Apr 30, 01:30 AM

Tata Technologies Shares Fall Over 6% After Q4 Results and TPG Sells 3.9% Stake; Trent Profit Drops, Morgan Stanley Maintains Overweight

Tata Technologies shares initially rose 3% following its Q4 results announcement, but subsequently declined over 6% after a block deal involving approximately 3.9% of the company's equity was executed. Private equity firm TPG Rise Climate sold around 15.9 million shares (1.59 crore shares) of Tata Technologies at an average price near ₹673 per share, generating proceeds of approximately ₹1,068 crore. The block deal shares changed hands at prices ranging from ₹670 to ₹698.55 per share, reflecting a discount of 1-5% on the closing market price. Tata Technologies had its initial public offering in 2023. Separately, Tata Group-owned Trent reported a 54.8% drop in profit for Q4 FY25 compared to the same period last year, causing its shares to fall nearly 4%. Despite the profit decline, Morgan Stanley maintained an overweight rating on Trent with a target price of ₹6,359 per share, citing a mixed Q4 performance with a profit after tax miss but margin beat and mid-single-digit like-for-like fashion growth. Kotak Bank revised its revenue estimates downward but raised its target price to ₹5,250, while Nuvama retained a buy rating with a target price of ₹6,224, highlighting margin improvements offsetting concerns about like-for-like growth. Additionally, Tata declared a dividend of ₹5 per share.