Former Tata Sons chairman Ratan Tata passed away at 86 in Mumbai on October 9, 2024. Tata stocks almost felt no price difference today in the stock market, as the leadership transition had taken place long back.
Ratan Tata, the former chairman of Tata Sons, passed away on October 9, 2024, at the age of 86 in a hospital in Mumbai. The Maharashtra government has declared a day of mourning on October 10, and public viewing of his mortal remains will be available at the National Centre for Performing Arts (NCPA) in Mumbai from 10 am to 4 pm today before his cremation later in the day.
The Tata Group, a renowned conglomerate with presence all over the world, was established in 1868 by Jamsetji Nusserwanji Tata and is headquartered in Mumbai, India. The conglomerate employs over 1 million people globally.
The group operates across 10 major business verticals, including automotive, steel and mining, information technology, consumer products, chemicals, energy, hospitality, retail and e-commerce, infrastructure, and aerospace and defense.
Ratan Tata had passed over the mantle to Natarajan Chandrasekaran in 2012 as chairman of the group.
Following the passing away of Ratan Tata, the stocks of Tata group companies largely remained unscathed, and most of the companies are up today. As of October 10, 2024, 10.30 am, stock prices of various Tata Group companies are as follows.
Tata Motors: Current Price is at Rs 936.35, down by approximately 0.24 per cent from the previous close. However, this is in keeping with the trend of the stock. The scrip is already down 10.46 per cent this month.
Tata Steel: Current Price is at Rs 160.82 after a surge of 1.10 per cent from previous close. However, all metal stocks are up today.
Other stocks: Tata Power Company is up 2.81 per cent today. Tata Consultancy Services (TCS) also experienced a minor surge of .42 per cent up today.
Other Tata stocks in chemicals consumer products, energy, and hospitality sectors saw upside momentum. Tata chemicals surged 5.67 per cent today. Tata Consumer Products surged 0.27 per cent.
As per Tata Group's website, "66 per cent of Tata Sons’ equity is held by the Tata Trusts and dividends flow directly to support the philanthropic work of the Trusts."
These social initiatives spread across investments spanning education, healthcare, and community development sectors.