TATA FIRMS LOST OVER 21,000 CRORE IN M-CAP `

New Delhi, Oct. 26: Key Tata Group firms lost over `10,000 crore for the second day on Wednesday, extending the total erosion in market capitalisation to more than `21,000 crore following Cyrus Mistry’s ouster as Tata Group chairman.

These firms had lost about `10,700 crore on Tuesday.

Shares of Tata Motors dipped 4.27 per cent, Tata Steel slumped 4.01 per cent, Tata Power lost 2.06 per cent and TCS fell by 0.07 per cent on BSE on Wednesday.

Besides, Tata Metaliks slipped 3.85 per cent, Tata Elxsi dropped 3.15 per cent, Tata Global Beverages (3.10 pc), Tata Chemicals (2.83 pc), Tata Communications (2.68 pc), Tata Sponge Iron (0.57 pc) and Tata Coffee (0.42 pc).

Tata Group overall commands market capitalisation of over $125 billion (close to `8.5 lakh crore), with software giant TCS alone accounting for `4,72,301.73 crore.

In the stock market, the BSE benchmark Sensex too fell by 254.91 points to end at 27,836.51. Mistry’s family firm Shapoorji Pallonji Group has 18.4 per cent in Tata Sons — the holding firm of the group companies.

In the surprise development, the board of Tata Sons, where 66 per cent shares are held by philanthropic trusts endowed by members of the Tata family, ousted Chairman Mistry, saying it was acting “for the long-term interest” of the firm.