Shares of major T rose on Thursday after media reports said that
Tata Sons has approved a fresh five-year term for N.
Chandrasekaran as executive chairman.
Major Tata group stocks rose between 0.15 per cent and 5 per cent, led by
Tata Investment Corp. Tata Motors Passenger Vehicles
rose 5 per cent, while Tata Motors climbed 3 per cent.
IT major TCS, which had risen as much as 3 per cent, pared
gains and was last up 0.2 per cent.
“The strength in Tata group stocks, particularly companies
in which Tata Sons has meaningful holdings, reflects investor
confidence that leadership continuity could support the next leg
of the value-unlocking story,” said Aishvarya Dadheech, founder
and chief investment officer at Fident Asset Management.
The Economic Times first reported on the board’s decision.
Reuters reported, citing a source, that Tata Sons
has approved a fresh five-year term for N. Chandrasekaran as
executive chairman, reversing his decision last month not to
seek reappointment.
Chandrasekaran, whose current term ends in February 2027,
said last month he would not seek another term.
Tata Sons did not immediately respond to a Reuters request
for comment.