Tata Sons is a large shareholder in a string of listed Tata Group companies - a business empire ranging from Jaguar Land Rover cars and steel mills to aviation and salt pans. The board said in a statement on Monday it was decided "it may be appropriate to consider a change for the long-term interest of Tata Sons and Tata group." Surprise moveMistry's shock exit took many by surprise, though analysts and investors saw Ratan Tata's appointment as interim chair as a way to ease concerns. "The impact will be a little softer with Ratan Tata taking over," Gaurang Shah, analyst at Geojit BNP Paribas, told BTVi television. Since stepping down as chairman in 2012, Ratan Tata has pursued venture capital investments in ride-hailing firm Ola, e-commerce firm Snapdeal and payment solution provider Paytm.

Source: bd News24 October 24, 2016 18:11 UTC