Ratan Tata death: Tata Group stocks trade mixed; TaMo down 2%, TCS up 1%

Ratan Tata News: Tata Chemicals, Indian Hotels Company, Tejas Networks, Voltas, Tata Elxsi and Tata Consultancy Services (TCS) were up in the range of 1 per cent to 4 per cent

Ratan Tata news, Ratan Tata death: Tata Group stocks were trading mixed with Tata Motors down nearly 2 per cent, while Tata Chemicals and Indian Hotels Company rose up to 4 per cent on the BSE in the intraday trade after the death of Tata Group Chairman Emeritus, Ratan Naval Tata, on Wednesday night.

Of the top 15 Tata group listed companies in terms of market capitalisation, 13 stocks were trading in the green, while the remaining two Tata Motors (down 1.6 per cent at Rs 924.35) and Trent (down 0.10 per cent at Rs 8,211.45) were quoting lower on the BSE at 09:20 AM.

 

Tata Chemicals, Indian Hotels Company, Tejas Networks, Voltas, Tata Elxsi and Tata Consultancy Services (TCS) were up in the range of 1 per cent to 4 per cent. In comparison, the BSE Sensex was up 0.27 per cent at 81,690.

Ratan Tata, chairman emeritus of Tata Sons, passed away, on Wednesday night, at the age of 86. 

'It is with a profound sense of loss that we bid farewell to Mr Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation," Tata Sons Chairman N Chandrasekaran said in a statement.

Under Ratan Tata's leadership, the Tata Group re-shaped itself from a largely India-focused entity into a global powerhouse, marked by significant advances in financial strength and technological prowess.

Ratan Tata was the son of Naval Tata, who was adopted by Ratanji Tata, son of the group’s founder, Jamsetji Tata. Tata Trusts, which hold a 66 per cent stake in Tata Sons (the group's holding company), continue to exert substantial influence over the conglomerate.

Meanwhile, TCS, the largest Indian information technology (IT) firm, is set to report its financial performance for the July-September quarter of fiscal year 2024-25 (Q2FY25) today, October 10. The Indian IT major is expected to register a single digit rise in its topline and bottomline compared to the September quarter of FY24.

The street will watch out for outlook in financial services vertical and any loss of share to in sourcing at large clients; state of spending in UK & Europe market and signs of improvement in demand; deals pipeline; state of discretionary spending and what would it take to revive the same; impact of GCC ramp up on growth of companies; and levers to defend and increase margins.