Tata Sons Chairman Resignation Live Updates: Tata Group-backed companies’ stocks witnessed heavy selling pressure on Wednesday, plunging up to 5.95 per cent and losing about Rs 46,000 crore in market value after N Chandrasekaran said he would not offer himself for reappointment as chairman of Tata Sons when his current term expires in February 2027.
Shares of several Tata Group-backed companies witnessed selling pressure as the chairman’s decision raised uncertainty over succession at India’s largest conglomerate.
Tata Consultancy Services shares declined as much as 5.95 per cent to hit an intraday low of Rs 2,300.10 on the NSE, while Tata Motors Passenger Vehicles shares fell about 4 per cent
Similarly, Tata Steel shares also fell by more than 2 per cent to Rs 183.60.
Moreover, the sell-off by investors also weighed on other group companies.
Shares of Tata Elxsi, Tata Communications, Tata Technologies, Tata Power and Trent also traded up to 2 per cent per cent.
