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Shares of Tata group companies rise after NCLT ruling

Press Trust of India  |  New Delhi 

Shares of group companies ended in green today after the (NCLT) dismissed Cyrus Mistry's pleas against Sons for removing him as

The scrip of Trent rose as much as 4.58 per cent to close at Rs 324 on the BSE, while that of Global Beverages went up by 3.07 per cent to settle at Rs 275.05.

shares grew 2.44 per cent to end the session at Rs 532.25, moved up 2.27 per cent to Rs 708.40, advanced 2.11 per cent to Rs 602 and gained 2.09 per cent to Rs 73.20.

Further, Tata Motors, Tata Investment Corporation, Tata Elxsi, Tata Coffee, Tata Chemicals, Tata Sponge Iron, also ended in the positive territory.

Meanwhile, (TCS) and Titan were the only losers.

TCS fell 1.34 per cent to close at Rs 1,887.65 ahead of its June quarter earnings scheduled for tomorrow.

Titan stock dropped by 1.08 per cent to settle at Rs 821.95.

In a legal battle running for nearly two years, the NCLT today dismissed the pleas of challenging his removal as of

Mistry was removed as the board and majority of its members lost confidence in him, the tribunal said.

In its ruling, the tribunal said it was not accepting Mistry's contentions that his removal was due to the result of mismanagement by the board and oppression of minority shareholders of the group.

Mistry was ousted as Tata Sons in October 2016.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 09 2018. 16:45 IST