rs 8 To Rs 800: Voltas Ltd stock ended the day higher for the second day in a row on Wednesday. After peaking at 840.90 per share, the stock ended the day on the BSE at Rs 836.95, up 1.75%.
After seeing a drop in share prices on Friday, Voltas enjoyed a 1.85% price increase on Tuesday, with an average daily volatility of 3.161 units.
On August 22, the stock closed higher despite the fact that the Sensex and Nifty equity benchmark indexes ended nearly flat due to profit-taking by investors who were worried about future rate hikes in the US and ongoing outflows of foreign funds.
IDBI Capital, a domestic brokerage business, has forecasted a 30% profit booking for investors. The Tata Group stock has increased dramatically over the past 20 years, from Rs 8 per share to its present high of Rs 840.
The shares were only worth Rs 7.92 on July 25, 2003, but they are currently trading at around Rs 840, meaning that over the past 20 years, a Rs 1 lakh investment would have grown to be more than Rs 1 crore.
Shares have moved dramatically over the past year, from a good position to the lowest. It was at the level of Rs 1,050.55 on August 19, 2022, according to a MoneyControl report. But within five months, the price dropped by thirty percent, and on January 27 of this year, it was only Rs 737.60.
According to IDBI Capital, the share price has spent the previous 28 weeks at 740 on the weekly charts. In addition, the relative strength index (RSI) has been trending upward, supporting the price increase.
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The firm suggested buying the stock, putting a Rs 1,050 target price on it. Additionally, it suggested that investors should stop losing at Rs 760.