Tata group stocks decline on Cyrus Mistry’s exit

Tata Power Company Ltd. | Power Generation/Distribution | Power | BSE: 500400 | NSE: TATAPOWER

25 Oct 2016 Evaluate

Shares of Tata group companies were reeling under pressure, as Tata Sons, the holding company of the Tata Group, said its board of directors had removed Cyrus Pallonji Mistry, as chairman of the conglomerate.

Tata Power Company is currently trading at Rs. 82.10, down by 1.50 points or 1.79% from its previous closing of Rs. 83.60 on the BSE. The scrip opened at Rs. 82.00 and has touched a high and low of Rs. 83.25 and Rs. 81.00 respectively. So far 176026 shares were traded on the counter.

Tata Steel is currently trading at Rs. 414.45, down by 11.75 points or 2.76% from its previous closing of Rs. 426.20 on the BSE. The scrip opened at Rs. 411.00 and has touched a high and low of Rs. 419.00 and Rs. 409.15 respectively. So far 532381 shares were traded on the counter.

Tata Consultancy Services (TCS) is currently trading at Rs. 2401.50, down by 26.35 points or 1.09% from its previous closing of Rs. 2427.85 on the BSE. The scrip opened at Rs. 2398.00 and has touched a high and low of Rs. 2414.40 and Rs. 2388.90 respectively. So far 11937 shares were traded on the counter.

Tata Motors is currently trading at Rs. 554.00, down by 5.10 points or 0.91% from its previous closing of Rs. 559.10 on the BSE. The scrip opened at Rs. 547.70 and has touched a high and low of Rs. 560.85 and Rs. 547.70 respectively. So far 213237 shares were traded on the counter.

Tata Sons had announced that its Board has replaced Cyrus P Mistry as Chairman of Tata Sons. The decision was taken at a Board meeting held on October 24, 2016. While the company did not disclose the reasons for the sudden move, those in the know of the development said that a combination of factors, including poor performance, lack of vision to take tough decisions and the mishandling of dispute with NTT DoCoMo may have prompted the board to look for a new leader.

Of the eight members on the board, six are understood to have voted in favour of the move, while two abstained. The board has named Ratan N Tata as Interim Chairman of Tata Sons. The board has constituted a Selection Committee to choose a new Chairman. The Committee comprises Ratan Tata, Venu Srinivasan, Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya. The committee has been mandated to complete the selection process in four months.

Tata Power Share Price

436.00 -3.20 (-0.73%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
NTPC	402.20
Tata Power	436.00
Adani Power	225.15
Power Grid Corp	313.90
Torrent Power	1724.80
View more..

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