Amid the intensified battle between the Tata Sons and Tata Trusts over the reappointment of N Chandrasekaran as chairman, the stocks of Tata group come
under pressure. Tata Group stocks came under pressure in early trade on Monday as the biggest conglomerate dispute of India's history is set to knock the doors of court. Most of the Tata Group counters extended Friday’s decline in Monday’s session. Tata Capital fell around 3% to Rs 341, Tata Power declined 2.5% to Rs 365.55 while Tata Investment Corporation dropped 2.3% to Rs 685.90. Further, the Tata Technologies slipped 2.2% to Rs 707, and Tata Elxsi fell 2% to hit a 52-week low of Rs 3,268. Among the other stocks, Tata Motors Passenger Vehicles declined 1.5% to Rs 299.25, while its commercial vehicles counterpart fell 1%. Tata Communications was down 1.5% at Rs 1,746.80 and Tata Teleservices declined 1.4% to Rs 35.25. Tata Chemicals initially fell 4% but it recovered to trade 0.6% higher. TCS, after initially declining 1%, also recovered and was up 1%. Tata Steel gained 1%.
