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.
In a major initiative, the Tatas on Tuesday announced a joint venture with the Star group for providing direct-to-home services in India, a venture that is estimated to involve an investment of over Rs 300 crore (Rs 3 billion).
The new name would not have the Tata or the SIA name, confirmed a spokesperson.
Last year, the company had said it would raise $1 billion for its private equity fund by December 2011.
Government is pulling in different directions and we are not consolidating on government, says Ratan Tata.
Tata Infomedia Ltd, now controlled by ICICI Ventures Fund, has sold its entire holding in Titan Industries to Tata group entities, including Tata Sons, for Rs 15.1 crore.
Following the horrific terror attacks in Mumbai that have left more than 100 people dead and 300 injured, Ratan Tata, chairman Tata Sons and of Indian Hotels Co Ltd -- which owns the Taj group of hotels -- has condemned the killing of innocent people.
Ratan Tata created India's first truly multinational business group. As he prepares to step down, the bar's been raised sky-high for his successor.
Stating that his role is for the short term so as to ensure stability and continuity at the group, Tata asked top executives of the USD 100 billion conglomerate to act as leaders in respective markets and focus on enhancing returns to shareholders.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
Singapore Airline along with its Indian JV partner have got clearance from the aviation ministry.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
"After sinking in Rs 6,000-7,000 crore in the Nano till date, what is the result?"
Ratan Tata has got over Rs 1 crore as compensation for serving as an independent director on the board of NYSE-listed Alcoa Inc during 2012.
"The Tata Group has had a long and fruitful association with Vaishnavi Corporate Communications and its chairperson Ms Niira Radia, which has added substantial value to the group's communications and public perception," a spokesperson of the group's holding company Tata Sons said in a statement.
The Tata empire turns 150 this year. R Gopalakrishnan, former director, Tata Sons Ltd, imagines a conversation among the group's founder Jamsetji, his son Dorabji, his successor, Nowroji Saklatwala, and his successor, J R D Tata.
The proposed issue of shares would be subject to approval of shareholders and regulatory authorities, the release added.
Regulator wants price to be in line with Tata Tele valuation.
"We expect the total debt of the Tata Group as of the end of FY'09 (ending this month) at over Rs 1 trillion, of which Rs 11,700 crore (Rs 117 billion) is due through March 2010," analysts at domestic brokerage unit of financial major Kotak group said.
Leverage ratio falls to under 1; but group heavily dependent on TCS & Tata Motors.
'The Budget needs to focus more on social welfare schemes.'
A high-level three-member committee is formed to grow awareness about fraudulent job offers.
Veteran industrialist Ratan Tata, who headed Tata group whose iconic hotel in Mumbai was one of the sites of the 26/11 terror attacks, on Thursday penned a heartfelt tribute saying the wanton destruction that took place 12 years ago will never be forgotten.
The rural BPO centre will be established by the Tata Business Support Services -- the BPO wing and a wholly-owned subsidiary of Tata Sons -- in partnership with Tata Steel Rural Development Society -- a corporate NGO managed by the Tata Group for the last 60 years. To start with, it is expected to employ around 200 people. Sources close to the development said the company has already recruited the first batch of the executives for the BPO unit.
The country's leading commercial and passenger vehicles manufacturer Tata Motors Limited on Tuesday ruled out the possibility of looking for a new partner in the UK after the tie-up with MG Rover Group snapped.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
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.
'Wherever the businesses are not up to the size of the Tata group, Cyrus Mistry initiated actions to move out of those businesses.'
On Friday, shares of Tata Motors rose by 2.68 per cent and Tata Steel went up by 1.85 per cent on the Bombay Stock Exchange.
Tata Consultancy Services, the $73 billion IT group, is India's biggest company by market value and four times the size of any other listed Tata entity
Tata Sons chairman Ratan N Tata has expressed the fear that the current political uncertainty will make India stumble
The Supreme Court has said that Cyrus Mistry's removal as executive chairman of Tata group was justified as a "a person who tries to set his own house on fire for not getting what he perceives as legitimately due to him, does not deserve to continue as part of any decision-making body".
Shapoorji and Pallonji Group to contest Cyrus Mistry's ouster from Tata Sons
According to sources in the state government, Tata Sons chairman Ratan N Tata is expected to be in town on June 2 and the plant will be inaugurated by Gujarat Chief Minister Narendra Modi.
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