Tata Group companies’ stocks have been on the rise ever since Noel Tata was appointed as the chairman of Tata Trusts, a philanthropic arm of Tata Group. Born in 1957, Noel Tata is the half-brother of Ratan Tata, chairman emeritus of Tata Sons.
This came a day after the business stalwart Ratan Tata passed away in a Mumbai hospital due to critical health conditions.
The share price of Tata Investment Corporation was up by 5 per cent to trade at Rs 7,269 per share. Trent stocks also rose 3.5 per cent at Rs 8,309 per share. Tata Chemicals traded 2.9 per cent upper at Rs 1,184. Rallis India, on the other hand, traded 2.5 per cent higher today. Tata Communications was 2 per cent higher and Tejas Network was 1.9 per cent up. Titan and Tata Steel stocks also witnessed a slight growth.
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Tata Sons’ 65.9 per cent ownership is with the trusts—Sir Ratan Tata Trust and Sir Dorabji Tata Trust. 12.87 per cent of the stake in the company is held by many of the Tata Group companies and 18.4 per cent stake is with the Mistry family.
“I am deeply honoured and humbled by the responsibility that has been cast on me by my fellow Trustees. I look forward to carrying on the legacy of Mr. Ratan N. Tata and the Founders of the Tata Group,” the new chairman of the trusts said in a statement.
Key Member of the Tata Group
Widely regarded as a key player in the Tata family, Noel Tata has held significant leadership roles within Tata companies. He has been associated with the Tata group for 40 years and currently serves on the Board of various Tata Group Companies, including as the chairman of Trent, Tata International, Voltas and Tata Investment Corporation and as the vice chairman of Tata Steel and Titan Company. He also serves as a trustee on the Board of Sir Ratan Tata Trust and Sir Dorabji Tata Trust.
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He was the managing director of Tata International between August 2010 and November 2021. Prior to that, he served as the managing director of Trent.
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