Trent, Voltas, Tata Steel, Titan: Tata stocks gain after Noel Tata's trust chairmanship

Shares of several Tata group stocks gained in Friday's trade, as Noel Tata was named as the new Chairman of Tata Trusts, following the demise of Ratan Tata. The decision was made unanimously by the board, placing Noel at the helm of two of the most significant charitable organizations within the Tata group.

Noel Tata is already a trustee in the Sir Ratan Tata Trust and Sir Dorabji Tata Trust. The two trusts together own a 66 per cent stake in Tata Sons, the Tata group's holding company. This includes a 52 per cent stake held directly by the Sir Dorabji and Sir Ratan Tata Trusts, India Today reported.

Data showed Tata Sons owned 71.7 per cent stake in TCS, 68.5 per cent stake in Tata Investment Corporation, 45.2 per cent stake in Tata Power, 43.7 per cent stake in Tata Motors and 42.2 per cent stake in Tata Elxsi. It owned 30-36 per cent stakes in Trent, Indian Hotels, Tata Chemicals and Tata Steel.

Shares of Trent were up 2.94 per cent at Rs 8,269.30. Noel Tata played a crucial role in expanding Trent from a single store in 1998 to over 700 stores today and has led various retail ventures, including brands like Westside, Star Bazaar, and Zudio. He joined the Sir Ratan Tata Trust board in 2019 and became Vice Chairman of Titan Company in 2018, followed by Vice Chairman of Tata Steel in March 2022.

Titan Company edged 0.7 per cent up at Rs 3,471.85. Voltas advanced 0.51 per cent to Rs 1,786.10. Tata Steel added 0.85 per cent to Rs 161. Shares of Tata Investment Corporation Ltd also gained 2.66 per cent to Rs 7,108.30.

At present, Noel serves as the Chairman and Non-Executive Director of Tata International Limited and holds key positions on the boards of Trent, Voltas, Tata Investment Corporation, Tata Steel, and Titan Company Limited.

Meanwhile, many other Tata group stocks were trading higher in an otherwise weak session. Tata Motors rose 0.15 per cent to Rs 930.20. Tata Communications added 0.66 per cent to Rs 1,966.45. Tata Consumer Products Ltd added 0.38 per cent to Rs 1,117.15.