Tata Group stocks fall up to 5% after Tata Sons Chairman Chandrasekaran resigns
Tata Consultancy Services (TCS) led the losses, falling 5 per cent, while Tata Motors PV declined 4 per cent. Tata Steel fell 2 per cent.
On Wednesday, Tata Group stocks experienced a decline of up to 5%, following the resignation of Tata Sons Chairman N Chandrasekaran. The share market responded with a selloff across the conglomerate's listed companies. Tata Consultancy Services (TCS) spearheaded the decline, shedding 5% of its value, while Tata Motors PV dropped by 4%.
Tata Steel also suffered with a 2% decrease. By 11:52 am, TMPV shares were trading 2.5% lower at ₹338.90, reaching a low of ₹334.20. TCS witnessed a 4.85% plunge to ₹2,347.40, hitting a low of ₹2,322. Additionally, Titan Company, Tata Elxsi, Tata Technologies, Tata Consumer Products, Tata Investment Corporation, and Tejas Networks all traded in negative territory.
Trent and Tata Motors remained relatively stable. N Chandrasekaran, the former chairman of Tata Sons, has resigned but will complete his current term. His tenure as chairman lasted nine years and will conclude in February 2027. Chandrasekaran has opted not to seek reappointment for a third term, marking the end of his leadership at India's largest conglomerate.
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