Shapoorji Pallonji Group Stocks Surge Up to 20% as Tata Sons Listing Gets Back in Focus
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Shapoorji Pallonji Stocks Today: Afcons Infrastructure and Forbes & Company hit 20% upper circuits, and Gokak Textiles rose 10%, after RBI rejected Tata Sons' bid to surrender its NBFC registration, pushing the conglomerate's holding company toward a mandatory listing. Shapoorji Pallonji Group holds about 18.5% of Tata Sons.
Shares of Afcons Infrastructure surged 20% to ₹304.55 on Tuesday, hitting the upper circuit, as stocks linked to the Shapoorji Pallonji Group rallied after the Reserve Bank of India rejected Tata Sons’ request to surrender its NBFC registration.
The RBI’s decision has renewed expectations that Tata Sons, the holding company of the Tata Group, could eventually be required to list on the stock exchanges. The development is significant for the Shapoorji Pallonji Group, which owns around 18.5% of Tata Sons and has been pushing for a listing to unlock the value of its holding.
Afcons Infrastructure, the flagship infrastructure engineering and construction company of the SP Group, was among the biggest gainers in the group. The stock later pared some of its gains but remained sharply higher, trading around ₹299.40, up 18%, on the NSE. More than 13 million shares changed hands across the NSE and BSE during the first 25 minutes of trading.
Forbes & Company also jumped as much as 20% to ₹331, while Gokak Textiles gained 10% to ₹64.35, hitting its upper circuit. Sterling and Wilson Renewable Energy was up around 1%.
Why Afcons Infrastructure Stock Is Rising Today
The rally followed the RBI’s rejection of Tata Sons’ March 2024 application seeking deregistration as a core investment company.
Tata Sons is classified as an upper-layer NBFC under RBI regulations. Companies falling into this category are subject to a mandatory listing requirement, making the regulator’s decision important for the long-running debate over Tata Sons’ public listing.
The SP Group has been seeking a listing of Tata Sons for several years. Its roughly 18.5% stake makes the outcome particularly important for the group, which has been looking for ways to unlock value from its investment.
The RBI decision also lifted several Tata Group stocks on Tuesday. Tata Chemicals rose 20%, while Tata Investment gained 10%. Tata Motors Passenger Vehicles and Tata Consultancy Services also moved higher.
A Tata Sons listing could potentially provide greater visibility into the value of its investments and allow shareholders to monetise their holdings. Tata Sons owns stakes across several listed Tata companies and has exposure to businesses including Tata Motors, Tata Steel, Tata Consultancy Services and Air India.
Tata Sons' standalone assets stood at ₹1.75 lakh crore as of March 2025. The company has remained unlisted despite being the central holding entity of the Tata Group.
For Afcons Infrastructure, Tuesday’s sharp move comes after a period of weakness in the stock. The RBI development has therefore brought renewed buying interest into companies associated with the SP Group.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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