Amid divide, shares of Tata companies fall

MUMBAI: Several Tata Group companies saw their stocks crash on Friday on the back of Tata Trusts' opposition to N Chandrasekaran's re-appointment as Tata Sons chief. Market players feel internal fights could delay Tata Sons' listing which they see as a major value unlocking process.Among the group's stocks, on BSE, Tata Chemicals that holds 2.5% in Tata Sons crashed 11.1% while Tata Investment Corp was down 2.3%. The slide in several of the group's stocks came on a day Nifty on NSE closed 75 points up while sensex closed a marginal 20 points lower.Since RBI, last week, said that Tata Sons must list, because it is an upper layer NBFC, some Tata group stocks had been rallying. Market players felt a listing would unlock value for these companies as the unlisted stocks will be marked to market.Among other Tata Group stocks holding stakes in Tata Sons, Tata Motors PV closed 3.5% lower, Tata Steel closed 1.7% lower but Indian Hotels closed 0.8% higher.Tata Power, another company that also holds a small stake in the group's parent, closed 1.8% higher.Among Tata Group companies that do not hold stakes in Tata Sons, group flagship Tata Consultancy Services crashed 4.3% and Tata Motors closed 1.3% higher.Get the latest Business News and Live updates. Download the TOI app.