IT stock jumps 4% after securing multi-million-dollar digital banking deal in Africa
Stocktwits - Tata Technologies shares are in focus on Thursday after Volvo Cars announced them as their strategic supplier of key components and solutions.
Tata Technologies stated that its new partnership will focus on product and vehicle system engineering, embedded software, and product lifecycle management. Services will be delivered from Tata Technologies’ centers in India, Sweden, Romania, and Poland.
At the time of writing, Tata Tech shares were down 0.7%.
On the technical charts, SEBI-registered analyst Prabhat Mittal highlighted that after its listing on November 30, 2023, the stock had regularly made lower highs and lower lows. The stock hit an all-time low of ₹597 on April 5, 2025.
Since then, the stock has shown strength, crossing above its 20, 50, and 100-day moving averages (DMA).
Mittal adds that on the short-term chart, the stock is forming a higher top and higher bottom within an upward sloping channel. The current price is trading near the bottom line of the channel.
He advises traders to consider buying the stock at ₹700, with a strict stop loss of ₹679 and upside targets of ₹820 and ₹840.
Tata Technologies shares have fallen 18% year-to-date (YTD).