India 's Tata group is moving to launch a full-service bank should restrictions preventing industrial groups from owning substantial stakes in banks be relaxed.
Tata Group is in discussions with some major international companies, including those from Taiwan, for its foray into the semiconductor chip business. The Union government had earlier tried to bring in Taiwanese manufacturers Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC) for chip manufacturing in India. A person close to the development said the Tatas have now opened a separate channel for a possible tie-up. Currently, India mostly imports chips, which are fabricated and assembled to put into various applications, including automobiles, renewable power, mobile phones, televisions, and other electronic items.
The ambitious Rs 1 lakh car by Tata Motors may be launched between 2007 and 2008 even as factors like inflation and cost of steel may make it difficult to maintain the price line.
Last year, she drove the Tata Motors' Nano factory out from West Bengal. Three days ago, Trinamool Congress chief and Railway Minister Mamata Banerjee turned down another Tata offer a donation of Rs 27,70,660 to her party from the Tata Sons Electoral Trust.
Top industrialists have expressed concern over the impact that worsening corruption has on their businesses and said there is no short-cut to becoming a billion-dollar company other than doing things the right way.
Tata Sons, the holding firm of the Tata group, and a few group companies have pledged part of their stakes in Tata Steel, Tata Power and Tata Teleservices (Maharashtra) to raise money for acquisitions and capital expenditure, according to disclosures made on Monday.On January 21, the Securities and Exchange Board of India made disclosure of pledged shares mandatory after it came to light that former Satyam Chairman B Ramalinga Raju had pledged almost his entire holding.
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).
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.
The new alliance will help the Tatas realise their long-cherished dream of flying abroad, while Singapore Airlines will get a foothold in the expanding Indian market
CNBC-TV18 News reports that it has been able to confirm that the insurance giant is firmly backing Tata Sons. There is thus no possibility that the insurer will exit the group.
Earlier, Holachef had raised a seed fund of Rs 2 crore or Rs 20 million from India Quotient in February 2015.
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.
Noel Tata likes to relax at his Alibaug beach home on weekends, but he is equally passionate about driving on the Mumbai-Pune Expressway at a speed of over 100 kilometres per hour.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
Ratan Tata was deeply involved in promoting a technology-oriented culture in the group
'This is the Bengal story, where businesses are nurtured, dreams are realised, and legacies are built.'
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.
Last year, the company had said it would raise $1 billion for its private equity fund by December 2011.
The new name would not have the Tata or the SIA name, confirmed a spokesperson.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
Government is pulling in different directions and we are not consolidating on government, says Ratan Tata.
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.
Singapore Airline along with its Indian JV partner have got clearance from the aviation ministry.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
The proposed issue of shares would be subject to approval of shareholders and regulatory authorities, the release added.
"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.
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.
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.
"After sinking in Rs 6,000-7,000 crore in the Nano till date, what is the result?"
'He was the most thoughtful corporate person I encountered.'
Tata Consultancy Services has taken action against six employees after finding them guilty of accepting favours from certain staffing firms in the appointment of contractual workers, Tata Sons chairman N Chandrasekaran said on Thursday. The largest IT services exporter is investigating the role of three more of its employees, Chandrasekaran said while speaking at the TCS annual general meeting in Mumbai. "We have banned six employees and also six companies," he said in response to questions from shareholders.
Regulator wants price to be in line with Tata Tele valuation.
A revamped Air India under the Tata Group will be a real challenge while new airline Akasa Air will be a far less competitive force for the next two-three years, IndiGo CEO Ronojoy Dutta said on Wednesday. Akasa Air, which is backed by former IndiGo president Aditya Ghosh, ace investor Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dube, got the no-objection certificate (NOC) from the Ministry of Civil Aviation on Monday.
"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 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.
