TCS, other Tata stocks fall as Chandrasekaran quits
The Tata Group's shares dropped up to 4% on Monday, with TCS, the largest company in the group, leading the decline. Tata Sons chairman N Chandrasekaran announced his resignation ahead of the group's annual general body meeting on August 18. TCS shares fell over 4% to Rs 2,322, while Tata Motors Passenger Vehicles and Tata Consumer Products fell around 4% each.
Chandrasekaran, 63, had led the company's transformation into various sectors, including airlines, semiconductors, electronics, and digital businesses. He will remain until his term as chairman ends in February 2027. Chandrasekaran's resignation comes amid uncertainty over the August 18 board meeting and the Tata Trusts' potential vote, which is seen as opposed to his continuation by Tata Trusts Chairman Noel Tata.
Investors worry that a deadlock in the group's decision-making process could negatively impact operating businesses. Chandrasekaran's tenure saw significant growth in the group's revenue and profit, with the market capitalization of Tata's listed companies increasing from Rs9.31 lakh crore in FY20 to Rs24.39 lakh crore in FY26.
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