Tata group companies trade mixed post NCLAT order on Cyrus Mistry ouster

Shares of Tata group companies traded mixed on Thursday following an appeals court holding illegal the appointment of N Chandrasekaran as chairman Tata Sons. The National Company Law Appellate Tribunal (NCLAT) on Wednesday also ordered that Cyrus Mistry be restored as executive chairman of Tata Sons in lieu of Chandrasekaran although the implementation of this has been suspended for four weeks.

The company has the option to challenge the ruling in the Supreme Court.

While shares of Tata Motors and Tata Consultancy Services rose 1% each today, Tata Metaliks was up 0.7%, Nelco Ltd advanced 0.4%, Voltas, Tata Chemicals and Tata Investment Corp were 0.08-0.2% higher. On the other hand, Tata Steel Ltd fell 0.9%, Rallies India 0.6%, Titan Co Ltd was down 0.5%, Tata Power Co 0.5%, Tata Global Beverages ltd 0.3%, Trent Ltd 0.2%, Tata Elxsi 0.3%, Tata Coffee Ltd 0.3%.