Shares of Tata Group companies saw a significant rise on Thursday, with some stocks climbing as much as 10%. Leading the gainers were Tata Chemicals and Tata Teleservices, following the passing of Tata Sons Chairman Emeritus Ratan Tata late Wednesday evening. Tata, who was 86, is remembered for his pivotal role in transforming the Tata Group into a global conglomerate, influencing not only India’s corporate sector but also its economic landscape.
In early trade, Tata Investment Corporation surged 10.47% to ₹7,235.80, Tata Chemicals jumped 6.26% to ₹1,174.85, and Tata Teleservices Maharashtra rose 5.84% to ₹83.77. Other companies under the Tata umbrella, including Tata Elxsi, Tata Power, and Rallis India, also saw substantial gains. However, a few stocks such as Trent, Titan, and Tata Motors experienced marginal declines.
Tributes Through Stock Purchases
Industry experts highlighted that investors could honor Ratan Tata’s legacy by investing in Tata Group companies. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, remarked that purchasing stocks like Tata Motors, Tata Steel, and TCS is a way for investors to show their appreciation for Tata’s unparalleled contributions to India’s growth.
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Tata Consultancy Services (TCS), which had scheduled a press conference for Thursday evening to announce its second-quarter results, canceled the event in light of Ratan Tata’s demise. However, the company confirmed that a scheduled call with analysts at 7 pm would proceed as planned.
The final rites for Ratan Tata were set to take place after 4 pm on Thursday at Mumbai’s Worli, marking the end of an era for India’s business world.