India's Tata group shares rise after reports of fresh term for Chair Chandrasekaran
- N. Chandrasekaran's five-year reappointment as Tata Sons chairman led to a surge in Tata group company shares
BENGALURU: Shares of major Tata group companies 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% and 5%, led by Tata Investment Corp. Tata Motors Passenger Vehicles rose 5%, while Tata Motors climbed 3%.
IT major TCS, which had risen as much as 3%, pared gains and was last up 0.2%.
“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.
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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.
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