Tata stocks fall after chairman Mistry ousted

• Eastern Eye Staff
• 25 October, 2016

By: Eastern Eye Staff

Shares in Tata Sons companies fell in early trade on Tuesday (25) after India’s biggest conglomerate shocked the Indian business world and abruptly sacked its chairman Cyrus Mistry. In a statement Tata Sons, the holding company of the massive $100 billion (£82 billion) Tata Group, said Monday (24) its board had voted to replace Mistry, four years after he became its first chief from outside the immediate Tata family. It added that 78-year-old Ratan Tata, one of India’s most famous industrialists, would return to the helm of the company until a successor is found, which would likely to take four…

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