India will not tailor its policies to suit US EV maker Tesla, and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the world to set up a base in the world's fastest-growing economy, Commerce and Industry Minister Piyush Goyal said. Tesla has been seeking an initial tariff concession that would allow it to offset 70 per cent customs duty for cars priced less than $40,000, and 100 per cent for cars of higher value.
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
Tata Global Beverages has set out on a journey to become a global leader in branded beverages through innovation, strategic acquisition and organic growth.
'I've been backing businesses in the e-commerce space because they enable goods and services to reach people who could never have been catered to in this manner before.'
The Tata Group has close to 110 companies and Chandrasekaran plans to bring this number down to around five or six.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, UltraTech Cement, ITC, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, NTPC, ICICI Bank and IndusInd Bank were the major laggards.
The latest results suggest Tata Steel Europe may have lost pricing power, though production and turnover are up.
Banks, the biggest component of the Indian equity market, are now trading at a big discount to the benchmark indicesThe BSE Bankex index, which tracks the share price of the 10 top listed banks, is trading at a trailing price to earnings (P/E) multiple of 15.3X, nearly a 40 per cent discount to the BSE Sensex current P/E of 24.37X. This is the biggest valuation gap between the two indices in at least 10 years. Similarly, the BSE Bankex price to book ratio (P/B) of 2.22X is 40 per cent lower than the current Sensex P/B ratio of 3.61X.
Driven by poverty following suspension of work at an ancillary unit of Tata Motors small car project in Singur, a daily wage worker on Wednesday committed suicide at his village, close to the factory site.Sixty-five year old Sushen Santra consumed insecticide at Joymalla village, barely 100 yards from the site, and died at Singur hospital.Santra's wife said they were a poor family and they had no money left after work was stalled in the unit.
Listing Toyota, Intel, Sony, LG and Samsung among his admired companies, Tata Group supreme Ratan Tata has regretted that India is not world class in manufacturing and has lost the "chance to be the factory of the world."
Stung by dwindling sales of the Nano, the world's cheapest car, Tata Motors has embarked on a nationwide campaign to promote and market it.
The Supreme Court judgment last week allowing Tata Power to retail power to consumers in Mumbai could pose a few regulatory challenges, experts feel.
Sources indicated that Tata Salt has set aside about 8-10% of their marketing budget for the Olympics this year.
Ratan Tata has invested an undisclosed amount in an entity catering to pet care.
Treat yourself to two of Chef Satish Arora's signature five-star dishes.
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Swamy had written to the Election Commission, the DGCA and the Civil Aviation Ministry not to grant a license to the carrier.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
Tata Coffee Ltd, a subsidiary of Tata Global Beverages Ltd, is India's third largest exporter of instant coffee.
The duo bought additional shares in pharmaceutical companies Lupin and Jubilant Life Sciences, along with Agro Tech Foods and NCC during Q2FY21
The GSM service arm of Tata Teleservices Limited has invested close to Rs 50 crore (Rs 500 million) for the campaign featuring Bollywood actor Ranbir Kapoor.
'Nearly all companies are extending festival offers for entry-level, sedan, and hatchback segments.'
Benchmark equity indices Sensex and Nifty closed higher on Friday after two days of fall, helped by buying in metal, telecom and auto stocks amid a firm trend in global markets. Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra reporting robust wholesales of passenger vehicles and GST collections crossing Rs 1.50 lakh crore for the third straight month in May also added to the optimism. The 30-share BSE Sensex climbed 118.57 points or 0.19 per cent to settle at 62,547.11.
The Indica, known to Europeans as City Rover, was rolled out in November 2003 but did not succeed in the market where consumers are very choosy about the vehicles they buy.
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
The chemicals sector's recovery could be delayed until FY25 if the current trends of weak demand and flat pricing continue. Following a subdued September quarter, the revenue and profit performance of listed chemicals companies are anticipated to fall short of initial expectations of an improvement. Despite some price stability, the demand trajectory remains uncertain.
Mutual funds (MFs) are betting on a turnaround in the healthcare sector to boost returns but are divided on the prospects of the information technology (IT) sector amid uncertain growth outlook. At the end of June, all of the top 20 fund houses were overweight on the healthcare sector vis--vis the sector's presence in the BSE 200 index, shows a report by Motilal Oswal Financial Services (MOFS). In the case of the IT sector, only six of the 20 fund houses had overweight positions.
India 's Tata group is moving to launch a full-service bank should restrictions preventing industrial groups from owning substantial stakes in banks be relaxed.
From the Sensex pack, Infosys tanked over 8 per cent after the company reported a lower-than-expected 11 per cent rise in net profit for the June quarter and delivered a shocker as it slashed its FY24 growth outlook to 1-3.5 per cent on delayed decision-making by clients amid global macro uncertainties. Hindustan Unilever, HCL Technologies, Wipro, and Tech Mahindra were the other major laggards. On the other hand, Larsen & Toubro rose the most by 3.88 per cent after it bagged an order of worth over Rs 7,000 crore from the bullet train project.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
In November Tata Motors launched a brand new variant of Tata Nano.
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
By 2025, Uber projects that 25,000-30,000 cars -- or 12 to 16 per cent of vehicle additions -- would be EVs, reports Surajeet Das Gupta.
In a bid to protect the consumer's interest, the Maharashtra government is planning to issue a directive, by invoking section 11 of the Electricity Act, 2003, to Tata Power to continue supplying power in Mumbai.
Seeking to address the issue of challenges to inclusive growth in emerging economies, Tata Group chairman Ratan Tata on Wednesday said that at the Bottom of the Pyramid (BOP) people still do not have access to products and services, as they are still slightly beyond their reach.
A Maharashtra government-appointed committee has asked Tata Power not to adopt differential pricing but supply excess power at the regulated price to Reliance Infrastructure.
In contrast to the stand by GSM operators, CDMA players like RCom and Tatas hailed telecom regulator TRAI for its "balanced, progressive and transparent" spectrum proposals.
The idea is to create a start-up-like activity with a small business unit.
