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Tata Group shares rise up to 6% after Supreme Court upholds removal of Cyrus Mistry

While Tata Communications share touched an intraday high of Rs 1119.1, rising 4.21% against previous close, Tata Steel share touched an intraday high of Rs 767.3, climbing 6.14% on BSE

twitter-logoBusinessToday.In | March 26, 2021 | Updated 13:50 IST
Tata Group shares rise up to 6% after SC upholds removal of Cyrus Mistry
Share of Tata Chemicals touched an intraday high of Rs 757.4, gaining 3.58% against previous close on BSE.

Tata Group shares rose up to 6% in afternoon session today after the Supreme Court allowed Tata Sons' appeal against the order passed by National Company Law Tribunal. In a big win for Tata Sons, the apex court upheld Cyrus Mistry's removal from the post of Chairman.

The NCLAT had asked the Tata conglomerate to reinstate Cyrus Mistry as the executive chairman of the company in December 2019. The apex court answered all legal questions involved in the favour of Tata Sons.

Boosted by the apex court's move, Tata Communications share touched an intraday high of Rs 1119.1, rising 4.21% against previous close . The stock has gained after 4 days of consecutive fall. Tata Communications share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

Similarly, Tata Steel share touched an intraday high of Rs 767.3, climbing 6.14% on BSE.

Big win for Tata Sons: Supreme Court upholds Cyrus Mistry's removal

Tata Steel share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Another Tata Group stock Tata Motors touched an intraday high of Rs 301.5 ,rising 5.6% against previous close on BSE. The large cap share trades higher than 100 day and 200 day moving averages but lower than 5 day, 20 day and 50 day moving averages.

Stock of Tata Group's IT arm TCS rose up to 1.62%  to Rs 3118 against previous close of Rs 3068. The large cap share has gained after 2 days of consecutive fall. The share trades higher than 20 day, 100 day and 200 day moving averages but lower than 5 day and 50 day moving averages.

Win for Tata; no comeback for Mistry

Share of Tata Chemicals  touched an intraday high of Rs 757.4, gaining 3.58% against previous close on BSE. The stock has gained after 2 days of consecutive fall. The stock trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

Stock in news: Reliance, JSW Steel, BPCL, Oil India, Adani Enterprises, Edelweiss, DLF, Power Grid

Another Tata Group stock Tata Coffee touched an intraday high of Rs 120.75, rising 3.74% against previous close on BSE. The share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages. The stock has gained after 2 days of consecutive fall

Share of Tata Group's design arm Tata Elxsi touched an intraday high of Rs 2,697 rising 3.57%  on BSE. The stock has gained after 2 days of consecutive fall. It trades higher than 100 day and 200 day moving averages but lower than 5 day, 20 day and 50 day moving averages.

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