Mumbai: Shares of Tata Group companies rallied by as much as 15% Thursday following the demise of Ratan Tata, Chairman Emeritus of Tata Sons, on Wednesday.Tata Investment Corporation, TRF, Tata Teleservices (Maharashtra), Tata Chemicals, Automobile Corporation of Goa, Tata Elxsi, Tejas Networks, Nelco, Automotive Stampings & Assemblies, Tata Technologies, Tata Power Company, Rallis India, and Indian Hotels Company gained between 3% and 15% on Thursday."The passing of the veteran industrialist has undoubtedly saddened many, and the market will feel the loss," said Raamdeo Agrawal, chairman of Motilal Oswal Financial Services. "However, investors have responded with optimism, reflecting their confidence in the Tata Group's future and its unwavering commitment to the principles and values upheld by Ratan Tata."Shares of Tata Investment Corporation surged 15% intraday before closing 6% higher. TRF shares gained 10% during the day and ended up 6.3%. Tata Chemicals shares, which rose as much as 8%, ended 5% higher."Under his guidance, the Tata Group has become synonymous with trust and excellence, paving the way for a more sustainable future," said Anand Rathi, chairman of the Anand Rathi Group. "I had the privilege of meeting him several times in the past alongside Late Shri Aditya Birla."114133063Tata Consultancy Services, the flagship company of the Tata Group, went public during Ratan Tata's tenure as chairman of Tata Sons. The company, which debuted in 2004 with a valuation of ₹47,232 crore, is now valued at ₹15.3 lakh crore, making it the second most valuable company in India."One of the most underappreciated facts is the immense wealth Ratan Tata has created for investors," investor Ramesh Damani told ET Now.Tata Group's market capitalisation has increased by ₹5.41 lakh crore so far this year, reflecting a growth of 19.3%, compared to India's overall market capitalisation gain of 25.4%.
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