Tata Sons Private Limited, the holding company of the Tata group, witnessed a precipitous drop in its net debt to Rs 5,656 crore in the 10 months ended January this year, as its cash reserves burgeoned to Rs 9,516 crore during this period. Eight years ago, in 2015-16, Tata Sons reported a net debt of Rs 5,132 crore; from March 2017 until March 2023, this figure was above the Rs 14,700 mark, peaking at Rs 27,437 crore at the end of March 2019, according to data sourced from Capitaline. The company's gross debt nearly halved to Rs 15,173 crore until January 2024 on a standalone basis, down from a peak of Rs 31,363 crore reported in the financial year ended March 2019.
This is largely on the back of Tata Steel's expansion at Kalinganagar, as well as JLR's in China and Brazil
Vinay Pathak, Divyenndu Sharma and Kusha Kapila are comfortable enough in their comic skins to play their parts with ease, observes Deepa Gahlot.
Fourteen per cent of the $16 billion invested by Ratan Tata in M&As abroad has been written off by his successor.
Ignoring controversies surrounding him over Adarsh housing scam, the Congress has decided to field ex-Maharashtra chief minister Ashok Chavan for the Lok Sabha polls and has fielded Madhusudan Mistry, a close aide of party vice president Rahul Gandhi to take on Narendra Modi in Vadodara. Anita Katyal reports
'He told me he was very happy to see the realistic portrayal of the cockpit too.' 'His wife told me that I carried the same kind of personality as her husband in my performance.'
Indian Hotels, Tata Steel, Tata Teleservices, Tata Motors, Tata Power need some immediate attention of the Tata Group chairman
The 15-member committee has also recommended the imposition of a goods and service tax on financial services, and creation of a currency spot market and rupee-settled exchange traded currency derivatives market.
Urban housing mortgage major HDFC announced that it will cut its lending rates by the end of the week.
The toughest part is to tackle human behaviour. On the Atal Setu, says Indrajit Gupta, I chose to drive at a consistent speed of 80 kmph in the middle lane. Vehicles on the right lane were clipping along at 150 kmph, way over the maximum permissible limit of 100 kmph. On occasion, I had to slow down or dodge vehicles suddenly pulling into the middle lane from the side.
Days before US President Barack Obama's high-powered visit here, the US-India CEO Forum has been reconstituted with Cyrus Mistry replacing Ratan Tata as its co-chairman
Top businessmen often seek refuge in the animal kingdom to describe their situation
Ratan Tata was deeply involved in promoting a technology-oriented culture in the group
Marking a generational change, Tata, who turns 75 tomorrow, will hand over the reins of the group to 44-year-old Cyrus Mistry, who was chosen his successor last year and formally appointed Chairman earlier this month.
Captain Sharan and Flight Engineer Anil Jaggia both confirm that the hijackers seemed to know a lot about flying an aircraft. Without help from the ISI or the Pakistan army, it was impossible, points out Utkarsh Mishra.
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.
In instructions for polling issued on Saturday, Congress central election authority chairman Madhusudan Mistry had said Pradesh Congress Committee members 'will mark '1' on the ballot paper against the name of the candidate and fold the ballot paper to put it into the ballot box'.
Mistry said the poll body satisfied the candidate on every complaint but despite that he raised all those points in the media before bringing them to "our notice".
India will lose up to $50 billion to $70 billion per annum in terms of financial and commodity trade services fees in the next 12-15 years, if it fails to open up its financial sector to competition.
Nomination forms for the post of Congress president poll have been collected by Thiruvananthapuram MP Shashi Tharoor and All India Congress Committee (AICC) treasurer Pawan Bansal, but Rajasthan Chief Minister Ashok Gehlot has not done so yet, the party's central election authority chairman Madhusudan Mistry said on Tuesday.
The last electoral contest for the top post of the party took place in 2000 when Jitendra Prasada had suffered a crushing defeat at the hands of Sonia Gandhi.
Amid suspense over who could take on Shashi Tharoor in the Congress president polls, party's central election authority chairman Madhusudan Mistry on Tuesday said AICC treasurer Pawan Kumar Bansal has got nomination forms collected, adding that it may be for someone else.
Quoting Greek philosopher Socrates, Justice Bopanna emphasised that there are four qualities that are expected of a judge -- to hear courteously, to consider soberly, to answer wisely and to decide impartially.
'He was the most thoughtful corporate person I encountered.'
The Congress's central election authority has issued a directive that all AICC general secretaries, state in-charges, secretaries and joint secretaries would cast their vote in the party's presidential polls either at their home state or at the party headquarters in New Delhi and not in their assigned state.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
A total of 20 forms were received during the nomination process. Four of them were rejected as signatures were repeated or did not match, he said.
Women have been and continue to be an integral part of Tata Global Beverages' business, across the world, says Cyrus Mistry.
'He wanted to learn all the time.'
The merger of housing finance major HDFC with the country's largest private lender HDFC Bank will be effective from July 1, HDFC chairman Deepak Parekh said on Tuesday. The boards of HDFC and the private bank will meet on June 30 post to clear and approve the merger, Parekh told reporters in Mumbai. The merger of the corporation with HDFC Bank will be effective July 1, Parekh said.
'That she drove 20 km in 9 minutes is rubbish.'
The notification for the Congress president's election will be out on September 22 by when all the PCC delegates will be finalised and electoral roll published and the election, if required, will be held on October 17.
Senior Congress leader Shashi Tharoor has written to the party's central election authority chairman Madhusudan Mistry seeking the publication of electoral rolls for the upcoming election to the post of All India Congress Committee president, sources said.
Congress's Lok Sabha members Shashi Tharoor, Manish Tewari, Karti Chidambaram, Pradyut Bordoloi and Abdul Khaleque said this list must be made available in order to verify who is entitled to nominate a candidate and who is entitled to vote.
The Congress has appointed observers to coordinate meetings of its legislature party in four states where assembly election results will be declared on Sunday.
Even as the near-term outlook for the quick service restaurant (QSR) industry remains muted, brokerages are positive about the prospects of Sapphire Foods India. Their preference for the QSR chain comes on the back of the steady performance of Kentucky Fried Chicken (KFC), superior execution and reasonable valuations. The Sapphire Foods stock is up 11 per cent since the start of November.
Sharma claimed he has received complaints that neither any virtual nor any physical meeting was held to finalise the electoral rolls, the sources said.
They said that as Congress MPs, they are concerned about the transparency and fairness of the election process for the president of the party.
Filing of nominations for the post of Congress president is scheduled to begin on Saturday with a contest between Rajasthan Chief Minister Ashok Gehlot and former Union minister Shashi Tharoor on the cards.
Housing finance major HDFC on Monday reported a 16 per cent growth in standalone net profit to Rs 3,700 crore for the January-March quarter, helped by record loan sales on the back of benign interest rates and the resultant fall in cost of funds along with the near-total repayments that culled provisions and credit costs. For the full year, the company, which is working on a reverse merger with its banking subsidiary, has booked a net profit of Rs 13,742 crore, up from Rs 12,027 crore in FY21, vice-chairman and chief executive Keki Mistry said on Monday in an earnings call with analysts. On a consolidated basis, net profit for the quarter surged 21.6 per cent to Rs 6,892 crore on-year and for the full year it jumped 21 per cent to Rs 22,595 crore, Mistry said and guided towards better days.
