12 Aug , 2026 By : Debdeep Gupta
TCS, Titan, among other Tata Group stocks came under sharp selling pressure on Wednesday after Tata Sons chairman N Chandrasekaran tendered his resignation, early morning today. Although, he will complete his term and not seek re-appointment.
The selling also came amid broader weakness in the equity markets, with higher crude oil prices weighing on investor sentiment.
Tata stocks were among the top Nifty losers with India's top software services exporter Tata Consultancy Services (TCS) falling almost 5 percent following Chandrasekaran tendering his resignation. The stock quoted at Rs 2,336.90 per share on the NSE, down 4.55 percent, at around 11:05 a.m.
It was followed by Tata Consumer Products, which was down 1.6 percent, while Titan Company shed 1.3 percent.
Tata Steel and Indian Hotels Company dropped 1.13 percent and 1.04 perent, respectively.
Tata Technologies, Tata Investment Corporation and Tata Motors Passenger Vehicles fell up to 1 percent.
Tata Sons in February postponed a decision on reappointing Chandrasekaran as chairman after Noel Tata, chairman of the group's charity arm Tata Trusts, opposed the move, Reuters has previously reported.
Chandrasekaran joined the Tata group in 1987, became TCS' CEO in 2009 before taking over as Tata Sons chair in 2017.
According to reports, Chandrasekaran had earlier discussed with close associates the possibility of stepping down ahead of an August 18 annual general meeting where Tata Sons shareholders are set to vote on his reappointment.
Meanwhile, at around 11:15 am, the Sensex was down 541.12 points or 0.69 percent at 77,613.13, and the Nifty was down 168.20 points or 0.69 percent at 24,303.50.
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