From the Sensex basket, Asian Paints, Sun Pharma, HDFC Bank, Tata Consultancy Services, Axis Bank, Tata Steel, JSW Steel, Larsen & Toubro, ICICI Bank and Power Grid were the major gainers. Tata Motors dropped over 8 per cent despite reporting over three-fold jump in consolidated net profit at Rs 17,528.59 crore for the fourth quarter ended March 31, 2024. NTPC, Bharti Airtel, Titan, State Bank of India and Nestle were the other major laggards.
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.
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The nomination of cluster heads for defence, infrastructure and finance business is awaited.
By 2025, Uber projects that 25,000-30,000 cars -- or 12 to 16 per cent of vehicle additions -- would be EVs, reports Surajeet Das Gupta.
This is not the first EV that Mercedes would be making in India though. It has been making the EQS sedan here for the last 18 months, and has sold 500 units of the car.
The Nexon has received a stellar 5-star safety rating from Global NCAP, making it the first car from an Indian manufacturer to score so good on the safety front.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
Auto, pharma, IT, chemicals among sectors with significant reliance on UK and European nations with Tata Motors, Motherson Sumi, Tata Steel, TCS, Wipro, Infosys and Tech M among key names.
Tatas may look at selling part of its stake in couple of investments
Major carmakers, including Maruti Suzuki, Hyundai, Tata Motors on Friday reported growth in their passenger vehicle sales in June as semiconductor shortage woes showed gradual signs of easing out. Other manufacturers, Kia India, MG Motor India and Skoda Auto India also reported robust sales growth last month. Maruti Suzuki India (MSI) reported 5.7 per cent increase in total wholesales at 1,55,857 units in June as compared to 1,47,368 units to dealers in June 2021.
'Instead of ACs, the government should do something to increase our salary.'
The managing directors -- Rana Sinha of Tata Hitachi Construction Machinery Company, Dibyendu Bose of TM International Logistics Limited, Sandipan Chakravortty of Tata Steel Processing and Distribution Limited, Viresh Oberoi of mjunction, and Sanjiv Paul of Tata Metaliks -- met at Nabanna, the makeshift state secretariat. Finance and industry minister, Amit Mitra, was also present.
The company has also been exploring the possibility of opening a factory in Mexico.
Among the Sensex firms, State Bank of India, Infosys, Titan, Tech Mahindra, IndusInd Bank, NTPC, ICICI Bank, Power Grid, Reliance Industries and Kotak Mahindra Bank were the major laggards. On the other hand, Tata Motors, Nestle, Hindustan Unilever, Tata Steel, Bajaj Finance and UltraTech Cement were among the gainers.
According to a senior Tata Motors official, the company is taking aggressive steps to correct its product portfolio, with a more 'cleverly defined and targeted strategy'.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
John Elliott, the author of Implosion: India's Tryst with Reality, on his Riding the Elephant blog, says the sacking of Cyrus Mistry as chairman of Tata and Sons was in line with Ratan Tata's personal style of dealing with executives
'He was a practical person who ensured that he thought about the common man, animals, the fact that they have a life and they have to be respected.'
From the Sensex pack, State Bank of India, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, Reliance Industries were among the major laggards. Bucking the trend, auto stocks Tata Motors and Mahindra & Mahindra closed with gains.
The biggest spender was Tata Motors, with Rs 4,224.6 crore assigned under the R&D head.
The Ministry of Heavy Industries has approved 11 electric vehicle (EV) manufacturers, including Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, to receive incentives under the recently introduced Electric Mobility Promotion Scheme (EMPS) 2024. "A total of 11 firms have been granted approval under the EMPS, with several more under consideration," informed a senior official of the ministry to Business Standard. The scheme aims to sustain the growth in EV sales, replacing the Faster Adoption and Manufacturing of Electric Vehicles - II (FAME-II) scheme.
Unlike Ratan Tata's philosophy, Mistry cared about short-term gains. This is a Diwali gift for many
Mahindra is the latest among a clutch of other manufacturers that have been using services, fuel efficiency and packages as unique selling proposition. Sales of Mahindra's heavy trucks dropped to 3,427 units in the eight months from April to September.
The company is currently selling an average 2,000 units each month.
At an aggregate level, the late ace investor's portfolio that was valued at Rs 32,445 crore as on March 31, 2023 is now worth Rs 35,979 crore.
BS-VI emission norms and the COVID-19 lockdown impacted the dispatches.
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
Investors' wealth climbed Rs 3.20 lakh crore as markets staged a smart comeback on Wednesday after falling in the last eight trading sessions. The BSE Sensex rallied 448.96 points or 0.76 per cent to settle at 59,411.08. During the day, it jumped 513.33 points or 0.87 per cent to 59,475.45.
What would happen to the ownership after Ratan Tata? The succession plan for the 263,862 Tata Sons promoter shares owned by seven Tata Trusts and other holdings of Tata brothers? Would a younger family member inherit?
In a ruling which can have far-reaching consequences, the Supreme Court on Wednesday set aside the controversial acquisition of 997.11 acres of land in Singur in 2006 by the then Left Front government in West Bengal to set up Tata Motors' ambitious Nano car manufacturing plant.
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
"Nano is like an open canvas for us. We have the option of positioning it on the lines of the (Volkswagen) Beetle or the (BMW) Mini."
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
The CPI-M leader was the chief minister of the state from 2000 to 2011.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Supply chain constraints will keep plaguing automobile companies even though demand significantly improved resulting in a 13 per cent year-on-year (YoY) increase in sales in financial year 2021-22 (FY22). Executives at auto firms fear that the Russia-Ukraine war will further dent the sector's prospects of recovery as supply chains face more disruptions. "The visibility in the supply side is so hazy that it is difficult to give even one quarter projection. But all the parameters of demand like pending bookings and enquiries are increasing.
The list of companies skipping dividends in FY19 includes some of the country's largest firms and industry leaders such Tata Motors, Avenue Supermart, Future Retail and Vodafone Idea, among others.
The watch has been designed by multiple Tata Group companies
The branding exercise is estimated cost Rs 100-200 crore to the Tata Group.
