TATA GROUP BISLERI STAKE
Tata Group wants continuity in top management of Air India post merger with Vistara
Tata Group will retain all top Air India executives post-Vistara merger. Wilson, Aggarwal, Sharma stay. Kannan returns to Singapore Airlines, Rajawat joins merged entity. AI hires, consults Boston Group, uses Hogan Test. Air India Express, AirAsia India form no-frills airline. Tata targets ₹15,532 crore savings. AZB handles legal matters; AI's brand identity remains until 2025.
Delhi HC upholds CCI's approval of Vistara-Air India merger
The Delhi HC has dismissed a petition challenging the Competition Commission of India's approval of the merger between Tata SIA Airlines and Air India. This decision, concerning the order passed last year, marks a significant step in the consolidation of these notable airlines.
DGCA greenlights harmonised training of Air India and Vistara
Air India gets approval from DGCA to harmonise operational procedures and manuals as part of Tata group merger. Focus on safety and efficiency in integrating four airlines into a single entity. Singapore Airlines to benefit from strengthened presence in Indian aviation market.
Record block deals! Dalal Street scores Rs 23,000 crore screamer, from a Voda assist
Indian stock markets hit a milestone with record block deals worth ₹23,000 crore, driven by Vodafone Group's stake sale in Indus Towers.
Vivo set to open ₹3,000-cr India facility in July
Chinese smartphone maker Vivo is set to inaugurate one of India's largest mobile phone manufacturing facilities next month, with an annual capacity of 120 million devices. The facility is being set up with an investment of over ₹3,000 crore.
Yield on Goswami Infratech’s Rs. 14,300 Cr NCDs rises from 18.75% to 22%
Goswami Infratech issued rupee-denominated zero-coupon NCDs to investors like Deutsche Bank, backed by group-level monetisation events for debt reduction.
- Go To Page 1
Old planes, lack of engineering capacity test Tata’s mettle to turnaround Air India
Customers flying on Air India flights to North America and Europe have been raising issues about frequent delays, broken seats or non-functional in-flight entertainment screens as the Tata group struggles to revamp the airline's fleet, some of which are 15 years old. The original aircraft for the delayed flight to San Francisco, had developed a technical snag. So, the airline had to tow a Boeing 777 which was parked under hot sun in Delhi’s 49 degree temperature. Air conditioning system in plane work.
Big Daddy LIC manages money nearly double the size of Pakistan's economy
LIC assets have exceeded Rs 50 lakh crore, marking a significant milestone and overshadowing Pakistan's GDP. In FY24, LIC reported a profit of Rs 40,676 crore and total premium income of Rs 4,75,070 crore. The company, with a market share of nearly 59% in the Indian life insurance sector, is now eyeing entry into the health insurance domain. Its market value has surged by nearly 52% in the past six months, making it the seventh-largest stock by market capitalization.
Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
GIC, Xander buy Allianz-Shapoorji Pallonji JV’s Hyderabad IT SEZ WaveRock for Rs 2,200 cr
In May 2023, ET first reported that global insurance and asset management major Allianz Group and Shapoorji Pallonji Group were looking to exit the IT Special Economic Zone (SEZ) property and that GIC had emerged as the frontrunner to acquire the 2.4-million-sq-ft asset.
Stocks in news: RIL, Hindalco, PNB Housing, Grasim, Tata Steel
State-run Indian Railway Catering and Tourism Corporation (IRCTC) reported a consolidated profit after tax (PAT) of Rs 284 crore, which was up 2% year-on-year.
Bluestone may turn unicorn in pre-IPO funding round
This funding round will more than double ominchannel jewellery retailer Bluestone's valuation from around $450 million in September 2023. Bengaluru-based Bluestone’s pre-IPO round is seeing interest from new and existing investors, encouraged by the Tata Group’s CaratLane deal where Titan bought out the founder’s (Mithun Sacheti) stake last year.
Disney said to sell 30% stake in Tata Play to Tata Group, valuing co at $1 billion
The deal came as the India’s media landscape is going through a major shakeup. Disney signed a binding agreement in late February to combine its India Unit with viacom 18 media pvt, creating an $8.5 billion entertainment giant that will have 750 million viewers and dominate the sector in the world’s populous country.
Noel Tata’s three children on five Tata Trusts' board seats
The Tata Trusts, overseeing the $150-billion Tata Group, have appointed Noel Tata's three children - Leah, Maya, and Neville - to the boards of its five philanthropic organizations. This move aims to introduce younger members into the leadership of the Trusts. These appointments mark the first time six members of the Tata family are actively involved in the Trusts, with Jimmy Tata and Noel Tata also holding positions on various Trust boards. Leah, Maya, and Neville have held managerial roles in Tata operating companies and will retain these positions alongside their new trusteeship responsibilities.
AI-Vistara merger: Fitment of over 7,000 staff to be complete in June
Air India CEO and MD Campbell Wilson along with Vistara CEO Vinod Kannan on Monday held a one-and-a-half-hour long townhall meeting with the employees of both carriers about the proposed merger.
Global chips battle intensifies with $81 billion subsidy surge
The concern over China’s rapid advances in key electronics turned into a full-scale panic during the pandemic because chip shortages emphasised the significance of these tiny devices for economic security.
International calls for iPhones made in India ring louder; Apple may hit Rs 1 lakh cr export mark in FY25
Apple exports a bulk of its total India production. In FY24, Apple’s total production in India touched $14 billion (Rs 1.2 lakh crore). The company’s exports crossed $10 billion (Rs 85,000 crore). Both these figures were the highest achieved by any company in India till date for a single financial year.
PFC seeks legal view on Shapoorji Pallonji promoters' Rs 15,000 crore loan ask
State-owned Power Finance Corp (PFC) is seeking legal counsel regarding the approval of a ₹15,000 crore loan to the promoters of the Shapoorji Pallonji (SP) Group, leveraging their 18.37% shareholding in Tata Sons as collateral. Earlier this year, the Mistry family, who are the promoters, proposed obtaining funds from the lender based on cash flows from their real estate business and their Tata Sons shares.
Temasek sells 10% stake in Tata Play to Tata Sons for Rs 835 crore
Tata Play, India's largest DTH firm with 21 million subscribers, has intimated the Ministry of Information and Broadcasting (MIB) about the change in shareholding, according to one of the persons, who did not wish to be identified. Under the DTH rules, licence holders are required to inform the ministry about a change in shareholding or partnership or foreign direct investment pattern.
Rekha Jhunjhunwala cuts stake in this Tata group stock and 4 others
Jhunjhunwala owned about 1.8% stake in Tata Communications towards the end of December quarter, pared the stake in the company by 0.3%, bringing the overall holding to 1.6% at the end of March quarter.
How Tata is putting the roar in the Make-in-India lion
Tata Group's strategic moves in high-tech manufacturing, including semiconductor investments and potential Pegatron acquisition, align with India's Make-in-India program. The Tata Group is poised for significant expansion in technology fields, with plans to inject over $120 billion into emerging business sectors and group focal points such as semiconductors, defense, electric vehicles, and Air India.
Tata Group in talks to acquire majority stake in Pegatron's Chennai iPhone factory
Pegatron in talks to sell Chennai iPhone unit to Tata. A person in the know said the transaction amount is set to be lower than that for the Wistron deal. Experts said Apple may want the deal closed as soon as possible because it wouldn't want any ownership confusion ahead of its annual launch.
Xcelerate acquires stakeholder communications consultancy Stirrup Communication
Stirrup Communication, boasting a current clientele of more than 250, ranging from the Tata Group to the Birla Group, specializes in ESG communications and corporate reporting.
Tata Technologies, BMW Group to form JV for software development
The venture will develop automotive software for automated driving and the dashboard system among other features, Tata Technologies said, but didn't disclose any financial details of the agreement.
Why is Tata Sons milking Rs 9,000 crore from its biggest cash cow TCS? 4 possible reasons
Tata Sons leverages TCS stake sale amid a bull run to capitalize on good valuation and high market value. Strategic cashing out allows debt reduction and circumvention of IPO listing.
Shapoorji Pallonji denies considering stake sale in Sterling and Wilson Renewable Energy to manage debt
Shapoorji Pallonji & Company (SPCPL) denied considering selling its stake in Sterling and Wilson Renewable Energy (SWRE) to meet financial obligations.
Tata Group considering buying Disney’s stake in Tata Play
The buyback discussions with Disney come after the American company signed a binding agreement in late February to merge its India unit with billionaire Mukesh Ambani’s media arm Viacom 18 Media Pvt., creating an $8.5 billion entertainment giant that will have 750 million viewers and dominate the sector in the world’s most-populous country.
View: India dealing with a British legacy problem for 200 years
India's managing agencies, a system for separating control from ownership, were outlawed in 1970. However, the vestiges of this old system continue to thrive in the form of company promoters who exercise control over boards. Promoters, typically founders, are named in annual returns and are required to hold at least 20% of the post-public-issue capital. Problematic promoters, such as Subhash Chandra and Shivinder Singh, have caused losses for their companies. To protect public shareholders, a novel idea is to outsource governance to board service providers.
Tata Tech IPO effect! Tata Investment Corporation shares rally 37% in 2 days
Shares of Tata Investment Corporation (TIC) have been on a winning run in the calendar year 2023 with the counter having doubled investors’ money on a year-to-date basis. The recent surge in the stock follows a value-unlocking exercise by Tata Motors in its subsidiary Tata Technologies through a Rs 3,000-crore IPO which opens on November 22.
Load More
