Tata Group stock surges 8% on new MD & CEO appointment - Key details
According to a stock exchange filing on May 20, 2026, the board approved Lakshminarayanan's appointment for a five-year term stretching from May 20, 2026, to May 19, 2031.
- May 20, 2026,
- Updated May 20, 2026 1:43 PM IST
Tata Communications share price: Tata Communications Ltd jumped over 8% in Wednesday’s trade following the official appointment of Ganapathi S. Lakshminarayanan as the company's new Managing Director and Chief Executive Officer (CEO).
On Wednesday, the Tata Group stock was trading 6.54% higher at Rs 1752.30 per share on BSE, up from the previous close of Rs 1,644.80 apiece. The counter surged as much as 8.50% to touch day's high of Rs 1,784.75 apiece in early trade after the announcement.
According to a stock exchange filing on May 20, 2026, the board approved Lakshminarayanan's appointment for a five-year term stretching from May 20, 2026, to May 19, 2031.
The incoming chief executive brings over 30 years of global management experience to the table. Before stepping into this corner office, he served as the MD and Group Vice President for ServiceNow in India and SAARC, and previously served as the CEO of Airtel Business, the filing said.
This transition follows the board change announced earlier on April 22, 2026. According to the company's exchange filings, Vivek Manglik was appointed as Executive Vice President - Interaction Fabric, effective May 4, 2026. A telecom veteran, Manglik previously spent 15 years at Bharti Airtel, most recently serving as senior vice president for global business.
Meanwhile, earlier on May 8, 2026, the company made a move to boost its green credentials by entering into a share purchase agreement with Clean Max Enviro Energy Solutions Ltd. The transaction secured Tata Communications a 26% stake, comprising 2,600 equity shares, in a special purpose vehicle named Clean Max Yuhdul Private Ltd for a total cash consideration of Rs 26,000.
Tata Communications share price: Tata Communications Ltd jumped over 8% in Wednesday’s trade following the official appointment of Ganapathi S. Lakshminarayanan as the company's new Managing Director and Chief Executive Officer (CEO).
On Wednesday, the Tata Group stock was trading 6.54% higher at Rs 1752.30 per share on BSE, up from the previous close of Rs 1,644.80 apiece. The counter surged as much as 8.50% to touch day's high of Rs 1,784.75 apiece in early trade after the announcement.
According to a stock exchange filing on May 20, 2026, the board approved Lakshminarayanan's appointment for a five-year term stretching from May 20, 2026, to May 19, 2031.
The incoming chief executive brings over 30 years of global management experience to the table. Before stepping into this corner office, he served as the MD and Group Vice President for ServiceNow in India and SAARC, and previously served as the CEO of Airtel Business, the filing said.
This transition follows the board change announced earlier on April 22, 2026. According to the company's exchange filings, Vivek Manglik was appointed as Executive Vice President - Interaction Fabric, effective May 4, 2026. A telecom veteran, Manglik previously spent 15 years at Bharti Airtel, most recently serving as senior vice president for global business.
Meanwhile, earlier on May 8, 2026, the company made a move to boost its green credentials by entering into a share purchase agreement with Clean Max Enviro Energy Solutions Ltd. The transaction secured Tata Communications a 26% stake, comprising 2,600 equity shares, in a special purpose vehicle named Clean Max Yuhdul Private Ltd for a total cash consideration of Rs 26,000.