Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
Company chief Tony Fernandes said the name of Chairman for AirAsia India board would also be disclosed soon
Fourteen per cent of the $16 billion invested by Ratan Tata in M&As abroad has been written off by his successor.
Dealers of Tata Motors in most parts of the country have stopped placing orders for this small car in the last three-four months and the showrooms are displaying contemporary models such as Tiago, Tigor, Hexa and Nexon.
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.
Tata Steel plans to invest nearly Rs. 600 crores on limestone deposits in Oman.
The $100 billion Tata group conglomerate is a major beneficiary of the decision to open up aviation in India.
JLR is developing its own autonomous car technologies, which could one day trickle into Tata's more affordable people carriers.
Tata Motors goes about giving shape to its Rs 1 lakh car project, Kolkata-based Global Automobiles announced on Friday that it too has plans, albeit for a car that costs even less than Rs 1,00,000.
With their balance sheets under stress, private companies have lost interest in them.
Bombay House turns evangelist for new Tata products.
Tata Motors was allotted 1,000 acres of prime agriculture land at the Pantnagar industrial estate in the hope that the company would set up its dream Nano project in Uttarakhand. It has now agreed in principle to allot 50 acres more to the auto giant. Tata Motors is seeking 100 acres for housing purposes. Meanwhile, suspense continues over the Nano project being shifted to the hill state.
Concerned over the health of their telecom business, the Tata group has planned an investment of Rs 5,000 crore (Rs 50 billion) over the next 2-3 years while expecting the telecom ventures to come to the big league by around 2008.
Vistara'a launch, the steel plant at Kalinganagar and e-commerce venture are the ones most awaited for
Move follows Tata Steel decision to sell its loss-making businesses in Britain
The Tata-Fiat combine's plant at Ranjangaon, Maharashtra, may see huge capacity additions as new models line up to go under production at the site.
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
Jamshedpur plant is expanding its capacity at a cost of Rs. 20,000 crore.
Benchmark equity indices Sensex and Nifty closed higher by more than half a per cent on Wednesday following buying in IT, financial and oil stocks after the RBI slowed down the pace of interest rate hikes. Ending its two-day slide, the 30-share BSE Sensex rebounded by 377.75 points or 0.63 per cent to close at 60,663.79 with 24 of its constituents posting gains. The broader Nifty of the NSE spurted by 150.20 points or 0.85 per cent to settle at 17,871.70, riding on a rally in Adani Enterprises, Adani Ports and HDFC Life.
The Ambani brothers, Mukesh and Anil, came together on Thursday to raise the issue of stalled projects plaguing India Inc and implored the Maharashtra government and the Centre to make Mumbai, India's financial capital, an easier place for business and investments. "Several projects are stuck for many years in Mumbai and we would like to know how the government intends to improve the financing and execution of projects, including those relating to infrastructure and education which have been in limbo for long and are affecting the growth of the city," Reliance Industries Ltd (RIL) Chairman Mukesh Ambani told Finance Minister Arun Jaitley. Seated on the same table was his brother, apart from Tata Group Chairman Cyrus Mistry and State Bank of India (SBI) Chairman Arundhati Bhattacharya. Jaitley was addressing the Mumbai Next MMR Transformation conclave, organised by the Maharashtra government and Mumbai First here, through video conference. In his reply, Jaitley said the government was exploring several options of infrastructure financing in India and that a number of international bodies were ready to fund infrastructure development projects. He added the government was keenly considering these funding sources. While praising Maharashtra Chief Minister Devendra Fadnavis for honesty, Jaitley also had a word of advice. Apart from being honest, the government had to be decisive, he said. On his part, Reliance Group Chairman Anil Ambani told the chief minister about his experience of decisions being delayed due to an indecisive bureaucracy and the need to protect officials who wanted to take quick decisions. "Through the past many years, we have faced a number of obstacles in decision-making," he said, adding he was speaking as someone who had lived and invested in Mumbai. Fadnavis responded by saying he would bring about a transparent process to ring-fence officials. Both the Ambani brothers have announced a number of infrastructure projects in and around Mumbai, including a world-class convention centre in Bandra Kurla Complex by RIL, but very few have actually fructified. RIL's special economic zone project failed to take off due to land acquisition problems in Raigarh, while a second SEZ near Mumbai is stuck due to lack of clarity in SEZ norms. The first phase of the Mumbai Metro, set up by Anil Ambani's Reliance Infrastructure, was marred by cost overruns and run-ins with the government over fares. Subsequently, the company withdrew from the second and larger phase, citing inordinate delay. Anil Ambani also withdrew from Mumbai's sea link project on the same grounds. The brothers had also bid for a trans-harbour sea link between Navi Mumbai and Mumbai under the Congress-Nationalist Congress Party government, but their bid was rejected. Reliance Infrastructure is also the power supplier to more than half of this city. Participating in the conclave, some of India Inc's leading bankers said making Mumbai a financial hub would take at least a decade. SBI's Bhattacharya said the Indian currency should be made fully convertible and facilities should be created for it. "However, for this, the economy needs to look up and that will happen only in the next 7-10 years, not immediately," she added. Sunil Kaushal, Chief Executive Officer of Standard Chartered, India, pitched for strong infrastructure to support development. "We will take a long time to develop into a global financial centre. We need to solve transport bottlenecks in Mumbai and have lifestyle facilities for people working in and around these areas," he said.
'We have not seen too many large deals compared to last quarter.'
The Orissa government has approved four projects in the steel and power sector involving investment worth Rs 7,225 crore.
The company has been in discussions with vendors who are moving from Singur to Sanand to support them with mutually acceptable terms, which will be implemented.
Undeterred by the scepticism shown by Maruti, the Tatas on Friday said they were working on the concept of the proposed entry-level car with Rs 100,000 price tag.
Soon after bagging a contract to assemble trucks in Russia, India's biggest bus and truck maker Tata Motors on Wednesday said it has been shortlisted in a bid to supply 150,000 mini buses (taxis) to South Africa.
The Tata Group has decided to defer its plan of setting up a rural business process outsourcing unit near the proposed steel plant at Kalinganagar in Orissa by two years.
Strong macroeconomic headwinds causing turbulence in the $245-billion Indian IT industry are yet to calm down. Top Indian IT services companies are likely to post a decline or just marginal growth in sequential revenue in Q1FY24 because of a soft discretionary spending environment. Though the first quarter is seasonally strong for IT firms, "June 2023 will be an exception", according to analysts at Kotak Institutional Equities.
The company took five years to sell the 250,000 units of the Nano.
At Rs 1.196 per unit, power tariff reaches new bottom.
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Strategy might not help revive volume growth in passenger vehicle sales.
'The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India's economic prowess,' Prime Minister Modi said in a tweet.
...followed by financial services, IT, and sales and marketing.
In all likelihood, the next conventional Chinese attack on India would be preceded by a massive cyber attack designed to cripple Indian networks and interfere with our disaster-relief programmes.
Tata Power is evaluating opportunities to make another overseas acquisition of a coal mine. A senior company management executive said the company was planning to zero in on smaller mines. Prasad Menon, managing director, Tata Power, said: "We are evaluating various opportunities."
Maruti Suzuki is set to launch a new multi-purpose vehicle (MPV) -- Invicto -- next month. It will be the company's first passenger vehicle with an ex-showroom price tag of Rs 20 lakh or more, said Shashank Srivastava, executive director (sales), on Tuesday. The upcoming MPV will compete with the likes of Toyota Innova Hycross, Kia Carnival, Hyundai Alcazar, MG Hector Plus, Tata Safari, Mahindra & Mahindra XUV700, and Mahindra & Mahindra Scorpio-N - all having three rows of seats. Invicto will be based on the Hycross by Toyota, which will manufacture Maruti's most expensive car at its Bidadi plant in Karnataka.
The Tata project will directly and indirectly create about 10,000 jobs
Indian and global construction companies vying for Rs 12,000 crore worth of civil works for Dedicated Freight Corridor.
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