Tata Sons in strong financial position, says Chairman N Chandrasekaran

On Friday, Chairman N Chandrasekaran said, Tata Sons is in a strong financial position with adequate cash flows that can be used to support group companies and new growth initiatives and it is not looking to monetise investments to raise capital.

Chandrasekaran said, just like other companies and businesses, Tata Group is facing both challenges and opportunities arising out of the Coronavirus pandemic and the resulting economic situation. Following a Tata Sons board meeting, he said, “All our group companies are progressing well, responding to these challenges and opportunities, and we are confident they will emerge stronger.”

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The Tata Sons board would examine the possibility of fund raising by Jaguar Land Rover (JLR) and another possibility of bringing outside investors into both the automobile and steel businesses, said a source.

The focus would be to find a one-time solution for businesses that are facing a challenging environment because of the COVID-19 crisis, said an executive close to the development.

Investing Heavily in Flagship Businesses
“There are recent misinformed and completely unfounded rumours regarding the Tata Group in some sections of the print/social media,” the statement said. “These are malicious in their intent to undermine the performance of the Tata Group and discredit the chairman emeritus, Ratan N Tata. The group is well poised to capture new opportunities.”