Tata Motors went ahead with mobilisation of construction equipment at Singur on Monday and enrolment of locals for work on the Rs 1,000 crore (Rs 10 billion) greenfield plant amid heavy security.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
With Onam and Raksha Bandhan just around the corner, the festival season is ready to kick off in full swing. As people embrace the celebratory spirit, companies anticipate a surge in sales this year. Consumer durables firms are expecting strong growth of 40-50 per cent in the premium segment during the upcoming season. Appliance makers also foresee increased demand for cooling appliances - refrigerators and air conditioners - which were impacted by unseasonal rainfall.
Tata Power Company, the largest private sector power player in the country, plans to divest part of its stake in group companies Tata Teleservices and Tata Teleservices (Maharashtra) to raise about Rs 2,000 crore for funding its ongoing projects, said informed sources.
After deciding to withdraw the Nano project from Singur in West Bengal in October last year, Tata Motors has sought 10 months time from West Bengal Industrial Development Corporation to remove the equipment.
A vendor said that Tata Motors had sent a mail that a meeting with the West Bengal commerce and industry secretary was scheduled for Thursday. Industry Secretary Sabyasachi Sen was not available for comment. However, WBIDC's public relations agency said that Sen had not sent any mail to vendors.
Tata Housing, a unit of Tata Sons, is advancing its plans to build 15,000 low-cost dwelling units by two years. Besides, it should add 300 more houses in its Mumbai project to take the advantage of demand for such homes, a top company official said.Tata Housing had earlier planned to develop 1,000 houses under the brand 'Shubh Griha' in Bhoisar, a distant suburb of Mumbai, priced at Rs 3.9-6.7 lakh.
AI implementation enabler Staqu will deploy its proprietary video analytics system JARVIS to count votes directly from the camera by monitoring the electronic voting machines screens at the counting centre.
The Indian Army, placing traditional weapons above high-technology, says that equipping the army's 800-plus combat units with a Battlefield Management System would cost an unaffordable Rs 500 billion to Rs 600 billion, reveals Ajai Shukla.
Reliance Infrastructure's 4,000-MW power project at Shahpur in Raigad district is facing legal hurdles on environmental ground
Tata Motors, which suspended work at the Nano plant in West Bengal's Singur in view of continued confrontation at the site early this month, has held talks with Gujarat Chief Minister Narendra Modi over relocating the facility to the state.
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.
Tatas' drive into Sanand area for their Nano project has given a major fillip to Mumbai-based real estate major K Raheja Corp to set up its support infrastructure projects in the area.
In an open letter to the people of West Bengal, Ratan Tata said the citizens should decide whether they wanted education and jobs in the industrial and hi-tech sectors or 'want to stay as they are.' The letter said, 'The people of West Bengal, particularly the younger citizens, will need to express their views and aspirations as to what they would like to see West Bengal become in the years ahead.'
Tata group chairman Ratan Tata on Tuesday virtually ruled out any investment in Singur and said the company would gladly return the land if compensated.
The new Bengal government is not ready to give over even half the required land.
The Tata group's investments in setting up a global institute like the cancer hospital and the Tata Motors project would be the forums for other investments in the state, said Tata.
The Tata Sons' chief said that world's reliance on China for sourcing goods will reduce, and India will definitely have an opportunity to participate.
In a bid to strengthen its footprint in the country's property market, Tata Housing Development Company plans to develop 200 lakh sq ft area of worth $3 billion (over Rs 12,500 crore) in the next 4-5 years.
Infosys on Thursday posted a 7.8 per cent year-on-year rise in consolidated net profit at Rs 6,128 crore in March quarter of FY23, and gave 4-7 per cent revenue growth forecast for FY24 amid macro economic uncertainities. The net profit (after minority interest) stood at Rs 5,686 crore in the fourth quarter of FY22. Seen sequentially, the net profit for Q4 came in 7 per cent lower.
The first-quarter performance of top IT services players, as well as mid-cap firms, has been subdued, reflecting macro uncertainties. The numbers of the top four firms show several misses, hinting at difficult times ahead. One mismatch is the total contract value (TCV) signed by the firms and the revenue growth registered.
The watch has been designed by multiple Tata Group companies
Terming Tata Motors Nano project as "very important for Bengal and industrialisation", CPI-M Politburo member Sitaram Yechuri was on Thursday hopeful that talks between the West Bengal government and Trinamool Congress on the issue would lead to a solution.
Even as the Tatas face problems in acquisition of land for a car manufacturing plant at Singur in West Bengal, the Orissa government has asked the group to consider setting up an automobile plant in the state.
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.
Tata Sons and Singapore Airlines (SIA), which recently received a no-objection certificate from the ministry of civil aviation to start a full-service airline (Tata-SIA Airlines), are in the process of securing an import licence for 20 Airbus A320 aircraft.
Chief Minister Arvind Kejriwal inaugurated the 'country's first smog tower' at Connaught Place in New Delhi on Monday and said it will prove to be a milestone and many such structures can be installed in the city if the pilot project yields results.
Adding to its list of Ford, Maruti, Hyundai, Toyota, Tata Steel now boasts of Nissan and Volkswagen as buyers of Tata Steel.
Tata Housing to take up around 13 projects for constructing homes for the old.
Ratan TataTata Group Chairman Ratan Tata has asked all group companies to do a reality check in view of the economic slowdown, expected to continue in the New Year.
Pranati Group of Industries is all set to enter infrastructure and housing projects in the country, backed by Rs 4000 crore (Rs 40 billion) funding from CRM International of the UK.
Tata Ryerson, a 50:50 joint venture between Tata Steel and US-based Ryerson Inc, is investing Rs 120 crore (Rs 1.2 billion) for the Tata Motors' small car project at Singur.
Tata Steel Ltd on Monday said it had signed an agreement with Australia-based AMCI Pty Ltd to acquire five per cent stake in Carborough Downs coal project.
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