Thursday, January 20, 2022

ਵਾਹਿਗੁਰੂ

spot_img








Tata Group scrips fall after NCLAT order restoring Cyrus Mistry

- Advertisement -

Mumbai, Dec 18, 2019-

Tata Group stocks, except TCS, ended in the red after the National Company Law Appellate Tribunal (NCLAT) on Wednesday restored Cyrus Mistry as the Executive Chairman of Tata Group and ruled the appointment of N. Chandrasekaran in the post illegal.

However, stocks of Sterling and Wilson Solar from the Shapoorji Pallonji Group rose after the tribunal’s order.

Sterling and Wilson Solar scrips closed over 4 per cent higher at Rs 325 per share.

But shares of several Tata Group companies fell as the news was taken negatively.

While Tata Motors fell over 3 per cent to Rs 174.70 a share on the BSE, Tata Power closed at Rs 55.50 a share, down by 1 per cent.


ALSO READ: Cyrus Mistry back as Tata Sons chief, Ratan Tata asked to stay away


Tata Chemicals fell nearly 2 per cent to Rs 643.30 apiece while Tata Global Beverages Ltd declined over 4 per cent to Rs 311.80 a share.

However, TCS managed to end in the green despite facing selling pressure after the NCLAT order. TCS closed 0.07 per cent higher at Rs 2,167.25 a share.

Mistry was appointed as the sixth chairman of Tata Group in 2012 but ousted following a boardroom coup on October 24, 2016. He subsequently moved the NCLT’s Mumbai bench.

On February 20, 2017, N. Chandrasekaran, who was heading TCS, took charge as Chairman of Tata Sons.

The Mistry family is the single largest shareholder in Tata Sons, with an 18.4 per cent stake.  (Agency)

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected

20,323FansLike
113,521FollowersFollow

ENTERTAINMENT

National

GLOBAL

OPINION

5 ways to manage childhood allergies – By Dr Nidhi Gupta

Motherhood comes with its own mixed bag of emotions; we want to save our child from every little peril that comes their way, including...

Putin’s political chess – By Asad Mirza

Russia has demanded for a new security arrangement in Europe, and threatened war if the US and its NATO allies fail to comply. Western...

Principles that define success – by DC Pathak

Many among the most successful businessmen of our times have written about their experience of what they passed through in reaching to the top...

SPORTS

Health & Fitness

5 ways to manage childhood allergies – By Dr Nidhi Gupta

Motherhood comes with its own mixed bag of emotions; we want to save our child from every little peril that comes their way, including allergies. The most common allergen in India are milk, egg and peanuts. According to the IAP survey, 11.4 per cent children under the age of 14 years suffer from some form of allergies and they usually...

Gadgets & Tech