The Nifty India Corporate Group Index - Tata Group 25% Cap, which tracks 10 listed Tata Group companies, declined as much as 0.5% to hit an intraday low of 14,445.40 on Tuesday. According to reports from Moneycontrol, at around 12:18 PM, the index stood at 14,467.30, down by 46.70 points or 0.32%. The index has gained 3% over the month but lost 4% in the past six months, with a 6% decline on a year-to-date basis. This decline occurred amid mixed market performance, with the broader Sensex closing 171.72 points lower at 77,369.11 and the Nifty 50 ending at 24,219.05 after initially recovering from early losses.
Out of the index's 10 constituents, nine declined while only one advanced at the time of writing. Among the top losers, Tata Steel shares dropped by as much as 1.5% to hit an intraday low of ₹183.50 on the National Stock Exchange (NSE), trading 1.22% lower at ₹184.03 per equity share. Indian Hotels Company Ltd (IHCL) fell as much as 0.5% to touch the session's low of ₹724.55, trading 0.36% lower at ₹726.30 per share. TCS shares declined nearly 1% to ₹2,262.20 as investors analyzed the impact of the IT services major's acquisition plans. The mixed performance across sectors reflected broader market uncertainty, with technology and metal stocks providing some support while financial stocks faced pressure.
According to a regulatory filing, Tata Steel received an order from the Revisional Authority, Ministry of Coal, regarding a tax demand of ₹1,755.11 crore that it had received. The company had received the tax demand notice dated March 30, 2026, from the District Mining Office, Ramgarh, Jharkhand on April 3, 2026. The DMO made the tax demand alleging excess extraction of approximately 1.62 crore metric tons of mineral coal from the company's West Bokaro Colliery beyond permissible limits during FY 2000-01 to FY 2006-07 period. On August 24, Tata Steel received the order stating that its revision application was admitted for consideration, with respondents directed not to take coercive steps during the pendency of the revision application.
In a regulatory filing dated August 24, Indian Hotels Company Ltd (IHCL) announced that Oriental Hotels will be merged with it through a scheme of arrangement. According to the filing, Oriental Hotels Limited is an associate company of IHCL, and the announcement means OHL will be absorbed into IHCL through a Scheme of Arrangement, subject to regulatory and shareholder approvals.
According to an exchange filing on Monday, August 24, TCS' board of directors approved the acquisition of a full stake in MHP Management—und IT—Beratung GmbH, a subsidiary of Porsche AG, for an enterprise value of €320 million. As reported by Moneycontrol, the acquisition aims to anchor a long-term artificial intelligence (AI) transformation deal, with Porsche having signed a five-year strategic deal with MHP and TCS amounting to €1.25 billion. However, the proposed partnership and acquisition remain subject to regulatory approvals, requiring approval from the European Commission under the EU Merger Regulation and the EU Foreign Subsidies Regulation.
