India's Tata group shares rise after reports of fresh term for Chair Chandrasekaran

Shares of several Tata group companies in India gained on Thursday, with Tata Investment Corp leading the advance. Business Recorder reported that the moves followed media reports that Tata Sons had signed off a new five-year tenure for N. Chandrasekaran, who leads the group as executive chairman. Gains ranged from 0.15% to 5%, with Tata Motors Passenger Vehicles up 5% and Tata Motors climbing 3%.

IT major TCS gave back part of an intraday rise of as much as 3%, and was last trading 0.2% higher. Reuters, citing a source, said the approval reverses Chandrasekaran's earlier decision last month not to seek another term, and his current tenure runs until February 2027. Tata Sons had not replied when Reuters asked for comment.

Fident Asset Management's Aishvarya Dadheech said the rally reflected faith in steady leadership, a factor that could aid the group's value-unlocking plans. The comment linked the share moves to confidence in continuity at the top.