The Tata Steel Group has extended substantial financial support to the UK business and suffered asset impairment of more than 2 billion pounds in the last 5 years.
As India's online population crosses 450 million, e-commerce ventures are trying to grab a pie of online sales estimated to hit $48 billion by 2020.
The probe has been settled through consent proceedings, an out-of-court like settlement under which Rs 500,000 have been paid towards settlement charges.
Interrupting a two-month streak of decline, outward foreign direct investment (FDI) rose sequentially to $1.85 billion in July over $1.07 billion in June, an increase of 73 per cent. However, it was lower than the $2.18 billion in July last year, according to the Reserve Bank of India data. Outbound FDI, expressed as financial commitment, has three components - equity, loans, and guarantees.
'We do not see people getting reduced, but because of automation, we will do more work.'
Liquidity crisis and demand slowdown has forced Tata Steel, the country's largest steel maker, to put brakes on its greenfield projects in Jharkhand and Chhattisgarh.
Once Bhushan Steel is into its fold, Tata Steel will increase its capacity from 12.7 million tonnes per annum (mtpa) to 18.3 mtpa
Among Sensex shares, Bajaj Finserve, ICICI Bank, Bharti Airtel, Bajaj Finance, Sun Pharma, Maruti Suzuki, ITC, and Nestle were the lead gainers. On the other hand, L&T Wipro, IndusInd Bank and TCS and Tata Motors were the lead losers.
The company is in a financial storm, as its biggest investment, on the 4,000 Mw Mundra Ultra Mega Power Project (UMPP) didn't go according to the script.
Tata Housing, a unit of Tata Sons, is advancing its plans to build 15,000 low-cost dwelling units by two years. Besides, it should add 300 more houses in its Mumbai project to take the advantage of demand for such homes, a top company official said.Tata Housing had earlier planned to develop 1,000 houses under the brand 'Shubh Griha' in Bhoisar, a distant suburb of Mumbai, priced at Rs 3.9-6.7 lakh.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
India's largest private sector power producer, Tata Power Company, has called off its plan to sell 15 per cent stake in two special purpose vehicles (SPVs) owning coal mines in Indonesia to private equity (PE) firm Olympus Capital for $300 million (Rs1,392 crore).
New products being designed mainly for auto, oil & gas sectors; firm is raising Kalinganagar plant capacity from three mtpa to eight mtpa
The S&P BSE Sensex and the Nifty50 have hit record highs amid the poll outcome-triggered bull frenzy at the bourses. Most analysts feel that the indices are on course to rise further over the next few months - till the general elections - albeit amid intermittent corrections - largely triggered by global developments. Bharatiya Janata Party's (BJP's) win in the three state elections of Madhya Pradesh (MP), Rajasthan and Chhattisgarh, analysts at Jefferies believe, reinforces the consensus expectations of a Modi win 2024 national elections with a greater likelihood of over 300 seats for the BJP.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
17 MLAs of the TDP were suspended from the assembly for disrupting CM Jagan Mohan Reddy's address on the Andhra Pradesh Decentralisation and Inclusive Development of All Regions Bill, 2020.
With a modest workforce of 1,200, the 2007 start-up is already taking business from its bigger, established rivals, winning outsourcing contracts from leading US mortgage companies.
The private sector's new project announcements in the quarter ending March were among the highest on record. The value of new private sector project announcements for the three months ending March 2024 was Rs 9.8 trillion, shows data from tracker Centre for Monitoring Indian Economy (CMIE). This is the second-highest on record in data going back to 2009.
Quarterly earnings, global trends and trading activity of foreign investors will drive stock markets in this holiday-shortened week, analysts said. It will be a trading holiday on January 22, with the Maharashtra government announcing a holiday in connection with the consecration of the Ram Temple in Ayodhya. Equity markets would also remain closed on Friday for Republic Day.
'The deal pipeline across products is robust for 2024.'
Refusing to be drawn into a point by point clarification of Mistry's letter, the company said: "It will be beneath the dignity of Tata Sons to engage in a public spat with regard to the several unfounded allegations appearing in his leaked confidential statement."
The scheme has a maturity of three years when it will automatically be converted into an open-ended scheme, a release said in Mumbai on Monday.
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The RBI has accepted the application withdrawal request, according to the statement.
Tata Finance Ltd is seeking members' approval to increase authorised share capital and issue redeemable preference shares for Rs 2000 million on a private placement basis.
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Files related to the organisation of a public hearing for environment and forest clearance for Tata Steel's proposed 5-million-tonne integrated steel plant in Bastar are "missing". The district administration said it has not received the documents that were sent from the state capital a month ago.
Tata Motors has seen strong upgrades in volume, top line and profit estimates, after reporting an unexpectedly superlative quarterly global volume performance for Jaguar Land Rover (JLR). It was led by strong demand for the Evoque SUV from the Land Rover stable.
With its nominees on the board, Tata Sons will have the controlling stake of 51%.
His presence matters more than the money he brings.
The much-awaited foray of IDBI in housing finance is to fructify shortly with Tata Finance Ltd deciding to sell its entire stake in Tata Homefinance Ltd to the financial institution for an undisclosed amount.\n\n\n\n
The Tata empire turns 150 this year. R Gopalakrishnan, former director, Tata Sons Ltd, imagines a conversation among the group's founder Jamsetji, his son Dorabji, his successor, Nowroji Saklatwala, and his successor, J R D Tata.
It is not clear at this stage whether Tata will take up the government's offer of taking a 25 per cent stake in the business.
The Delhi government has made it clear that the experiment will not be extended beyond January 15.
A bleak demand outlook for steel in the domestic as well as global market is also another reason Tata Steel may be looking to have additional liquidity as margins are expected to take a hit in the coming quarters.
The venture is applying to the Reserve Bank of India for approvals.
Shares of low-cost airline IndiGo hit record high on the bourses soon after reports of pilot crisis at Vistara emerged. The development also saw airfares surge by around 25 per cent on select routes. Shares of IndiGo hit a lifetime high of ~3,68.5 on April 2, 2024, and has gained 2.4 per cent on the bourses in April.
Call it a coincidence - as Ratan Tata was preparing to hand over the baton of Tata Sons to Cyrus Mistry, Sebi banned Dilip Pendse, former MD of the erstwhile Tata Finance from the capital market for a period of two years.
Tata has invested in over 10 start-ups in personal capacity.
