New Delhi:Most Tata Group stocks ended lower on Tuesday after Tata Trusts proposed merging two operating companies with the group’s holding company in a restructuring aimed at allowing Tata Sons to shed its regulatory classification as a non-banking financial company and a core investment company, potentially removing the need for a stock-market listing.

Tata Chemicals emerged as the major loser among the Tata Group stocks, with its shares declining 4.20 per cent. Among other firms of the conglomerate, Tata Investment Corporation dropped 3.10 per cent, Titan 2.72 per cent, Tata Teleservices 2.63 per cent, TCS 1.72 per cent, Tata Power 1.10 per cent, Tata Elxsi 1.53 per cent and Tata Motors Passenger Vehicles 0.72 per cent on the BSE. The proposal, announced on Monday, involves merging Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE) with Tata Sons.

The Trusts have asked the Tata Sons board to consider the plan and seek a prior no-objection certificate from the Reserve Bank of India.