Tata Sons said dividend from 40-odd Tata Group firms had declined during Mistry's tenure while expenses had risen
Tata Group-owned Air India shaved off its losses by 60 per cent to Rs 4,444.10 crore in FY24 over the previous year, according to the Tata Sons annual report for 2023-24. The airline had reported a loss of Rs 11,387.96 crore in FY23, the annual report said.
Bombay House is different from any other conglomerate's headquarters. While every visitor is frisked at the entrance of the colonial-era building, one should not be surprised to see a street dog stroll in nonchalantly. For decades, specific instructions have been issued to the staff to allow a free entry and exit for the strays who may want to come in.
Tata Sons has made Tata Investments its subsidiary by acquiring around 55 per cent stake in the company.
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The RBI has accepted the application withdrawal request, according to the 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.
Shares of Tata Group companies on Thursday rose up to 10 per cent, with Tata Chemicals and Tata Teleservices among the major gainers. Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday. He was 86. "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.
Tata Motors reported a consolidated net profit of Rs 17,483 crore (adjusted for exceptional gains and losses) for Q4FY24, surpassing TCS' consolidated net earnings of Rs 12,434 crore. For the automotive major, this marked a 213.7 per cent year-on-year increase in the bottom line, from Rs 5,573.8 crore a year ago. In contrast, India's biggest IT firm saw a more modest Y-o-Y growth of 9.1 per cent in net profit, from Rs 11,392 crore.
The Board has decided to confer on Ratan Tata the honorary title of Chairman Emeritus.
The ordinance will be tabled in the next session of the legislature, it said, adding that 27 posts were approved for the commission.
"I mentioned to sir (Ratan Tata) that the son of a fellow army officer was handicapped below the waist and needed a job," he told PTI from Pune where he now lives. "Vijay Bisht, son of my then colleague in M&G area HQ Lt Col B S Bisht, had sustained severe leg injuries after falling from a horse and I came to know he was looking for a job," he added. Tata said the needful would be done. And it was.
Gurgaon-based mmt admin (commonly known as MakeMyTrip) has been using the domain name 'oktatabyebye.com'. Tata Sons has contended that it is confusingly similar to its 'Tata' brand and the travel portal runner has no rights or legitimate interests to use it. In May, Tata Sons had moved the Geneva-based WIPO Arbitration and Mediation Center demanding transfer of disputed domain name.
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
In a December 2012 interview, Ratan Tata, then preparing to step down as chairman of Tata Sons, expressed doubts about the Tata group re-entering the aviation sector, calling it a space plagued by "destructive competition". But beneath that frustration lay nearly two decades of failed attempts to conquer the Indian skies. In 1994, Tata, along with Singapore Airlines, had plans to launch a joint venture (JV) airline in India.
'It is notable how humble he was and didn't want anything different just because he was a Tata.'
Earnings primarily from dividends received from group firms and sale of shares.
A financial turnaround in Tata Steel and Tata Motors has come as a shot in the arm for Chandra.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
Tata Electronics on Saturday began the construction of its Rs 27,000-crore chip assembly plant in Assam, which is expected to become operational next year and create 27,000 jobs initially. The plant will produce 4.83 crore chips per day using indigenously-developed technologies. The plant's Bhumi Pujan (foundation stone laying) ceremony was held at the project site at Jagiroad in Morigaon district in the presence of Assam Chief Minister Himanta Biswa Sarma and Tata Sons Chairman N Chandrasekaran.
TCS's mcap crossed $100 billion in 2018, 13.5 years after the IPO. It took only four more years to double its mcap to $200 billion.
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Since the early 1970s, the Tatas have presence in the city-state.
For the past few days, Tata had been admitted to the Breach Candy Hospital in south Mumbai.
Funds will be raised via non-cumulative preference shares issued to Tata Sons on rights basis
At TCS, Chandrasekaran would be succeeded by Rajesh Gopinathan, currently the company's chief financial officer.
'The people of India have shown immense faith in the Tata group as they have never broken the trust of Indians.'
'He was a practical person who ensured that he thought about the common man, animals, the fact that they have a life and they have to be respected.'
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.
Provisioning for bad investments, finance costs shoot up in FY14.
Here stood a man who embodied the legacy of whatever Brand Tata stood for, embellished it, and departed into the long night, leaving the brand legacy for others to further enrich, notes R Gopalakrishnan.
Have You met Mr Tata, interacted with him? If you have, we would love to hear from you. Please mail your memories of your encounter with Mr Tata, complete with the date of the meeting, your full name, where you are based, what you do. And if you have a photograph of yourself with Mr Tata, please mail that too. Do mail your recollections to ReadersWriteIn@rediffmail.com
Tata group has been a constant in India's sporting landscape and the conglomerate's involvement only grew under Ratan Tata.
Half a dozen names are doing the rounds as replacement for Cyrus Mistry as the chairman of the Tata Group.
The infusion will help the airlines plan their next rounds of operations as easing of 5/20 norms
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