Even as New Delhi turns up the heat on Turkish firms over Ankara's public embrace of Islamabad, Indian companies rooted in Trkiye are staying put. Mahindra & Mahindra (M&M), Dabur India, and Jubilant FoodWorks say it's business as usual, with no plans to alter course despite the geopolitical chill.
Tata Sons cuts retirement age of non-executive directors from 75 years to 70.
Tata Group chairman Natarajan Chandrasekaran on Thursday said the group's recently launched super app Neu is on an open architecture and it will host non-group brands as well. The Tatas finally launched its super app Tata Neu on April 7, after piloting it for months, but the group chairman claimed there was no delay in the commercial launch. Stating that the app has received an overwhelming response in the past seven days of going live, Chandrasekaran said the app is on an open architecture and will host products and services from non-Tata group companies.
The Tata group companies are now more valuable than all the listed central public sector undertakings (CPSUs) or companies in the country. The key 20 listed Tata companies ended the 2021 calendar year with a combined market capitalisation of Rs 23.36 trillion, ahead of the 70 listed CPSUs, which had a combined m-cap of Rs 23.2 trillion. In comparison, these CPSUs had a combined market capitalisation of Rs 16.7 trillion at the end of December 2020 against the Tata group firms' combined m-cap of Rs 15.7 trillion.
Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors - the latter two are part of the Sensex - will decide on combined related-party transactions of more than Rs 2.68 trillion proposed for this financial year and later. Related-party transactions for BSE 500 companies touched at least a six-year high of Rs 42.1 trillion in FY23, the Capitaline data shows. The Rs 42.1 trillion includes related-party transactions both at balance-sheet and profit-and-loss levels.
Needs funds for Odisha plant expansion, to cut high debt.
Ratan Tata was one of the world's most influential industrialists yet he never appeared on any list of billionaires. He controlled over 30 companies that operated in over 100 countries across six continents yet lived an unpretentious life. Ratan Naval Tata, who died at a Mumbai hospital on Wednesday night at the age of 86 years, enjoyed a perhaps unique status -- a corporate titan who was considered a 'secular living saint' with a reputation for decency and integrity.
Tata, who attended the annual gala event at the National Centre of Performing Arts after five years, was alluding to Chandra's presentation on the performance of the Tata group of companies.
The domestic stock market this week would monitor the geopolitical developments after India and Pakistan reached an understanding to stop military actions, analysts said. Moreover, macroeconomic data announcements, Q4 earnings, trading activity of foreign investors and global market trends are also likely to influence sentiments, traders said.
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.
Fada estimates that global supply chain headwinds like scarce availability of rare earth elements for electric vehicle components and geopolitical tensions may affect urban consumer sentiment in June as well.
Shares of Tata Technologies, an arm of Tata Motors, made a dream stock market debut on Thursday, listing with a huge premium of 140 per cent, against the issue price of Rs 500. The stock of the company which provides engineering and product development digital services listed at Rs 1,199.95, registering a sharp jump of 139.99 per cent from the issue price on the BSE. It further zoomed 180 per cent to Rs 1,400.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
At the end of 2018-19, the Tata group had a consolidated debt of Rs 2.77 trillion. Tatas not only plan to avoid big-ticket acquisitions for now, the group's main focus will be on improving key metrics and reduce debt, say Shally Seth Mohile & Dev Chatterjee.
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
Kant's projection of the Tata Group as an integral part of the British industrial landscape comes at a time when Tata Motors' owned Jaguar Land Rover had faced some challenges in convincing the UK government to lend support in raising money.
The promoter entities of JSW Group are in talks with several electric-car manufacturers in China to launch an electric car for the Indian market at Rs 15-20 lakh, a source close to the development said.
Japan is expected to increase its investment target in India from the earlier 5 trillion yen ($34 billion) to almost 10 trillion yen.
The total value of India's top 100 brands has increased by 2 per cent, from $162.1 billion in 2020 to $164.9 billion in 2021, according to the latest Brand Finance India 100 2021 report. This uplift in brand value over the course of the first year of the pandemic is an impressive feat given the global economic crisis following the implementation of national lockdowns in March 2020, when business activity was brought to a halt, affecting both production and consumption. Among the brands that came on the top of the list include Tata Group, Reliance Industries, and Mahindra Group.
Higher price tag and soaring fuel costs have swayed buyers away from the ultra compact car over the months.
Trump's tariff threats spooks markets; Sensex down 106 points
Two firms belonging to the Adani group - India's most valued conglomerate - are part of the Nifty 50 index. The group, however, has no representation in the Sensex. And it could stay this way if a proposed index qualification rule change gets approved. Recently, Asia Index, a joint venture between S&P Dow Jones Indices and BSE responsible for index composition, floated a consultation paper where it proposed that a stock must have a derivative contract to be eligible for inclusion in the flagship 30-share Sensex index.
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
Siam argues that a 2040 ban could destabilise ongoing and future investments and threaten millions of jobs in the automotive value chain.
Singur was a "great disappointment" but the Tata Group might still go to West Bengal, hints outgoing chairman of the group Ratan Tata.
From the 30-share Sensex pack, Bharti Airtel, Mahindra & Mahindra, UltraTech Cement, Adani Ports, Reliance Industries, Larsen & Toubro, JSW Steel, Hindustan Unilever, Titan and Tata Motors were the biggest gainers. Power Grid, Nestle, State Bank of India and Infosys were the laggards.
April-June 2023 (Q1FY24) was a mixed quarter for India's top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.
Fourteen per cent of the $16 billion invested by Ratan Tata in M&As abroad has been written off by his successor.
There was virtually no incremental equity investment by Tata Sons during Mistry's first two years
Risks emerging from the US have left automotive investors worried. US President Donald Trump has announced 25 per cent tariffs on automotive imports, while global electric carmaker Tesla has taken its first steps towards entering India. While these developments are sentimentally negative for related stocks, it may be too early to conclude the eventual impact, analysts said.
After the rechristening of Telco to Tata Motors in 2003, one of the auto-maker's earliest decision was to settle its high-cost debts of around Rs 500 crore with the proceeds from foreign currency convertible bonds, or FCCBs. The company had raised $100 million and repaid the debt.
Rekha Jhunjhunwala's net worth has increased by more than 7 per cent, or Rs 2,865 crore, compared to less than 1 per cent rise in the BSE Sensex.
'Jaguar Land Rover will manage the long-term impact and implications of this decision.'
Tech giant Microsoft regained the top spot in the list of best employers to work for in India in 2024, followed by Tata Consultancy Services (TCS) and Amazon, according to a Randstad Employer Brand Research report released on Wednesday. Microsoft had topped the list in 2022, but slipped to fifth in 2023. The 2024 list is based on responses from 3,507 people.
The managing directors -- Rana Sinha of Tata Hitachi Construction Machinery Company, Dibyendu Bose of TM International Logistics Limited, Sandipan Chakravortty of Tata Steel Processing and Distribution Limited, Viresh Oberoi of mjunction, and Sanjiv Paul of Tata Metaliks -- met at Nabanna, the makeshift state secretariat. Finance and industry minister, Amit Mitra, was also present.
From the 30-share blue-chip pack, Adani Ports jumped over 5 per cent. NTPC, Tata Steel, Bajaj Finserv, Zomato, Bajaj Finance, Tata Motors, State Bank of India, IndusInd Bank and Maruti were among the other big gainers. From the 30-share pack, Hindustan Unilever, Titan, Tata Consultancy Services, Infosys and UltraTech Cement were the other laggards.
More than three years after Tata Motors and Iveco, a Fiat Group company, signed a comprehensive agreement to jointly explore opportunities in the area of commercial vehicles, the plan has largely remained in cold storage. In February 2007, Tata Motors and Iveco signed a memorandum of understanding (MoU) for potential developments in engineering, manufacturing, sourcing and distribution of products and components.
'The facility works on Apple's iPhone and everything is damaged -- CNC machines, computers and CCTVs worth crores.'
'SUV is a very intensely fought category, unlike hatchbacks and cars.'
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