Tata Group shares fall; Tata Coffee, TTML plunge 20% each

Titan Industries is down 14%, while Tata Steel, Tata Power and TCS are down 2-3% on BSE.

Shares of Tata Group companies have tumbled up to 20% in noon deals with Tata Coffee and Tata Teleservices (Maharashtra) or TTML seen no buyers on the counter.

Tata Coffee is locked in lower circuit of 20% at Rs 1,100 on back of heavy volumes on the Bombay Stock Exchange (BSE). A combined 771,051 shares representing about 10% of free-float equity of the company have changed hands on the counter so far and there are pending sell orders for 14,837 shares on BSE and NSE at 1415 hours.

TTML too, frozen down circuit of 20% at Rs 5.52, trading at its decade low value on BSE. Earlier, in May 2003, the stock hit low of Rs 5.70. The counter has seen a combined 11.4 million shares have changed hands and there are pending sell orders for 728,943 shares on BSE and NSE.

Titan Industries is current trading at Rs 201 its lowest level since February 2012, plunged 24% in two days after the company on Tuesday said that the Reserve Bank of India (RBI) has clarified that all imports of gold for domestic consumption, either through banks, nominated agencies or directly can be made only with 100% cash margin.

Other Tata Group companies such as Tata Steel, Tata Power Company, Tata Consultancy Services (TCS) and Tata Global Beverages are down in the range of 1-3%.