TCS, Tata Motors And Other Group Stocks Fall Up To 5% On Reports Of N Chandrasekaran Exit

Shares of Tata Group companies came under pressure on August 12 after a report said Tata Sons Chairman N Chandrasekaran is likely to step down ahead of the company’s annual general meeting (AGM) on August 18.

Tata Consultancy Services (TCS) fell as much as 4.84 per cent to Rs 2,322 apiece on the NSE, while Tata Motors Passenger Vehicle plunged up to 3.86 per cent to Rs 334.20 per share.

Tata Consumer Products fell more than 1 per cent to Rs 1,065.40 on the NSE, Titan Company declined 1.1 per cent. Tata Steel was marginally lower, while Tata Chemical and tata Capital were the only Tata Group stocks trading in green.

The sell-off also coincides with the weakness in broader market as rising crude oil prices added to the pressure.

According to an Economic Times report, Chandrasekaran has discussed with close associates the possibility of stepping down rather than facing an uncertain AGM on August 18. Chandrasekaran’s continuation as Tata Sons chairman until February 2027 depends on his reappointment as a director of the holding company.

A failure to secure reappointment at the AGM could bring an abrupt end to his tenure and trigger a leadership transition at the Tata Group.