TCS, Tata Motors, Tata Chemicals And Other Group Stocks In Focus After Ratan Tata's Demise
Traders also await the earnings of two Tata companies on Thursday: TCS and Tata Elxsi Ltd.
Shares of Tata Technology Services Ltd., Tata Motors Ltd., Tata Chemicals Ltd. and group stocks of the conglomerate held steady after its former Chairman, Ratan Tata, passed away on Wednesday.
The chairman emeritus of Tata Sons and a highly regarded Indian industrialist died at the age of 86. He led the Tata Group for around 21 consecutive years between 1991 and 2012.
Tata leaves a legacy that influenced contemporary Indian industry and made a substantial impact on society.
While being at the helm of expanding one of India's biggest conglomerates, Tata also nurtured several startups when they weren't sector leaders, such as Urban Company, CashKaro, BlueStone, CarDekho and Tracxn.
Traders also await the earnings of two Tata companies on Thursday—TCS and Tata Elxsi Ltd—effectively kick-starting India Inc.'s second-quarter earnings cycle.
The Tata-owned IT major told clients that the second quarter will be soft with most business coming in from India.
ALSO READ
Ratan Tata Passes Away: Prime Minister Modi, President Murmu, and Business Leaders Mourn Loss
The scrip of Tata Investment Corp. rose by over 12% in early trade while TRF Ltd. surged 10% on Thursday. Shares of Tata Chemicals Ltd., Tata Elxsi Ltd., and Tata Technologies Ltd. were up by over 3%, each. This compares to a 0.5% advance in the benchmark Nifty 50 as of 10:09 a.m.
The share price of Trent Ltd., and Tinplate Company of India Ltd., declined slightly in trade on Thursday.
