In the season of aviation action, Rakesh Jhunjhunwala-backed Akasa Air has secured the crucial no-objection certificate (NoC) from the civil aviation ministry. It expects to start operations next summer. The airline will now have to apply for the Directorate General of Civil Aviation for operations permit. Aviation sector has been in the limelight with the Tata Group winning the Air India bid last week.
The Supreme Court has said that Cyrus Mistry's removal as executive chairman of Tata group was justified as a "a person who tries to set his own house on fire for not getting what he perceives as legitimately due to him, does not deserve to continue as part of any decision-making body".
Mistry indeed followed standards of corporate governance so that it should not create any controversies at a later date
The top hashtag in India was #COVID19, as the country grappled with the deadly second wave of the pandemic.
The Tata group has proposed to acquire more than 60 per cent stake in online grocery platform BigBasket, according to a filing, as the conglomerate seeks to expand in the fast-growing e-commerce space. The group plans to buy up to 64.3 per cent stake in Supermarket Grocery Supplies Pvt Ltd (SGS) through a combination of primary and secondary acquisitions, a filing with the Competition Commission of India (CCI) showed. The parties to the proposed deal are Tata Digital Ltd (TDL), SGS and Innovative Retail Concepts Pvt Ltd (IRC) -- which is engaged in B2C (Business to Consumer) sales through www.bigbasket.com and related mobile applications.
The donation by Tata Sons and Trusts is the biggest sum committed by a corporate and its philanthropic arm since the outbreak of Covid-19. Others, including Reliance Foundation, Mahindra Group, Bajaj Group, and ITC, are lending support too in the battle against the pandemic.
While the brand was accused of 'defacing' the Hindu festival of Diwali by naming its festive collection as Jashn-e-Riwaaz (celebration of tradition), the company insisted that it is not a Diwali collection, which will be soon launched under 'Jhilmil si Diwali' promo.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
The construction of the Ram Temple complex in Ayodhya, including the main structure, is estimated to cost around Rs 1,100 crore and is expected to be completed in three-and-a-half years, said the treasurer of the trust overseeing the project on Monday.
Re-rating of Bharat Petroleum Corporation, Container Corporation, Shipping Corporation, SAIL, and Hindustan Copper, for which the government has already shown intent to divest its stake, possible now, say analysts.
With the new owner shelling out Rs 18,000 crore for the buyout of 'Maharaja' this would be the highest ever amount garnered through privatisation or even the cumulative sum garnered through strategic sale in 1999-00 to 2003-04. The government had garnered roughly over Rs 5,000 crore during that five-year period by privatising 10 CPSEs.
Days after the disbanding of Group Executive Council set up by Tata Sons ousted chairman Cyrus Mistry, N S Rajan and Nirmalya Kumar have resigned from their respective board positions at Indian Hotels Company and Tata Chemicals.
Tata Group overall commands market capitalisation of over $125 billion
HR Guru Mayank Rautela offers practical advice.
Insurer likely to support Ratan Tata; reduction in stake might have been profit booking.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
Forced out of India due to the rising COVID-19 case count in the country, the IPL will allow unlimited COVID-19 replacements considering the delicate health safety situation across the globe.
The 2019 list shows a 37 per cent jump in brand value for the Tata group, to $19.55 billion for 2019, the highest in the top 25.
A court in Canada has ordered the seizure of amounts collected by the International Air Transport Association (IATA) on behalf of Air India and the Airports Authority of India (AAI). Separate orders were passed on November 24 and December 21 on pleas by shareholders of Devas Multimedia Private Limited who have filed multiple petitions to enforce arbitration awards against the Indian government. According to a Devas spokesperson, more than $30 million has been seized to date under the IATA action.
The firm is on course to replace state-owned Gail India in the widely-followed index during the semi-annual review set for March.
With a net worth of $12.6 billion, Mistry is well known for constructing some of Mumbai's landmarks such as the Reserve Bank of India headquarters, The Taj Mahal Palace and Towers, and the Oberoi Hotels
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 Tata Group has close to 110 companies and Chandrasekaran plans to bring this number down to around five or six.
At TCS, Chandrasekaran would be succeeded by Rajesh Gopinathan, currently the company's chief financial officer.
'Investors with as little as Rs 1 can start investing in digital gold.'
In the second quarter, attrition for the IT firm hit an all-time low of 8.9 per cent, a fall of 120 basis points on quarter-on-quarter basis.
Recently, world headlines buzzed with Elon Musk's announcement that he was shelving his audacious bid for social media platform Twitter. Away from the media spotlight, questions are being asked about the maverick billionaire's plans in India, too. A few days ago, a Reuters report said Musk's flagship Tesla had put on hold its plan to launch electric cars in India.
Leading FMCG companies in the country are expecting their sales growth numbers in high double digit in the April-June quarter, a period when the broader market was severely impacted by the second wave of the COVID-19 pandemic. FMCG companies such as Godrej Consumer Products Ltd (GCPL) and Marico, in their quarterly updates to bourses, informed about double-digit sales growth. While Tata Consumer Products Ltd (TCPL) MD and CEO Sunil D'Souza in an interview had told PTI, the Tata Group FMCG firm expects higher growth in the Q1/FY'22 over Q4/FY'21.
Together with its share buyback worth Rs 16,000 crore completed in January this year, TCS shareholders will receive a record Rs 30,250 crore from their company in FY21.
In absence of hard facts, the group risks losing public trust, says the firm, which has investment from the Tatas
HR Guru Mayank Rautela offers practical advice.
The Defence Ministry on Friday inked a nearly Rs 20,000 crore contract with Airbus Defence and Space of Spain to procure 56 C-295 medium transport aircraft which will replace Avro-748 planes of the Indian Air Force.
The government has initiated the process for inviting financial bids for the sale of national carrier Air India and the deal is likely to conclude by September, sources said. Salt-to-software conglomerate Tata Group was among the "multiple" entities that had put in preliminary bids for buying loss-making Air India in December last year. The sources said that after analysing the preliminary bids, eligible bidders were given access to the Virtual Data Room (VDR) of Air India, following which investors' queries were answered.
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
The timeline for disinvestment of Air India and Bharat Petroleum Corporation (BPCL) may be pushed by two to three months due to impact of the second Covid-19 wave. However, the government is confident of wrapping up the sale of the two companies by FY22 and meeting the disinvestment target of Rs 1.75 trillion. This will be achieved by sale of government stake in core and non-core public sector undertakings (PSUs).
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
HR Guru Mayank Rautela offers practical advice.
The attack followed a scuffle as the ousted chairman Cyrus Mistry arrived to chair the board meeting of Indian Hotels
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