Nifty Tata Group

NSE: NIFTYTATAGROUP | ISIN: NIFTYTATAGROUP
|
16257.7300 125.55 (0.78%)
NSE May 05, 2025 15:31 PM
Volume: 52.6M
 

Nifty Tata Group
Nifty Tata Group
17 Nov 2016

A Tata Sons board meeting takes place today to discuss the options for removing Cyrus Mistry as Chairman from group companies. These companies that Mistry remains Chairman of are Tata Motors, Tata Steel, Tata Chemicals, Indian Hotels, Tata Power and Tata Tele. Of these firms, the independent directors of Indian Hotels, Tata Chemicals and Tata Motors have expressed their continued support for Mistry, while directors are divided at Tata Steel. Tata Sons is also looking for ways to strip Mistry of proxy powers, which would allow him to exercise his vote in shareholder meetings. 

Tata Global Beverages, which co-owns the Starbucks India chain, fired Mistry from the board on Tuesday, and TCS recently replaced him with Ishaat Hussain as Chairman. However, Tata Sons is still struggling to replace Mistry in companies where it only holds a minority stake. 

Mistry has called the move to fire him from the Tata Global Beverages board illegal, while the company has insisted that his removal was according to law. Mistry has since then sent a legal notice to the company, and has not attended the board meeting for TCS today, where he still holds a director role.

Nifty Tata Group is trading above its 50 day SMA of 16146.4
More from Nifty Tata Group
Recommended