Shares of various Tata group stocks, including Tata Power and Tata Motors, plunged sharply this morning amid concerns about purported disclosure made by ousted group chairman Cyrus Mistry about huge write-down risks at some firms.
Tata Motors and Tata Power were down nearly three per cent each, while Tata Steel was trading nearly 2 per cent down in the early morning trade on the BSE.
Indian Hotels and Tata Tele were down more than 7 per cent each.
Tata Chemicals, Tata Coffee, Tata Global Beverages, Tata Investment Corp, Tata Steel and TCS were also trading with losses.
Stock exchanges had late last night sought clarifications from select Tata companies on reports about Mistry listing out possible write-down risks to the tune of $18 billion, while the group stocks have been losing value amid concerns over sudden ouster of Mistry as chairman of Tata Sons, the main holding firm for the group companies.
SEBI and stock exchanges are keeping a close tab on the share movement and trading volumes of all listed companies of the group.