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
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
Godrej Properties Ltd has acquired legendary film actor, director and producer Raj Kapoor's bungalow at Chembur in Mumbai for around Rs 100 crore to develop a luxury housing project with a sales potential of Rs 500 crore. The land was purchased from the Kapoor family, legal heirs of Raj Kapoor, the company said in a regulatory filing. When contacted, Godrej Properties executive chairman Pirojsha Godrej told PTI: "The total size of the land is around 1 acre.
Ratan Tata has invested an undisclosed amount in an entity catering to pet care.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
But the industry's chief executives remain confident of the long-term growth potential of NBFCs in India, given their specialised lending on the asset side, last-mile reach, and a well-capitalised balance sheet. "Over the years, NBFCs have faced many crises.
The idea is to create a start-up-like activity with a small business unit.
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The RBI has accepted the application withdrawal request, according to the statement.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
On Wednesday, chairman emeritus of Tata Sons Ratan said that while driving from the airport through Rajarhat, he came across beautiful buildings but it looked like a countryside under development with no signs of industrialisation.
A digital configurator comprising a three-dimensional graphics-based app will allow customers to choose specifications and align the output generated by the tool to company's back-end manufacturing.
Tata Motors, the country's largest automobile house, is looking to foray into the used commercial vehicle market through its extensive dealer network in the country.
Many say Tata Motors has perhaps paid the price for being too ambitious.
These homes offer services that help lead a smooth retired life.
The Tata empire turns 150 this year. R Gopalakrishnan, former director, Tata Sons Ltd, imagines a conversation among the group's founder Jamsetji, his son Dorabji, his successor, Nowroji Saklatwala, and his successor, J R D Tata.
Sanjeev Gupta, chief of Liberty House, is being dubbed UK's new 'man of steel' after he emerged as a potential saviour of 4,000 jobs
About time the Tata companies that are owned by the public are freed from the clutches of Tata Sons, says Sudhir Bisht.
A large number of American companies like Google, Uber and IBM are offering their resources to help India successfully fight the battle against the deadly coronavirus pandemic.
About 1,556 shares have advanced, 1,211 shares declined, and 182 shares are unchanged.
HDFC and HUL are the latest entrants in the club
'Cyrus was always very different. He would think before acting.'
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
R Venkataramanan, the managing trustee of the Sir Dorabji Tata Trust who is responsible for all Tata-run trusts, prefers to keep a low profile but has emerged as a power centre in the group - with more clout than many established CEOs, says Dev Chatterjee.
Each bottle of pickle that leaves FarmDidi, headed to a consumer, has a little kahani behind it -- it's linked to the tale of a life, the life of a simple, striving village woman who created it, and that's what gives Manjari Sharma satisfaction and happiness.
While study was done before the current boardroom battle began, the findings indicate Tata is no longer viewed as aspirational brand by working professionals.
The car will compete with Hyundai Grand i10 and Maruti Suzuki Celerio
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.
These projects are targeted at financially well-off and upwardly mobile Indians.
Pallon has already joined the boards of some of the unlisted companies such as Afcons
Ratan Tata was the first one to realise that Indian companies had become a prisoner to tradition and needed to radically innovate.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
The company took five years to sell the 250,000 units of the Nano.
Fundraising activity in the debt market is gaining momentum ahead of the festival season. Several non-banking financial companies (NBFCs) and the National Bank for Agriculture and Rural Development (Nabard) are planning to raise at least Rs 5,560 crore in the next two days by issuing bonds, with a greenshoe size of Rs 6,370 crore. Ajay Malglunia, managing director and head of investment grade group at JM Financial, said, "The market likes certainty, the market will gain clarity after the US Federal Reserve's (Fed's) policy.
Besides a minority stake, the UK and Welsh governments are considering additional grant funding
Tata Consultancy Services, India's largest IT company, sold 50 per cent stake in Intelenet Global Services Ltd to Housing Development Finance Corporation Ltd for Rs 161 crore (Rs 1.61 billion).
With the threat of a third Covid-19 wave looming large, companies are scrambling to protect employees and keep operations safe--from a no-jab-no-entry-at-workplace policy to ramping up vaccination, it's an all-out effort to prevent the scale of devastation seen in the first two waves. At least two top steel companies--Tata Steel and ArcelorMittal Nippon Steel India (AM/NS India)--are pushing for vaccination certificates for entry into work premises. AM/NS India, a joint venture between world's leading steelmaker, ArcelorMittal, and Japan's Nippon Steel, is set to make vaccination the certificate a requirement from July 1.
