Seven listed Tata companies together own 12.1 per cent in Tata Sons with a combined book value worth around Rs 30,700 crore.
Tata Steel and Tata Motors dropped over 10 per cent each. Larsen & Toubro, HCL Technologies, Adani Ports, Tech Mahindra, Infosys, Tata Consultancy Services, Reliance Industries and Mahindra & Mahindra were the other big laggards.
Among the Sensex firms, Hindustan Unilever, Reliance Industries, Infosys, Asian Paints, ITC and UltraTech Cement were the major gainers. State Bank of India, JSW Steel, Axis Bank, ICICI Bank, Tata Steel and Tata Motors were among the laggards.
Investors' wealth climbed Rs 3.20 lakh crore as markets staged a smart comeback on Wednesday after falling in the last eight trading sessions. The BSE Sensex rallied 448.96 points or 0.76 per cent to settle at 59,411.08. During the day, it jumped 513.33 points or 0.87 per cent to 59,475.45.
From the Sensex pack, State Bank of India, Axis Bank, IndusInd Bank, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Maruti Suzuki, Tata Steel and Tata Motors were the major gainers. Power Grid and HDFC Bank were the laggards from the pack.
Top gainers of the session included Bajaj Auto, Kotak Bank, M&M, Vedanta, IndusInd Bank, Asian Paints, HDFC Bank, Reliance Industries, HUL, HDFC, ITC, Tata Steel and Tata Motors, rallying up to 5 per cent.
After oscillating over 486 points, the 30-share Sensex settled 38.44 points, or 0.10 per cent, lower at 39,020.39. It hit an intra-day low of 38,840.76 and a high of 39,327.15.
The total value of India's top 100 brands has increased by 2 per cent, from $162.1 billion in 2020 to $164.9 billion in 2021, according to the latest Brand Finance India 100 2021 report. This uplift in brand value over the course of the first year of the pandemic is an impressive feat given the global economic crisis following the implementation of national lockdowns in March 2020, when business activity was brought to a halt, affecting both production and consumption. Among the brands that came on the top of the list include Tata Group, Reliance Industries, and Mahindra Group.
The Sensex opened with a positive gap of 19 points at 11,326. It is now down 46 points at 11,261.
Group firms working on sound footing
As a step to protect its interest as a lender, SBI will look at the financial stability and corporate governance practices in companies where it has exposure.
The Mumbai-based brokerage has constructed India Family Firm Index out of listed companies.
What would happen to the ownership after Ratan Tata? The succession plan for the 263,862 Tata Sons promoter shares owned by seven Tata Trusts and other holdings of Tata brothers? Would a younger family member inherit?
As Tata and DoCoMo look for out-of-court settlement, here's a blow-by-blow account of the long legal tussle
Samvat 2070 was a great year for top Indian conglomerates in the stock markets.
A financial turnaround in Tata Steel and Tata Motors has come as a shot in the arm for Chandra.
The analysis is based on the free-float market capitalisation.
Analysts say Tatas could sustain their current pace of growth, provided the group's "cash cows", such as TCS and Tata Motors, continue to deliver.
The referendum will have long-term implications for Indian companies, which earn a substantial portion of revenue from the region.
The Aam Aadmi Party (AAP) has to deal with 3 powerful enemies: the media, the political establishment, and business houses.
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