Cyrus Mistry Tata - Market Reaction
Tata makes cars from the $73,700 Jaguar XJ to the $2,800 Nano, produces steel, salt and grows tea served at the Tata- owned Boston Ritz Carlton. The group accounts for almost 5 percent of India’s gross domestic product.
Tata Steel Ltd. (TATA), which acquired Corus Steel for $12.8 billion in India’s biggest overseas acquisition in 2007, fell 2.3 percent to 382.65 rupees in Mumbai yesterday. Tata Consultancy Services Ltd. (TCS), the group’s biggest unit by market value, dropped 1.8 percent to 1,062.30 rupees, while Tata Motors Ltd., which owns the Jaguar and Land Rover brands, lost 2.4 percent.
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