It is Tata's fourth such investment in an e-commerce co.
Maruti Suzuki India and Hyundai reported single-digit sales growth in July with the sports utility segment continuing to drive overall demand in the market. Mahindra & Mahindra witnessed a 29 per cent increase in passenger vehicle dispatches while Tata Motors saw a marginal increase in the wholesales last month. Maruti Suzuki on Tuesday said its total domestic passenger vehicle sales stood at 152,126 units last month as compared to 142,850 units in the year-ago month, a growth of 6 per cent.
TCS saw its headcount reduced by 6,333. Infosys' headcount decreased by almost 7,500, and HCLTech saw its employee numbers shrink by 2,299.
The handset will be available at all authorised Tata Indicom retail stores across the country and will have a combination of pre-paid and post-paid plans, Tata Indicom said on Thursday.
rediffGURU Sunil Lala answers your MF-related queries.
Hatoyama is the first Japanese PM to visit India in 25 years.
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.
Most of the hirings are, however, in the entry or junior level.
Which were the five businesses Ratan Tata had great hopes for, but his successor failed to deliver?
At home, passenger and commercial vehicle sales have suffered from an environment of high interest rates and fuel prices in an economy growing at its slowest pace in a decade.
Trouble started brewing after Cognizant announced that Ravi Kumar, former Infosys president, would take over as the Nasdaq-listed company's CEO.
Tata-promoted Taj Hotels may decide to add the Nano to their line of chauffeur-driven cars used for guest transfers.
'A cutback in hiring and compensation growth by IT companies will have a significant impact on consumer demand, especially in the urban sector of the economy.'
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
Rs 275 cr payment to Tata Power (SED) blocked for putting Indian part
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years.
Among the Sensex firms, Axis Bank, Power Grid, Maruti, State Bank of India, Tata Motors, ITC, Nestle and Mahindra & Mahindra were the major gainers. Bajaj Finance and Larsen & Toubro were the laggards.
Singapore Airlines (SIA) is engaged in confidential talks with Tata Sons for merging Vistara with Air India, the flagship carrier of the Republic of Singapore informed the stock exchange in the Southeast Asian nation on Thursday in a first acknowledgement of a possible integration of the two airlines. "In line with its multi-hub strategy, SIA is currently in confidential discussions with the Tatas to explore a potential transaction in relation to the securities of Vistara and Air India. "The discussions seek to deepen the existing partnership between SIA and Tatas and may include a potential integration of Vistara and Air India," SIA said in a notification to the Singapore stock exchange. SIA owns 49 per cent stake in Vistara and is among the four airlines run by Tata Group.
Worth Rs 210,024 cr, it is Rs 1,100 cr shy of combined Rs 211,186 cr value of Tata Motors and M&M
He said COVID-19 can be a catalyst towards the adoption of digital technologies in health and education and drive change in a way that even venture capital funds have not achieved despite pouring billions in investments.
The tiny Nano car made by India's Tata Motors has been described by company director Jamshed J. Irani as having huge potential. Even as analysts claim that the Nano could rock the international auto industry and put millions of new Indian drivers on the road, Irani told The Washington Post in an interview that while Tata is producing only about 100 units a day at present, it hopes to ramp up to about 1,000 vehicles a day next year.
Tata Group shares were among the top losers while Adani Ports emerged as the top gainer
Shelving its expansion plans in Thailand and opting for fast-growing Indonesia, India's Tata Motors is in talks with a leading Indonesian automobile company to produce its popular no-frills Nano car.
When 'humiliated' Tata did 'favour' to Ford with JLR buyout!
The recent sell-off in IT stocks such as Infosys and Tata Consultancy Services (TCS) has resulted in a sharp decline in the IT sector weighting in the Nifty50 index. The sector's weighting in the index has slipped to a five-year low of 12.2 per cent, down from the 17.7 per cent at the end of March 2022. The top IT companies - TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra - accounted for 13.6 per cent of the index at the end of March this year.
Makers of cars and bikes posted missed results for August amid high inflation rate hike worries.
The gauge for the performance of informational technology (IT) stocks soared nearly 5 per cent-most in nearly three years-as growth worries eased following a robust order book posted by bellwether Tata Consultancy Services (TCS). The Nifty IT index rose 4.5 per cent to close at 30,945. This was the biggest single-day gain since September 14, 2020. Industry titan TCS' shares rose 5 per cent to Rs 3,509.
Tata Group-owned Air India has placed an order for 840 planes with Airbus and Boeing, including the option to acquire 370 aircraft, with a senior airline official on Thursday saying the order is a "landmark moment" in the Indian aviation history. The announcement by Air India's Chief Commercial and Transformation Officer Nipun Aggarwal comes a day after the airline said it has placed a firm order for 470 aircraft -- 250 from Airbus and 220 from Boeing. In a LinkedIn post, Aggarwal said the airline is humbled by the excitement generated across the world by the airline's aircraft order.
A naturally reclusive nature and a conviction for the work to do the talking meant there was very little known about Mistry even during his time at the helm of Tata Sons. He did not do a single media interview from Bombay House.
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
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.
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
India also went on an overdrive in expanding its military engagement with like-minded countries in its neighbourhood and beyond in the face of China's relentless attempts to become a regional hegemon and establish its primacy in South Asia.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
Both groups warn of initiating strict actions, issue public notices.
Tata Sons chairman N Chandrasekaran on Thursday said even though a "hybrid" model will be the new normal in future, India's largest software exporter TCS will ask employees to come to work once the pandemic is over as social interactions are a social necessity. "I do want to make the point that people need to meet people. It is a social necessity. "So, there will be a shift towards moving people to work when the pandemic gets over," Chandrasekaran, who also chairs TCS, said at the company's annual general meeting. At present, 97 per cent of the company's staff have been working from their homes because of the pandemic, he said, admitting that a "hybrid" model where people work from homes and also from offices will be the new normal.
He has the reputation of being a stable performer, more comfortable with details than the big vision. Shyamal Majumdar looks at what could work for Noel Tata in the race to succeed his half-brother, Ratan Tata.
ITC, Sun Pharma, Maruti, M&M, Tata Motors, HCL Tech, Wipro, Infosys, HUL, Bharti Airtel and Reliance were among the major losers. Kotak Bank rose the most by 1.59 per cent, followed by IndusInd Bank, Bajaj Finance and Bajaj Finserv. L&T, SBI, TCS and HDFC Bank also closed higher.
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