The shares of two listed companies of Shapoorji Pallonji Group — Forbes & Company and Sterling and Wilson — extended losses in choppy trade on Monday, a day after the untimely death of Cyrus Mistry, the younger son of Pallonji Mistry, the head of the Shapoorji Pallonji (SP) Group.
Shares of Forbes & Company Ltd fell as much as 4.6 percent to trade at Rs 718.1 on Monday. The stock was trading 4.5 percent down at Rs 720 on BSE at the time of writing.
Shares of Sterling and Wilson Renewable Energy Ltd fell as much as 1.8 percent to Rs 297.35. The stock was trading 0.2 percent lower at Rs 302.25 on BSE at the time of writing.
The former chairman of Tata Sons, Cyrus Mistry, died in a road accident over a bridge near the Surya river in Palghar's Charoti area, which is around 135km away from Mumbai on Sunday.
In 1991, Cyrus was appointed director of Shapoorji Pallonji Group. Tata Sons' board of directors appointed him to replace his father in 2006. In November 2011, Cyrus became the Deputy Chairman of Tata, and in 2012, he became the Chairman of Tata Sons, succeeding Ratan Tata. In 2016, he was ousted, disagreement with a family member of the Tata Group regarding business strategy being one of the primary reasons.
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