Investors rallied behind the Tata stock following the collapse of Ratan Tata, with Tata Investments and Tata Chemicals seeing gains of up to 10%.
Shares of Tata group companies soared as high as 10 per cent on October 10 after Tata Sons emeritus chairman Ratan Tata passed away on October 9 at the age of 86.
While many have been deeply affected by the veteran engineer’s downfall, investors have reacted positively, reflecting their confidence in the group’s future and its continued value at the fundamental levels espoused by Ratan Tata revealed.
Ratan, who led the Tata Group for more than two decades, is credited with turning the Tatas into a global technological powerhouse. His strategic approach, innovation and unwavering commitment to corporate social responsibilities earned him widespread respect and admiration. Under his leadership, Legacy Group's market revenue grew 17 times.The Tata Group has achieved impressive growth due to strategic decisions and timely acquisition of Ratan Tata while listed companies the name's combined market capitalization reached Rs 30 lakh crore.
As chairman, Tata Group's revenue has increased from around Rs 18,000 crore to Rs 5.5 lakh crore and its market capitalization from around Rs 30,000 crore to Rs 5 lakh crore
At 11:13 a.m. on October 10, shares of Tata Investment Corporation and TRF rose nearly 10 percent.Tata Teleservices and Tata Chemicals gained nearly 6 percent. of Tata Power Company and Tata Elxsi grew by about 3%.
Tata Technologies, Tejas Networks, Indian Hotel Corporation, Oriental Hotel, Taj GV
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