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Tata Group Stocks End the Day on a Mixed Note

TCS Chief Executive N Chandrasekaran speaks during a news conference in Mumbai on July 18, 2013. Chandrasekaran was appointed the Tata Group chairman on Thursday. (Reuters)

New Delhi: Tata Group stocks on Friday ended on a mixed note, a day after TCS chief Natarajan Chandrasekaran was appointed the Chairman of Tata Sons.

Shares of Tata Coffee surged 5.84 per cent, Tata Global Beverages was up 2.44 per cent, Tata Metaliks rose 1.03 per cent, Tata Sponge Iron was up 0.49 per cent and Tata Chemicals climbed 0.43 per cent on BSE.

On the other hand, TCS slipped 3.90 per cent, Tata Elxsi dipped 0.32 per cent, Tata Steel fell 0.30 per cent, Tata Communications dropped 0.13 per cent and Tata Power fell 0.06 per cent.

“By selecting N Chandrasekaran as the Chairman of Tata Sons, the selection committee has sent an unambiguous signal to all stakeholders that they have chosen a person who has successfully managed a global enterprise straddling various geographies and is thus conversant with regulatory & cultural milieu prevalent in both developed & developing economies and is also firmly rooted in the socially-conscious Tata ethos,” said Ajay Bodke, CEO & Chief Portfolio Manager PMS, Prabhudas Lilladher.

Popularly known as ‘Chandra’, the 54-year-old will take charge at the helm of USD 103-billion Tata Sons, the main holding company of the salt-to-software conglomerate from February 21. He will be the first non-Parsi chairman of the 150-year old Tata Group.

Chandra was chosen to step into the shoes of interim Chairman Ratan Tata, who took over on October 24 last year, after the removal of Cyrus Mistry.

Source: News18