Tata Group scrips lacklustre a day after after Mistry appointment
November 24th, 2011 - 2:34 pm ICT by IANSMumbai, Nov 24 (IANS) A day after the Tata Group chose Cyrus Mistry as the successor to Ratan Tata, the markets reacted tepidly to the news and the conglomerate’s scrips were trading lacklustre at the bourses.
The group announced late Wednesday evening that the younger son of construction tycoon Pallonji Shapoorji Mistry, whose family holds an 18.5 percent stake in Tata Sons, making him the single largest shareholder would take over as chairman from Ratan in December 2012.
While industry heavy-weights welcomed the news and termed Mistry an appropriate choice, the markets don’t seem much enthused with the news.
Here’s how some of the key companies of the group were trading around noon Thursday at the Bombay Stock Exchange:
* Tata Motors hit a low of Rs.165.60 and was ruling 1.04 percent down at Rs.166.75
* TCS hit a low of Rs.1,045 and was ruling 1.06 percent down at Rs.1,051.15
* Tata Communications hit a low of Rs.176.30 and was ruling 1.77 percent down at Rs.1,77.60
* Tata Coffee hit a low of Rs.771.20 and was ruling 0.1 percent up at Rs.774.80
* Tata Steel hit a low of Rs.367.20 and was ruling 1.9 percent down at Rs.375.25
* Tata Power hit a low of Rs.90.50 and was ruling 0.49 percent up at Rs.91.75
* Voltas hit a low of Rs.82.25 and was ruling 0.66 percent up at Rs.84.45
* Indian Hotels hit a low of Rs.57 and was ruling 0.09 percent down at Rs.57.75
* Rallis India hit a low of Rs.147.10 and was ruling flat at Rs.149.10
* Tata Global Beverages hit a low of Rs.80.15 but was ruling 1.98 percent higher at Rs.82.50
- Tata Power appoints Cyrus Mistry as additional director - Dec 26, 2011
- Sensex soars past 17,600 points; registers 5th weekly gain (Roundup) - Feb 03, 2012
- Sensex down 127 points, IT stocks hit (Lead) - May 08, 2012
- Ratan Tata, Mistry meet commerce minister - Dec 22, 2011
- Sensex rises 109 points higher, IT, telecom stocks gain - Aug 17, 2011
- Sensex slides 320 points to close below 17,000 (Roundup) - May 04, 2012
- Sensex rangebound; Tata Power, Reliance Infra up - Mar 04, 2011
- Sensex up 33 points, profit booking pares gains (Roundup) - Aug 30, 2010
- India's Sensex down after previous rallies (Second Lead) - Apr 20, 2012
- Choppy trading at Indian equities after outlook downgrade - Apr 26, 2012
- Sensex closes 297 points lower amid global uncertainties - Aug 26, 2011
- Sensex rises 100 points; TCS, Wipro surge - Apr 24, 2012
- A factsheet on the Tata Group - Nov 24, 2011
- Tata Sons denies management restructuring in group companies - Apr 27, 2012
- Sensex falls below 17,000 points (Lead) - May 04, 2012
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