New Delhi. Noel Tata has been appointed the new chairman of Tata Trusts after the death of Ratan Tata. After this news came, many stocks of Tata Group saw a rise on Friday. The decision to appoint Noel Tata as the chairman of Tata Trusts was taken unanimously by the board. Now Noel Tata has the leadership of the two most important charitable organizations of the group.

Noel Tata played a key role in expanding Trent from a single store to over 700 stores in 1998 and led various retail ventures of brands such as Westside, Star Bazaar, and Zudio. Today, Trent shares rose 2.94 percent to Rs 8,269.30. Noel joined the Sir Ratan Tata Trust board in 2019 and became the vice chairman of Titan Company in 2018, after which he became the vice chairman of Tata Steel in March 2022.

Impact on stocks:
Shares of Titan Company rose over 1 percent to Rs 3,491. At the time of writing, shares of Voltas rose 0.60 percent to Rs 1,787.10. Shares of Tata Steel rose 0.66 percent to close at Rs 161. Shares of Tata Investment Corporation Limited also rose 2.66 percent to Rs 7,108.30. Several other Tata Group stocks were also trading higher in a weak session. Shares of Tata Motors rose 0.27 percent to Rs 931. Shares of Tata Communications rose 0.66 percent to Rs 1,966.45. Shares of Tata Consumer Products Limited rose 0.38 percent to Rs 1,117.15.

Currently, Noel
serves as the chairman and non-executive director of Tata International Limited and holds important positions on the boards of Trent, Voltas, Tata Investment Corporation, Tata Steel, and Titan Company Limited. Sir Dorabji Tata Trust and Sir Ratan Tata Trust are the major shareholders of Tata Sons, owning about 52 percent stake in the company.