Sharp differences have surfaced between the Tatas and the government over handling of surplus land of their joint venture VSNL, as also who would be liable to pay stamp duty for transfer of property to a new entity 'Hemisphere' being created for the
The JV TACO Sasken Automotive Electronics has been called off and over 100 people working for the JV have been asked to quit. In January 2007, Sasken and Tata AutoComp Systems had formed the JV with a focus on automotive electronics products in the areas of telematics, infotainment and occupant convenience. However sources say that even two years after its formation, the JV could hardly make any progress.
Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
Sebi ruled that Pendse has violated various provisions of the PFUTP Regulations and the Securities Contracts Regulation Act with his illegal transactions.
"We will start our GSM services soon. We have got spectrum in 13 circles in one or two months. We expect to get spectrum in all the circles barring one or two," TTSL managing director Anil Sardana said. RCom has launched GSM services in 11,000 towns, which would be extended to 22,000 towns in the next few months.
According to data from the Telecom Regulatory Authoroty of India, the total number of GSM subscribers of RCom at the end of September was 41.2 million, while the CDMA base was 55.28 million.
Tata Steel and Anil Ambani-led& Reliance Communications raised $1.375 billion through overseas borrowings and convertible bonds in September, according to data released by the Reserve Bank of India. Tata Steel, which early this year acquired Anglo-Dutch firm Corus to become the sixth-largest maker of the alloy, raised $875 million for overseas acquisition through foreign currency convertible bonds.
The United States-based communication services provider Avaya International will pick up to 25 per cent stake in Tata Telecom following clearance from the Foreign Investment Promotion Board.
The Tata group has begun its second innings with Air India from a war zone. Being first up in Operation Ganga to evacuate Indian nationals from Ukraine, the salt-to-software conglomerate has faced a real war. But the fire-fighting that the group experienced in appointing a chief executive officer (CEO) for the airline that it acquired from the government in a Rs 18,000-crore deal recently may have felt no less.
Under the deal that gives Fusion Automotive exclusive marketing and distribution rights within the country, it will first start with a range of commercial vehicles in the fourth quarter of 2013, according to media reports.
Air India's pilot unions on Monday alleged that working conditions are hostile at the airline and sought Tata group chairman N Chandrasekaran's intervention to resolve the issues. Tata group took control of loss-making Air India in January this year. The two pilot unions -- IPG and ICPA -- claimed that despite its unflinching support extended to Air India in its growth and expansion plan, the management has not reciprocated in the same manner.
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
Full service carrier Vistara will hike salaries of its pilots and cabin crew by up to 8 per cent from April amid deployment of higher capacities to meet rising travel demand, according to a source. The source also claimed that some 30 pilots have quit the airline in the last six months and are serving notice period after getting job offers mainly from the Gulf carriers. On Thursday, a senior Vistara official confirmed the salary hike for the pilots and cabin crew but denied that 30 pilots have left the airline.
The exchange cited issues with its telecom service providers that prevented stocks and index quotations from getting updated.
In a LinkedIn post on Wednesday, February 15, night, Nipun Aggarwal had said Air India, in addition to the order of 470 planes, had the option to purchase 370 aircraft from Airbus and Boeing.
'When a Project Director is appointed, the whole organization -- including the Chairman ISRO -- works for his success. It is a lesson that has been of abiding value all through the other projects I have worked on,' recalls the late President, one of the earliest pioneers at ISRO.
Software major Tata Consultancy Services on Wednesday reported a 14.8 per cent rise in net income to Rs 11,392 crore for the fourth quarter of last fiscal against Rs 9,959 crore in the year-ago period. The country's largest technology services company by market value said its revenue rose 16.9 per cent to Rs 59,162 crore during the reporting season from Rs 50,591 crore a year ago.
RCom and Tata Teleservices are the top net losers of subscribers under mobile number portability (MNP) services.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
Adani Enterprises' proposed Rs 20,000 crore (Rs 200 billion) fundraising via fresh issue of equity shares through a public offer would be the fourth biggest by Indian companies, excluding banks and non-banking financial companies.
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
Strong macroeconomic headwinds causing turbulence in the $245-billion Indian IT industry are yet to calm down. Top Indian IT services companies are likely to post a decline or just marginal growth in sequential revenue in Q1FY24 because of a soft discretionary spending environment. Though the first quarter is seasonally strong for IT firms, "June 2023 will be an exception", according to analysts at Kotak Institutional Equities.
MCX Stock Exchange on Tuesday said it has received approval from capital markets regulator.
The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been capped in certain segments.
Tata companies perform well while major firms in emerging markets do badly.
The government has cleared the lone bid of Airbus-TATA consortium for replacing Indian Air Force's fleet of ageing Avro transport aircraft for Rs 11,930 crore besides approving Russia's offer to build Kamov Ka-226T helicopters under 'Make in India' initiative.
The lower yield is better for property landlords as it indicates an appreciation in the capital value of the property, says Raghavendra Kamath.
Private equity investments into domestic companies fell sharply year-on-year by 42 per cent to $23.3 billion in 2022, which is the lowest since 2019, when it was $15.8 billion, according to an industry report. The numbers reflect the overall funding winter that the startup space in particular, and the overall foreign investments in general have been witnessing since the Ukraine war began last February. Private equity investment inflows into the country fell by a sharp 42 per cent in 2022 from last year to $23.3 billion -- the lowest annual inflows since 2019 when it was a low $15.8 billion, but still relatively elevated compared to historical levels, said Elaine Tan, a senior analyst at Refinitiv, the LSEG business arm that provides financial markets data and insights.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The global semiconductor shortage is turning into a headache for automotive (auto) and appliance manufacturers. But it is proving to be a boon for equity investors. Semiconductor stocks are among the best performers this year. The PHLX Semiconductor Index has gained more than 35 per cent year-to-date.
The poor deployment of WLATMs has tripped what the central bank sought to achieve back in 2012.
Start-ups Zomato, PB Fintech, One97 Communications, and FSN E-Commerce Ventures have entered the large-cap category after the latest reclassification exercise by the Association of Mutual funds in India (Amfi). This comes despite stocks such as PB Fintech (Policybazaar) and One 97 Communication (Paytm) trading below their issue price. Others such as Mindtree, SRF, IRCTC, Tata Power, JSW Energy have been moved from mid-cap to large-cap category.
'And if the United States, at that time, perceives India to have welched on the deal, not been our friend, when we did so much to make it a friend, that's trouble.'
