Tata Chemicals slides as Noel Tata criticizes RBI listing rule
Business
Tata Chemicals's stock slid over 2% as Noel Tata pushed back against the Reserve Bank of India's rule that could force Tata Sons to go public.
Noel warned that listing might change how Tata Sons operates and could hurt the charitable work supported by Tata Trusts.
Tata Chemicals shares hit ₹738.25
Tata Chemicals owns a small stake in Tata Sons, so its share price took a hit, falling to ₹738.25, while bigger companies like Tata Steel.
The debate highlights worries that listing could bring short-term market drama and distract from the long-term goals and philanthropy that have shaped the group's legacy.