Tata Group shares traded mixed after the group holding firm, Tata Sons, on Wednesday, named Mr Cyrus Pallonji Mistry as the successor to Tata Group Chairman, Mr Ratan Tata.
Shares of Tata Steel tumbled 2.53 per cent at 11.50 a.m. IST to Rs 372.85 after sliding to a 52-week low of Rs 367.20 in the early trade.
The other major losers are: Tata Communications (down 1.16 per cent), Tata Sponge Iron (down 2.16 per cent), CMC (0.64 per cent), TCS (down 0.85 per cent), Tata Motors (down 0.86 per cent), Tata Metaliks (down 0.93 per cent), Tata Chemicals (down 0.15 per cent), Tata Teleservices (Maharashtra) (down 1.41 per cent), Indian Hotels (0.52 per cent) and Nelco (1.71 per cent).
However, Tata Elxsi (0.59 per cent), Tata Coffee (0.26 per cent), Voltas (0.42 per cent), Tata Global Beverages (1.48 per cent), Rallis India (0.1 per cent) and Tata Power Company (0.22 per cent), edged higher.
The BSE Sensex was down about 175 points.