New Delhi, Aug. 14 -- Under N. Chandrasekaran's leadership, the Tata Group embarked on a period of aggressive capital allocation and balance sheet deleveraging. Beyond impressive market cap growth, a significant shift unfolded in the ownership of Tata companies between March 2017 and June 2026.

According to a Mint analysis of Ace Equity data, domestic mutual funds built a formidable presence in core IT and telecom, foreign portfolio investors (FPIs) rotated into consumer businesses, and retail investors heavily backed turnaround stories.

While most of the Tata group stocks have significant retail shareholdings, a defining trend of N. Chandrasekaran's tenure was the growing clout of domestic mutual funds. Backed by steady systematic inve...