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    Tata Sons: How Shapoorji Pallonji Mistry family checked into the group

    MUMBAI: There's an interesting story about how the Shapoorji Pallonji Mistry family checked into Tata Sons. JRD Tata's youngest brother Dorab is said to have sold his shareholding in Tata Sons to the Mistrys in a fit of anger. The entire 18.4% stake is now held equally through Sterling Investments Corp and Cyrus Investments, making the Mistry family the largest single shareholder in Tata Sons. Cyrus Investments is largely owned by Cyrus Mistry.

    Cyrus Mistry: Know all about Ratan Tata's successor

    The Mistrys are among the 10 richest families in India with a net worth of $7.6 billion (about Rs 38,000 crore), according to Forbes. They are also described as the richest family in Ireland (Pallonji Mistry and his sons are Irish nationals).

    Ties not split by rival biz interests

    E xcept group, for Forbes one & company Co, none in of the the companies in the SP Group is listed. Although the Tatas are the largest business group in India, Ratan Tata's personal Tata Sons shareholding (of less than 1%) is a fraction of that of the Mistrys.

    However, the two families have maintained cordial relations and over the years, even forged marital ties. Ratan Tata's half brother, Noel Tata is married to Pallonji's daughter , Aloo. Even in times of trouble, the Mistry family has come to the aid of the Tatas. When the Tatas wanted to divest their holding in Forbes & Company, the Mistry family stepped in.

    Even earlier, when the Tatas put their stake in ACC on the block, the Mistrys were interested , but Gujarat Ambuja made a better offer. Though the Tatas and Mistrys compete in many areas, such as housing and water purifiers , their relations have not been spoilt by business interests.

    Apart from Tata Sons, Mistry family also owns shares of Tata Investment Corp and TCS. When Mistry family acquired Tata Sons' stake, no one could have imagined that one day a Mistry family member would become chairman of the Tata Group. When Pallonji Mistry stepped down as director after retirement in 2005, he left his seat vacant for his younger son, Cyrus. While that came as a surprise for many, Wednesday's announcement of Cyrus as Ratan Tata's successor came as a bolt from the blue.
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    Tata Group stocks performance after Mistry joined

    Company NamePrice
    (Rs)
    Change
    (from 28-12-12)
    % Change
    (from 28-12-12)
    Tata Metaliks Ltd.389.50327.70530.26
    Tata Elxsi Ltd.1294.851065.30464.08
    Voltas Ltd.386.70281.60267.94
    Tata Communications Ltd.635.30398.45168.23
    Tata Sponge Iron Ltd.594.35283.9091.45
    Tata Consultancy Services Ltd.2398.701131.2089.25
    Indian Hotels Company Ltd.115.4552.3582.96
    Nelco Ltd.89.4038.0574.10
    Tata Motors Ltd.537.00226.9573.20
    Tinplate Company of India Ltd.84.1031.9561.27
    Tata Chemicals Ltd.544.65194.9555.75
    Trent Ltd.199.4071.0755.38
    Rallis India Ltd.219.7069.4546.22
    Titan Company Ltd.373.5592.4032.87
    Tata Investment Corporation Ltd.587.80124.1526.78
    TRF Ltd.278.4553.8023.95
    Tata Steel Ltd.405.45-23.10-5.39
    Tata Coffee Ltd.128.15-12.07-8.60
    Tata Global Beverages Ltd.139.95-20.50-12.78
    Tata Power Company Ltd.78.30-30.95-28.33
    Tata Teleservices (Maharashtra) Ltd.7.15-3.57-33.31

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