Tata Group companies Tata Sons and Tata Tea, under an agreement with the US firm, will jointly purchase the 30 per cent stake owned by TSG consumer partners, the company said.
In 2010, Ratan Tata had spoken of how he had to abandon plans to launch an airline because he refused to pay bribes to secure the necessary approvals.
'Opt for a minimum cover of Rs 10 lakh to Rs 15 lakh, especially in urban and metro areas.'
A division bench of Justices Ranjit More and Bharati Dangre on Monday quashed and set aside the proceedings.
It is believed that Tata Sons was unhappy with Mistry's approach of shedding non-profit businesses, including the conglomerate's steel business in Europe, and concentrating only on cash cows
From the 30-share pack, Bajaj Finserv, Mahindra & Mahindra, Eternal, Power Grid, ITC, Tata Motors, Asian Paints and Hindustan Unilever were among the gainers. Among the laggards, Kotak Mahindra Bank tanked 4.57 per cent
Mid-tier information-technology (IT) companies last financial year reported better growth numbers than their larger counterparts, highlighting their ability to navigate the uncertain macroeconomic environment. Most of these companies - such as Persistent Systems, Coforge, KPIT, and Mphasis - focus on niche businesses and industries that allow them to go deeper in terms of client mining and expanding wallet share from existing customers.
Singapore Airlines first approached the Tatas, its old choice for a venture in India, and was aware of AirAsia negotiations.
Tata Group chairman Ratan Tata was in Kolkata on May 18, 2006, the day Buddhadeb Bhattacharjee started his second innings as chief minister of West Bengal, to announce the Nano small car project.
One of India's most powerful and dynamic business tycoons, Ratan Tata turns 70 today.
Singur was a "great disappointment" but the Tata Group might still go to West Bengal, hints outgoing chairman of the group Ratan Tata.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
The Tata trusts can nominate one-third of the directors of Tata Sons
Mukund Rajan, who worked closely with Ratan Tata, recalls the unique experience of working with the corporate titan.
Oil and Natural Gas Corp has surpassed the Tatas in market capitalisation, with its market value of Rs 104,114.5 crore (Rs 1,041.14 billion) being more than that of all the 26 listed firms of the Tata Group.
The award will be presented in Mumbai on September 23 during Frost & Sullivan's annual Growth, Innovation and Leadership Executive Congress, the global consulting firm said in a statement.
Indian business conglomerate Tata Group is mulling a listing at London bourses for a new entity, a British media report has said. But the group's headquarters in India on Monday dismissed any such move.
Tata Group chief N Chandrasekaran on Thursday reached out to employees of Air India asking them to work together to build the airline that the country needs, while asserting that the "golden age" of the carrier lies ahead. In a welcome letter to the employees of Air India, after the Tata Group took over the management and control of the airline, Chandrasekaran, chairman of Tata Sons, reflected on the airline's "brilliant past" but said the entire nation is now waiting to see what "we will achieve together". "From the day of the announcement (of Tatas winning the bid), one word has been on everyone's lips: Homecoming.
The Tata Group on Wednesday announced that it would set up a cancer hospital in Kolkata and make further investment in West Bengal.
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
Perhaps, the group's leadership position and potential in the retail segment prompted Tata Sons Chairman Cyrus Mistry to identify retail as one of the group's four growth clusters in his recent Vision 2025 statement.
Both parties will discuss the issues and there will be a meeting again on May 28, he said.
'We don't give any guidance about profitability. We have internal targets but we don't discuss them publicly.'
"If need be we will move and relocated the Nano project elsewhere. Relocation will cost both the Tatas and the West Bengal government, but I will not bring my employees here if they will be beaten up," the Tata Group chairman said.
Recently, TPEM's first born electric concept, Avinya broke cover. The model promises a minimum range of 500 kilometres and advanced technology features, aimed at buyers in India and outside. TPEM, the newly formed entity may also consider a separate dedicated sales channel for the EVs with a distinctive corporate identity once the volumes reach a critical mass and throughput is large enough for the dealers to be profitable, said Chandra. Elaborating further on the hiring strategy he said, "We will hire from everywhere-wherever the talent of the required competency is available."
JSW Steel, owned by Sajjan Jindal, has emerged as the world's most valuable steelmaker, boasting a market capitalisation (mcap) of nearly $30.31 billion, according to Bloomberg data.
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The RBI has accepted the application withdrawal request, according to the statement.
"The Tata Group has had a long and fruitful association with Vaishnavi Corporate Communications and its chairperson Ms Niira Radia, which has added substantial value to the group's communications and public perception," a spokesperson of the group's holding company Tata Sons said in a statement.
Thanks to a big payout by the group's cash cow, Tata Consultancy Services (TCS), Tata Sons is set to earn a record-high equity dividend worth nearly Rs 33,350 crore from the group's listed companies for FY23, up 130 per cent from Rs 14,529 crore in FY22. Nearly 90 per cent of this, or around Rs 30,500 crore, is estimated to accrue to Tata Sons while the rest will show up in its profit & loss account for FY24. This is because nearly 80 per cent of the dividend payout by TCS for FY23 was done before the end of the financial year through three quarterly interim instalments and a special one in January this year.
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.
The $100 billion Tata group conglomerate is a major beneficiary of the decision to open up aviation in India.
The Tata group companies increased their dividend payout to 28.3 per cent in the financial year ended March 2008 from 27.3 per cent a year earlier, while the corporate sector (1,121 dividend paying companies) pruned the dividend payout from 25.22 per cent to 23.04 per cent.
Ratan Tata has got over Rs 1 crore as compensation for serving as an independent director on the board of NYSE-listed Alcoa Inc during 2012.
