Tata group stocks recover lost ground after 3 days of fall

\ New Delhi, Oct 28 (PTI) Tata group stocks today bounced\back after three days of continuous decline, closing the day\with up to 6 per cent gains on buying at lower levels.\ Shares of Tata Motors rose by 2.68 per cent and Tata\Steel went up by 1.85 per cent on BSE.\ Tata Metaliks soared 5.86 per cent, Tata Elxsi surged\4.20 per cent, Tata Teleservices (3.93 pc), Tata Coffee (2.02\pc), Tata Communications (1.35 pc), Tata Investment\Corporation (1.32 pc), Tata Global Beverages (1.20 pc) and\Tata Chemicals (0.87 pc).\ Tata Power Company and TCS however ended in the red down\1.38 per cent and 0.58 per cent respectively.\ \\"The auspicious festival season coupled with value-buying\in Tata group stocks, persuaded the market to make a small\comeback after a slew of corrections,\\" said Vinod Nair, Head\of Research, Geojit BNP Paribas Financial Services Ltd.\ The group stocks saw total market value erosion to over\Rs 26,000 crore in the past three days amid concerns over\sudden ouster of Cyrus Mistry as chairman of Tata Sons, the\main holding firm for the group companies.\ These stocks had also lost ground on worries about the\purported disclosure made by Mistry about huge write-down\risks at some firms.\ Tata Steel and Indian Hotels yesterday said they have\always made all relevant disclosures and have no further\comments to offer following the comments made by Mistry that\Tata group firms could face a potential USD 18 billion\write-down.\ The Sensex ended at 27,941.51, up 25.61 points. PTI SUM\SA\