The Mumbai headquartered company also overtook Japanese carmaker Honda to occupy the fourth spot in domestic passenger vehicle market.
Although it has not announced the price bookings, sources say it could be in thousands.
The company agrees to discussions for long-product division with Swiss group Klesch.
Among the Sensex firms, ITC, Tata Consultancy Services, Wipro, Asian Paints, HCL Technologies, HDFC, Kotak Mahindra Bank, Bajaj Finance, Infosys, Sun Pharma, Hindustan Unilever, Power Grid, Reliance Industries and HDFC Bank were the winners. HCL Technologies climbed 1 per cent after the company on Thursday posted a 10.85 per cent increase in consolidated net profit to Rs 3,983 crore for the fourth quarter of 2022-23. Tech Mahindra, Maruti, Tata Steel, UltraTech Cement, Tata Motors and ICICI Bank were among the laggards.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
Mergers and acquisitions (M&As) in India are expected to stay buoyant, seen over the last three-four years, despite a slowdown in the first seven months of the calendar year. "M&A is a lumpy business activity, and we may suddenly see large deals taking place during the next two quarters of the calendar year. "This would help maintain the streak of strong M&A activity.
The retail arm of the Tatas is closing stores in its loss-making value fashion format, Fashion Yatra, and is reworking its operations in Sisley brand.
India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
Ratan Tata has acquired a stake in Chinese handset maker Xiaomi, the first investment by any Indian in the smartphone maker.
The IT major is followed by RIL (Rs 795,628.55 crore), HDFC Bank (Rs 624,362.11 crore), Hindustan Unilever (Rs 367,880.69 crore) and ITC (Rs 367,513.78 crore).
Docomo has now moved the London Court of Arbitration.
India's largest private conglomerate is looking to integrate some of its smaller businesses with their respective flagship companies, with a view to leveraging the value of the entities and increase cost efficiency.
Among the Sensex firms, ICICI Bank and SBI led the index with the maximum gains of 4.68 per cent and 3.99 per cent, respectively. Other major gainers were Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank. On the other hand, Wipro and Tata Motors defied the trend and traded in negative.
The price movement and trading volumes for few days prior to Mistry's ouster will also be looked into
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Worth Rs 210,024 cr, it is Rs 1,100 cr shy of combined Rs 211,186 cr value of Tata Motors and M&M
Rakesh Jhunjhunwala has picked up a 1.29 per cent stake in Tata Motors. The September quarter shareholding pattern disclosed by the automaker showed Jhunjhunwala holding 40 million shares.
Tata has emerged as a major venture capital investor since his retirement.
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
Without exception, the top four majors beat Street estimates across all parameters - revenues, profitability, or net profit growth. However, what stood out were the large deal wins reported by the big two, TCS and Infosys.
At TCS, Chandrasekaran would be succeeded by Rajesh Gopinathan, currently the company's chief financial officer.
The one common theme across companies that have rewarded shareholders is consumption.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
While the entry of 62-year-old Noel Tata, half brother of Ratan Tata, into Tata Trusts is being seen as a significant departure from the past within the salt-to-software conglomerate, Jehangir, a long-standing philanthropist is expected to add heft to Tata Trusts.
The company's planned capex for 2019-2020, which was Rs 12,000 crore, has now been revised down to around Rs 8,000 crore.
A financial turnaround in Tata Steel and Tata Motors has come as a shot in the arm for Chandra.
'I am confident that TCS's best years are ahead,' outgoing CEO tells staff in farewell email.
The notices from the stock exchanges followed reports about Cyrus Mistry disclosing possible writedown to the tune of $18 billion faced by the conglomerate
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.
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
Banks, the biggest component of the Indian equity market, are now trading at a big discount to the benchmark indicesThe BSE Bankex index, which tracks the share price of the 10 top listed banks, is trading at a trailing price to earnings (P/E) multiple of 15.3X, nearly a 40 per cent discount to the BSE Sensex current P/E of 24.37X. This is the biggest valuation gap between the two indices in at least 10 years. Similarly, the BSE Bankex price to book ratio (P/B) of 2.22X is 40 per cent lower than the current Sensex P/B ratio of 3.61X.
"After sinking in Rs 6,000-7,000 crore in the Nano till date, what is the result?"
Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for $37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing. Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India. In a regulatory filing to stock exchange Bursa Malaysia, AirAsia said, "The board of directors of AirAsia wishes to announce that its wholly-owned subsidiary AAIL and Tata Sons Pvt Ltd, India, on December 29, entered into a share purchase agreement."
Find out why Tata Sons pledged 11 million shares in Tata Motors, 10 million in Tata Steel and and 15 million in Tata Consultancy Services with Centralbank Financial Services Ltd.
India is well positioned to lead the global transitions of digital and artificial intelligence, energy, value supply chains, and the country's growth journey will shape the world's future, B20 India chair N Chandrasekaran said on Friday. In his address to the B20 Summit India 2023, Chandrasekaran, who is also the chairman of Tata Sons, asserted that India stands as a beacon of growth and positively stands out in the global economy, which is facing strong headwinds, tightest rate cycle in decades and record levels of public debt. "The world is currently navigating through three important fundamental transitions.
Over the past two years, Tata has invested in over 20 start-ups
Bombay House turns evangelist for new Tata products.
'Why should we disclose classified information to satisfy those who doubt our Hydrogen Bomb capability?'
The company believes there is a shift in consumer demand, more buyers could opt for Skoda in future
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