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Deal▼ Bearish for Tata Sons
Tata stocks fall after Trusts propose restructuring to prevent Tata Sons listing
The brief
- Most Tata Group stocks fell in morning trade on Tuesday, 29 September
- Tata Trusts proposed a restructuring to prevent the holding company from listing
- The proposal weighed on Tata-linked stocks, including TCS, Titan and Tata Chemicals
- Volumes jump at Tata Teleservices (Maharashtra) Ltd counter
- Tata Teleservices (Maharashtra) Ltd leads gainers in 'A' group
- Tata Teleservices surges 7%, Physicswallah falls up to 4% at Nifty 500 market open
Tata Trusts' proposal on Tata Sons listing
Tata Trusts proposed merging Tata Electronics Systems Solutions and Tata Consulting Engineers into Tata Sons, a restructuring intended to avoid the RBI listing requirement. The plan requires RBI approval and could affect Tata Sons’ NBFC and CIC classification.
Tuesday, 29 September
- Tata stocks fall after Trusts propose restructuring to prevent Tata Sons listing