Tata Stocks Tumble on Chairman's Exit Rumors

Indian stock markets experienced a decline for the second consecutive session, with the Nifty falling below the 24,450 mark. This downturn was significantly influenced by selling pressure in Tata Group stocks, triggered by the announcement that N Chandrasekaran will not seek reappointment as Tata Sons chairman beyond his current term ending February 2027. IT and FMCG sectors also saw downward movement, contrasting with gains in PSU banks and metal stocks.

Adding to market concerns, India's retail inflation, measured by the CPI, rose to 4.45% in July 2026 from 4.38% in June. This increase is attributed to higher energy prices stemming from the Middle East conflict and pressure on the rupee. Despite this uptick, inflation remains within the Reserve Bank of India's acceptable range of 2% to 6%.

Key economic indicators showed Brent crude settling at $88.80 a barrel, and the Indian rupee trading marginally lower against the dollar at 95.3425. Gold futures saw a slight increase. In global markets, European shares edged higher in anticipation of US inflation data, while Asian markets also showed gains as investors awaited clues on potential interest rate movements.

Several stocks were in focus, including Marksans Pharma, which reported a strong Q1 FY27 performance with a 173.9% YoY increase in PAT. Conversely, Godrej Consumer Products tumbled after its MD & CEO resigned. IPOs from Shiprocket, Behari Lal Engineering, Milky Mist Diary Food, Dhoot Transmission, and Molbio Diagnostics saw varying subscription levels as of August 12, 2026.