Tata Group stocks fell up to 4% on Wednesday after Reuters reported that Tata Sons Chairman N. Chandrasekaran had resigned, sparking a selloff across the conglomerate's listed companies.
India's top IT services exporter, Tata Consultancy Services (TCS.NS), led the losses, sliding 4.1%, while Jaguar Land Rover-parent Tata Motors PV (TAMO.NS) fell 2.8%.
Chandrasekaran has resigned as chairman of Tata Sons but will serve out his current term, Reuters reported on Wednesday, citing a source with direct knowledge of the matter.
