Tata Group stocks saw wild swings this week as multiple developments linked to the much-awaited Tata Sons IPO kept investors on the edge. The stocks sharply surged up to 20% on Tuesday after RBI rejected Tata Sons’ application for voluntary surrender of its Certificate of Registration (CoR) to be classified as an unregistered Core Investment Company (CIC), paving the way for a public listing of the holding company of India’s largest business conglomerate.
The Tata Group stocks saw another sharp surge on Thursday after Tata Sons approved a fresh five-year extension for Chairman N Chandrasekaran’s tenure and set the ball rolling for the much-awaited IPO of the group holding company. The shares of the Tata Group companies dropped on Friday after Tata Trusts labelled Chandrasekaran's appointment illegal.
