About time the Tata companies that are owned by the public are freed from the clutches of Tata Sons, says Sudhir Bisht.
Prime Minister Narendra Modi made a surprise visit to the new parliament building in New Delhi on Thursday evening and inspected various works as well as interacted with construction workers, sources said.
The Tata Group has close to 110 companies and Chandrasekaran plans to bring this number down to around five or six.
Other losers included Vedanta, Tata Steel, NTPC, ONGC, L&T, M&M, Coal India, Maruti, PowerGrid, Axis Bank, ITC and HDFC, dropping up to 5.75 per cent. On the other hand, Kotak Bank, Bharti Airtel, HCL Tech, Bajaj Finance and Hero MotoCorp rose up to 0.95 per cent.
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Since the early 1970s, the Tatas have presence in the city-state.
Ahead of the board meeting that afternoon, in fact only minutes before that, then chairman Cyrus Mistry was given an opportunity to step down, it is learnt. But, Mistry declined
Among the Sensex firms, Bajaj Finserv, Tata Motors, Asian Paints, ITC, IndusInd Bank, State Bank of India, Tata Steel, Wipro, Infosys and Maruti were the major gainers. Tech Mahindra, HCL Technologies, Kotak Mahindra Bank, Titan and Larsen & Toubro were the major laggards.
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
The Tata Group on Tuesday released a book, titled 'To Strive and To Soar', which chronicles the company's contribution to sports excellence in India.
Indian business titan Ratan Tata, already named among the world's most influential business people from India, has now made to a list of 30 most powerful in the British construction space with a ranking higher than even the UK's Minister for Housing.
Refusing to be drawn into a point by point clarification of Mistry's letter, the company said: "It will be beneath the dignity of Tata Sons to engage in a public spat with regard to the several unfounded allegations appearing in his leaked confidential statement."
Stating that his role is for the short term so as to ensure stability and continuity at the group, Tata asked top executives of the USD 100 billion conglomerate to act as leaders in respective markets and focus on enhancing returns to shareholders.
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.
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
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.
According to the fire officials, the blaze broke out at around 9.30 am in the basement that houses a small office, a canteen, an auditorium, a changing room and power substation. The employees, identified as Farad Wadia, Eashwar Patel and Shashank Pawar were unable to find their way out due to the dense smoke and went to nearest window in the hope of finding air.
Three persons were killed on Wednesday and another injured after a major fire broke out at the Bombay House building, housing the Tata Group offices in South Mumbai.
The Tata Nano, the world's cheapest car, could be cruising on Pakistani roads if the governments of India and Pakistan remove bottlenecks standing in the way of joint ventures and investments between the two countries.
Selected inner structural panels will be pressed and assembled by Caparo at a new facility in Singur, adjacent to the Tata Nano manufacturing plant in West Bengal.
The Group has been pioneer in innovation; Ratan Tata has been credited for launching world's cheapest car Nano in 2009
The Budget Session of Parliament commences on January 31 and the first leg will go on till February 13.
Shift to new business model to help companies cut capital cost, increase margins.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
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.
Ratan Tata, an iconic corporate leader, retired as chairman of Tata Group after a 50-year run on Friday but kept away from office on his last day at the helm of one of country's oldest business empires. Tata, who turned 75 today, is in Pune for his birthday.
Tata Group chairman Ratan Tata on Thursday decried the government for not learning from the past and failing to put in place a crisis infrastructure that could be activated immediately after terror attacks in the city.
A good number of seniors today are independent, financially stable.
The facility has been branded 'Indicash'. Last month, TCPS secured a licence from the Reserve Bank of India to launch white-label ATM operations, under the central bank's scheme 'B'.
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.
The ceremony to inaugurate the new Parliament building will begin with an early morning havan and a multi-religion prayer on Sunday followed by a formal opening in the Lok Sabha chamber by Prime Minister Narendra Modi.
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The RBI has accepted the application withdrawal request, according to the statement.
Unlike Ratan Tata's philosophy, Mistry cared about short-term gains. This is a Diwali gift for many
In 2006-07, TCS had employed 7,000 people in the eastern states.
Set up by three former NDTV executives, the company is targeting premium restaurants in Delhi-NCR
It is not clear at this stage whether Tata will take up the government's offer of taking a 25 per cent stake in the business.
Fixes spotlight on in-house talent for retaining and grooming purposes.
Among the businesses that need consolidation are retail and defence
Within days of exiting from West Bengal, Tatas have decided to relocate their Rs 1 lakh-Nano car project in Gujarat, after scouting many sites including that Karnataka and Andhra Pradesh.
These trusts are being registered under a new framework.
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