Tata stocks open in red for third consecutive day
October 27, 2016 09:32
Tata-Mistry spat effect: Scrips of Tata stocks open in red again for the third successive day.
Tata scrips of Tata Group's subsidiaries have been closing in the red for the last two days since Cyrus P Mistry was removed as the Chairman of Tata Sons.
Tata Sons is the holding company of the Tata Group. Shares of various subsidiaries of the industrial conglomerate initially fell in a range of about one to four per cent during the day's trade on Tuesday.
Yesterday, NSE and BSE wrote to some of the listed Tata Group companies to clarify about Cyrus Mistry's claim that the group faces a $18-billion writedown. Markets regulator Sebi, on the other hand, is watching the developments at the Tata Group but has not taken any proactive step as of now.
Tata scrips of Tata Group's subsidiaries have been closing in the red for the last two days since Cyrus P Mistry was removed as the Chairman of Tata Sons.
Tata Sons is the holding company of the Tata Group. Shares of various subsidiaries of the industrial conglomerate initially fell in a range of about one to four per cent during the day's trade on Tuesday.
Yesterday, NSE and BSE wrote to some of the listed Tata Group companies to clarify about Cyrus Mistry's claim that the group faces a $18-billion writedown. Markets regulator Sebi, on the other hand, is watching the developments at the Tata Group but has not taken any proactive step as of now.
TOP STORIES
© 2024 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Feedback - About us - Terms of use - Grievances