Tata Sons IPO buzz lifts group stocks by Rs 17,200 crore

Renewed speculation around a Tata Sons initial public offering triggered a sharp rally in five group stocks, collectively adding over Rs 17,200 crore to their market capitalisation in less than an hour.

The gains followed the RBI's rejection of Tata Sons' request to surrender its Certificate of Registration and its directive for the conglomerate to comply with regulations applicable to NBFC-Upper Layer entities. Market analysts interpreted the regulatory move as potentially clearing the path for a public listing.