BUSINESS
Noel Tata's appointment as Chairman of Tata Trusts led to gains in several Tata group stocks.
Shares of several Tata group companies saw a rise in value on Friday after the announcement that Noel Tata had been named the new Chairman of Tata Trusts. This decision follows the passing of Ratan Tata and was made unanimously by the board of the Trusts. With this appointment, Noel Tata now leads two of the most influential charitable organizations in the Tata group.
Noel Tata is not new to the Tata Trusts. He has already been a trustee in both the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust. Together, these two trusts hold a 66% ownership stake in Tata Sons, the company that serves as the holding entity for the Tata group. Specifically, the Sir Dorabji and Sir Ratan Tata Trusts hold a direct 52% stake in Tata Sons, according to reports from India Today.
Tata Sons plays a crucial role in managing stakes in various Tata companies. For instance, it owns 71.7% of Tata Consultancy Services (TCS), 68.5% of Tata Investment Corporation, 45.2% of Tata Power, 43.7% of Tata Motors, and 42.2% of Tata Elxsi. It also has significant holdings in other Tata firms such as Trent, Indian Hotels, Tata Chemicals, and Tata Steel, with stakes ranging from 30% to 36%.
On the stock market, shares of Trent saw a significant increase of 2.94%, reaching Rs 8,269.30. Noel Tata has been instrumental in the growth of Trent, expanding it from a single store in 1998 to over 700 stores today. He has also led several retail brands under the Tata umbrella, such as Westside, Star Bazaar, and Zudio. His involvement with the Sir Ratan Tata Trust began in 2019, and he became Vice Chairman of Titan Company in 2018 and Tata Steel in March 2022.
Other Tata group stocks also performed well. Shares of Titan Company rose by 0.7%, reaching Rs 3,471.85, while Voltas advanced 0.51% to Rs 1,786.10. Tata Steel saw an increase of 0.85%, reaching Rs 161, and Tata Investment Corporation Ltd gained 2.66%, closing at Rs 7,108.30.
Noel Tata currently holds key positions across several Tata group companies. He serves as Chairman and Non-Executive Director of Tata International Limited and sits on the boards of Trent, Voltas, Tata Investment Corporation, Tata Steel, and Titan Company Limited.
Despite a generally weak session in the stock market, other Tata group stocks also saw gains. Tata Motors rose slightly by 0.15%, reaching Rs 930.20, while Tata Communications added 0.66% to Rs 1,966.45. Tata Consumer Products Ltd saw a 0.38% rise, closing at Rs 1,117.15.
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