Tata stocks gain as Cyrus Mistry resigns from boards
Mistry resigned from entire Tata Companies. He was on board of seven listed Tata companies namely - Tata Chemicals, Tata Consultancy Services, Tata Motors, Tata Steel, Indian Hotel, Tata Teleservices and Tata Power.
Shares of various Tata companies like Tata Chemicals, Tata Consultancy Services, Tata Motors, Tata Steel, Indian Hotels and Tata Power gained on Tuesday morning after Cyrus Mistry stepped down from their boards on December 19,2016.
At 10.01 am, shares of Tata Chemicals were trading at Rs 491 per share.
Tata Steel surged above Rs 414-mark, but presently was down by 0.69% at Rs 408.15 per shares.
These five Tata companies were to discuss the resolution of Mistry's removal in their extraordinary general meeting (EGM) this week.
Two companies namely TCS and Tata Teleservices have already voted out Mistry from their board through EGM.