This multibagger Tata Group stock corrects 25% from its all-time high

This multibagger Tata Group stock corrects 25% from its all-time high; should you buy? Shares of Tata Technologies, the latest debutant from the Tata Group, has tumbled as much as 25 per cent from its all-time high at Rs 1,400 hit in November 2023. The tech-enabled solutions provider dropped as much as 5 per cent trading during the session on Monday after the company reported a muted set of numbers in the March 2024 quarter. Tata Technologies reported a 27.39 per cent year-on-year (YoY) fall in the consolidated net profit at Rs 157.24 crore for the quarter that ended on March 31, 2024 (Q4FY24). The company had reported a net profit of Rs 216.56 crore during the same period last year (Q4FY23).The Tata Group firm's revenue from operations fell 7.22 per cent YOY to Rs 1,301.05 crore in Q4, compared to Rs 1,402.39 crore reported in the year period. Ebit margin for the quarter came in at 16.2 per cent, the same as the December quarter but higher than 15.5 per cent in the same quarter last year. [Read more](3D/0/2) If you would prefer not receiving our emails, please [Click Here](3D)