Ratan Tata, chairman emeritus of Indian conglomerate Tata Group, said on Monday that he was undergoing age-related medical investigations and that rumours circulating about his health were unfounded.

Shares of Tata Group companies dropped sharply on Monday following news of Ratan Tata's hospitalisation early in the day. However, shortly after the reports surfaced, Tata clarified that he was undergoing routine medical check-ups and assured the public that there was no cause for concern.

Ratan Tata, the former chairman of Tata Sons, reassured his followers on Instagram that he's fine after rumors of his hospitalization for low blood pressure spread. He clarified that he is undergoing routine medical check-ups.

Ratan Tata has issued a written note to clarify the status of his health. The note says that he is aware of the ‘rumours’ circulating about his health. He has called these claims unfounded and has expressed that he is currently undergoing medical checkups due to ill health.

Reports started doing rounds on social media that the industrialist is 'critical and had to be immediately admitted to the ICU'.

Ratan Tata said that health rumors about him are unfounded and he is undergoing routine medical check-ups due to age-related conditions.