Tata Group shares fall amid investor selloff over IPO buzz
Business
Tata Group shares slid on Wednesday after a recent surge, with investors cashing out amid growing IPO buzz.
Tata Investment Corporation dropped 7%, and Tata Chemicals dipped almost 6% before bouncing back a bit.
Big names like Tata Motors, Tata Steel, and even TCS were not spared from the dip.
RBI tells Tata Sons retain registration
The chatter started after the Reserve Bank of India told Tata Sons it has to stick to financial company rules instead of letting go of its Certificate of Registration, a move that has got everyone guessing about a possible mega-IPO (which experts say could be worth ₹9-12.5 lakh crore).
While most Tata stocks fell, Trent Limited actually went up by 1.57%, showing just how mixed investor reactions are right now.