Tata Group's stocks in focus: Tata Sons first board meet post Mistry ouster
DSIJ Intelligence / 17 Nov 2016
Tata Sons board will be meeting for the first time since the ouster of Cyrus Mistry as chairman Tata Sons on October 24. The board meet will take place on Thursday, November 17 in Mumbai to consider taking away proxy powers of former chairman, Cyrus Mistry linked to voting and attending shareholders' meets of Tata Group companies.
Tata Sons board will be meeting for the first time since the ouster of Cyrus Mistry as chairman Tata Sons on October 24. The board meet will take place on Thursday, November 17 in Mumbai to consider taking away proxy powers of former chairman, Cyrus Mistry linked to voting and attending shareholders' meets of Tata Group companies.
According to reports agenda of the meeting reportedly incudes discussing earnings of the group companies, overall performance and outlook.
In recent board meets of group companies like Tata Motors and The Indian Hotels the independent directors of the board have reaffirmed the faith in the erstwhile chairman, Cyrus Mistry.
Whereas, in other Tata companies like TCS and Tata Global Beverages the board has removed Mistry as the chairman of the respective companies.
Therefore, the meeting would be interesting to watch as it would decide the future of group companies and their board structures. Recently Tata Sons, the biggest shareholders in all the Tata Group listed entities have asked to convene a EGM (extra ordinary general meeting) to oust Cyrus Mistry as the chairman of the respective companies.
Tata Group stocks were trading flat on the bourses ahead of the board meet today.
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