Tata Steel's UK operations, which have largely been a struggle since the acquisition, are expected to turn earnings before interest, tax, depreciation, and amortisation (Ebitda)-positive this financial year (2025-26/FY26) and possibly profitable by the next. Responding to shareholder queries at Tata Steel's annual general meeting, Tata group chairman N Chandrasekaran said, "We expect the UK to perform much better this year compared to last year - it will definitely be Ebitda-positive."
After steering the company for 21 years, Tata will pass on the leadership baton to his successor designate and present deputy chairman of Tata Sons, Cyrus Mistry in December, when Tata turns 75.
The idea is to create a start-up-like activity with a small business unit.
The company said it had extended financial support to the UK business.
Tata Steel has a technical tie-up with Nippon Corporation for automotive steel production. Nippon is also helping plan the layout of its proposed steel plant at Kalinga Nagar.
No one is saying the steel industry is out of trouble. The financial crunch continues, and coupled with high cost of input, severely affected the first-quarter profits of steel companies. But most agree with Tata that the signals are encouraging.
This was a man who like Buddha transformed himself into achieving the impossible and being an inspiration for many generations to come, says business thinker Mudit Jain.
'It is notable how humble he was and didn't want anything different just because he was a Tata.'
IPOs have been the flavour of the season for some time. But the coming together of three mega IPOs, from diverse businesses and historic relevance, could tell a story that's still in the making, points out Nivedita Mookerji.
Amid suggestions aplenty, including from a former Tata Group veteran to choose someone from within the Tata family to head the conglomerate, incumbent chairman Ratan Tata on Friday said only the best would succeed him.
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
Tata Sons chairman Ratan Tata on Tuesday said that further investments in West Bengal would be made when there is a "feeling to satisfy that there is no hostility against us".
'Ratan had the quality that JRD and Russi Mody had -- they could walk with kings and never lose the common touch.'
There were certainly qualities adhering to the Tata Group, which emanated from the persona of Ratan Tata. Most notable of these would be the low profile he maintained, which sharply contrasted the in-your-face celebrity status, celebration of wealth and pursuit of importance many of liberalised India's rich, love, notes Shyam G Menon.
To me he always symbolised the sincere, confident, face of a Bharat whose rise is unstoppable. Ratan Tata was a Rishi who was unquestioningly trusted by people who never saw him and never met him, asserts Tarun Vijay, the former BJP MP.
On Mody's death, Tata on Friday said, "Russi Mody was an institution at Tata Steel. Under his leadership, the company grew significantly and he instituted many human resource initiatives.
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
74 of these fatalities were reported by 8 companies: Coal India (21), L&T (14), Vedanta (13, of which Hindustan Zinc reported 7), Tata Steel (7), Power Grid Corporation of India (7), JSW Steel (6), and ONGC (6).
Sunil Bhaskaran, AirAsia India's chief executive officer (CEO) and managing director (MD), is the front-runner to head the low-cost carrier that will take birth after the merger of Air India Express and AirAsia India, sources said. In a show of confidence, the airline's board extended Bhaskaran's tenure by three years -- until March 2025 -- in a meeting held earlier this year, according to the documents reviewed by Business Standard. Moreover, AirAsia India's board of directors has increased Bhaskaran's salary twice in 2022 -- first in January by 5 per cent and then in June by 7 per cent, the documents showed.
In 2006-07, TCS had employed 7,000 people in the eastern states.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
'He wanted to learn all the time.'
'Cyrus was always very different. He would think before acting.'
Raamdeo Agrawal, joint managing director at Motilal Oswal Financial Services, tells Sheetal Agarwal key trends in this earnings season and investment themes in Indian markets.
Most Asian markets ended with gains.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
Asked if Ganguly would be cornered at the meeting, he laughed and cited an example.
BSE Healthcare, Oil & Gas, Consumer Durable, TECk, Power and Metal indices declined between 0.5-1%.
When it comes to key hands-on management positions, India Inc is still largely run by men.
The institute's incubation cell claims the start up mortality rate in the incubators are lowest.
Apart from around 40 Japanese companies and five global vendors of MG Motor India, many other biggies are eyeing Gujarat for either greenfield opportunities or brownfield expansion.
These projects are targeted at financially well-off and upwardly mobile Indians.
According to a confidential government paper seen by Reuters, several states want to do away with obtaining landowners' consent altogether in some cases and to cut through red tape which they say holds up development.
'Make in India' will be central to Mr Modi's visit to Europe and Canada. It is difficult to predict what will happen with the Rafale deal, but if it goes through, it will undoubtedly become the 'Mother' of all 'Make in India' projects,' says Claude Arpi.
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