TCS, Tata Chemicals, other group stocks zoom up to 14% on Tata Sons IPO nod, N Chandra’s term extension

Tata Sons board approved a five-year extension for N Chandrasekaran as chairman as the holding company prepares for a long-awaited IPO. Tata group stocks surged sharply, with Tata Chemicals jumping 14 percent to Rs 832, Tata Investment Corporation rising 6 percent to Rs 720, and TCS gaining over 3 percent, alongside gains in Tata Motors PV, Tata Elxsi, Tata Tech, and Tata Steel. The move follows the RBI rejecting Tata Sons application to surrender its Core Investment Company registration, clearing the path for a public listing of Indias largest conglomerates holding arm.