Tata stocks slip after Trusts propose move to prevent holding company listing
On September 29, Tata group stocks declined after Tata Trusts proposed a restructuring of the holding company to avoid a central bank mandate for listing. Tata Motors Passenger Vehicles fell 2.8 percent and Tata Investment dropped 2.4 percent by 9:43 a.m. IST in Mumbai. Tata Trusts suggested merging two group firms with Tata Sons, the holding company of the conglomerate with stakes in TCS, Tata Motors PV, Tata Steel, and Trent.
This proposal comes after a disagreement between the Trusts and Tata Sons, holding a 66 percent share. The central bank had previously rejected the holding company's attempt to end its non-bank finance company status, fueling speculation about an imminent listing.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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