The Tatas are rather overwhelmed with some facets of the airline they have discovered, but even more unnerved by what they may not have yet uncovered, reveals Anjuli Bhargava.
The Tata Group has close to 110 companies and Chandrasekaran plans to bring this number down to around five or six.
Effective November 8, Ratan N Tata has stepped down as chairman of Tata Power and Cyrus P Mistry will take his place.
Ratan Tata will play only an advisory role and will not be part of the selection panel.
What strengthens this view further is that he is also the son-in-law of Pallonji Mistry, the largest single shareholder in Tata Sons, the controlling arm of the diversified Tata Group, with an 18 per cent stake.
Noel Tata, who had built Trent into a Rs 1,000-crore company and launched a slew of brands in India such as Sisley and Zara, is now considering launching global brands from Tata International, the exports and trading arm of the Tata Group.
Analysts say Tatas could sustain their current pace of growth, provided the group's "cash cows", such as TCS and Tata Motors, continue to deliver.
Tata Sons on Thursday announced the appointment of Campbell Wilson as chief executive officer and managing director of Air India. Wilson is the founding CEO of low-cost airline Scoot.
Tata Motors on Monday said its president for the passenger car division, Rajiv Dube has resigned from the company.
Competition Commission has approved Tata Group's proposed acquisition of debt-laden Air India as well as its two subsidiaries. The Rs 18,000 crore-deal that includes the winning bidder Talace taking over Rs 15,300 crore-worth debt, is a major step in the government's efforts over the years to revive the ailing airline. Talace Pvt Ltd, a wholly-owned subsidiary of Tata Sons, emerged as the winning bidder in October.
Tata Group Chairman Ratan Tata on Friday met Jammu and Kashmir Chief Minister Omar Abdullah and expressed his desire to expand his group's activities in the state.
Sources in the Tata group said they could not attend as they were travelling.
The airline had initiated a probe after the passenger posted on X that there was a blade-like metal object in the meal.
Air India on Friday said it has completed the acquisition of its first A350-900 aircraft by way of a finance lease transaction with HSBC through the GIFT City. This is also the first wide body aircraft to be leased through the GIFT City, the country's first International Financial Services Centre (IFSC). In a release, the airline said the transaction was facilitated by its wholly-owned subsidiary AI Fleet Services Ltd (AIFS) and is also the first financing transaction from the orders for 470 aircraft that were made earlier this year.
Driven by mega investment proposals from Tata Power, Adani group, Singapore's Sembcorp Industries and Leap Green Energy, among others, the two-day Global Investors Meet 2024 in Tamil Nadu is expecting an infusion of around Rs 6.64 trillion. This is likely to create around 2.69 million direct and indirect jobs in the state. "Due to our tireless efforts and your participation during this Global Investors' Meet, we have attracted an unprecedented Rs 6.64 trillion of investments.
Tata Motors plans to have 10 new battery electric vehicles (BEVs) in its domestic product portfolio by 2025 as it looks to drive its business model towards sustainable mobility going ahead, as per Tata Motors chairman N Chandrasekaran. In his message to the shareholders, he noted that the auto major aims to be amongst the world leaders in sustainable mobility solutions and as part of that it is also exploring tie-ups in cell and battery manufacturing to secure supplies for its portfolio of green vehicles. "In India, EV penetration in our portfolio has now doubled to 2 per cent this year and we expect penetration to increase exponentially in the coming years. "Tata Motors will lead this change in the Indian market. By 2025, Tata Motors will have 10 new BEV vehicles and as a Group, we will invest proactively to set up charging infrastructure across the country," Chandrasekaran informed shareholders in the company's Annual Report for 2020-21.
At TCS, Chandrasekaran would be succeeded by Rajesh Gopinathan, currently the company's chief financial officer.
IndiGo will introduce business class seats in select flights on 12 domestic routes starting from November 14 and also launch a customer loyalty programme, as the 18-year-old airline seeks to expand business and strengthen global presence. The announcements, made at an event in the national capital on Monday to mark 18 years of operations, also highlights a pivotal trajectory for the airline.
Days after the disbanding of Group Executive Council set up by Tata Sons ousted chairman Cyrus Mistry, N S Rajan and Nirmalya Kumar have resigned from their respective board positions at Indian Hotels Company and Tata Chemicals.
Veteran industrialist Ratan Tata, who headed Tata group whose iconic hotel in Mumbai was one of the sites of the 26/11 terror attacks, on Thursday penned a heartfelt tribute saying the wanton destruction that took place 12 years ago will never be forgotten.
The Tata Group's agreement with one of the largest conglomerates in Bangladesh, the Nitol Niloy group, to make footwear and bicycles is likely to bear fruit soon.
The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said. Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt. Subsequent to that, an LoI has now been issued to Tata confirming the government's willingness to sell its 100 per cent stake in the airline.
The Tata Trusts disbursed more grants in the last 10 years than they did in the previous 100 years.
Once pioneers in civil aviation, the Tata group is unlikely to get into the sector because of "destructive competition", its outgoing Chairman Ratan Tata said.
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.
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.
Ratan Tata was deeply involved in promoting a technology-oriented culture in the group
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
Tata Sons, holding company for the Tata group, is working on building a centralised rural business platform that could be leveraged for the entire group's benefit, instead of each company looking at it separately.
Tata Power saw a big sell-off, with the stock falling almost 8 per cent after declaring disappointing results for the October-December quarter (Q3) of 2023-24 (FY24) on Friday evening. The company reported net consolidated revenue of Rs 14,650 crore, up 4.4 per cent year-on-year (Y-o-Y), and earnings before interest, tax, depreciation, and amortisation (Ebitda) of Rs 2,607 crore, up 2 per cent Y-o-Y, in the quarter, led by higher sales across Odisha distribution companies (discoms) and capacity addition in renewables. This was well below consensus estimates.
India's Ratan Tata aims to transform his once-stodgy conglomerate into a global powerhouse. But can it thrive after he steps down?
From its lows in December, the stock of Tata Motors is up about 15 per cent. The gains came on the back of better than expected December volumes in its UK-based subsidiary Jaguar Land Rover (JLR). This coupled with gradual recovery in the global passenger vehicle demand, improving profitability due to product mix and lower commodity costs are expected to be key positives for the company.
From 30 Sensex firms, Adani Ports, NTPC, Power Grid, State Bank of India, Nestle, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the biggest laggards. Axis Bank, Infosys, JSW Steel, Tata Motors, HDFC Bank and Kotak Mahindra Bank were among the gainers from the blue-chip pack.
The protesters staged a sit-in at the main entrance of Bombay House.
Singapore Airlines on Tuesday said Vistara will be merged with Tata group-owned Air India. Tata group owns a 51 per cent stake in Vistara, and the remaining 49 per cent shareholding is with Singapore Airlines (SIA). As part of the transaction, SIA will also invest Rs 2,058.5 crore in Air India.
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