Noel Tata explains why he's opposing listing of Tata Sons, which controls entire conglomerate

Tata Trusts Chairman Noel Tata said he fears that listing Tata Sons, the Tata Group's holding company, on the stock market would change the "Tata way". "If we have 30,000-40,000 shareholders, profit may take precedence over philanthropy. I think that'll fundamentally change the Tata way of working," Noel said. "Tata way...revolves around a single premise: charity precedes commerce," he added.