Tata group firms may gain from court’s ruling

MUMBAI/NEW DELHI : An appeals court order reinstating Cyrus Mistry as Tata Sons Ltd chairman may have caused uncertainty about the management of the holding company of Tata group, but market experts say the net impact is likely to be positive for group companies.

Shares of Tata Consultancy Services Ltd, Tata Steel Ltd, Tata Motors Ltd and Tata Global Beverages Ltd—the key units of Tata Sons—gained on Thursday on BSE. TCS rose 2.83% to close at ₹2,229.05, Tata Steel gained 0.45% to close at ₹446.75, Tata Motors advanced 2.49% to ₹179.15, Tata Global gained 0.51% to ₹313.95 while Indian Hotels lost 2.20% to ₹142 per share.

The market sees the National Company Law Appellate Tribunal’s (NCLAT) order as positive for Tata firms as it amounts to saying that Tata Sons will be a deemed public company.