Trent shares rally over 3% after Noel Tata appointed Chairman of Tata Trusts

Shares of Trent surged 3.4% to Rs 8,309 in Friday’s trade on BSE after Noel Tata appointed as the chairman of Tata Group’s philanthropic arm Tata Trusts, succeeding his half-brother Ratan who died on Wednesday aged 86. Noel Tata also serves as the chairman of Trent.

With this appointment, Noel has become the 11th chairman of the Sir Dorabji Tata Trust and the sixth chairman of the Sir Ratan Tata Trust.

Noel Tata, the son of Naval H. Tata and Simone N. Tata, has been closely associated with the Tata Group for over four decades. He has held numerous leadership positions across various Tata companies, including Trent, Voltas, and Tata Investment Corporation. He is also the Vice Chairman of Tata Steel and Titan Company Limited.

As Ratan Tata had not named a successor before his death, the boards of Tata Trusts needed to appoint a new chairman from among the existing trustees. The two trusts, Sir Dorabji Tata Trust and Sir Ratan Tata Trust, hold a 66% stake in Tata Sons, the holding company for the Tata Group.

Noel Tata’s leadership experience extends to Trent Limited, where he served as Managing Director and led its expansion from a single store in 1998 to over 700 stores today. He holds a degree from Sussex University (UK) and has completed the International Executive Programme (IEP) at INSEAD.

Under his stewardship, Trent has evolved significantly, now managing various brands including Westside, Star Bazaar, and Zudio, in addition to global brands like Zara and Massimo Dutti. The company recorded a consolidated revenue of Rs 12,669 crore for FY24. In 2010, Noel joined Tata International, where he served until 2021, and currently, he maintains crucial roles within the Tata Group.At 2:05 pm, Trent shares were 2.9% higher at Rs 8,265 on BSE. Trent is a multibagger stock, which delivered 175% returns year-to-date, while it has rallied nearly 500% in the past two years.