The company made this announcement during trading hours today, 16 May 2008.

Meanwhile, the BSE Sensex was up 107.60 points, or 0.62%, to 17,460.60, on positive cues from global markets. US stocks rose in light trading on Thursday, 15 May 2008, pushing the S&P 500 to its highest close since January 2008, as a pullback in oil prices eased concerns about inflation and a battle to control Yahoo Inc helped the tech sector.

On BSE, 52,082 shares were traded in the counter. The scrip had an average daily volume of 84,026 shares in the past one quarter.

The stock hit a high of Rs 595 and a low of Rs 552 so far during the day. The stock had a 52-week high of Rs 804.50 on 4 January 2008 and the stock hit a 52-week low of Rs 389 on 17 May 2007.

The small-cap scrip had outperformed the market over the past one month till 15 May 2008, gaining 10.45% compared to the Sensex’s return of 6.83%. It had underperformed the market in the past one quarter, declining 7.45% compared to Sensex’s decline of 4.20%.

The company’s current equity is Rs 34.46 crore. Face value per share is Rs 10.

The current price of Rs 575.20 discounts its Q3 December 2007 annualised EPS of Rs 51.90, by a PE multiple of 11.08.

One zero coupon convertible bond, with warrant, of face value Rs 650 each will be issued for every five equity shares held, the company said.

Tata Investment Corporation’s net profit declined 7% to Rs 44.71 crore on 7.1% fall in net sales to Rs 52.32 crore in Q3 December 2007 over Q3 December 2006.

The company's principal business is investment in shares, debentures, securities, etc, in India and abroad; underwriting new businesses, and taking over the management and control of companies.