India’s Tata Technologies soars 140% in pre-open debut trade

BENGALURU (Reuters) – Shares of India’s Tata Technologies surged 140% in their trading debut on Thursday, valuing the company at 486.80 billion rupees ($5.84 billion).

The stock debuted at 1,200 rupees in pre-open trade, compared with its initial public offer (IPO) price of 500 rupees.

This is the first Tata Group company to go public since Tata Consultancy Services listed in 2004.

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The benchmark Nifty 50 index was up 0.1%.

($1 = 83.3040 Indian rupees)

(Reporting by Rama Venkat in Bengaluru; Editing by Mrigank Dhaniwala)

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