What financial dailies say this morning about the Tata shocker

Moneycontrol BureauFollowing Cyrus Mistry's shocking ouster as Tata Sons' Chairman yesterday, the media went on an overdrive reporting on the possible reasons -- and ramifications - of the dramatic development. And one reason which has been doing the rounds is Ratan Tata's displeasure with Mistry's way of functioning. While speculation is rife, and legal eagles are thrashing out the contours of an impending courtroom battle, here are what the various financial newspapers have reported this morning.Business StandardAlthoght no one was sure when the decision to replace Mistry was taken, it is believed returning to the helm wasn't Ratan Tata's first choice, say sources.Some believe that it could take at least seven to eight months for the selection panel to find the next Chairman and that Ratan Tata's interim reign could possibly be extended beyond four months.The newspaper quoting experts reported that Mistry perhaps lacked the necessary 'experience' to  handle a large conglomerate such as the Tata Sons.Key stocks under focus will be Tata Power, Tata Tele (Maharashtra), and Tata Global Beverages. All these stocks have given up 1-8 percent of their market cap.The Economic TimesSources reveal Mistry wasn't consulted on the appointments made to the board of Tata Sons in August. Apparently, the board was in vendetta mood, reports the paper, as Mistry had cleared Tata Power's buyout of Welspun's solar farms without shareholders' approval.Tata Trusts were also reportedly not in agreement with some of Mistry's decisions including the sale of the urea business of Tata Chemicals, sale of a few of Indian Hotels' overseas assets and the move to wind up UK steel operations.According to the newspaper, the names that are being spoken aloud as a possible replacement for Mistry are Indra Nooyi of PepsiCo, former CEO of Vodafone Arun Sarin, and TCS CEO N Chandrasekaran.MintThe paper quotes a month-old article in The Economist calling the development 'prescient'. The Economist article had said that it would be a tad difficult for Mistry to come into his own in a company that still bears the Tata name on it.The market capitalisation of the listed companies within the Tata Group has seen a huge 75 percent rise since the time Mistry took over as Chairman.Analysts and experts, reports the paper, feel that four years is too short a time to judge Mistry's performance.While Ratan Tata was all about aggressive buyouts, Mistry will be remembered for his thrust on divestments, reports the paper.