Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming Tata Group into a global conglomerate, passed away late on October 9.
| Photo Credit: PTI
Shares of Tata Group companies on Thursday (October 10, 2024) rose up to 10%, with Tata Chemicals and Tata Teleservices among the major gainers.
Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday (October 9, 2024). He was 86.
Ratan Tata death reactions live updates
“Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.
“Ratan Tata, while pursuing the group’s growth, contributed substantially to India’s growth and millions of ordinary investors gained from the great man’s vision,” V.K. Vijayakumar, chief investment strategist at Geojit Financial Services, said.
The stock of Tata Investment Corporation soared 10.47% to trade at ₹7,235.80 apiece, Tata Chemicals climbed 6.26% to ₹1,174.85, Tata Teleservices Maharashtra jumped 5.84% to ₹83.77, Tata Elxsi rose 3.37% to ₹7,867.80, Tata Power went up 2.56% to ₹472.70 on the BSE.
Also, shares of Tata Technologies, Rallis India, Nelco, Tejas Networks, TajGVK Hotels & Resorts, and Indian Hotels & Company also rose on the bourse.
In addition, the scrip of Tata Steel rose 0.91%, Tata Communications (0.84%), Tata Consultancy Services (0.21%), Tata Consumer Products (0.17%), Voltas (0.24%) and Automotive Stamplings & Assemblies (0.23%) on the BSE.
However, Tata Group’s retail firm Trent slipped 0.90% to trade at ₹8,146.35 apiece, Titan fell 0.81% to ₹3,465.80 and Tata Motors was down 0.40% to ₹935.35 per scrip.
The 30-share BSE Sensex jumped 198.28 points, or 0.24%, to 81,665.38 in the mid-session trade on Thursday.
Investors should learn from the growth of the Tata empire that a long-term investment horizon is required to really participate in the wealth creation that happens through the capital market. In a bull market like the present one, there will always be valuation concerns, Mr. Vijayakumar added.
Tata Consultancy Services (TCS) has cancelled a press conference scheduled on Thursday (October 10, 2024) evening to announce its second quarter performance, company officials said.
The press conference was originally scheduled at 1730 hours on Thursday (October 10, 2024).
As originally scheduled, TCS will inform the exchanges about its July-September performance after the board meeting, the officials said.
A scheduled call with analysts at 7 p.m. will be held as per schedule, they said.
The last rites of Ratan Tata, who passed away late on Wednesday (October 9, 2024) evening, are scheduled to take place after 4 p.m. at central Mumbai’s Worli on Thursday (October 10, 2024).
Tata breathed his last on Wednesday (October 10, 2024) evening at a city hospital.
Published – October 10, 2024 12:35 pm IST
