Shares of Tata Group companies rose by as much as 10 per cent on Thursday, following the death of Ratan Tata, the influential Chairman Emeritus of Tata Sons, who passed away late on Wednesday at the age of 86. Among the major gainers were Tata Chemicals and Tata Teleservices.
"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," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. He noted that Tata's pursuit of growth contributed significantly to India's economic development, benefiting millions of investors through his vision.
Tata Investment Corporation's stock soared 10.47 per cent to ₹7,235.80 per share, while Tata Chemicals climbed 6.26 per cent to ₹1,174.85. Tata Teleservices Maharashtra jumped 5.84 per cent to ₹83.77, and Tata Elxsi rose 3.37 per cent to ₹7,867.80. Tata Power also saw a 2.56 per cent increase, trading at ₹472.70 on the Bombay Stock Exchange (BSE).
Shares of Tata Technologies, Rallis India, Nelco, Tejas Networks, TajGVK Hotels & Resorts, and Indian Hotels & Company also experienced gains. Other Tata companies, including Tata Steel, Tata Communications, Tata Consultancy Services (TCS), and Tata Consumer Products, saw modest increases in their stock prices.
Some Tata Group stocks faced declines, with retail firm Trent slipping 0.90 per cent to ₹8,146.35, Titan falling 0.81 per cent to ₹3,465.80, and Tata Motors decreasing by 0.40 per cent to ₹935.35.
The BSE Sensex rose by 198.28 points, or 0.24 per cent, to 81,665.38 in mid-session trading on Thursday.
In light of Tata's passing, Vijayakumar advised investors to consider the long-term growth of the Tata empire as a model for wealth creation in capital markets. "In a bull market like the present one, there will always be valuation concerns," he added.
Tata Consultancy Services has cancelled a press conference originally scheduled for Thursday evening to announce its second-quarter performance, company officials confirmed. The announcement will be made after a board meeting, with a scheduled call for analysts at 7 p.m. still set to proceed.
The last rites for Ratan Tata will take place at 4 p.m. on Thursday in Worli, central Mumbai.
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