At around 12.54 PM, Tata Chemicals was trading at Rs320.20 per piece down 1.66%. However, Tata Metaliks was worst hit and was trading at Rs508.80 per piece below 2.49%.
Tata stocks which traded in the red also included - Tata Power at Rs51.80 per piece down 0.67%, Tata Steel at Rs396.30 per piece below 1.23%, Tata Motors at Rs130.45 per piece lower by 1.06%, Titan at Rs1166 per piece down 0.98%, Tata Consumer Products at Rs490.05 per piece below 0.22% and Tata Coffee at Rs100.05 per piece down 1.48%.
On the other hand, Tata Communications at Rs922.50 per piece was unaffected from the development and surged by 3.62%. Tata Elxsi also soared by 1.57% and was trading at Rs1532.40 per piece.
However, Tata Consultancy Services (TCS) was trading at Rs2636 per piece flat compared to the previous closing. TCS is the major revenue provider to the Group and is also the largest company in terms of market share after Reliance Industries.
The Mistry-backed group had proposed to the apex court, about a swap of its entire holding in the group holding company for equivalent shares in listed firms of Tata Group.
Also, SP Group has proposed a pro-rata share of Tata brand value payable in cash or listed securities.
Further, for unlisted companies of Tata Group, the Mistry's group had proposed for independent valuation which is also sought to be paid in cash or listed securities.
Last month, the Tata and Mistry feud took a new turn, with SP Group deciding to exit from a 70-year-old partnership in Tata Sons.
Tata Sons is the parent company of all the listed companies of Tata. Notably, Pallonji Group is the largest minority shareholder in Tata Sons.
At present, Tata Sons' stake alone has 70% of its entire group's valuation in TCS. Further, the parent's 15% stake is accounted for Tata brand value which apparently comes from the superior financial performance of group firms such as TCS, Titan, and Tata Consumer Products.
The Mistry family pegs to sell entire 18.37% stake held in Tata Sons.