Shares of various Tata group companies on Thursday bounced back to close with gains of up to 3 per cent a day after an NCLAT ruling that reinstated Cyrus Mistry as chairman of Tata Sons sent the stocks down.
The stocks were under pressure during morning trade, falling by up to 2 per cent. However, buying emerged towards the close of trade. Among the gainers, TCS climbed 2.83 per cent, Tata Motors jumped 2.55 per cent, Tata Coffee rose 0.98 per cent, Tata Global Beverages 0.67 per cent, Tata Steel 0.48 per cent, Tata Metaliks 0.17 per cent, Titan Company 0.07 per cent and Tata Communications 0.01 per cent on the BSE.
In contrast, Indian Hotels fell 2.03 per cent, Tata Elxsi was down 1.40 per cent and Tata Investment Corporation declined 0.43 per cent.
Meanwhile, equity benchmarks advanced to fresh lifetime highs for the third session on the trot on Thursday. After rallying to its lifetime high of 41719.29, the Sensex settled 115.35 points, or 0.28 per cent, higher at its fresh closing record of 41673.92. The Nifty rose 38.05 points to its new peak of 12259.70.