TCS Is Tata's Best Performer, And Cyrus Mistry Owns Rs 1,000 Crore In TCS Shares!
Cyrus Mistry, the ousted chairman of Tata Sons, holds nearly Rs 1,000-crore worth of stocks of Tata
Cyrus Mistry, the ousted chairman of Tata Sons, holds nearly Rs 1,000-crore worth of stocks of Tata Consultancy Services (TCS), the crown jewel within the Tata Group, the software major's annual report showed. Mistry also holds small stakes in other group companies ¡ª Tata Motors, Indian Hotels, Tata Global, Tata Chemicals and Tata Power ¡ª company filings showed. He's still the chairman of all these and some other group companies.
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The stocks owned by Mistry is in addition to the 18.5% stake that his family, Shapoorji Pallonji (SP) Group, holds in Tata Sons, the Tata Group's holding company. Going by the value of stakes held by Tata Sons in the group's listed entities, and calculating SP group's stake on a pro-rata basis, the worth of SP Group's holding on November 1 was Rs 81,140 crore.
Reuters
Of this, SP Group's stake in TCS itself is worth Rs 63,158 crore, that is more than three-fourths of the total value. Other companies which contribute substantially to the value of holding by Mistry's family in Tata Sons are Tata Motors (Rs 7,983 crore), Tata Communications (Rs 1,500 crore), Tata Steel (Rs 2,279 crore), Titan (Rs 1,281 crore) and Tata Power (Rs 1,234 crore).
Other than direct holding in 15 listed companies, Tata Sons has indirect control over several other listed companies in which it holds stakes through group companies. For example, Indian Hotels holds controlling stake in Oriental Hotels and Benares Hotels, while Tata Steel controls Tata Sponge Iron and Tata Chemicals holds majority stake in Rallis India.
AmbitionBox
Tata Group also holds majority stakes in several unlisted companies through Tata Sons, which have not been valued. These include Tata Teleservices, IPO-bound Tata Sky, Tata AIA Life Insurance, Tata AIG General Insurance, Tata Mutual Fund and Infiniti Retail, the owners of Croma retail chain.
Also Read: In Letter To Board, Cyrus Mistry Reveals How TATA Will Lose Without Him
