Ratan Tata-led interim management of Tata Sons is seeking to oust Mistry from his positions in the operating group firms, including IHCL and Tata Motors
India's food safety regulator, FSSAI, has issued notices to five-star hotels JW Marriott and Andaz Delhi following inspections that revealed serious hygiene and food-safety violations, including cockroach infestations, expired food, poor sanitation, and improper food storage.
Tata Sons has the balance sheet to support them, for now.
Actor-politician Kangana Ranaut shared her experience during the 2008 Mumbai terror attacks, revealing that director Mahesh Bhatt was the first to alert her and her Bollywood peers while they were at a party.
In an attempt to allay concerns of the US-based hospitality chain, Indian Hotels Co Ltd vice-chairman R K Krishna Kumar, in a letter to Lovejoy, said the Tata group firm would like to engage in a constructive dialogue.
The Republic Day long weekend beginning Saturday is driving a surge in travel with hotels and resorts witnessing an increase in bookings led by high demand, reflecting a decisive shift in traveller behaviour and the rise of micro-getaways, industry players said. The increasing preference for short, experience-led holidays is emerging as a strong trend shaping the country's leisure travel market.
The Indian Hotels Company Ltd, operator of the Taj brands of hotels, on Monday formed a joint venture with Yunnan Tourism Co Ltd to develop and manage two hotels in China's Yunnan province.
Hotels are also relying on couples who had earlier planned destination weddings but are now considering options within the country.
Following the horrific terror attacks in Mumbai that have left more than 100 people dead and 300 injured, Ratan Tata, chairman Tata Sons and of Indian Hotels Co Ltd -- which owns the Taj group of hotels -- has condemned the killing of innocent people.
Ratan N Tata, chairman, Tata Sons, and chairman, Indian Hotels Co Ltd said that the terrible wanton attacks on Wednesday night on innocent people and the destruction of prominent landmarks in India deserve to be universally condemned.
Indian companies had invested $7.34 billion.
ITC's move to demerge the hotel business into a new entity, ITC Hotels Ltd, is a step in the right direction and will allay investor's concerns on the company's capital allocation strategy in the medium-to-long term, said analysts at Morgan Stanley in a note. According to the company, the board of directors has approved in principle the demerger of the hotels business, wherein ITC will hold a 40 per cent stake in the new entity, and the remaining 60 per cent will be held directly by shareholders. The scheme of arrangement shall be placed for approval of the Board at its next meeting to be convened on 14th August 2023.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
Customised restaurant recreations, cafe setups, pop-ups by Michelin-star chefs, bespoke table linens with monograms and couple-themed hashtags.
The initial public offering (IPO) lane will be busy next week, with four main-line companies, including Leela Palaces Hotels & Resorts operator Schloss Bangalore Ltd and Aegis Vopak Terminals tapping the primary market to raise over Rs 6,600 crore collectively.
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.
Another trend: A preference for coloured diamonds among brides, who are pairing them with their groom's birthstone. So, along with yellow or white diamonds, they are choosing pink, green, blue sapphires, emeralds or red rubies.
The Enforcement Directorate said on Monday that it had conducted search operations at four locations in Mumbai and Delhi as part of its money laundering investigation into an alleged Rs 4,500 crore (Rs 45 billion) fraud by Pancard Clubs Limited and others, in which more than 5 million investors have been duped.
There remains a debate on who said this: "When the facts change, I change my mind. What do you do, Sir?" Was it the British economist John Maynard Keynes or the American economist Paul Samuelson. Irrespective of who said it, this sentiment appears to have found resonance in ITC's boardroom in recent years.
Jet fuel or ATF price on Tuesday was hiked by a steep 8.5 per cent - the second increase in a month, while commercial cooking gas rate was cut by Rs 100 per cylinder in line with divergent trends in international benchmarks. Aviation turbine fuel (ATF) price was increased by 7,728.38 per kilolitre, or 8.5 per cent, in the national capital to Rs 98,508.26 per kl, according to a price notification of state-owned fuel retailers. Rates, which vary from state to state depending on the incidence of local sales tax or VAT, have been increased on firming up of global rates that followed four months of decline.
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.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ratan Tata: A Life, the much awaited biography, reveals that after a year of 'parallel running', Tata began having second thoughts about Cyrus Mistry's 'suitability'. 'Mistry targeted Ratan, the man who had elevated him from virtual oblivion into the mainstream of the Tatas...'
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tata Sons said dividend from 40-odd Tata Group firms had declined during Mistry's tenure while expenses had risen
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Few of these highly sought-after socialising and networking hubs are seeing much activity as regulars are missing in action.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
