Stocks

Shapoorji Pallonji Group companies sparkle on parting from Tata Group

Internet Desk | Updated on September 23, 2020 Published on September 23, 2020

Cyrus Mistry

Shares of Shapoorji Pallonji Group companies are surging in Wednesday's session after it had announced its separation from the Tata Group.

On September 22, the company had announced: "mutual co-existence of both groups at Tata Sons would be infeasible... and separation from the Tata group is necessary".

 

The groups have been in a protracted legal battle since Cyrus Mistry was ousted as the Chairman of Tata Sons in 2016.

 

The Tatas, in turn, have accused Mistry of dragging several group companies into losses.

Shares of Sterling & Wilson Solar gained nearly 20 per cent and currently trades at ₹229 up 17 per cent while Forbes & Co is locked in upper circuit of 5 per cent at ₹1,484.15.

 

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Published on September 23, 2020
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