Tejas Networks, a telecom and network firm, on Thursday said an arm of Tata Sons will acquire controlling stake in it for nearly Rs 1,890 crore in a multi-step deal. The company has executed definitive agreements with Panatone Finvest, a subsidiary of Tata Sons (Tata group holding firm), it said in a statement. As part of the agreement, the company will make a preferential allotment of 1.94 crore equity shares at a price per equity share of Rs 258 per share aggregating to Rs 500 crore to Panatone.
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.
After facing significant flight disruptions recently, Vistara CEO Vinod Kannan on Thursday told the airline staff that the "worst is behind us" and operations have already stabilised. Pilot woes have forced the Tata Group airline to temporarily cut down capacity by 10 per cent or 25-30 flights daily. While acknowledging that things should have been planned better, Kannan said it has been a "learning experience".
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.
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
Provisioning for bad investments, finance costs shoot up in FY14.
Google provides the training material in local languages.
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
Tatas' best bet would be to find an insider who understands the systems, say headhunters
Chandrasekaran served TCS for three decades as it rose to become the largest IT company in the country and also the crown jewel for Tata Sons
Seth has been named by six women including model Diandra Soares, filmmaker Natasha Rathore and writer Ira Trivedi.
Two full-fledged semiconductor fabrication plants are going to come up in India very soon entailing multi-billion dollar investment besides several chip assembly and packaging units, Minister of Electronics and IT Rajeev Chandrasekhar said. In an interview with PTI, the minister confirmed that the two projects include a $8 billion proposal submitted by Israel-based Tower Semiconductors and the other from Tata Group. "I am happy to share this with you and you are probably the first one I'm sharing this with.
Maruti Udyog Ltd has been rated the 'most trusted' passenger car company of the country, according to a survey by global research firm TNS.
Can the launch of smartphones under its own brand name by Finnish company HMD Global - despite having a licence to use the Nokia brand which it bought from Microsoft - help it regain its once dominant position in the mobile phone sweepstakes in India, where it was once routed? In 2009, Nokia was the country's largest MNC with revenues of $4 billion and a market share touching 80 per cent in 2010. After this, its fortunes fell. Although it had been the first global player to set up an assembly plant, not only to assemble phones for the local market but for exports, it had to shut down operations in 2014.
Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth. He also said that in the rapidly changing world order, India is moving forward as 'vishwa mitra' (friend of the world). Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state hea
In absence of hard facts, the group risks losing public trust, says the firm, which has investment from the Tatas
Famous and long believed to be trusted Indian brands have wilted against foreign brands, says Mohan Guruswamy.
His presence matters more than the money he brings.
His investment in Paytm is in his personal capacity.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
While consumer electronics, technology, mobile phones, auto and sports-wear categories dominate the top 20, FMCG has only one entry in the list
Earlier, Holachef had raised a seed fund of Rs 2 crore or Rs 20 million from India Quotient in February 2015.
'Isn't it obvious? Do you have a doubt? There is so much data that shows that there is quid pro quo.' 'There are many instances of donations being given after the raids, donations being given before the award of a contract and many other permutations and combinations.'
'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.'
Completing a year at the helm of one of the biggest conglomerates of the country, Cyrus Mistry definitely seems to have retained the trust of his investors, a new survey said.
The facility has been branded 'Indicash'. Last month, TCPS secured a licence from the Reserve Bank of India to launch white-label ATM operations, under the central bank's scheme 'B'.
Ratan Tata, the 71-year-old Indian industrial patriarch whose Tata group now owns Jaguar and Land Rover, had personal experience of the importance of Jaguar's "heritage"during a visit to the British company in mid-July.
Relatively new brands of HUL, such as Closeup, play second fiddle to other legacy brands such as Colgate from Colgate-Palmolive and Vicco.
The price movement and trading volumes for few days prior to Mistry's ouster will also be looked into
'And he was really trying just to do the best by the shareholders, and by the laws of India.'
Experts say the impact is limited to investors and potential employees and may ease out in the next few months
'Why should we disclose classified information to satisfy those who doubt our Hydrogen Bomb capability?'
What could be the reason for this swift change in less than four years of Mistry taking charge? People in the know said it was building up. The latest trigger was Tata Power's acquisition of Welspun Renewables' solar and power assets
The Tata group will fund new political entrant Aam Aadmi Party based only on its performance in the upcoming general elections and not before.
The ground floor of the three-storey Ram temple in Ayodhya is in its final stages and the work on ancillary structures is going on in full swing for their completion by October this year, the temple authorities said on Monday.
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Since the early 1970s, the Tatas have presence in the city-state.
Tata Group overall commands market capitalisation of over $125 billion
'The deal pipeline across products is robust for 2024.'
Amid concerns over alleged poaching of pilots, Air India told Akasa Air that petitioning a competitor to collude in restricting the rights of staff to change an employer could potentially violate the competition law. Air India CEO and managing director Campbell Wilson wrote a letter to Akasa Air CEO Vinay Dube against the backdrop of Akasa Air raising concerns about Air India Express hiring pilots from the airline. The letter, dated September 21, followed a letter by Dube to Tata Sons on September 11.
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