Mumbai, August 12, 2026 (Yes Punjab News)
Shares of several Tata Group companies came under heavy selling pressure on Wednesday, falling as much as 5.95 per cent and wiping out nearly Rs 46,000 crore in market value after N. Chandrasekaran announced that he would not seek reappointment as Tata Sons Chairman when his current term ends in February 2027.
The announcement triggered concerns over succession and leadership continuity at the conglomerate.
Tata Consultancy Services (TCS) shares fell as much as 5.95 per cent to an intraday low of Rs 2,300.10 on the NSE. Tata Motors Passenger Vehicles (TMPV) declined around 4 per cent.
Tata Steel shares also dropped more than 2 per cent to Rs 183.60, while Tata Elxsi, Tata Communications, Tata Technologies, Tata Power and Trent traded lower by up to 2 per cent.
The sell-off followed Chandrasekaran’s decision to step down after his current tenure ends in February 2027, bringing an end to months of uncertainty over his continuation at the holding company.
In a statement, Chandrasekaran said the Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously recommended extending his tenure by another five years. The proposal was subsequently recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the board.
However, he said the proposal did not proceed because one board member did not support it.
“I chose to defer the matter then because I felt strongly that such an important decision should not proceed without unanimous support,” Chandrasekaran said.
“It has been six months since that Board meeting, and no resolution has been reached till date,” he added.
Chandrasekaran said he subsequently decided not to offer himself for reappointment, citing the importance of providing leadership clarity as Tata Sons undertakes several strategic projects.
Chandrasekaran became Chairman of Tata Sons in 2017 after serving as CEO and Managing Director of TCS. During his tenure, he oversaw major investments, acquisitions and strategic initiatives across the Tata Group.
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