Tatas-owned Air India plans to acquire no-frills carrier AirAsia India and has sought approval from the Competition Commission for the proposed deal. AirAsia India is majority-owned by Tata Sons Private Ltd with a shareholding of 83.67 per cent and the remaining stake is with AirAsia Investment Ltd (AAIL), which is part of Malaysia's AirAsia Group. Full service carrier Air India and its low-cost subsidiary Air India Express were acquired by Talace Private Limited, a wholly-owned subsidiary of Tata Sons Private Ltd, last year. Besides, Tatas operate full service airline Vistara in a joint venture with Singapore Airlines.
Tata Coffee Ltd has decided to form a joint venture with tea firm Beeyu Overseas Ltd for marketing and sale of the company's instant coffee products in the international market.
The company said, due internal processes as applicable for sanctions of loans of such nature and value were followed
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Air India Express and AirAsia India have moved to a unified reservation system, whereby passengers can make bookings for both airlines through an integrated website. The move is part of the ongoing process of merging AirAsia India with Air India Express. The combined entity will focus on leisure-oriented and price-sensitive markets.
From the Sensex pack, Tata Steel plunged nearly 5 per cent. Other major laggards were Tata Motors, State Bank of India, Bajaj Finserv, Reliance Industries, Wipro, IndusInd Bank, Larsen & Toubro and Maruti Suzuki.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
With the FIPB giving approval to the Tata-Singapore Airlines joint venture to start a full-service carrier, Tata Group Chairman Emeritus Ratan Tata on Friday met Commerce and Industry Minister Anand Sharma.
Tatas and Singapore Airlines have assured the government that control of their proposed airline venture would always remain in Indian hands, while seeking approval to offer passenger services on both domestic and international routes.
On July 25 and 26, the regulator's team carried out the surveillance of Air India in the areas of internal audit, accident prevention work and availability of required technical manpower.
Indian exporters shipping goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict, according to experts. Israel witnessed a surprise and unprecedented multifront attack by air, land and sea by the Hamas militant group, which rules the Gaza Strip, in its southern parts on Saturday morning. The International trade experts said the conflict may reduce the profits of domestic exporters but will not impact trade volumes unless war escalates.
These patents are primarily in the area of computation and data processing.
Amid slowdown, the company is buying quality land parcels at marquee locations across the country.
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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.
While four of the directors would be nominated by Tata Sons, the other two would be representatives of Singapore Airlines.
The parties have jointly applied to the Delhi high court, requesting that it accept their agreed terms of settlement, subject to such further orders as the court sees fit, it said.
RIL is also more profitable than Tata Motors.
The Nowera Nuddy tea estate of Amalgamated Plantations Pvt Ltd (APPL), a close to 50 per cent subsidiary of Tata Tea, accounts for a little more than 1 per cent of the company's tea production in North India, but is threatening its image as an 'ethical' group. The IUF, a global trade union, is running an international campaign against the lockout of the estate.
Benchmark Sensex dropped 334 points on Monday due to intense selling pressure in metal and power stocks as FII outflows dampened investor sentiment. Besides, a sharp decline in the rupee against the US dollar also put pressure on domestic equities, traders said. After losing nearly 500 points, the 30-share BSE index recovered some lost ground to settle at 334.98 points or 0.55 per cent lower at 60,506.90. During the session, the index touched its intra-day low of 60,345.61.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tata Motors Ltd is to develop a new platform for utility vehicle for which it will firm up the project outlay by January 2004, a senior company official said on Saturday.
Listed cos begin appointing women directors
The government said on Wednesday that it would consider on commercial ground the request from Ratan Tata to route international long distance traffic of state owned Bharat Sanchar Nigam Ltd through Videsh Sanchar Nigam Ltd.
This is the third enforcement action against a Tata Group airline in over a month.
From the Sensex pack, Tata Motors, Sun Pharma, Wipro, Tata Consultancy Services, UltraTech Cement, Tech Mahindra, Bajaj Finserv, HCL Technologies, Infosys and IndusInd Bank were the major laggards. NTPC, Power Grid, Reliance Industries, Tata Steel, HDFC and HDFC Bank were the major winners.
The issue will now have to be resolved through arbitration.
Benchmark indices Sensex and Nifty ended with gains on Wednesday, extending the previous day rally amid lower level of inflation on domestic front and better-than-expected inflation readings from the US. The 30-share BSE Sensex climbed 144.61 points or 0.23 per cent to settle at 62,677.91. During the day, it jumped 301.81 points or 0.48 per cent to 62,835.11.
From the Sensex pack, State Bank of India, Axis Bank, IndusInd Bank, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Maruti Suzuki, Tata Steel and Tata Motors were the major gainers. Power Grid and HDFC Bank were the laggards from the pack.
Making a strong case for approval of their proposed airline JV, Tatas and Singapore Airlines have said that the venture would create significant job opportunities in India and would boost the country's image as an international investment destination.
In the next three years, Tata Power will invest anywhere between $150-200 million.
With top Indian software giants like Tata Consultancy Services, Infosys and Wipro setting up and expanding operations in China, the domestic players have started feeling the heat.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
Famous and long believed to be trusted Indian brands have wilted against foreign brands, says Mohan Guruswamy.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
