Now Reading: Tata Group stocks lose Rs 46,000 crore after chairman steps down
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Tata Group stocks lose Rs 46,000 crore after chairman steps down
Tata Group stocks lose Rs 46,000 crore after chairman steps down
Tata Group stocks plunged up to 5.95 per cent on Wednesday, wiping out about Rs 46,000 crore in market value, after Tata Sons chairman N Chandrasekaran said he will not seek reappointment…
The Story in Brief
Tata Group stocks plunged up to 5.95 per cent on Wednesday, wiping out about Rs 46,000 crore in market value, after Tata Sons chairman N Chandrasekaran said he will not seek reappointment when his current term ends in February 2027. Tata Consultancy Services fell as much as 5.95 per cent to hit an intraday low of Rs 2,300.10 on the NSE, while Tata Motors, Tata Steel, Tata Power and other group stocks also closed lower. Broader markets declined for a second day, with the Sensex falling 188 points to 77,966.35 and the Nifty dropping 36 points to 24,435.95, as elevated crude oil prices, Brent crude trading near $89 a barrel, added to investor caution.
The Indian Opinion
Some commentators are framing the selloff as a panic over succession at the Tata group. That exaggerates the risk. Chandrasekaran is staying until February 2027, giving the board nearly two years to choose a successor. The immediate trigger for Wednesday’s drop was as much about Brent crude retesting $90 as it was about the chairman announcement. The real test will come this week: watch the US and Indian inflation readings. If crude retreats, the market may recover quickly; if it stays elevated, the pressure on energy-importing sectors will intensify regardless of who leads Tata Sons.
Sources (6): thehindubusinessline.com, ndtv.com, ndtv.com (2), rediff.com, thehindu.com, timesnownews.com
This story was synthesised by AI from the 6 sources linked above.
Updated: this story now draws on 6 sources.
