Last Updated:
Tata Technologies shares fell 6% following reports that TPG Rise Climate SF Pte. Ltd. sold a 3.95% stake in a bulk deal
Tata Technologies shares
Tata Technologies shares dropped 6% to an intraday low of Rs 663.45 on the BSE on Tuesday following reports that public shareholder TPG Rise Climate SF Pte. Ltd. offloaded a 3.95% stake via a bulk deal.
According to reports, TPG Rise Climate, an affiliate of U.S.-based private equity giant TPG Inc., sold approximately 1.6 crore shares valued at around Rs 1,094 crore. The shares were reportedly sold at Rs 683 apiece, marking a discount of up to 3.25% compared to the prevailing market price.
There will be a lock-in period of 60 days for the seller. BofA Securities is acting as the sole banker for the deal.
Tata Technologies reported its March quarter results on April 25, posting a 20% rise in profit compared to the same period last year. The company’s net profit for the quarter stood at Rs 189 crore. Revenue came in at Rs 1,286 crore, which is slightly lower than the Rs 1,301 crore reported in the corresponding quarter a year ago. Tata Technologies’ EBITDA stood at ₹233.5 crore, while its margin for the quarter narrowed to 18.2%, compared to 18.5% last year.
Additionally, the company has recommended a final dividend of ₹8.35 per equity share, along with a one-time special dividend of Rs 3.35, bringing the total dividend payout to Rs 11.70 per share for the financial year ended March 31, 2025.
Tata Technologies Managing Director and CEO Warren Harris told CNBC TV18 that the macroeconomic environment remains uncertain. However, he expressed hope that the tariff situation would gain more clarity in the coming month. Harris noted that the company’s performance in FY26 will largely depend on broader macroeconomic conditions and the degree of clarity achieved. “At the start of the year, we were planning for double-digit growth in FY26, but we are cognizant of the macro headwinds. Our priority is to protect margins,” he said.
Out of the 15 analysts covering Tata Technologies, 11 have issued a ‘Sell’ recommendation, while four have a ‘Buy’ rating. Despite the cautious outlook, shares of Tata Technologies Ltd. ended 1.54% higher on Monday at Rs 703.85. However, the stock remains down 21% so far this year.
