The proposed issue of shares would be subject to approval of shareholders and regulatory authorities, the release added.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
"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?"
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 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.
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.
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
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.
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.
A high-level three-member committee is formed to grow awareness about fraudulent job offers.
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.
'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.
Tata Sons chairman Ratan N Tata has expressed the fear that the current political uncertainty will make India stumble
'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.
Business tycoon Ratan Tata feels that it is better to give 'equal opportunities' to all and create a level playing field instead of extending reservation benefits in the private sector.
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.
Tatas have joined hands with state refiner Indian Oil and exploration firm Oil India Ltd to consider bidding for acquiring Caspian Energy Group LLP's (CEG) interest in an Azerbaijan oil field.Tata Petrodyne Ltd, a wholly-owned subsidiary of Tata Sons, has joined the IOC-OIL combine to make a bid to buy CEG's 51 per cent stake in the Shivran Oil Operating Company that runs the Kyurovdag oil field in Azerbaijan, industry sources said.
'Wherever the businesses are not up to the size of the Tata group, Cyrus Mistry initiated actions to move out of those businesses.'
Tata Sons Chairman Ratan Tata will inaugurate a two-day national summit on Corporate Social Responsibility in Chennai beginning from June 14.
While the Investor of the Year award went to Tata Sons, the Business Partnership of the Year went to DLF Laing O Rourke, the Innovation of the year was HRS Process Systems and Benoy was the New Market Entrant of the Year.
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
Mitra said that Tata group firm TCS was creating additional 20,000 jobs.
Docomo has now moved the London Court of Arbitration.
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 Sons chairman Ratan Tata on Tuesday expressed hope that the West Bengal government would be able to acquire land for its ambitious Rs 1 lakh car project in the state.
The Tata group companies are now more valuable than all the listed central public sector undertakings (CPSUs) or companies in the country. The key 20 listed Tata companies ended the 2021 calendar year with a combined market capitalisation of Rs 23.36 trillion, ahead of the 70 listed CPSUs, which had a combined m-cap of Rs 23.2 trillion. In comparison, these CPSUs had a combined market capitalisation of Rs 16.7 trillion at the end of December 2020 against the Tata group firms' combined m-cap of Rs 15.7 trillion.
"The car should be out some time in 2008. It is in the prototype stage and prototypes are running. Its cost will be somewhere between a motorcycle and a car," Tata said in an interview to The Week magazine.
Indian business conglomerate Tata Sons has said that it was keen on being a part of Bangladesh's economic development
'This is the Bengal story, where businesses are nurtured, dreams are realised, and legacies are built.'
