Shares of various Tata group companies, including Trent Ltd, Tata Chemicals, and Tata Investment Corporation, surged nearly 4% on Friday following the appointment of Noel Tata as the new chairman of Tata Trusts. The decision was made during a board meeting held in Mumbai, just days after the passing of Ratan Tata, Noel’s half-brother and the former chairman of the Tata Group, who died on October 9 at the age of 86.
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Trent Ltd, which Noel Tata has chaired since 2014, saw its stock price increase by over 3%, reaching an intraday high of Rs 8,308.8 per share, a rise of 3.48% from its previous close. Over the past decade, Trent’s shares have skyrocketed by nearly 6,000%, highlighting its significant growth in the apparel retail sector.
Noel Tata’s leadership is expected to further enhance the company’s expansion, as Trent continues to grow its store network and workforce. The company is recognized as one of the most successful entities within the Tata Group in recent years.
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In addition to his role at Trent, Noel Tata serves on the boards of other listed Tata companies, including Tata Steel and Voltas. On October 11, Tata Steel’s shares reached an intraday high of Rs 163.78, climbing 2.54% during the session.
Voltas also saw an uptick, with shares trading at Rs 1,786.50, reflecting a 0.55% increase. Similarly, Tata Investment Corporation shares advanced by 2.12% to Rs 1,175.60, gaining 10.53% over the past four days, while Tata Chemicals hit an intraday high of Rs 1,185, rising nearly 3%.
