Shares of several Tata Group companies, including Trent Ltd, Tata Chemicals, and Tata Investment Corporation, surged on Friday following the appointment of Noel Tata as the new chairman of Tata Trusts. The appointment came after the death of Ratan Tata, former chairman of Tata Sons, on October 9 at the age of 86. Noel Tata, Ratan Tata’s half-brother, was chosen to lead the trusts during a board meeting held in Mumbai.
Tata Trusts holds a controlling 66% stake in Tata Sons, the holding company of the Tata Group, and its leadership plays a key role in overseeing the group’s diverse business interests. Noel Tata’s appointment has brought a sense of stability to the group, which is reflected in the positive movement in its stock prices.
Trent Ltd, a company closely associated with Noel Tata, led the surge. Trent Ltd’s stock jumped by over 3% during the trading session, reaching an intraday high of Rs 8,308.8 per share on the National Stock Exchange (NSE). This represents a 3.48% increase from its previous close.
