Tata group stocks fall up to 4% as N Chandrasekaran steps down as chairman

Shares of Tata Group companies came under pressure and fell by as much as 4%, after Tata Sons Chairman N Chandrasekaran resigned ahead of the conglomerate's annual general meeting (AGM) scheduled for August 18. The decline was led by Tata Consultancy Services (TCS), the group's most valuable listed company.TCS shares dropped more than 4% to Rs 2,322. Tata Motors Passenger Vehicles (TMPV) also declined 4%, while Tata Consumer Products and Tata Power were each down about 2%.Chandrasekaran's resignation marks an unexpected end to a tenure of nearly 10 years during which he reshaped India's largest business group, expanding its presence across sectors including airlines, semiconductors, electronics, batteries and digital businesses.N Chandrasekaran steps down as Tata Sons ChairmanPeople familiar with the matter told ET that the 63-year-old informed the Tata Sons board of his decision.