Tata Sons Ltd, the holding company of the $150 billion Tata group, may be forced to infuse fresh capital into its loss-making telecom arm, Tata Teleservices Ltd (TTSL). This is because TTSL has to pay Rs 19,256 crore adjusted gross revenue (AGR) along with other dues to the central government by March 2026.
Shares of Tata Group companies on Thursday rose up to 10 per cent, with Tata Chemicals and Tata Teleservices among the major gainers. Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday. He was 86. "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.
Rs 135.3 crore. How much of it was salary, and how much commission?
Tata Teleservices MD, Charles Anthony, has called it quits.
India's largest private conglomerate is looking to integrate some of its smaller businesses with their respective flagship companies, with a view to leveraging the value of the entities and increase cost efficiency.
Regulator wants price to be in line with Tata Tele valuation.
Newly-formed Tata Indicom Enterprise Business Unit, the sales and marketing initiative of the group's four telecom service providers, would soon have a new participant with VSAT provider -- Tata Net -- set to join the initiative.
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.
Tata Teleservices Maharashtra Ltd said on Friday that Ratan N Tata has been elected as the company's chairman. \n
Tata Teleservices on Wednesday announced outsourcing of its entire IT infrastructure management to group company Tata Consultancy Services, a deal estimated at over Rs 1,000 crore (Rs10 billion) over five years.
Concerned over the health of their telecom business, the Tata group has planned an investment of Rs 5,000 crore (Rs 50 billion) over the next 2-3 years while expecting the telecom ventures to come to the big league by around 2008.
Kishore A Chaukar has been appointed as non-executive director and chairman on the board of TTML, with effect from March 24, the filing said.
After Vodafone Idea, Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest amount on AGR dues into equity and post conversion, the government's holding in the company is expected to be around 9.5 per cent. The announcement of Tata Teleservices (Maharashtra) came within hours of Voda Idea also deciding to opt for converting the interest amount on AGR dues into government equity. In a filing to the BSE, Tata Teleservices (Maharashtra) said Net Present Value or NPV of interest is expected to be nearly Rs 850 crore as per the company's estimates, subject to confirmation by the Department of Telecom (DoT).
"The government has imposed a lot of regulations, and is not permitting major technological upgrade," Tata said.
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 the midst of the battle between the Tatas and Birlas over stake-holding in their telecom joint venture Idea
Confirming this, Chief Financial Officer S Venkatesan said that the company has passed an enabling resolution to raise around $200 million from foreign investors either through an FCCB or a private placement.
Tata Indicom, the umbrella brand of Tata group's telecom services, is all set to roll out its Wireless-Fidelity or Wi-Fi services in India, even as it has launched the service at five Mumbai-based Barista coffee outlets.\n\n
Tata Teleservices (Maharashtra) on Friday said Japanese telecom major NTT DoCoMo's open offer for a 20 per cent stake in the company has been deferred following a delay in approval from market regulator Securities and Exchange Board of India.
Funds will be raised via non-cumulative preference shares issued to Tata Sons on rights basis
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
The new card is priced at Rs 1,000.
Global communications major Motorola said on Wednesday that it has bagged a $43 million contract from basic operator Tata Teleservices for deployment of Code Division Multiple Access network in Maharashtra, Mumbai and Goa.
On 60th Independence Day, it is bonanza time for telecom subscribers with operators rolling out a range of services.
RCom and Aircel have permits for 3G services in 13 out of 22 service areas while Tata Teleservices has permit in 9 circles.
The deal between Bharti group and Tata Teleservices is yet another example of how swiftly things can change in business.
TTSL is now behind only Bharti Airtel, Reliance Communications and Vodafone, the company said in a statement.
Cyrus Mistry, who was replaced as chairman of Tata Sons last Monday, October 24, still serves as the chairman of Tata Steel, Tata Motors, Tata Consultancy Services, Indian Hotels, Tata Global Beverages, Tata Chemicals, Tata Industries and Tata Teleservices.
The CAG report, tabled in Parliament, states the interest on the short payment stood at Rs 1,052.13 crore for the period up to March 2016.
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