 "Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters")
Shares of Tata Group companies were trading mixed with Tata Motors and Tata Metaliks falling more than 1% each, while Tata Coffee and Tata Chemicals trading 1% higher on BSE in early morning trade.
Tata Consultancy Services (TCS), Tata Steel, Titan Company, Tata Global Beverages, Trent and Indian Hotels have outperform the market by falling less than the S&P BSE Sensex, which down 0.82% at 10.28 am.
On Tuesday, most of the Tata Group stocks were closed down in the range of 1%-5% after Tata Sons’ announced at their board meeting held on October 24, 2016, Cyrus P. Mistry has been replaced as the chairman of Tata Sons with immediate effect. The announcement came after the end of Monday’s trading session.
Ratan N Tata shall be the interim Chairman of Tata Sons until the new chairman is appointed, Tata Group companies said in a regulatory filing.
According to Business Standard reports, U R Bhat, managing director of Dalton Capital Advisors, said “Ratan Tata taking charge may be seen as a positive as he has been regarded as a market favourite. Also, he will take charge only for four months. I don’t think he will make dramatic changes during this tenure.”
However, other experts said if his tenure exceeds four months, and if there is no clarity on the reasons for a sudden change of power within the Tata group, investors might have to brace for some major reversal of trends in Tata group stocks, added report. CLICK HERE TO READ FULL REPORT.
Tata Consultancy Services (TCS), Tata Steel, Titan Company, Tata Global Beverages, Trent and Indian Hotels have outperform the market by falling less than the S&P BSE Sensex, which down 0.82% at 10.28 am.
On Tuesday, most of the Tata Group stocks were closed down in the range of 1%-5% after Tata Sons’ announced at their board meeting held on October 24, 2016, Cyrus P. Mistry has been replaced as the chairman of Tata Sons with immediate effect. The announcement came after the end of Monday’s trading session.
Ratan N Tata shall be the interim Chairman of Tata Sons until the new chairman is appointed, Tata Group companies said in a regulatory filing.
According to Business Standard reports, U R Bhat, managing director of Dalton Capital Advisors, said “Ratan Tata taking charge may be seen as a positive as he has been regarded as a market favourite. Also, he will take charge only for four months. I don’t think he will make dramatic changes during this tenure.”
However, other experts said if his tenure exceeds four months, and if there is no clarity on the reasons for a sudden change of power within the Tata group, investors might have to brace for some major reversal of trends in Tata group stocks, added report. CLICK HERE TO READ FULL REPORT.
| Company | 24/10/2016 | 25/10/2016 | % | 26/10/2016* | % chg |
| Tata Motors-DVR | 363.30 | 362.80 | -0.14 | 353.95 | -2.44 |
| Tata Tele. Mah. | 7.50 | 7.71 | 2.80 | 7.55 | -2.08 |
| Tata Motors | 559.10 | 553.10 | -1.07 | 542.35 | -1.94 |
| Voltas | 393.45 | 397.75 | 1.09 | 391.75 | -1.51 |
| Tata Metaliks | 422.30 | 401.30 | -4.97 | 396.65 | -1.16 |
| Rallis India | 236.15 | 232.40 | -1.59 | 230.00 | -1.03 |
| Tata Power Co. | 83.60 | 82.35 | -1.50 | 81.75 | -0.73 |
| Trent | 203.40 | 204.15 | 0.37 | 203.00 | -0.56 |
| Tata Comm | 669.05 | 653.95 | -2.26 | 650.40 | -0.54 |
| Tinplate Co. | 89.65 | 87.15 | -2.79 | 86.70 | -0.52 |
| Titan Company | 377.20 | 372.70 | -1.19 | 370.85 | -0.50 |
| Tata Steel | 426.20 | 415.50 | -2.51 | 413.50 | -0.48 |
| Tata Elxsi | 1333.05 | 1314.35 | -1.40 | 1309.50 | -0.37 |
| TCS | 2427.85 | 2398.65 | -1.20 | 2390.90 | -0.32 |
| Tata Global | 153.85 | 150.05 | -2.47 | 149.75 | -0.20 |
| Indian Hotels | 129.75 | 125.65 | -3.16 | 125.60 | -0.04 |
| Tata Coffee | 134.75 | 131.20 | -2.63 | 132.05 | 0.65 |
| Tata Chem | 577.55 | 565.50 | -2.09 | 569.75 | 0.75 |
| Tata Sponge | 637.50 | 618.15 | -3.04 | 627.25 | 1.47 |
| Tata Inv.Corpn. | 621.05 | 611.60 | -1.52 | 621.30 | 1.59 |
| Sensex | 28179.08 | 28091.41 | -0.31 | 27862.00 | -0.82 |
| *LTP : Last traded price on BSE in Rs at 10:28 am | |||||
