Shares of several Tata group companies came under pressure in Wednesday's trade after N Chandrasekaran resigned as Tata Sons chairman, with the market assessing what the leadership change could mean for the conglomerate's next phase.
The selling was visible across several prominent Tata stocks, including TCS, Tata Motors PV, Tata Communications, Titan and Tata Steel, based on stock market data.
TCS was trading at Rs 2,353.10, down Rs 87.10 or 3.57 per cent, at around 11:43 AM, making it one of the sharpest decliners among the group's major listed companies.
TCS, Tata Motors PV Among Major Decliners
At around 11:45 AM, Tata Motors PV was trading at Rs 338.95, down Rs 10.05 or 2.88 per cent.
Tata Communications was at Rs 1,716.05, lower by Rs 30.80 or 1.76 per cent, while Tata Steel was trading at Rs 185.10, down Rs 3.30 or 1.75 per cent.
Titan was also under pressure. At around 11:46 AM, the stock was trading at Rs 5,035, down Rs 80 or 1.56 per cent.
Tata Power was trading at Rs 375.15, down Rs 4.85 or 1.28 per cent, at around 11:44 AM.
Tata Group Stocks: Latest Market Prices
| Stock | Price | Change |
|---|---|---|
| TCS | Rs 2,353.10 | -3.57% |
| Tata Power | Rs 375.15 | -1.28% |
| Tata Communications | Rs 1,716.05 | -1.76% |
| Tata Motors PV | Rs 338.95 | -2.88% |
| Titan | Rs 5,035.00 | -1.56% |
| Tata Steel | Rs 185.10 | -1.75% |
Leadership Change Puts Tata Group Strategy In Focus
The market reaction comes as investors assess the implications of the change at Tata Sons, the holding company at the centre of the Tata group.
Tata Sons oversees around 30 companies, including listed businesses such as TCS and Tata Motors, as well as unlisted entities including Air India.
Chandrasekaran's resignation comes ahead of the August 18 Tata Sons annual general meeting, where shareholders were scheduled to vote on his reappointment as a director.
His current term as chairman runs until February 2027, which he plans to complete.
The uncertainty surrounding his reappointment dates back to February, when Tata Sons deferred a decision on his continuation following opposition from Noel Tata, chairman of Tata Trusts, according to media reports.
Differences between Tata Sons and Tata Trusts have also emerged over board representation, strategy and the proposed exit of minority shareholder Shapoorji Pallonji.
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