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Tata Group Stocks Trade Mixed After NCLT Rules In Favour Of Tata Sons
In Monday's trading session, the stocks of Tata group companies are seen trading with mixed sentiments after the Mumbai bench of the National Company Law Tribunal (NCLT) rules in favour of Tata Sons and dismisses the plea of Cyrus Mystry.
In an earlier instance, after the erstwhile chairman of Tata Sons, Cyrus Mistry has been ousted, he alleged that Ratan Tata had acted as a shadow director and his conduct was prejudicial to the company. The verdict has come in as a serious disappointment to Mistry who owns over 18% stake in Tata Sons, the holding company of Tata Group.
Meanwhile other legacy issues raised against Ratan Tata were found to have no merit.
Shares in Tata Steel were up 2% on the back of good quarterly sales in India. Other stocks such as Tata Motors was up 1.88%, Tata Power also surged by 1.6% during the intra-day session while the TCS declined in trade today on the back of rupee gaining ground and ahead of its results due tomorrow.
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