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Tata Group firms shed $4 billion in market value amid holding company rift
Shares of India’s Tata Group companies lost $4 billion in market value on Friday, as investors reacted to heightened uncertainty over the potential listing and leadership of holding company Tata Sons, following a public dispute. The selloff followed Tata Sons’ decision on Thursday to reappoint Chairman N. Chandrasekaran for five years and move towards complying with RBI rules that could require a listing, despite opposition from its 66% shareholder, Tata Trusts. The moves deepened a dispute over governance and succession, raising concerns about capital allocation, leadership uncertainty and th...
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