Trent, Tata Chemicals, Tata Investment Corp rise over 3% on Noel Tata's appointment as new Tata Trusts chairman

Since 2014, Noel Tata has served as the chairman of Trent Ltd., the Tata Group's highly successful apparel retail business

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Shares of Tata group stocks Trent Ltd, Tata Chemicals, Tata Investment Corporation among others rose nearly 4 percent on Friday after Noel Tata, half-brother of late Ratan Tata, was appointed as next chairman of Tata Trusts.

The 67-year-old Noel was chosen to lead the trusts, which collectively own Tata Sons, in a board meeting on Friday in Mumbai. The former Tata Group chairman Ratan Tata passed away on October 9 evening aged 86.

Shares of the retail business run by Noel Tata, Trent Ltd, jumped over 3 percent in today's trading session. The stock touched an intraday high of Rs 8,308.8 per share on the NSE, rising 3.48 percent from its previous close.

Since 2014, Noel Tata has served as the chairman of Trent Ltd., the Tata Group's highly successful apparel retail business. Over the past decade, the company's shares have skyrocketed by nearly 6,000 percent, according to the BSE data.

The company has continued to expand its store network and workforce and remains one of the most successful Tata Group companies in recent years.

Additionally, Noel is also on the boards of several listed Tata firms, including Tata Steel Ltd. and Voltas Ltd.

Tata Steel shares touched an intraday high of Rs 163.78 apiece on the NSE, up 2.54 percent. Its shares have been gaining for the last two days and has risen 1.26 percent. At the time of publishing, the stock was trading at Rs 160.60 per share, rising 0.55 percent.

Voltas too was up in October 11 trade to quote at Rs 1,786.50 per share on the NSE, up 0.55 percent.

Tata Investment Corporation and Tata Chemicals were up too.

Tata Investment Corp share advanced 2.12 percent to quote at Rs 1,175.60 per share on the NSE. The stock has been gaining for the last four days and has risen 10.53 percent in the period, while Tata Chemicals hit an intraday high of Rs 1185 apiece, rising nearly 3 percent on the NSE. The scrip has been on up move for the last four days and has risen 9.21 percent in the period.

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