Tata Group stocks soar, Tata Steel becomes showstopper with 6 pct gains, Tata Power, Tata Motors other top gainers

Immediately after the Supreme Court (SC) ruling in the favour of Tata Group in a long-drawn legal tussle with its former Chairman Cyrus Mistry, all the group companies' stocks soared, bringing a cheer to all the investors.

The salt-to-steel conglomerate has over 10 companies listed on the exchanges, of which three — Tata Steel, Tata Motors and Tata Consultancy Services — are among the Nifty 50 companies.

The most surged stock of the group companies was Tata Steel, which surged over 6 per cent today after the SC verdict, followed by Tata Power the second most surged near 5 per cent.

Tata Motors continued its rally for the second straight day and jumped around 4 per cent after the verdict news broke.

Other mid-cap stocks of the group companies such as Tata Coffee, Tata Elxsi, Tata Consumer, Tata Chemicals were trading up by around 2 per cent today. The telecom company of the group Tata Communications' stocks were third in terms of the Tata Group company stocks that gained most today. The stock went up over 4 per cent on the exchanges.

The Supreme Court on Friday ruled in favour of the Tata Group in a legal battle with its former Chairman Cyrus Mistry in which the spotlight squarely fell on patriarch Ratan Tata.

A three-judge bench headed by Chief Justice of India S.A. Bobde said it is allowing the appeals filed by Tata Group and observed that all the questions of law are in favour of Tata Group.

The court dismissed all the pleas of Mistry and also set aside the NCLAT's verdict to reinstate Mistry as group chairman.