INSUBCONTINENT EXCLUSIVE:
Shares of Tata Group companies declined substantially from their highs on Wednesday after an appeals court passed the ruling on ousted
chairman Cyrus Mistry.
The Tata Motors ADR was trading 2.51 per cent lower at $12.45 at 7 pm
The Tata Motors stock, which was trading higher on NSE, declined 5.3 per cent from its intraday high to close at Rs 174.80, down 3 per cent
The Tata Steel stock declined 2.5 per cent from the intraday high to close at Rs 444.75, 1.22 per cent higher.
The Indian Hotels stock
declined 2.88 per cent to close at Rs 145.20 while shares of Tata Chemicals and Tata Power fell 2 per cent and 1 per cent, respectively.
The
J Mukhopadhaya pronounced its judgment on the matter
The tribunal had reserved its order earlier in July this year, after completing a marathon hearing on the issue.
Earlier, the Mumbai bench
of the National Company Law Tribunal (NCLT) had dismissed the petitions filed by the two investment firms, Cyrus Investments and Sterling
Later, Mistry also personally approached the NCLAT over the NCLT order
