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    Shares of Tata companies, except TCS and Titan, gains after NCLT rejects Mistry plea

    Shares of Tata companies, except TCS and Titan, gains after NCLT rejects Mistry plea

    Shares of Tata companies, except TCS and Titan, gains after NCLT rejects Mistry plea
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    By Jomy Pullokaran   IST (Updated)

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    Shares of various Tata companies listed at the National Stock Exchange (NSE) went up, except those of Tata Consultancy Services and Titan, after the National Company Law Tribunal (NCLT) on Monday dismissed the plea of Cyrus Mistry challenging his removal as chairman of Tata Sons.

    Shares of various Tata companies listed at the National Stock Exchange (NSE) closed the day on a positive note, except those of Tata Consultancy Services (TCS) and Titan, after the National Company Law Tribunal (NCLT) on Monday dismissed the plea of Cyrus Mistry challenging his removal as chairman of Tata Sons.
    Tata Motors scrip rose 2.30% to Rs 273.15, while Tata Steel shares climbed 1.80% to Rs 555.30.
    Tata Communications and Tata Chemicals shares climbed 11.40% to Rs 602 and 9.70% to Rs 711.95.
    Tata Power shares were up 1.80% to Rs 73.55; Tata Global Beverages scrip rose 9% to 275.30 and Indian Hotels Company shares climbed 0.30% to Rs 127.45.
    However, TCS shares fell over 28.75% at Rs 1,884.20 and Titan Company shares declined 9.65% at Rs 820.
    The NSE Nifty 50 ended the day at 10,852.90 points, rising 0.74%.
    Mistry was removed as the Tata Sons board and majority of its members lost confidence in him, the NCLT Mumbai's main bench of B S V Prakash Kumar and V Nallasenapathy said in a judgement.
    The tribunal said it was not accepting Mistry's contentions that his removal was due to the result of mismanagement by the board and oppression of minority shareholders of the group.
    Read the complete coverage of Tata Sons-Mistry feud.
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