'Tata Steel has doubled, Tata Motors has more than doubled, and Tata Chemicals too has more than doubled.' 'So, Cyrus Mistry was getting accepted by the market for bringing in the change that was good for the group companies.'
The S&P BSE Sensex and the Nifty50 have hit record highs amid the poll outcome-triggered bull frenzy at the bourses. Most analysts feel that the indices are on course to rise further over the next few months - till the general elections - albeit amid intermittent corrections - largely triggered by global developments. Bharatiya Janata Party's (BJP's) win in the three state elections of Madhya Pradesh (MP), Rajasthan and Chhattisgarh, analysts at Jefferies believe, reinforces the consensus expectations of a Modi win 2024 national elections with a greater likelihood of over 300 seats for the BJP.
India's Ratan Tata aims to transform his once-stodgy conglomerate into a global powerhouse. But can it thrive after he steps down?
Bajaj Auto was the top laggard in the Sensex pack, tumbling around 6 per cent, followed by M&M, Reliance Industries (RIL), Tata Steel, Tech Mahindra, SBI, Axis Bank and ICICI Bank. NSE Nifty tumbled 162.60 points or 1.36 per cent to 11,767.75.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'The Tata group will need for its new leader to show the same foresight and willingness to go against conventional wisdom at times to keep the group's aspirations high and uphold the values of innovation, ethics, corporate responsibility, trust and leadership that are frequently associated with the Tata name.'
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Ten of top 15 companies in 1991 were PSUs; now, there are only six. Their revenue share has also fallen from 86% to 45%
Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24). During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by PRIME Database. However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
At least three players including Monnet Ispat and the London-based Metdist Group have evinced interest in acquiring a majority stake in the state owned Manganese Ore India, initial bids for which closed on Monday.
Docomo has now moved the London Court of Arbitration.
Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24). During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by PRIME Database. However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year.
Corus spokesperson did not respond to an email query sent by PTI at the time of releasing the story. However, a senior company official said that direct and indirect job losses are imminent with closure of industrial operations, though he did not confirm to such a figure.
An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).
'He wanted to learn all the time.'
Broader market underperformed the headline indices
For innovation, Bharti Airtel and ICICI Bank are followed by Infosys, TCS and HCL Technologies in the top five. These are followed by Anil Ambani-led Reliance Communications, Wipro, Satyam, M&M and Hindustan Lever (now known as Hindustan Unilever in the order of their rankings.
Goldman includes Bajaj Auto Ltd and Tata Steel Ltd in its Asia-Pacific growth recovery group of stocks.
The 2019 list shows a 37 per cent jump in brand value for the Tata group, to $19.55 billion for 2019, the highest in the top 25.
In 2007, Essar had said it would set up a $1.8-bn unit in Minnesota, but scaled down from a full-scale taconite steel mill project to pellet plant after the 2008 financial crisis
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
To help UB raise above half the buyout cost of Rs 4,620 cr.
'Kindly advise about the following stocks. Can I hold or exit?'
According to a new survey conducted by consultancy major PriceWaterhouseCoopers, about 28 per cent of Indian financial services firms expect to buy stakes in European groups in the next five years and the same percentage intend to enter North America. "Overseas acquisitions by industrial groups such as Tata Steel, Hindalco, Tata Motors and Ranbaxy are clearly proving inspirational," PwC said in its report.
Even as Tata Steel mulls over its next move in the race for Corus Group, its rival suitor Companhia Siderurgica Nacional
'Enterprises have become more demanding in terms of their productivity expectation from their employees.'
Tata Power, the country's largest private sector power company, plans to foray into the shipping and logistics business in order to facilitate coal procurement for its power plants.
Two Indian steel tycoons - Ratan Tata of Tata Steel and NRI Lakshmi Mittal of global powerhouse Mittal Steel - have made it to the world's best CEOs list compiled by US stock market weekly Barron's.
Reliance joins a number of large companies, including the Essar and Adani groups, which are raising loans abroad as interest rates in India remain high.
The rating agency said it has affirmed and withdrawn long and short term Issuer Default Rating of 'BB' and 'B' and 'BB-' rating on Corus' Euro 800 million 7.5 per cent senior notes.
Companies write off investments, shed assets as initial projections go haywire
World champion Viswanathan Anand survived a scare against young Anish Giri of Holland before salvaging a draw in the 12th and penultimate round of the 73rd Tata Steel Chess tournament in Wijk Aan Zee.
India's Ratan Tata aims to transform his once-stodgy conglomerate into a global powerhouse. But can it thrive after he steps down?
Indian Hotels, Tata Steel, Tata Teleservices, Tata Motors, Tata Power need some immediate attention of the Tata Group chairman
India's Tata group, which plans to invest $2 billion in Bangladesh, wants to explore coal as a source of energy for its proposed steel and power plants in the country.
Tata Group ranks 13th, Reliance Industries 15th and Infosys 26th. Tata Group and Reliance Industries have been ranked ahead of American industrial conglomerate General Electric (17), German car manufacturer BMW (20), Japanese auto firm Honda Motor (22) and telecom major AT&T (23), among others. However, while the Tata Group slipped in ranking from the sixth place in 2008, Reliance Industries has improved on its previous year's 19th rank. Infosys was not in the list in 2008.
World Champion Viswanathan Anand played out a draw against Levon Aronian of Armenia in the eighth round to claw back to the top of the leaderboard in the 'A' group of 73rd Tata Steel Chess tournament at Wijk Aan Zee.
World Champion Viswanathan Anand played out an easy draw as black against World number one Magnus Carlsen of Norway in the seventh round of the 'A' group of 73rd Tata Steel Chess tournament at Wijk Aan Zee on Sunday.
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