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Tata Group shares trade mixed; Tata Motors dips 1%, Tata Coffee up 1%

 

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters

 

  Shares of Tata Group companies were trading mixed with Tata Motors and Tata Metaliks falling more than 1% each, while Tata Coffee and Tata Chemicals trading 1% higher on BSE in early morning trade.

Tata Consultancy Services (TCS), Tata Steel, Titan Company, Tata Global Beverages, Trent and Indian Hotels have outperform the market by falling less than the S&P BSE Sensex, which down 0.82% at 10.28 am.

On Tuesday, most of the Tata Group stocks were closed down in the range of 1%-5% after Tata Sons’ announced at their board meeting held on October 24, 2016, Cyrus P. Mistry has been replaced as the chairman of Tata Sons with immediate effect. The announcement came after the end of Monday’s trading session.

Ratan N Tata shall be the interim Chairman of Tata Sons until the new chairman is appointed, Tata Group companies said in a regulatory filing.

According to Business Standard reports, U R Bhat, managing director of Dalton Capital Advisors, said “Ratan Tata taking charge may be seen as a positive as he has been regarded as a market favourite. Also, he will take charge only for four months. I don’t think he will make dramatic changes during this tenure.”

However, other experts said if his tenure exceeds four months, and if there is no clarity on the reasons for a sudden change of power within the Tata group, investors might have to brace for some major reversal of trends in Tata group stocks, added report. CLICK HERE TO READ FULL REPORT.

 
Company 24/10/2016 25/10/2016 % 26/10/2016* % chg Tata Motors-DVR 363.30 362.80 -0.14 353.95 -2.44 Tata Tele. Mah. 7.50 7.71 2.80 7.55 -2.08 Tata Motors 559.10 553.10 -1.07 542.35 -1.94 Voltas 393.45 397.75 1.09 391.75 -1.51 Tata Metaliks 422.30 401.30 -4.97 396.65 -1.16 Rallis India 236.15 232.40 -1.59 230.00 -1.03 Tata Power Co. 83.60 82.35 -1.50 81.75 -0.73 Trent 203.40 204.15 0.37 203.00 -0.56 Tata Comm 669.05 653.95 -2.26 650.40 -0.54 Tinplate Co. 89.65 87.15 -2.79 86.70 -0.52 Titan Company 377.20 372.70 -1.19 370.85 -0.50 Tata Steel 426.20 415.50 -2.51 413.50 -0.48 Tata Elxsi 1333.05 1314.35 -1.40 1309.50 -0.37 TCS 2427.85 2398.65 -1.20 2390.90 -0.32 Tata Global 153.85 150.05 -2.47 149.75 -0.20 Indian Hotels 129.75 125.65 -3.16 125.60 -0.04 Tata Coffee 134.75 131.20 -2.63 132.05 0.65 Tata Chem 577.55 565.50 -2.09 569.75 0.75 Tata Sponge  637.50 618.15 -3.04 627.25 1.47 Tata Inv.Corpn. 621.05 611.60 -1.52 621.30 1.59             Sensex 28179.08 28091.41 -0.31 27862.00 -0.82             *LTP : Last traded price on BSE in Rs at 10:28 am