N Chandrasekaran reappointed as chairman: Tata Chemicals, Tata Investment, TCS, Tata Tech shares rise up to 13%

Shares of Tata Group rose in the afternoon session today after news reports said the board of Tata Sons has approved the reappointment of N Chandrasekaran as chairman for fresh five years. Tata Chemicals Ltd, Tata Investment Corp, Tata Consultancy Services Ltd , Tata Technologies and Nelco shares zoomed up to 13.5% today. The Group stocks also received a boost after a Bloomberg report said the proposal for the listing of Tata Sons has been cleared.

Tata Chemicals shares zoomed 13.5% to Rs 831 in afternoon session. Market cap of Tata Chemicals rose to Rs 20,439 crore. Shares of another Tata Group firm Tata Investment rose 7% to Rs 727.60 on BSE. Market cap of the firm rose to Rs 36,560 crore on BSE.

Tata Consultancy Services (TCS) shares too gained 3.24% to Rs 2262. Market cap of the IT firm rose to Rs 8.08 lakh crore. Tata Technologies shares too gained over 2% to Rs 767.35. Market cap of the firm rose to Rs 30,870 crore.

Tata Motors Passenger Vehicles shares too rose 6% to Rs 319.70. Market cap of the auto firm rose to Rs 1.16 lakh crore.

Shares of another Tata Group firm Nelco rose 2.20% to Rs 958.35. When Tata Sons goes public, Tata Group firms will also sell their stake in the parent firm.

Tata Chemicals holds 10,237 shares, or 2.53% stake in Tata Sons. Tata Power owns 6,673 shares, or 1.65% stake.  Indian Hotels Company (IHCL) has 4,500 shares, or 1.11%, in Tata Sons.

Tata Power shares too rose 3% to Rs 370. Market cap of the firm rose to Rs 1.17 lakh crore.

Tata Consumer Products gained 1.5% to Rs 1019 on BSE. Market cap of the consumer products firm rose to Rs 1 lakh crore.