Tata Realty and Infrastructure Ltd, a 100 per cent subsidiary of Tata Sons Ltd, will invest Rs 3,500 crore (Rs 35 billion) in setting up an information technology Special Economic Zone at Taramani, Chennai. The project will have both commercial and residential projects.
Tata Motors is likely to have one more achievement to cheer about as it gets into the new financial year, when Thailand's Board of Investment (BoI) approves the company's proposal to make an eco-car. A BoI official in Bangkok told Business Standard that the internal approval meeting, scheduled for April 2, 2008, was likely to give its nod to India's third largest passenger car maker to manufacture the eco-car.
Sandipan Chakravortty, managing director, said the facility would have a capacity of half a million tonne, with construction to be completed within nine months of land being handed over to the company.
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.
Last year it was the transfer of Nano project and this year it is the scrapping of the IT park. Bengal's pre-Puja economic scene turned gloomy once again this time with the West Bengal government deciding to give up the ambitious information technology township plan at Rajarhat in Greater Kolkata.
India's corporate sector is likely to report a slowdown in revenue growth and earnings for the July-September 2023 period (Q2FY24), according to earnings estimates by brokerages, after the country's top listed companies posted higher than expected profits for the first quarter. The combined net profit of Nifty50 companies, based on brokerage estimates, is expected to have grown by 19.6 per cent year-on-year (Y-o-Y) to Rs 1.75 trillion in Q2FY24 - a sharp deceleration from 37.6 per cent Y-o-Y growth in the combined earnings of index companies in the April-June 2023 period. According to estimates, the combined earnings in the second quarter would be down 8.8 per cent on a quarter-on-quarter (Q-o-Q) basis and the lowest in the past three quarters.
To commence work on two projects, add Rs 3,000 crore (Rs 30 billion) of business Tata Realty and Infrastructure (TRIL), a wholly-owned subsidiary of Tata Sons, is foraying into retail and hospitality segments through a new subsidiary, TRIL Hospitality Services.
NRI businessman Prasoon Mukherjee, chairman, Universal Success Enterprises, said that the West Bengal chief minister, Buddhadeb Bhattacharjee was briefed about the status of the projects in the state. Universal Success is also investing in the projects. The main projects were the housing project under Kolkata West International City, the chemical hub of NKID, the power project of Universal Success and the motorcycle project to be undertaken by Mahabharat Motors.
'Nitish Kumar is fooling the people of Bihar.' 'He will not probe anything because if he does so, he will be trapped himself.'
The deal will give India's largest conglomerate indirect stakes in seven airports in India and abroad.
Power Finance Corporation, the nodal agency for ultra mega power projects, has extended the last date for accepting bids for Krishnapatnam project to October 24, sources said. Essar Power, Sterlite Industries, Larsen and Toubro, D S Construction, Japan's Sumitomo Corp and CLP-GMR combine are other companies believed to be in the qualified bidders list.
At a time when the automobile industry is eyeing a market of 2 million cars by 2010, various automobile projects of industry majors, including Tata Motors and Mahindra and Mahindra, are running behind schedule.
The gift from the Tata Trusts will allow Cornell to establish and expand partnerships with Indian scientists that build on its strength in applied agriculture research. The endowment will also be used to set up a scholarship fund to bring more Indian students, who may be discouraged by Cornell's price tag, to the university. The gift could eventually help support as many as 25 Indian undergraduate and graduate students at a time.
Some feel that Tata Steel has put these assets on the block only after exhausting all the options.
"After sinking in Rs 6,000-7,000 crore in the Nano till date, what is the result?"
By 2025, Uber projects that 25,000-30,000 cars -- or 12 to 16 per cent of vehicle additions -- would be EVs, reports Surajeet Das Gupta.
The aim of the project is to produce power through clean environment technology.
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Tata Value Homes, a 100 per cent subsidiary of Tata Housing, on Monday launched its exclusive e-commerce platform to sell flats and is eyeing up to Rs 1,000 crore (Rs 10 billion) revenue by FY2015-16.
Tata Power Company Ltd has signed a development agreement with Germany's Siemens Project Ventures GmbH to jointly bid for ultra mega power projects.
Tribals on Friday took out separate rallies in Orissa's Kalinganagar area, both in support of the Tata Steel project and against it, to mark the third anniversary of killing of 14 tribals in police firing.
"If need be we will move and relocated the Nano project elsewhere. Relocation will cost both the Tatas and the West Bengal government, but I will not bring my employees here if they will be beaten up," the Tata Group chairman said.
As part of other initiatives to connect with the people, the company is organising special training programmes for women in areas such as tailoring, hand gloves making, garments, food products and handicrafts.
As part of the partnership, about 1,000 homes across projects in cities like Mumbai, Pune, Ahmedabad, Bengaluru and Chennai will be put up for sale on Snapdeal.
Just when it was almost certain that the Tatas were pulling out the Nano project, the West Bengal Cabinet assured help and cooperation to Tata Motors and requested them to change their minds. The West Bengal Cabinet said after a meeting on Thursday that though the Nano project was not on the agenda, it came up for discussion following requests by ministers.
Mistry's strategy appears to be the opposite of the group's stance in the heady days of 2007
It is the first project of its kind in which a military aircraft will be manufactured in India by a private company.
The Tatas had earlier stated that it could return the land if compensation was offered. Tata Motors last year shifted its small car Nano project from Singur to Sanand in Gujarat after protest by local farmers and political parties.
Anil Ambani-led Reliance Power, which emerged as the lowest bidder for the 4,000 MW ultra mega power project at Krishnapatnam, will be awarded the contract in a few days.
The project of Reliance Energy with capacity of 4000 MW at Shahapur in coastal Raigad district is in progress and is expected to be completed by 2011, Maharashtra Legislature was informed.
Following the insertion of Corus Group on Tata Group's balance sheet, global credit rating agency Moody's has downgraded Tata Steel Ltd's corporate family rating from investment to speculative.
Mr Mitra, show me where is industrial development in Bengal: Tata
The partners intend to invest $2 million annually through the India Innovation Growth Programme for the entrepreneurs to develop technology-based solutions for the betterment of the society
It is raining mega investment in Orissa, but none of the big ticket projects have made any headway.
Will get Rs 830 cr, Rs 329 cr respectively to offset higher coal costs
Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
The Indian steelmaker, which bought the Mozambique project with Australia-listed Riversdale Mining, sees the mine as essential in ensuring it has a sustainable supply of coking coal.
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