NCLT in its judgement said: "The removal of Cyrus Mistry as executive chairperson was because the board lost confidence and not because they were contemplating that he would cause discomfort to Ratan Tata, N Soonawala and others.' "The Board is competent to remove an executive chairman. Mr Mistry's removal from the position of director came because he admittedly sent out company information to the I-T (department), press, and came out in public against the board and the trust."
The Indian information technology (IT) industry will need to move up the value chain to tackle competition from countries like China, Philippines and Vietnam, said Ratan Tata. The Tata Consultancy Services (TCS) chairman was addressing the 15th annual general meeting (AGM) of the company.
Sixteen companies in the group registered a turnover of over $500 million, with ten of these registering a turnover of over $1 billion
During the afternoon trade, ONGC commanded a market value of over Rs 2.48 lakh crore -- the highest for any listed company in India.
Needs funds for Odisha plant expansion, to cut high debt.
The market valuation of Tata Consultancy Services (TCS) jumped Rs 31,294.89 crore to Rs 8,25,149.40 crore while Reliance Industries Limited (RIL) added Rs 28,464.11 crore to take its market valuation to Rs 11,33,168.55 crore.
All investors are value investors. Or they at least like to believe this. So let us see why VI is so difficult to achieve, even though philosophically it is easy to understand.
Tata group's IT firm TCS on Monday attained a market valuation of Rs 4 lakh crore - becoming the second company in Indian markets after Reliance Industries to cross this milestone.
Tata Power will target 10,000 micro grids across India, for which it has formed a company, TP Renewable Microgrid.
Tata Steel and Indian Hotels on Wednesday said they have always made all relevant disclosures and have no further comments to offer following comments made by ousted Tata Group chairman Cyrus Mistry that Tata group firms could face a potential USD 18 billion writedown.
In the domestic m-cap ranking, TCS was at number one position followed by RIL, HDFC Bank (Rs 666,533.49 crore), HUL (Rs 400,325.83 crore) and HDFC (Rs 378,236.52 crore).
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
Since August 9, RIL shares have gone up by over 11 per cent.
Far from public glare, company is investing in tech firms and providing consultancy.
Tata Capital, financial services arm of the Tata group has launched the 'Do Right' initiative, a campaign aimed at inspiring and inculcating the 'right' values in children from a young age.
Tata Consultancy Services, the $73 billion IT group, is India's biggest company by market value and four times the size of any other listed Tata entity
The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance. While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector. They expect this segment of the software sector to grow by 8-12 per cent going forward.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
Let's take a look at 30 companies named after people.
Designing is another critical area for him, especially in the business of furniture.
Reliance Industries lost its position of the country's most valued company to Tata group firm TCS this afternoon, as the shares of billionaire Mukesh Ambani-led corporate giant fell sharply in a weak market.
Who will replace Chandra at TCS if moves to Tata Sons?
Tata hired the best talent from across the world as he saw early on that to survive in the wake of economic liberalisation, Indian companies needed to go global and adopt best practices.
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."
After years of losing money on two of the group's biggest bets - global steel business and domestic passenger cars - there are strong signs of a revival in both businesses.
Tata Tea looks to separate itself from the crowd and reclaim its positioning as a socially responsible label with a new version of its Jaago Re campaign.
With all of the heavy lifting we have done over the past few years, I am confident that we are now well positioned to build on the Tata Group's unique legacy to steer the 21st century towards a more sustainable, connected, inclusive and efficient future: Chandra in email to staff.
Nine of the top 10 most valued companies witnessed a combined erosion of Rs 1,63,510.28 crore in market valuation last week, with Reliance Industries emerging as the biggest laggard.
The index is currently trading at 149 per cent of its historical P/B valuation, surpassing its previous peak of 125 per cent made in 2020-21.
The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years.
As the economic crisis in Sri Lanka - the world's largest exporter of orthodox tea - continues to rage across the island nation, tea producers in India look to cash in on the opportunity to seize the market. The country's largest tea growing company, McLeod Russel India, expects orders to come in from July. "A huge opportunity is coming up for everyone in India. "McLeod Russel is well placed because we have the capacity for orthodox tea," said Azam Monem, director, McLeod Russel. About 10 per cent of McLeod's production is orthodox tea.
The company said, due internal processes as applicable for sanctions of loans of such nature and value were followed
"Humble", "kind", and "spiritual" are some adjectives used to describe K Krithivasan, chief executive officer designate and global head of banking, financial services, and insurance business, Tata Consultancy Services (TCS), where he is an old stager. Krithivasan, based out of Chennai, has been part of the global technology sector for over 34 years. He joined TCS in 1989. During his long tenure at the company, he has held leadership roles in delivery, customer relationship management, large programme management, and sales.
Every move that strengthens Cyrus Mistry's position in companies like Indian Hotels could prolong the uncertainty.
The fast-growing, high-margin branded spices business is turning out to be an interesting growth opportunity, which to an extent was reflected in the Sunrise-ITC deal, with multiple parties from PE to strategic players joining the fray.
Tata Communications has elected the private equity (PE) veteran as a successor to Subodh Bhargava.
The issue will now have to be resolved through arbitration.
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
ONGC had dethroned Tata Consultancy Services from the pole position in market-valuation charts on Wednesday, but its leadership position proved to be short-lived and it slipped to the second position in today's trading session.
The company said it had extended financial support to the UK business.
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