Options Traders Keep Faith in Tata Stocks Despite Board Turmoil
- No impact seen on individual group companies: OPC Asset
- Stock declines are an opportunity to buy: Vachana Investments
Tata Turmoil: Chairman Cyrus Mistry Ousted
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Options traders are confident that the ouster of Tata Group Chairman Cyrus Mistry won’t have a long-term impact on India’s $100 billion salt-to-steel business empire, convinced that the individual companies are in stable hands.
Stocks of some of the conglomerate’s largest members, including Tata Consultancy Services Ltd., Tata Motors Ltd. and Tata Steel Ltd., are hovering above the so-called stability level, signaling bullishness, according to Bloomberg’s option dashboard. That’s even after the shares declined by as much as 4 percent.