Tata Sons-owned Infiniti Retail, which runs electronics and durable stores under the Croma brand, is expecting a turnover of Rs 2,000 crore (Rs 20 billion) from its newly launched online venture in two years. Cromaretail.com, the chain's e-retail venture, on Monday went live in 319 cities across 24 states.
Making a strong case for approval of their proposed airline JV, Tatas and Singapore Airlines have said that the venture would create significant job opportunities in India and would boost the country's image as an international investment destination.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
Maharashtra Deputy Chief Minister Devendra Fadnavis on Sunday said he has asked the state police to conduct a detailed investigation into the accident in which former Tata Sons chairman Cyrus Mistry was killed.
NBFCs with a proven track record, supported by the brand values of reputed corporate, can play a key role in bringing the benefits of banking and economy to the underserved and newer segments of India.
Bombay House turns evangelist for new Tata products.
"We want to live in an environment where we love our fellow men. We don't shoot them, we don't kill them. We don't hold them hostages but give a bit of ourselves and we give and take," Tata added.
Congress leader Rahul Gandhi on Thursday said Prime Minister Narendra Modi thinks that the Constitution of India is 'blank' because he has never read it.
The problem, says Chandrasekaran, arises from the lack of access to services, including healthcare, education and financial services.
The company needs Rs 2,000 crore more in 2 years to repay debt.
Tata has invested in over 10 start-ups in personal capacity.
The fund is to invest in income generating assets such as malls, office complexes among others.
Virtually addressing employees of Air India across the globe, he said for the airline to be the best again there will be an organisational redesign, and it will "require a huge transformation, probably the largest transformation and the change all of you would ever go through". The carrier will expand its "outreach both domestically and internationally" and it has the desire to connect India with every part of the globe, he added.
Ratan Tata, Chairman Emeritus of the Tata Group, on Sunday said ace investor Rakesh Jhunjhunwala will always be remembered for his acute understanding of the markets as well as for his jovial personality, kindness, and foresightedness. Jhunjhunwala, often referred to as 'India's Warren Buffett', passed away here Sunday morning due to a cardiac arrest. He was 62. Jhunjhunwala had investments in more than three dozen companies, the most valuable being watch and jewellery maker Titan, part of the Tata conglomerate.
The voting rights with the promoter will ensure the interests of the promoter family as well as minority shareholders are protected in future, said corporate governance advocates and corporate lawyers.
Perhaps, the group's leadership position and potential in the retail segment prompted Tata Sons Chairman Cyrus Mistry to identify retail as one of the group's four growth clusters in his recent Vision 2025 statement.
Kant, an alumnus of IIT-Kharagpur, was managing director of the company before being promoted as vice-chairman five years ago.
The Tata Group-run Air India has banned smoking and consumption of intoxicating substances at the workplace and any employee violating this order will be "dealt with appropriate consequences", the airline's Chief Human Resources Officer (CHRO) Suresh Dutt Tripathi has stated. It was not clear what was the trigger for Wednesday's communique. Air India did not respond to PTI's request for statement on this matter.
With the FIPB giving approval to the Tata-Singapore Airlines joint venture to start a full-service carrier, Tata Group Chairman Emeritus Ratan Tata on Friday met Commerce and Industry Minister Anand Sharma.
The deal, which is expected to close in the next four to five weeks, will give exit to investors Alibaba, Abraaj Group and IFC. The parties are awaiting approval from the Competition Commission of India (CCI).
Tata made personal investments in four companies last year.
One hundred years from now, of course, I expect Tata to be much bigger and more global than it is now.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
At the end of last quarter, Tata Sons held 144,34,51,698 total shares or 73.75 per cent stake in TCS, out of which 7,95,00,000 shares were pledged.
'As Tata Steel we will obviously use group-level leverage to make progress where we want.'
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
The Delhi high court on Thursday dismissed BJP leader Subramanian Swamy's plea seeking to set aside the Air India divestment process on the allegation that the methodology adopted by the government in the valuation of the national carrier was "arbitrary, illegal and against public interest". The order was passed by a bench of Chief Justice D N Patel and Justice Jyoti Singh. The court said a detailed order will be uploaded. "Dr. Subramanian Swamy, sir we are dismissing this matter...," the bench said.
The company, which is a leading player in the Indian wearables market, is backed by angel investors like Shriram Nene and his wife and Bollywood actress Madhuri Dixit Nene and WhatApp's Neeraj Arora
As per information available with the Corporate Affairs Ministry, the new company was incorporated on November 5 with a total paid up capital of Rs 500,000 and has been registered in New Delhi.
Tata Housing to take up around 13 projects for constructing homes for the old.
Full service carrier Vistara will continue to expand and expects to have a total of 70 planes by mid-2024, its chief Vinod Kannan said on Tuesday. The airline, a joint venture between Tata Sons and Singapore Airlines, reported an operating profit for the first time since inception in the three months ended December 2022. By the middle of next year, Kannan said it will have a total of 70 aircraft, including 7 Boeing 787s.
Though Mistry does not make it to the club of the top 10 highest paid India Inc leaders, he will be among the next 10.
For the AI bid, Interups has joined hands with a few employees of the airline, and plans to raise funds by splitting some of its infrastructure-related assets into an aviation InvIT, which will have underlying assets such as air routes, ground handling, repairs, and training etc.
To deliver on strategy that late Slym was executing.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
Far from public glare, company is investing in tech firms and providing consultancy.
Ratan Tata-led interim management of Tata Sons is seeking to oust Mistry from his positions in the operating group firms, including IHCL and Tata Motors
"We are waiting for any input from any quarter," Civil Aviation Secretary R N Choubey said, adding, "We have not received anything so far".
MUrgency is slated to launch services in Amritsar and Jalandhar in the last week of May and cover the entire state by June end.
