Benchmark Sensex closed above the 85,000 level for the first time while Nifty scaled the 26,000 peak at close on Wednesday as fag-end buying in banking and power shares helped stock markets recoup early losses. After a see-saw trade during the day, the 30-share BSE Sensex rose by 255.83 points or 0.30 per cent to settle at an all-time high of 85,169.87. During the day, it surged 333.38 points or 0.39 per cent to hit a record intra-day peak of 85,247.42.
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Since the early 1970s, the Tatas have presence in the city-state.
There was virtually no incremental equity investment by Tata Sons during Mistry's first two years
Among the 30-share Sensex blue-chip pack, Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, Titan, UltraTech Cement, HCL Technologies, and Power Grid, were the biggest gainers. Tata Steel, IndusInd Bank, JSW Steel and Bajaj Finserv were the laggards.
From the 30-share Sensex pack, Mahindra & Mahindra, Infosys, HCL Technologies, Adani Ports, Bajaj Finance, Tech Mahindra, Titan, Tata Consultancy Services, Reliance Industries and Power Grid were among the laggards. On the other hand, State Bank of India was the only gainer.
The market seemed enamoured with power sector stocks on Thursday as the Union Cabinet approved a bill that will lead to far-reaching reforms in the crucial sector.
With a shortage of 5,000 mw of power, all cities in Maharashtra face up to six hours of power cut and rural areas are in the dark for 16 hours daily.
Leading power players Reliance Infrastructure and GMR Energy believe this will help ensure coal availability for their mega projects in the pipeline. "They have various proposals on their table, which are relatively cheaper when compared to the scene before the beginning of the financial crisis. However, the acquisitions will depend on the ability of the acquirers to raise funds as the banks have stopped lending at cheaper rates," said a source.
Anand Dalvi and Akhtyar Khano suffered serious burns and were taken to St George Hospital, police said.
'We don't have to compete with Maharashtra or Gujarat. We have to now start thinking about how we compete with the United States or China.'
The 14 listed Tata group companies in which Tata Sons holds a stake are paying out a record Rs 35,441 crore to their shareholders by way of dividends and share buyback for FY21.
Reliance Energy Limited has outbid seven other companies, including Tata Power and GMR, to emerge as the top contender for building India's first fully independent private power transmission lines.
Tata group companies have outperformed the broader market over the past four years, under the chairmanship of N Chandrasekaran. However, the group's fortunes rely heavily on the performance of Tata Consultancy Services (TCS) now, as compared to the past. The combined market capitalisation of the group's listed companies has nearly doubled in the last four years, against a 77 per cent rally in the benchmark Sensex during the period. The overall market value of 16 key group firms - excluding listed subsidiaries of such entities - stood at Rs 16.8 trillion as of Friday. This was close to 2x the Rs 8.45 trillion as of February 21, 2017 - the day Chandrasekaran took charge as chairman of Tata Sons.
Tata Steel, Bajaj Finance, Mahindra & Mahindra, JSW Steel, NTPC, Adani Ports, Bajaj Finserv and Larsen & Toubro were also among the laggards. However, Power Grid, HCL Technologies, Infosys, Tech Mahindra, Tata Consultancy Services and ICICI Bank were among the gainers.
From the 30-share Sensex pack, Mahindra & Mahindra, Larsen & Toubro, State Bank of India, Reliance Industries, ICICI Bank and Bajaj Finance were the biggest gainers. JSW Steel and Infosys were the laggards.
From the 30-share Sensex pack, Adani Ports surged 6 per cent. NTPC, HDFC Bank, Bajaj Finance, Maruti and Axis Bank were among the other gainers. In contrast, Titan, State Bank of India, Asian Paints, Tata Consultancy Services, HCL Tech, Sun Pharma, IndusInd Bank and ICICI Bank were among the laggards.
Northern and western states had the highest power demand, with Uttar Pradesh sourcing 19,082 Mw, Delhi 6,029 Mw, Rajasthan 10,395 Mw, Gujarat 16,825 Mw, and Maharashtra 23,609 Mw.
Tata Group overall commands market capitalisation of over $125 billion
Proliferation of home chargers of around 7 KWh and above, which take six to seven hours to fully charge a car depending on the model, bring running costs down by a third or so. That, coupled with the increasing range of modern electric cars, can lead to a massive increase in sales.
Forty domestic companies, including the Videocon group, Jindal Power and Tata Power, have formed a group to convince the central government to allow private participation in generation of civilian nuclear energy.
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI's interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities. "On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8.
The push given to rooftop solar installation in the Interim Budget ties in with its high rate of adoption in Tier-II and -III cities of India. If original equipment manufacturers (OEMs) in the automobile industry, government, and the solar sector are to be believed, in cities of Rajasthan, Gujarat, and Kerala, 45-50 per cent of electric-vehicle (EV) users are employing rooftop power to charge their vehicles. This is compared to the national average of 25 per cent, say industry sources.
He said that as compared to global models costing 2.5 to 3 US dollars per hour usage, India's AI model will cost less than less than Rs 100 per hour (1.16 US dollars per hour) after 40 percent government subsidy.
'This is the Bengal story, where businesses are nurtured, dreams are realised, and legacies are built.'
Tata Group Chairman emeritus Ratan Tata expressed the confidence that India will re-emerge as an economic power.
The private discoms that join the scheme would only benefit in terms of operational efficiency and there will not be any financial bailout
Benchmark Sensex bounced back from early lows and closed higher by nearly 376 points on Monday, snapping its four-day losing run following a rally in blue-chips ICICI Bank, HUL and HDFC Bank. The 30-share BSE Sensex rebounded 375.61 points or 0.46 per cent to settle at 81,559.54. The index opened lower and hit a low of 80,895.05 points in early trade.
What would happen to the ownership after Ratan Tata? The succession plan for the 263,862 Tata Sons promoter shares owned by seven Tata Trusts and other holdings of Tata brothers? Would a younger family member inherit?
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
Analysts say Tatas could sustain their current pace of growth, provided the group's "cash cows", such as TCS and Tata Motors, continue to deliver.
The Street's optimism on India's largest listed automotive maker by market capitalisation is not misplaced, given the robust wholesale performance in recent months and the strong 2023-24 (FY24) October-December (Q3) results.
After making its entry into the Bombay Stock Exchange's benchmark 30-share index Sensex in May
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
Close to six months since the launch of Tata Neu, the super application (app) from Tata Sons Group is all set for a revamp. The highlights include a reimagined rewards programme or NeuPass, a more seamless user experience by increasing the digital maturity of brands, adding more brands to the platform, and hiring category leaders to drive the next phase of growth. When it comes to brands, Titan will join Tata Neu by Diwali. Tata Motors and Air India will be on board after the Festival of Lights.
The villagers, led by Budha Ismail Jam, along with several other farmers and fishermen, allege that coal-fired Tata Mundra Power Plant in Tunda village in Kutch district, has resulted in widespread environmental damages.
'The path beyond diesel is not going to be clear. It is really going to be dependent on applications.'
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
Delhi might be reeling under severe power crisis every summer, but still the capital has decided to bail out Mumbai this year by supplying 200 MW of electricity to the city.
