TATA | Business Upturn

Tata Power restores Trombay Unit 5, resumes 500 MW power supply to Mumbai

Matrika Shukla — Thu, 06 Feb 2025 11:56:51 +0000

Tata Power has successfully restored Unit 5 (500 MW) at its Trombay Thermal Power Station, ensuring a steady power supply to Mumbai after a fire disrupted operations in September 2024. The restoration, completed in a record four months, reinforces Tata Power’s commitment to providing reliable electricity to the financial capital of India.

A fire in the cable vault on September 23, 2024, had temporarily halted operations at Trombay Unit 5. However, Tata Power’s dedicated team, working in coordination with fire safety authorities, quickly contained the incident, assessed the damage, and executed an efficient restoration plan.

The power plant, which has been a key pillar of Mumbai’s electricity infrastructure since 1956, remains vital for the city’s energy security, especially ahead of the upcoming summer season when electricity demand peaks.

Trombay Thermal Power Station has played a crucial role in Mumbai’s energy landscape for decades. It was home to the city’s first thermal power station (62.5 MW) in 1956 and has since expanded with eight more units between 1960 and 1997.

Unit 5 is India’s first 500 MW multi-fuel generating unit, featuring an engineering marvel—a 150-meter-high chimney, then a record in India. Today, Trombay has a total installed capacity of 930 MW, making it one of Mumbai’s most critical power supply sources.

Beyond Trombay, Tata Power operates three hydroelectric power plants in the region with a total capacity of 447 MW. These hydro plants play a crucial role in balancing peak demand and supporting renewable energy integration, further solidifying Tata Power’s diversified energy portfolio.

With Unit 5 now fully operational, Tata Power is focused on integrating advanced technologies to ensure uninterrupted power supply to consumers. The company remains committed to strengthening system reliability as Mumbai prepares for the summer demand surge.

As one of India’s leading integrated power companies, Tata Power operates a diverse 15.6 GW generation portfolio, with 6.7 GW from clean energy sources, accounting for 43% of its total capacity. The company is actively working toward achieving carbon neutrality before 2045 while serving over 12.5 million customers nationwide.

This swift restoration of Trombay Unit 5 reaffirms Tata Power’s ability to manage energy crises efficiently and reinforces its position as a trusted power provider for Mumbai.

Tata Consumer Q3 FY25 results: Revenue jumps 21.7% YoY to Rs 3,200 crore, net profit rises 99.6% to Rs 569.81 crore

Matrika Shukla — Thu, 30 Jan 2025 12:02:59 +0000

Tata Consumer Products Limited (TCPL) has reported a strong financial performance for the quarter ending December 31, 2024, with substantial growth in both revenue and profitability.

The company’s consolidated revenue for Q3 FY25 stood at ₹3,200 crore, marking a 21.7% increase from ₹2,629 crore in the same quarter last year. Net profit saw an impressive jump of 99.6%, reaching ₹569.81 crore compared to ₹285.48 crore in Q3 FY24.

This significant growth reflects TCPL’s strategic focus on expanding its product portfolio, enhancing operational efficiencies, and leveraging strong brand positioning in the market. The company continues to drive innovation and market expansion, ensuring sustained performance in the coming quarters.

These results were approved by the Board of Directors in a meeting held on January 30, 2025.

Tata Consumer Products Limited (TCPL) is a leading FMCG company and a part of the Tata Group, specializing in food and beverage products. It owns iconic brands such as Tata Tea, Tetley, Tata Salt, Tata Sampann, and Tata Soulfull, catering to both Indian and international markets. With a strong presence in over 40 countries, TCPL has been expanding its portfolio through innovations and strategic acquisitions. The company focuses on sustainable growth, digital transformation, and premiumization to strengthen its leadership in the food and beverage industry.

Watch: Diljit Dosanjh pauses Germany concert to pay heartfelt tribute to Ratan Tata

Aditya Bhagchandani — Thu, 10 Oct 2024 07:29:54 +0000

During his ongoing Dil-Luminati World Tour in Germany, singer Diljit Dosanjh took a moment to pay tribute to the late Ratan Tata, the former chairman of Tata Sons, who passed away on October 9, 2024. The 86-year-old industrialist’s death has left the nation mourning the end of an era in India’s business world.

In a touching gesture, Diljit paused his concert and addressed the crowd in Punjabi and Hindi, paying his respects to Ratan Tata. A video capturing this moment has gone viral, with the singer acknowledging Tata’s remarkable life and legacy. “Ratan Tata never spoke ill of anyone. He always worked hard, did good work, and helped people,” Diljit shared with the audience. He emphasized the importance of learning from Tata’s life, stating, “If there’s anything to learn, it’s that we must work hard, think good, and help others.”

Diljit Dosanjh stopped his concert in Germany midway to pay his tributes to #RatanTata who passed away last night.

This is the legacy of the man, Beyond the billions and trillions that he had, this is what he actually earned ♥️ pic.twitter.com/hczhRozvU0

— Roshan Rai (@RoshanKrRaii) October 10, 2024

Diljit’s tribute to Ratan Tata resonated deeply with the crowd, as he highlighted how Tata lived a life “without blemish.” The singer, currently touring across Europe, will soon bring his performances to India, starting with two shows in Delhi on October 26-27.

Ratan Tata, who was known for his humility and leadership, passed away at Breach Candy Hospital in Mumbai. His death marks a significant loss for India, with tributes pouring in from various corners of the world.

Shri Ratan Tata’s loss leaves a void than can never be filled: LIC CEO Siddhartha Mohanty

Aditya Bhagchandani — Thu, 10 Oct 2024 07:24:57 +0000

Siddhartha Mohanty, CEO & MD of Life Insurance Corporation (LIC) of India, paid tribute to Ratan Tata following the news of his passing. In a heartfelt statement, Mohanty acknowledged Tata’s immense contributions to Indian industry and his dedication to upholding the legacy of the Tata Group.

Ratan Tata, the former chairman of Tata Sons, passed away on October 9, 2024, at the age of 86, leaving behind a legacy that shaped India’s industrial landscape. Known for his humility and leadership, his death marks the end of an era for a family that has been at the forefront of India’s business world for generations. As the nation mourns Ratan Tata’s passing, it’s important to reflect on the Tata family’s contributions that have spanned over a century.

“Shri Ratan Tata, an icon of Indian industry and a global figure of benevolence and vision, dedicated his life to transforming the Tata legacy into a powerhouse of ethical business practices, innovation, and philanthropy,” said Mohanty. He highlighted how Tata’s leadership left an indelible mark on industries across the globe and created a legacy that will continue to inspire future generations.

Tribute to Padmavibhushan Sir Ratan N. Tata#RatanTata pic.twitter.com/s4HzDalgpy

— LIC India Forever (@LICIndiaForever) October 10, 2024

LIC extended its deepest condolences to Tata’s family, friends, and the countless individuals whose lives he touched, noting that while his loss leaves a void, his spirit will remain a source of inspiration for all.

Who is Maya Tata? The potential heir to India’s Tata empire

Aditya Bhagchandani — Thu, 10 Oct 2024 00:15:25 +0000

Maya Tata, niece of the renowned industrialist Ratan Tata, is emerging as a potential heir to one of India’s most prestigious business empires, the Tata Group. At 34, Maya has already made significant strides within the Tata organization, positioning herself as a promising successor to continue the family’s legacy.

Family Legacy
Born to Aloo Mistry and Noel Tata, Ratan Tata’s half-brother, Maya’s family is deeply entrenched in the fabric of India’s corporate landscape. On her maternal side, Maya is linked to the influential Mistry family. Her mother, Aloo Mistry, is the sister of the late Cyrus Mistry, former Chairman of Tata Group, and her grandfather, Pallonji Mistry, was one of India’s most prominent industrialists. This unique blend of Tata and Mistry heritage enhances Maya’s deep-rooted ties to the Tata Group.

Educational and Professional Journey
Maya Tata’s academic background is impressive. She studied at Bayes Business School and the University of Warwick, where she gained the skills necessary to excel in global business. Her career began at the Tata Opportunities Fund, where she focused on portfolio management and investor relations. Her ability to handle strategic investments showcased her potential as a leader within the Tata Group.

Following her tenure at the Tata Opportunities Fund, Maya transitioned to Tata Digital, where she played a pivotal role in launching the Tata Neu app. This digital platform aimed to integrate various Tata services, marking a major step in the group’s digital transformation.

Philanthropy and Healthcare Contributions
Beyond her corporate work, Maya Tata also serves on the board of the Tata Medical Centre Trust. This trust oversees a prominent cancer hospital in Kolkata, inaugurated by Ratan Tata in 2011. Maya’s involvement in the trust underscores her dedication to philanthropy, a core value of the Tata Group. As one of six board members, she helps guide the hospital’s operations and ensure that it continues to provide high-quality care.

Future Prospects
Maya Tata’s trajectory within the Tata Group, combined with her educational background and family ties, positions her as a potential leader of the empire. Her work across multiple Tata entities, including her strategic role in Tata Digital and contributions to healthcare, reflects her readiness to carry the Tata legacy forward.

As the Tata Group continues to evolve, Maya’s leadership could prove pivotal in ensuring the organization remains a global leader in innovation, integrity, and social responsibility. With her family’s legacy behind her and her own growing influence, Maya Tata is poised to shape the future of the Tata empire.

These Tata group stocks surged with over 500% returns in five years

Aditya Bhagchandani — Sun, 18 Aug 2024 18:48:49 +0000

Tata Group stocks have shown remarkable growth over the past five years, delivering substantial returns to investors. Eight of these stocks have seen their value increase by over 500%, reflecting the strong performance of the conglomerate across various sectors.

Key Highlights:

TTML (Tata Teleservices Maharashtra Ltd):
- Return: 3206%
Automotive Stampings:
- Return: 2411%
Trent:
- Return: 1364%
Tejas Networks:
- Return: 1244%
Tata Elxsi:
- Return: 1009%
Tata Motors:
- Return: 808%
Tata Investments:
- Return: 645%
Tata Power:
- Return: 645%

These figures highlight the impressive growth potential within the Tata Group, with some stocks like TTML and Automotive Stampings delivering returns above 2000%. This performance showcases the group’s resilience and ability to create value for its shareholders across diverse industries.

Understanding the Returns:

TTML: Telecom sector growth has been a significant factor in TTML’s outstanding return of 3206%.
Automotive Stampings: This company has seen a surge in demand for automotive components, leading to a 2411% increase in stock value.
Trent and Tata Elxsi: Retail and technology sectors have contributed to the strong performances of Trent (1364%) and Tata Elxsi (1009%).
Tejas Networks and Tata Motors: Both companies have benefited from advancements in telecommunications and the automotive industry, leading to returns of 1244% and 808%, respectively.
Tata Investments and Tata Power: These stocks have shown steady growth, each delivering 645% returns, reflecting the group’s solid investment and energy sectors.

The impressive returns of these Tata Group stocks illustrate the group’s dynamic approach to business, which has consistently rewarded its investors.

Tata’s Rs 27,000-crore chip plant in Assam to be operational by 2025: N Chandrasekaran

Aditya Bhagchandani — Sat, 03 Aug 2024 13:54:44 +0000

Tata Electronics’ ambitious Rs 27,000-crore chip assembly plant in Assam is set to create 27,000 jobs and is expected to become operational in 2025. This announcement was made by Tata Sons Chairman, N Chandrasekaran, during the Bhumi Pujan ceremony of the plant.

Key Highlights

Job Creation:
- The plant will generate 27,000 jobs
- 15,000 direct jobs and 12,000 indirect jobs
Operational Timeline:
- Expected to be operational by mid-2025
Strategic Location:
- Located at Jagiroad, with access to abundant water and green power
- Close to semiconductor hubs in Taiwan, Malaysia, Vietnam, and Singapore

Facility Details

First of Its Kind:
- India’s first indigenous semiconductor assembly and test facility
- Focus on wire bond, flip chip, and integrated systems packaging (ISP)
Investment and Growth:
- Investment of Rs 27,000 crore
- Expected to boost hi-tech manufacturing in India
Technological Focus:
- Aimed at serving global demands in AI, industrial, and consumer electronics

Inauguration Ceremony

Participants:
- Chief Minister Himanta Biswa Sarma and N Chandrasekaran
- Rituals performed amidst chanting of hymns by priests from different parts of the country
Statements:
- Chandrasekaran expressed eagerness to accelerate the building of the factory
- Best wishes conveyed from Ratan Tata to Assam residents

Impact on Assam

Economic Boost:
- The project will transform Assam’s industrial landscape
- Herald a new era of growth in the region
Government Support:
- Thanks to Assam CM Himanta Biswa Sarma and Union Minister Ashwani Vaishnav for expediting the project
- Envisioned under the Centre’s semiconductor policy driven by the India Semiconductor Mission and Assam’s electronics policy

Facility Phases

First Phase:
- Expected to be operational by mid-2025
- Focus on three key platform technologies with plans to expand to advanced packaging technologies in the future

The Tata semiconductor assembly and test facility at Jagiroad will play a crucial role in meeting the growing global demand for semiconductors and will significantly contribute to the industrialization of North-East India.

Table: Key Metrics

Metric	Details
Investment	Rs 27,000 crore
Job Creation	27,000 (15,000 direct, 12,000 indirect)
Operational Date	Mid-2025
Key Technologies	Wire bond, flip chip, ISP
Strategic Location	Jagiroad, Assam
Economic Impact	Boost to industrialization in North-East India

The Tata chip plant in Assam marks a significant milestone for India’s semiconductor industry. With substantial investment and job creation, it promises to boost the region’s economy and position India as a key player in the global electronics supply chain.

Tata to launch four electric vehicles by FY26; Everything we know so far

Aman Shukla — Tue, 11 Jun 2024 06:22:19 +0000

Many electric cars are being created by Tata Motors for the Indian market. The Curvv EV and Harrier EV will make their debut in FY25, the company has stated. Then, Tata Motors will introduce the Avinya and Sierra EV vehicles in FY26. Additionally, by FY30, the company hopes to increase the number of public chargers in its network from over 10,000 to over 1 lakh. By FY30, the number of chargers in the community would increase from 4,300+ to 1 lakh.

Tata Motors has also stated that high energy density batteries with fast charging capabilities will be used in the vehicles. Tata will provide all-wheel drive drivetrains and high-performance electric motors.

New displays with EV-specific user interfaces will be installed in the electric cars. In-car apps, connected car technologies and OTA upgradability would all be supported by the vehicles. In addition, Tata will include driving modes, frunk and vehicle-to-vehicle charging and vehicle-to-load options.

Tata Motors introduces new entry-level variants for Nexon

Aman Shukla — Sat, 11 May 2024 07:32:56 +0000

Tata Motors has announced new entry-level models for the Nexon, which will reduce its starting price. The decision comes only days after rival Mahindra’s XUV 3XO (XUV300 facelift) was introduced in India. The current starting price for the petrol Tata Nexon is Rs 8 lakh, while the diesel variants start at Rs 10 lakh.

Smart (O), a new entry-level model of the Nexon petrol, is now available for Rs 8 lakh. This model costs Rs 15,000 less than the previous base variant, Smart. The new models have been introduced to compete with the XUV 3XO’s lower variants, which start at Rs 7.49 lakh.

Tata Nexon diesel has two new variants: Smart + and Smart + S. The former is the new entry-level model, priced at Rs 10 lakh, and the latter costs Rs 10.60 lakh. With the release of the new versions, the Nexon diesel’s base price has dropped by Rs 1.10 lakh.

The compact SUV has not been mechanically changed. The 1.5-litre diesel engine in the Nexon delivers 115 hp and 260 Nm of torque, while the 1.2-litre turbo-petrol engine makes 120 hp and 170 Nm. A 5-speed manual, a 6-speed manual, a 6-speed AMT and a 7-speed dual-clutch automatic are the available transmission options.

The Nexon comes with a 10.25-inch touchscreen, a similarly-sized completely digital driver’s display, a wireless charger, ventilated and height-adjustable front seats, cruise control, a 9-speaker JBL sound system with a subwoofer, a voice-activated electric sunroof and many more features. The safety system includes six airbags, hill-start assist, ESP, TPMS and a 360-degree camera, among other features.

Tata Altroz Racer to be launched in June 2024; What to expect

Aman Shukla — Sat, 11 May 2024 05:36:23 +0000

Tata will finally debut the Altroz Racer in India next month. The sportier variant of the Altroz hatchback has been seen twice before: once at last year’s Auto Expo and again at this year’s Bharat Mobility Show, with somewhat different styling.

The 1.2-liter, three-cylinder, turbo-petrol engine that powers the Nexon will also power the Altroz Racer, producing 10hp and 30 Nm more than the Altroz iTurbo. The Racer will most likely be available with a 6-speed manual transmission.

The bonnet and roof of the Altroz Racer will feature twin racing stripes in addition to a two-tone paint scheme. It will also get new alloy wheels, a slightly modified grille and “Racer” badging on the front fenders. The hatchback is anticipated to include new leatherette upholstery with dashboard details in several colours and contrast stitching.

A big 10.25-inch touchscreen, segment-first ventilated front seats, a 360-degree camera, a heads-up display and a voice-assisted sunroof are among the features that will be available.

Tata Altroz Racer’s expected price

The Tata Altroz iTurbo is priced between Rs 9.20 lakh and Rs 10.10 lakh, but taking into account the Altroz Racer’s flagship positioning, it will most likely cost between Rs 10 lakh and Rs 12.52 lakh. It will compete with the Hyundai i20 N Line, as well as the Maruti Fronx and Toyota Taisor’s turbo-petrol models, depending on price.

Check: Top EV car manufacturers in India

Aditya Bhagchandani — Fri, 19 Apr 2024 10:01:16 +0000

India is moving head towards an electric vehicle revolution. There are several top electric vehicle (EV) companies promoting green vehicles, which means using limited or no use of fuel and minimum carbon emissions. There are EV cars, bikes, buses and trucks available. The number of EV companies increasing as the booming numbers of green lovers and entrepreneurs.

India’s EV ecosystem is rich and varied. The EV companies are the key players in the entire industry creating a wide array of appealing, eco-friendly EVs that satisfy a consumer’s requirements and minimize the transportation sector’s carbon footprint.

EV Car Manufacturers –

Tata Motors

Tata Motors is the largest automotive company in India. They launched both Nexion EVs and Tigor EVs. It was India’s 1st Ziptron technology-powered EVs.

MG Motor India

MG Motor India is one of the emerging market leaders in the field. It has launched the ZS EV, the 1st truly high-performer electric SUV. It has a 461 km range on a single charge which is the best mark of average running.

There is a wide variation in the number of EV companies between players, the technology they use and the segment they serve. All these entities are working on developing and marketing electric vehicles to reduce fuel and emissions. They are also developing new models and buses to operate in Indian cities. There are huge business opportunities and job creation in this field that the government should encourage and support.

There are two main players in the market of EVs in India, such as Mahindra Electric Mobility, a subsidiary of the Mahindra Group, and Hyundai which is known for its Hyundai Kona electric vehicle and other models. While the first company is a pioneer in terms of electric vehicle production in India, the second one is a popular petrol car brand worldwide, which made the first steps in the manufacturing of EVs.

Mahindra Electric Mobility offers several models for the market and the most demanded ones are e2oPlus with a range of 140km and high reliability characteristics and eVerito designed for the commercial segment of the Indian market.

Its products are sustainable and innovative and both the company’s mission and its public image fit into the environmentalist ideology. Hyundai, on the other side, has implemented several models of electric vehicles, which can be seen now as the environmentally-friendly leaders within the country, such as Kona Electric and IONIQ 5, providing a lot of technology and great range, as well as being attractive from the design perspective. Being once one of the green remaining companies in the Indian market, right now Mahindra is losing its position in the national market compared to Hyundai.

The electric vehicle is a new paradigm in the automotive industry of India. As an innovation, the EVs are a sustainable and eco-friendly alternative to the traditional motorcars powered by fossil fuels.

Tata Investment Corp shares drop 5% after block deal; 5th straight day of lower circuit

Aditya Bhagchandani — Fri, 15 Mar 2024 06:20:38 +0000

Tata Investment Corp Ltd slipped 5 percent on full-volume each, and the stock hit the lower circuit after a significant block deal had been observed. A total of 35 crore shares of the company changed hands in the block deal, but the buyers’ and sellers’ names have not been made public.

The stock recorded its fifth straight 5 percent lower circuit trading session this morning and has now dropped 22.6 percent during the period.

At 11:00 a.m., the stock traded at Rs 7,540.15, down 5% from the previous close.

The year-to-date change is now over 76 percent, compared to a 0.66 percent decline in India’s benchmark Sensex to 72,611.98 points. Tata Investment Corporation was founded in 1937 and is headquartered in Mumbai. Established in 2008 as a subsidiary of Tata Sons Pvt Ltd, it is a non-banking financial company. Tata Sons and other Tata Group entities hold about 73.38% of its capital.

Tata Group firms’ stocks have been on a volatile trend after they initially soared in anticipation of Tata Sons’ IPO and subsequently fell amid rumours that the IPO may be postponed. Following speculation of Tata Sons’ IPO, several of these group firms had prices climb as much as 36 per cent.

Tata Sons is designated an “upper layer” non-bank financial company and must be listed three years after the Reserve Bank of India’s notice of listing, which occurred in September 2023, therefore prompting Tata Sons to list by September 2025. As a result, Tata Sons is looking at several options to enact the RBI provisions.

Tata Neu app partners with Air India, offers exclusive rewards

Matrika Shukla — Thu, 22 Feb 2024 11:38:21 +0000

Tata Group’s foray into the digital realm takes another significant leap as Air India joins its app, Tata Neu. In a recent announcement via social media, Tata Group revealed that passengers booking Air India flights through Tata Neu will now enjoy exclusive benefits, further enhancing the allure of this burgeoning platform.

One of the standout perks for travellers is the opportunity to earn 5% NeuCoins on their Air India bookings. With each NeuCoin equivalent to Rs 1, passengers stand to gain substantial cashback rewards. For instance, a Rs 10,000 Air India ticket booked through the Tata Neu app would yield a generous Rs 500 cashback, adding value to the travel experience.

The integration of Air India into the Tata Neu ecosystem marks a strategic move aimed at consolidating Tata Group’s presence in the digital space while enriching customer experiences. By offering enticing rewards, Tata Neu aims to incentivize customers to utilize its platform for their travel bookings, fostering brand loyalty and engagement.

Moreover, the utility of NeuCoins extends beyond just travel-related expenditures. Customers can leverage their accumulated NeuCoins to make purchases across a diverse array of categories, including electronics, fashion, travel, hospitality, groceries, and pharmacy, both online and in-store. This versatility underscores Tata Neu’s commitment to providing a holistic and rewarding shopping experience to its users.

The expansion of Tata Neu’s partner network to include Air India underscores the platform’s growing prominence in the digital landscape. With over 60 million cumulative downloads and a staggering 75 million members enrolled in its NeuPass rewards program, Tata Neu has firmly established itself as a force to be reckoned with in the realm of super apps.

This integration builds upon Tata Neu’s existing partnerships with prominent Tata Group entities such as Air Asia, Indian Hotels, Titan, Tanishq, and Westside, which have already embraced the platform since its inception in 2022. By fostering collaboration across its diverse portfolio, Tata Group continues to leverage synergies to create compelling value propositions for consumers.

As Tata Neu continues to evolve and expand its offerings, the addition of Air India serves as a testament to its commitment to innovation and customer-centricity. By empowering users with rewarding experiences and seamless access to a myriad of services, Tata Neu reaffirms its position as a frontrunner in the digital revolution reshaping the way we live, work, and travel.

Tata Motors stock surges nearly 3% with winning streak, hits record high amidst anticipation for strong Q3 performance

Aditya Bhagchandani — Wed, 31 Jan 2024 07:15:52 +0000

Shares of Tata Motors have sustained their winning streak for the fifth consecutive session, with the stock soaring over 10 percent and reaching a new pinnacle of Rs 896.50 on January 31.

The noteworthy surge in Tata Motors’ stock can be attributed to the robust sales performance in its luxury segment, Jaguar Land Rover (JLR), during Q3. Additionally, the company’s announcement of a forthcoming price hike for its passenger vehicles has instilled optimism about a robust Q3 financial performance. Investors eagerly await the release of the Q3 earnings on February 2.

As of 10:00 am, Tata Motors’ shares were trading 1.9 percent higher at ₹875.25 on the NSE.

This remarkable rally has not only propelled Tata Motors’ market capitalization to Rs 295,534 crore but has also positioned it as the most valuable automobile company in India, surpassing rival Maruti Suzuki. Moreover, Tata Motors stands out as the sole participant in the Nifty 50 index that doubled its value in the year 2023, underscoring its exceptional performance in the market.

Investment Potential: Tata Consumer Products share analysis and financial insights

Finance Desk — Wed, 17 Jan 2024 02:51:11 +0000

Tata Consumer Products Limited (TCPL) stands out as a prominent Indian consumer goods company, offering an extensive array of products ranging from tea and coffee to water and snacks. With a robust presence in both India and international markets, TCPL has consistently experienced steady growth.

According to the Annual Report 2021-22, TCPL demonstrated impressive financial performance. The company’s revenue from operations surged by 23% to reach Rs 14,293 crores in FY 2020-21, a notable increase from Rs 11,601 crores in the previous fiscal year. Additionally, the company’s Profit After Tax (PAT) saw a significant uptick, rising by 33% to Rs 1,931 crores in FY 2020-21, compared to Rs 1,452 crores in FY 2019-20. These figures emphasize TCPL’s commendable financial trajectory.

Tata Consumer Products Limited (TCPL) has maintained a strong position in the market as well. As of January 16, 2024, the company’s share price stood at Rs 1,143.70 with the earning numbers expected on 19th January 2024. The consistent positive performance of TCPL shares underscores the company’s resilience and success in the competitive consumer goods market.

Further, TCPL is set to acquire Capital Foods, owner of the brands Ching’s Secret and Smith & Jones, and Organic India, a company that sells organic herbal teas and health foods. The acquisition is consistent with Tata Consumer’s strategic intent to expand its product portfolio and its target addressable market.

Tata Consumer Products Limited has not only exhibited robust financial performance but has also seen commendable performance in the stock market. With a diverse product portfolio and a solid presence in both domestic and international markets, TCPL presents itself as an attractive investment option for those seeking long-term growth opportunities. The company’s ability to navigate market dynamics positions it as a leading player in the Indian consumer goods sector.

Tata Motors secures CMVR type approval for India’s first green hydrogen fuel cell EV bus

Mahita Jain — Tue, 12 Dec 2023 10:26:13 +0000

In a pioneering milestone for India’s automotive sector, Tata Motors Ltd. has been granted the Central Motor Vehicles Rules (CMVR) Type Approval certificate for its groundbreaking Model TATA STARBUS 4/12 FCEV, a Green Hydrogen Fuel Cell Electric Vehicle (EV) Bus, and its variants. This positions Tata Motors as the first Original Equipment Manufacturer (OEM) in India to secure the Type Approval certificate with full compliance for all notified provisions of CMVR.

The official certificate handover ceremony took place today, marking a significant achievement in the realm of sustainable transportation. Dr. Reji Mathai, Director of the Automotive Research Association of India (ARAI), presented the CMVR Type Approval certificate to Mr. Rajendra Petkar, Chief Technical Officer of Tata Motors Ltd. The event witnessed the presence of senior leadership teams from both ARAI and Tata Motors Ltd., underscoring the importance of this groundbreaking accomplishment.

The TATA STARBUS 4/12 FCEV, powered by Green Hydrogen Fuel Cell technology, represents a paradigm shift towards eco-friendly public transportation in India. Hydrogen Fuel Cells generate electricity through a clean chemical process, emitting only water vapor and heat as byproducts. This innovative technology holds immense promise in addressing environmental concerns associated with traditional fossil fuel-powered vehicles.

With this certification, the TATA STARBUS 4/12 FCEV and its variants are now positioned for commercial deployment, marking a crucial step in realizing cleaner and greener public transport options.The collaboration between Tata Motors and ARAI signifies the importance of synergies between industry players and research organizations in driving technological advancements. This achievement not only positions Tata Motors as a trailblazer in sustainable mobility but also reinforces India’s role in the global transition towards eco-friendly transportation.

Boasting features like regenerative braking, Electronic Braking System (EBS), and Advanced Driver Assistance Systems (ADAS), it prioritizes safety and efficiency. The roomy interiors, compliant with Intelligent Transport Systems (ITS), offer comfort and customization options. Technical specifications include a 19.5-tonne GVW, 35+ seating capacity, and a 250-300km range. With a liquid-cooled fuel cell stack and compressed hydrogen gas tank, it sets a new standard for sustainable urban transportation.

Tata Technologies announces IPO allotment status

Dimple Gehlot — Wed, 29 Nov 2023 11:22:38 +0000

On Wednesday, November 29, Pune-based Tata Technologies, a renowned worldwide leader in engineering research and development (ER&D), revealed the allocation status of its first public offering (IPO). With the last IPO occurring in 2004 under the name Tata Consultancy Services, this milestone signifies the Tata Group’s comeback to the IPO market after over two decades.

The price range for the Tata Technologies IPO was Rs 475 to Rs 500 per share, and it was available for purchase from November 22 to November 24. The IPO application review page on the BSE website or the online portal of the issue’s registrar, Link Intime India, allow investors who took part in the IPO to view the allotment status.

On Thursday, November 30, Tata Technologies’ shares, which have a grey market premium (GMP) of Rs 375 a share, are scheduled to make their debut on the BSE and NSE.

Strong demand was evident in the IPO, which was subscribed 69.43 times on the last day, with bids for 3.12 billion equity shares being made against the 450 million shares that were made available.

Tata Technologies is a multinational engineering services provider that was founded in 1994 and focuses on creative approaches to digital and product development. Initially concentrating on the automotive sector, the company has broadened its scope of expertise to cater to customers in the aerospace, transport, and construction-related machinery sectors, hence aiding in the development of safer, cleaner, and more advanced goods.

Taj Hotels Data Breach: personal info of 1.5 million customers allegedly leaked

Dimple Gehlot — Thu, 23 Nov 2023 16:54:01 +0000

The Tata-owned Taj Hotels group may have experienced a data breach, potentially exposing the personal information of around 1.5 million of their customers, as reported by ET. The breach occurred earlier this month, and a threat actor, identified as “Dnacookies,” is reportedly demanding $5,000 for the complete dataset. The leaked data includes addresses, membership IDs, mobile numbers, and other personally identifiable information (PII).

A spokesperson for Indian Hotels Company Ltd (IHCL), the company managing the Taj Group, said to ET, “We have been made aware of someone claiming possession of a limited customer data set which is of non-sensitive nature. Safety and security of our customers’ data is of paramount importance to us.”

The threat actor, “Dnacookies,” posted on BreachForums, stating that the customer data spans from 2014 to 2020 and has not been disclosed to anyone so far. Dnacookies set three conditions for any potential deal: the involvement of a middle person with admin designation, no splitting of data (all or nothing), and no additional samples provided.

ET was initially made aware of this by a security researcher who wished to be anonymous. On November 5, ET examined the breach post on the cybercrime marketplace BreachForums, where the threat actor had posted a sample of 1,000 rows of distinct entries.

IHCL’s spokesperson mentioned ongoing investigations into the claim and notified relevant authorities. The company asserts that there is no indication of a current security issue impacting business operations.

The cybersecurity watchdog, the Indian Computer Emergency Response Team (CERT-In), is also aware of the intrusion, the source told ET. As of the time of publication, CERT-In has not replied to ET’s inquiry, though.

CEO of the cybersecurity company Safe Security Saket Modi stated that he could not see any sensitive government-issued IDs, such as Aadhaar, among the disclosed data. He noted that the ‘membershipId’ numbers are likely hotel loyalty numbers, and the data may be from an old hack being recycled.

According to the FAIR Institute’s Materiality Assessment Model (FAIR-MAM), categories important for a hospitality company breach include PCI (payment card information), PFI (personal financial information), PHI (protected health information), or sensitive PII. Modi outlined potential cost categories for Taj, including incident response, customer support, and class-action settlement and regulatory fines.

Tata Consumer Surges 2% as Q2 Profit Soars, Beating Market Expectations

Aditya Bhagchandani — Wed, 01 Nov 2023 07:22:49 +0000

On November 1, Tata Consumer’s stock experienced a significant uptick of one percent following the company’s announcement of its financial results for the quarter ended September. The FMCG giant revealed a consolidated net profit of Rs 359.18 crore, surpassing market expectations due to boosted margins resulting from strategic price hikes.

Tata Consumer beats Estimates

Morgan Stanley, a leading financial institution, maintained its ‘overweight’ recommendation for Tata Consumer stock. They set a target price of Rs 933 per share, indicating a promising 3.7 percent upside from the previous closing price of Rs 900. The decision was influenced by Tata Consumer’s results, which outperformed Morgan Stanley’s own estimates, reflecting the company’s strong financial standing.

Y-O-Y Figures

Comparing year-on-year figures, Tata Consumer’s net profit exhibited a notable growth of 1.18 percent, rising from Rs 354.98 crore in the corresponding quarter of the previous fiscal year. The company’s total revenue also demonstrated robust growth, reaching Rs 3,733.78 crore, marking an impressive 11.02 percent increase from Rs 3,363.05 crore reported in the same quarter the previous year.

One of the key highlights of Tata Consumer’s performance was the expansion of gross margins, which increased by 76 basis points (bps) year-on-year, settling at 42.5 percent. This uptick in margins underlined the company’s effective cost management strategies and pricing decisions, contributing significantly to its overall profitability.

In terms of business segments, the India business experienced substantial growth, recording an 11 percent increase, while the international business showcased an impressive 13 percent year-on-year growth. These figures underscored Tata Consumer’s strong market presence both domestically and internationally, further bolstering investor confidence.

As the clock struck 12:49, Tata Consumer shares were trading at a commendable 1.43 percent higher than the previous close, reaching ₹913.40. The positive market response highlighted investors’ confidence in Tata Consumer’s robust financial performance and strategic initiatives, positioning the company for continued growth and success in the market.

Tata Group & Nvidia form partnership to boost AI

Sidharth Badlani — Fri, 08 Sep 2023 15:24:57 +0000

According to a source with firsthand knowledge of the situation, the Indian Tata Group and US chipmaker NVIDIA will soon announce a partnership in artificial intelligence.

The insider noted that an announcement is anticipated later in the day.

In the meantime, Reliance and NVIDIA of India announced on Friday that they had partnered to develop generative apps and AI language models for millions of Taboola cellular subscribers in India.

According to the firms, NVIDIA will supply the necessary computer power while Jio, a Reliance affiliate, would operate and maintain the AI infrastructure and be in charge of user engagement.

In addition to offering energy-efficient AI infrastructure to researchers, developers, and startups across India, Reliance will build AI apps and services for their 450 million Jio (telecom) subscribers.

Globally, ChatGPT, the popular generative AI chatbot from OpenAI, is powered by computing devices that are almost exclusively manufactured by NVIDIA . Because it reads a written prompt and creates a human-like answer from it, the AI that powers these applications is referred to as a big language model.

The collaboration will grant Reliance access to the most recent iteration of NVIDIA AI chips, the Grace Hopper Superchip, which are designed to execute AI inference duties and efficiently power applications like ChatGPT.

Tata Motors Q1 Results: Net profit at Rs 3,203 crore, revenue jumps 42% on strong JLR sales

Adesh Dixit — Tue, 25 Jul 2023 17:30:22 +0000

With a combined net profit of Rs 3,203 crore for the first quarter of fiscal year 2023–24 (Q1 FY14), Tata Motors returned to profitability on July 25. This was made possible by the improved margin of its passenger vehicle (PV) business and strong sales at its luxury automobile division, Jaguar Land Rover (JLR).

On revenues of Rs 71,934.66 crore, the auto manufacturing company posted a net loss of Rs 5,006.60 crore in the first quarter of FY23.

In the quarter under review, operating revenue grew by 42% to Rs 1.02 lakh crore. EBITDA, or earnings before interest, taxes, depreciation, and amortization, increased by 177% to Rs 14,700 crore for the quarter.

According to P.B. Balaji, Group Chief Financial Officer of Tata Motors, “FY24 has started off on the right note with good performances across all automotive verticals. Each business is now producing consistent results and becoming structurally stronger thanks to the unique strategy it has adopted. We are still convinced that we can maintain this momentum for the remainder of the year and accomplish our stated objectives.

JLR’s sales increased by 57% to £6.9 billion on the strength of strong wholesales and a better mix, with earnings before interest and taxes (EBIT) margins of 8.6% (+1,300 basis points or bps) as a result. Due to the switch to BS6 Phase 2, commercial vehicle (CV) volumes were 15% lower than the previous year.

However, the demand-pull strategy and a healthier mix helped the EBIT margins increase to 6.5 percent (+370 bps). With revenue increase of 11.1 percent and an EBIT of 1.0 percent (+10 bps), the PV industry remained stable. Net profit was Rs 3,300 crore, while overall profit before tax (PBT) increased by Rs 10,300 crore to Rs 5,300 crore.

Also disclosed by Tata Motors was the fact that its free cash flow (automotive) for the June quarter was positive at Rs 2,500 crore, driven by a significant increase in cash profits. The company asserted that as a result, its net automotive debt was decreased to Rs 41,700 crore.

Earlier, Tata Motors disclosed that in Q1 FY24, its global wholesales numbers—which include JLR—rose 5% year over year (YoY) to 3,22,159 vehicles. Within that, PV sales increased by 8% year over year to 140,450 units.

For the third quarter, the company sold 10,324 and 82,929 JLR automobiles, respectively. Together, the high-end weapons sold 93,253 units, up 30% from the same quarter last year.

JLR CEO Adrian Mardell stated, “We have had a strong start to the financial year and delivered our highest production levels in nine quarters as well as our highest Q1 cash flow on record.”

The company’s profit above the Rs 2,546 crore average estimate of five brokers.

Despite short-term challenges, Tata Motors said it is still positive about the demand scenario and anticipates that moderate inflation would persist in the near future.

Thanks to a “healthy order book” and low breakeven in JLR, a steady increase in demand while pursuing a demand-pull strategy in CVs, a series of exciting launches ahead of the holiday season in PVs, and continued aggression in EVs, the domestic automaker said it aims to deliver a “strong performance” in the remaining months of the year as well.

On July 25, the Tata Motors share price closed 1.62 percent higher at Rs. 639.45 a share on the BSE.

DCB Bank receives RBI approval for 7.5% stake sale to Tata Mutual Fund

Viditha Ganji — Thu, 06 Jul 2023 11:55:21 +0000

DCB Bank, a leading private sector bank, announced on Wednesday that it has obtained approval from the Reserve Bank of India (RBI) to sell up to a 7.5% stake in the bank to Tata Asset Management Private Limited (TAMPL).

According to a regulatory filing by DCB Bank, the acquisition of this stake, representing up to 7.5% of the bank’s paid-up equity capital, will be executed through the schemes of Tata Mutual Fund. The approval granted by the RBI is valid for a period of one year, starting from the date of the RBI’s letter on July 5, 2023.

However, it should be noted that the RBI’s approval is subject to compliance with various regulations and guidelines. These include the relevant provisions of the Banking Regulation Act, 1949, the Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies issued by the RBI on January 16, 2023, as well as the regulations issued by the Securities and Exchange Board of India (SEBI) and the Foreign Exchange Management Act, 1999, among others.

In addition, the RBI has advised Tata Asset Management Private Limited to ensure that its aggregate shareholding in DCB Bank does not exceed 7.5% of the bank’s paid-up capital at any given time. This measure aims to maintain a balanced and controlled ownership structure within the bank.

By forging this strategic partnership with Tata Mutual Fund, DCB Bank is set to enhance its position in the financial market and leverage the expertise and resources of Tata Asset Management. The collaboration between the two entities is expected to yield mutual benefits, fueling growth and delivering value to stakeholders.

With the regulatory green light now secured, DCB Bank and Tata Asset Management Private Limited can move forward with their plans, aligning their strategies and working towards achieving their shared objectives. The investment from Tata Mutual Fund is poised to strengthen DCB Bank’s capital base and provide additional impetus for its future expansion initiatives.

As the partnership between DCB Bank and Tata Mutual Fund takes shape, market observers will closely monitor the developments, anticipating the positive impact it will have on the banking sector and the broader financial landscape.

In Gujarat, the Tata Group will build a lithium-ion cell facility of Rs 13,000 billion

Avinash Ram — Fri, 02 Jun 2023 18:33:53 +0000

A total of Rs 13,000 crores would be invested in the project in its first phase. With a projected 20 GW capacity, the facility will play a crucial role in meeting India’s rising lithium-ion battery demand.

The Tata Group, one of the largest businesses in India, has plans to construct a massive lithium-ion battery manufacturing facility in Gujarat. On Friday, June 2, the subsidiary Agratas Energy Storage Solution signed an MoU with the Gujarati government to formally make this commitment.

The Gujarati government stated in a formal announcement that the project will require an initial investment of Rs 13,000 crores (equivalent to USD 1.8 billion) in its first phase. It is projected that the plant will have a sizable capacity of 20 gigawatts (GW), which would greatly aid India in meeting its increasing demand for lithium-ion batteries.

By constructing this manufacturing facility, the Tata Group hopes to assist the country in making the switch to renewable energy and electric vehicles. The facility will significantly develop the EV industry in addition to giving about 13,000 people the opportunity for direct and indirect employment.

This action is consistent with Prime Minister Narendra Modi’s intention to reduce carbon emissions by 50% and use only electric vehicles in order to achieve net-zero emissions by the year 2030.

Tata Elxsi Q4 Highlights: net profit increases by 26% to Rs. 201 crore

News Desk — Thu, 18 May 2023 14:59:51 +0000

On Thursday, the leading design and technology service company, Tata Elxsi, announced the quarterly profits for the previous quarter.

The company’s net profit for the fourth quarter of the fiscal year 2023 (Q4FY23) was reported to have increased by 26% from the previous year, coming in at 201.5 crores. In the same time period last year, the Tata Group firm posted a profit of 160.01 crores or Indian rupees. On the BSE, the price of a share of Tata Elxsi was last seen at Rs 7,001.85, representing a loss of about 1.35%.

The revenue generated from operations during the fourth quarter of fiscal year 23 was up 23% year over year to a total of 838 crores, up from 681.7 crores. From the previous value of 817.7 crores, it increased by 2.5%. The information technology company’s quarterly revenue was up 23.4% year over year to 863.6 crores in Q4Fy23, up from 699.8 crores in Q4FY22.

On a year-on-year (YoY) basis, the company’s EBITDA margin for Q4FY23 came in at 29.8%, down from 32.5% the previous year. EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation.

The board of directors has suggested a final dividend for the fiscal year 2022-23 that is equal to 606% or 60.60 per share.

According to the company’s CEO and managing director, Manoj Raghavan, the transportation industry, which accounts for more than 43 percent of the company’s Embedded Product Design (EPD) sector, had exceptional growth in the amount of 32.8% in terms of constant currency during the reporting period. The Healthcare and Medical Devices sector had a strong gain of 28.4% when measured in terms of constant currency.

Krithi Krithivasan to officially take over as TCS’s new CEO beginning 1st of June

News Desk — Wed, 12 Apr 2023 14:29:22 +0000

On Wednesday, Tata Consultancy Services (TCS) announced that the Chief Executive Officer K Krithivasan would take over the role he now holds on June 1, 2023. He will serve in this capacity for the next 5 years after his appointment.

“We wish to inform you that the Board of Directors of the Company have, at its meeting held today, appointed Mr. K. Krithivasan as the managing director and Managing Director of the Company to take over from Mr. Rajesh Gopinathan with effect from June 1, 2023, subject to the approval of the shareholders. Mr. Krithivasan will succeed Mr. Gopinathan as managing director and Managing Director of the Company. His appointment will be in effect for a period of time equaling five years, “said TCS in the application that it made.

Rajesh Gopinathan, who most recently served as the company’s Chief Executive Officer and Managing Director, will be succeeded by K Krithivasan, who will assume those roles going forward.

“It is really gratifying to reflect back at our great increase in FY 2023, which comes on top of the rise in the mid-teens we saw in the previous year. The robustness of the demand for our services is borne out by the size of our order book, which also provides us with an indication of our potential for expansion over the next several years. Together with Krithi, I am working diligently to ensure that the leadership transition that will take place over the next few months will be as painless and unnoticeable as possible for all of our constituents and that TCS will be in a strong position to capitalize on the opportunities that lie ahead “said Rajesh Gopinathan.

TCS reported a consolidated net profit of Rs 11,392 crore for the fourth quarter of fiscal year 23 (Q4FY23), an increase of 14.76% compared to the profit of Rs 9,926 crore reported for the same period in the previous fiscal year.

Tata Steel Q3: Net loss at Rs 2,224 Crore, down 76%

Aryan Jakhar — Mon, 06 Feb 2023 13:31:00 +0000

Tata Steel recorded a consolidated net profit of Rs 2,224 crore for the third quarter ended December 31, 2022, on Monday (Q3FY23). This is a 76% decrease from the equivalent quarter of the previous year’s figure of Rs 9,572 crore.

The steel manufacturing company’s revenue from operations fell 6% to Rs 57,083.56 crore in the fiscal year under review from Rs 60,783 crore the previous year.

Tata Steel shares finished 2.62% down on Monday, ahead of the results, at Rs 117.20 per share on the NSE.

Tata Motors Q3 net profit at ₹2,958 Crore, revenue jumps 23%

Aryan Jakhar — Wed, 25 Jan 2023 11:07:43 +0000

Tata Motors reported a consolidated net profit of ₹2,957.71 crore for the third quarter ended December 31 on Wednesday (Q3FY23). The firm recorded a net loss of ₹1,516 crore in the previous fiscal year (Q3FY22) and ₹944.61 crore in the prior September quarter (Q2FY23).

The consolidated income from operations of the Mumbai-based firm increased by 22.5% to ₹88,488.59 crore from₹ 72,229 crore the previous year.

Analysts expect the domestic automaker to have a combined net profit of ₹285 crore.

JLR revenue for the third quarter was £6.0 billion, up 28% from Q3FY22 and up 15% sequentially due to improved supply, a good model mix, and pricing.

On Wednesday, Tata Motors’ stock fell 0.84% to ₹418.60 on the NSE.

Siddharth Sharma appointed CEO of Tata Trusts, Aparna Uppaluri as COO

Aryan Jakhar — Tue, 24 Jan 2023 17:08:57 +0000

Tuesday saw the appointments of Siddharth Sharma as the Trusts’ Chief Executive Officer (CEO) and Aparna Uppaluri as the Trusts’ Chief Operating Officer by Tata Trusts, one of the nation’s oldest public philanthropic foundations (COO).

Their appointment will take effect on April 1st, 2023, according to a statement released on Tuesday by Tata Trusts, which has a 66% interest in Tata Sons.

The CEO of Tata Sons, N Srinath, retired in 2022 and was succeeded by 54-year-old Sharma, the company’s chief sustainability officer.

To make room for Uppaluri, who is now the Ford Foundation’s programming director for India, Nepal, and Sri Lanka, the organisation will establish the COO position for the first time.

Aparna Uppaluri has experience in strategic planning and development in charity, while Sharma has over two decades of experience working for the government.

“Sharma has been in government service for two decades where he handled important assignments in key ministries of the government, and as the financial advisor to the 13th and 14th Presidents of India. He subsequently joined the Tata group where he has been heading the newly formed sustainability portfolio,” Tata Trusts’s said.

“Uppaluri is a well-regarded professional with exposure in strategic planning and programme development in the fields of philanthropy, women’s rights, public health, arts, and culture,” Tata Trusts said.

The statement continued, “With more than twenty years of leadership and management experience, she has led the Ford Foundation’s grant-making initiatives to advance programmatic commitment to strengthen gender justice and has also served as programme director to oversee various verticals at the Ford Foundation.”

Tata Motors gains 6%, while JLR wholesales rise 15% year on year in the December quarter

Aryan Jakhar — Tue, 10 Jan 2023 04:53:22 +0000

Shares of Tata Motors and Tata Motors DVR (Differential Voting Right) rose up to 6% on the BSE in Tuesday’s intra-day trade in an otherwise poor market after Jaguar Land Rover (JLR) announced increased wholesale sales in Q3FY23, citing steady improvement in chip supplies. JLR is a completely owned subsidiary of Tata Motors, which is part of Tata Sons. The S&P BSE Sensex was down 0.53 percent at 60,426 at 09:44 AM.

According to TataMotors, wholesale volumes were 79,591 units in the period (excluding the Chery Jaguar Land Rover China joint venture), up 5.7 percent from the prior quarter ending September 30, 2022 (Q2FY23) and 15% from the same quarter a year earlier (Q3FY22).

Tata Group’s passenger car and utility vehicle manufacturer stated that demand for its vehicles remains high. The overall order book climbed to 215,000 customer orders in Q3FY23, an increase of roughly 10,000 orders from Q2FY23. Demand for the New Range Rover, New Range Rover Sport, and Defender has remained high, accounting for 74% of the order book.

Meanwhile, Tata Motors predicted that free cash flow will be more than £400 million positive in the third quarter. In December 2022, the company completed a renewal of its undrawn revolving credit facility with 23 banks for £1.45 billion, with the expiry date pushed back from March 2024 to April 2026. JLR intends to release unaudited Q3FY23 earnings on January 25, 2023.

The increase in wholesale shipments comes in the midst of ongoing chip supply difficulties and Covid-led lockdowns in China. These figures exceed our forecast of 88,101 units (down 2 per cent QoQ). As a result, according to ICICI Securities, the company could record a higher operating performance in Q3FY23.

However, retail volumes fell 3.7% year on year to 84,827 units. Encouragingly, the company is experiencing healthy demand for its products, with order book increasing to around 2.15 lakh units vs. 2.05 lakh units as of December 2022 end, with New Range Rover, Defender, and New Range Rover Sport accounting for approximately 74% of the orderbook, according to the brokerage firm.

However, during the last six months, Tata Motors has underperformed the market, losing 6% while the S&P BSE Sensex has risen 11%. Furthermore, the stock has fallen 18% in the last year, compared to a 0.03 percent advance in the benchmark index. It had reached a 52-week high of Rs 528 on January 18, 2022.

Tata nears iPhone plant takeover to expand Apple supply role

Aryan Jakhar — Tue, 10 Jan 2023 04:31:43 +0000

Tata Group is close to acquiring a big plant in southern India, creating the country’s first domestic iPhone manufacturer.

According to two people familiar with the situation, the airline-to-software conglomerate has been in talks with the factory’s owner, Taiwan’s Wistron Corp., for months and hopes to complete the deal by the end of March. According to the persons, the two companies discussed different prospective collaborations, but discussions have now focussed on Tata taking a majority stake in a joint venture. The main manufacturing operation will be overseen by Tata, with backing from Wistron, according to the people, who asked not to be identified since the plans aren’t public.

Apple Inc.’s iPhones are mostly built by Taiwanese manufacturing behemoths such as Wistron and Foxconn Technology Group. Tata’s transaction would help India’s ambitions to build domestic competitors to challenge China’s supremacy in electronics, which has been hampered by political tensions with the US and Covid-related obstacles.

According to one of the people, the Indian conglomerate plans to finish a due diligence procedure by March 31 so that its Tata Electronics branch may formally take over Wistron’s role in a government-subsidised programme. The next cycle of incentives will begin on April 1, the start of India’s fiscal year.

According to one of the people, the acquisition might be worth more than $600 million if Wistron achieves the conditions for the projected incentives for the current fiscal year.

A Tata spokesman declined to comment. Wistron and Apple did not reply to calls for comment.

Wistron, along with Foxconn and Pegatron Corp, is one of three Taiwanese iPhone producers in India. It has attempted to expand its business beyond low-margin iPhone manufacturing into areas such as servers, promising to sell its iPhone production operation in China to a competitor in 2020.

Even as Wistron prepares to abandon iPhone production in India, its Taiwanese competitors are increasing their iPhone production lines. Apple, the world’s most profitable smartphone maker, is attempting to minimise its reliance on China, where pandemic-related supply chain snarls and severe controls have wreaked havoc on device production.

Wistron’s 2.2 million square-foot facility is around 30 miles (50 kilometres) east of Bangalore. If the deal goes through, Tata will take over all eight iPhone lines as well as the plant’s 10,000 employees, including a couple thousand engineers. Wistron will continue to be an iPhone service partner in India.

Tata has taken additional steps to expand its relationship with Apple. It has increased hiring at its factory in Hosur, near Bangalore, where it manufactures iPhone components. This factory is located on several hundred acres of land where Tata may expand iPhone assembly lines in the coming years. Tata has also stated that it will open 100 Apple stores in the country of 1.4 billion people, the first of which will open in Mumbai this quarter.

The 150-year-old Tata Group manufactures everything from branded salt and Tetley Tea to steel and Jaguar vehicles, as well as operating an airline and Starbucks cafés in the country. Tata Consultancy Services Ltd. is Asia’s largest IT outsourcing company and one of India’s most valued by market capitalization.

In recent years, Chairman Natarajan Chandrasekaran has increased attempts to make the conglomerate more tech-centric, with a spate of e-commerce activities and a new super-app dubbed Tata Neu. According to Chandrasekaran, the group is also planning to enter the chipmaking business.

TCS’ attrition rate falls to 21.3% in Q3 as the company hires 2,197 new employees

Aryan Jakhar — Mon, 09 Jan 2023 12:23:06 +0000

For the quarter ended December 31, 2022, Tata Consultancy Services’ (TCS) attrition rate fell to 21.3%. TCS anticipates that the attrition rate in IT services would continue to fall in the coming quarters. However, the corporation added 2,197 people in the third quarter of fiscal year 23.

The headcount of Tata Group-backed employees was 616,171 in Q2FY23, a net addition of 9,840 personnel from the June 2022 quarter, when it was 606,331.

TCS, on the other hand, had an attrition rate of 21.5% during the previous twelve months in Q2FY23.

TCS indicated in the second quarter that with normalising wage expectations and talent supply coming up across the industry, attrition will begin to drop off in H2 of FY23.

Tata Motors considering price increase for passenger vehicles from January

Aryan Jakhar — Mon, 05 Dec 2022 17:22:59 +0000

According to a top corporate official, Tata Motors is considering raising the price of passenger vehicles starting next month in order to make its model range comply with tighter pollution standards that go into effect on April 1 of next year.

Shailesh Chandra, managing director of Tata Motors’ passenger vehicle and electric vehicle divisions, told PTI that the pricing adjustment would help lessen the impact of commodity costs, which have been high for the majority of the year.

“The regulatory change will have its impact on the cost. Even the real impact of softening of commodity prices is only going to come from next quarter and we still have the residual impact of the commodity escalation that we have seen during the year,” Chandra said.

He pointed out that although battery prices have increased as well, the increase has not been reflected in market prices.

“So we are evaluating a price increase basis some of the residual effect that is left as far as the commodity prices are concerned. Battery prices and new regulations have also impacted the EV side,” Chandra said.

Additionally, he added, there is a cost associated with transitioning the model range to comply with new emission regulations.

“We are exploring potential price increase next month because of these factors for both ICE and EVs,” Chandra said.

In the domestic market, Tata Motors offers a variety of models including the Punch, Nexon, Harrier, and Safari. With vehicles like Tiago EV and Nexon EV, it dominates the electric vehicle market.

Vehicles must have an on-board self-diagnostic system starting on April 1, 2023, in order to track the driving emission levels in real time. In order to maintain a careful eye on emissions, the gadget will continuously check important components for compliance with emission requirements, such as the catalytic converter and oxygen sensors.

When the emissions go beyond the limits, the system will signal through warning lights that the vehicle needs to be serviced.

The vehicles will also include programmable fuel injectors, which would regulate the timing and amount of fuel pumped into the gasoline engine, in order to further reduce the amount of fuel burned.

To monitor the throttle, crankshaft positions, air intake pressure, engine temperature, and the components of the exhaust emissions (particulate matter, nitrogen oxide, CO2, sulphur, etc.), even the semiconductors utilised by the car will need to be modified.

Maruti Suzuki also announced last week that starting in January, vehicle prices would rise.

Tata Motors Q2 consolidated net loss falls to Rs 944.6 crore

Aryan Jakhar — Wed, 09 Nov 2022 11:21:13 +0000

On November 9, Tata Motors announced a consolidated net loss of Rs. 944.61 crore for the second quarter that ended in September (Q2FY23). In the same period last year, the domestic multinational vehicle manufacturing company reported a net loss of Rs. 4,441.57 crore (Q2FY22).

Consolidated income from operations for the Mumbai-based company increased 29.7% year over year, from Rs 61,378.82 crore to Rs 79,611.3 crore during the quarter under review. In Q2FY23, EBITDA margin increased by 130 bps YoY to 9.7%.

The domestic commercial vehicle division of the Indian carmaker had a 19% increase in sales over Q2 FY22, driven by increased sales of MHCVs and a solid rebound in demand for passenger carriers.

With wholesales at 142,755 vehicles (+69% yoy and 10% qoq), Tata PV business maintained its good progress amid high holiday demand and debottlenecking initiatives.

According to a report to the BSE, wholesale volumes (excluding the China JV) of 75,307 were up 17.6% YoY and 4.9% on the prior quarter, and Tata Motors’ JLR revenue was £5.3 billion during Q2FY23, up 36% YoY from Q2FY22.

According to Tata Motors, JLR is still concentrating on concluding long-term partnerships with chip suppliers, which is increasing visibility of future chip supply. According to the company, production and sales volumes are anticipated to increase, positive profit margins and cashflow are anticipated in the second half of FY23, and free cashflow is anticipated to be close to breakeven for the entire fiscal year.

Thierry Bolloré, Jaguar Land Rover’s Chief Executive Officer, stated, “We delivered a stronger financial performance in the second quarter as production of our new Range Rover and Range Rover Sport ramped up, improving revenue, margins and cash flow, despite continuing semiconductor constraints.”

Some analysts predicted that the company would experience significant topline growth, while others had doubts about its bottom line. Some of them predict a significant decrease in net losses quarter-over-quarter (QoQ), while others predict a slight increase in net profit.

Because of JLR’s poor performance, institutional research at HDFC Securities anticipated that Tata Motors will once again report a loss in Q2 on a consolidated basis. Similar to this, analysts at Kotak Institutional Equities predict a little increase in consolidated net earnings to Rs 317.9 crore.

Tata Motors will increase the price of passenger vehicles, starting Monday

Aryan Jakhar — Sat, 05 Nov 2022 08:15:22 +0000

On November 5, domestic automaker Tata Motors announced a slight price increase for all of its passenger vehicles (PVs).

“Effective November 7, 2022, the weighted average increase will be 0.9%, depending on the variant and model,” the company said in a statement.

The automaker claimed that although it had been passing along a substantial percentage of the increased expenses, the sharp increase in overall input costs had forced it to pass along a portion of the cost through this little price increase.

The automaker announced a little price increase of 0.55% for its PV range in July.

The company offers a variety of passenger cars for sale all around the nation, including the Tiago, Punch, Nexon, Harrier, and Safari.

On November 1, Tata Motors reported an increase in total sales of 15.49 percent to 78,335 units in October 2022. In the same month last year, the business sold a total of 67,829 cars, according to a statement from Tata Motors.

According to the report, total domestic sales increased by 17% to 76,537 units from 65,151 units in the same month last year.

PV sales, which include sales of electric vehicles, increased by 33% in the domestic market to 45,423 units in comparison to 34,155 units in the same month previous year.

PV exports decreased by 10% to 206 units in October 2021 from 230 units.

Tata Steel’s Q2 profit is 87% lower than expected despite flat revenue

Aryan Jakhar — Mon, 31 Oct 2022 12:19:47 +0000

For the quarter that ended in September 2022, domestic steel giant Tata Steel announced a combined profit after tax (PAT) of Rs.1,514 crore on Monday. Compared to a profit of Rs.11,918 crore made during the same quarter last year, the PAT was 87% lower.

Sequentially, PAT decreased by 80% from the Rs.7,764.96 crore realised during the April–June quarter.

Analysts predicted that Tata Steel’s PAT would be approximately 3,000 crore and its combined revenues would be about 56,900 crore.

The top steel producer in the nation had a 0.8% drop in operating revenue to Rs.59,877.52 crore for the reviewed period compared to Rs.60,387.13 crore for the comparable period last year.

Earnings before interest, taxes, depreciation, and amortisation, or adjusted EBITDA, for the entire company were Rs.6,271 crore.

“Concerns about slowdown in key economies, persisting geopolitical issues coupled with seasonal factors led to a volatile operating environment. Despite these headwinds, Tata Steel registered best ever domestic sales in India enabled by a strong product portfolio and an extensive distribution network which services end to end requirements in chosen segments,” said TV Narendran, CEO and MD of Tata Steel.

Tata Steel shares finished 0.49% lower on Monday to settle at 101.10 a share on the NSE, ahead of the results. For the past two sessions, the Tata Group stock has been declining. The large cap stock has dropped 9.13% in 2022 after falling 23.29% in a year.

Profit at Tata Power increases to 94.1% due to strong energy demand

Aryan Jakhar — Fri, 28 Oct 2022 11:40:12 +0000

On Friday, Tata Power Company Ltd. reported a 94.1% increase in second-quarter profit, with energy consumption maintaining strong as the economy picked up after the pandemic lockdowns.

For the three months ending September 30, the energy division of the Tata conglomerate’s consolidated net profit increased from 4.22 billion Indian rupees to 8.19 billion rupees ($99.34 million), according to a filing with the stock exchange.

As the monsoon recedes and the festival season proceeds, power usage has recovered and is expected to rise in the upcoming months. Power costs have increased as a result of rising coal prices and heavy demand.

Operating revenue increased by 43% overall to 140.31 billion rupees.

According to Chief Executive Officer Praveer Sinha, the company experienced substantial growth across all of its business segments, including generation, transmission, distribution, and renewable energy.

While the company’s primary sources of income are power generation and transmission, it is actively expanding its renewable energy sector and in April acquired $525 million from a consortium led by BlackRock to support this expansion.

Power generating revenue increased by 118% to 48.34 billion rupees, transmission revenue increased by 32.9%, and renewables revenue increased by 7.2%.

Another large project is selected for Gujarat by Tata and Airbus

Aryan Jakhar — Thu, 27 Oct 2022 11:45:17 +0000

Defense Secretary Ajay Kumar announced today that a manufacturing facility for the Airbus C295 transport aircraft will be built in Vadodara, Gujarat.

Prime Minister Narendra Modi will attend the foundation-laying ceremony for the setting of the facility on October 30, according to officials.

“For the first time, the C-295 aircraft will be manufactured outside of Europe,” Kumar said.

In September of last year, India and Airbus Defence and Space agreed to a nearly Rs.21,000 crore deal for 56 C-295 transport planes to replace the IAF’s outdated Avro-748 aircraft. This project involves the first-ever production of military aircraft in India by a commercial company.

In accordance with the contract, Airbus will deliver the first 16 aircraft in “fly-away” condition from its final assembly line in Seville, Spain, within four years. Tata Advanced Systems (TASL), an industrial partner of the two corporations, will build and assemble the other 40 aircraft.

The Directorate General of Aeronautical Quality Assurance (DGAQA) granted the ambitious programme regulatory certification last week.

Henry Donohoe is appointed head of safety, security, and quality services by Air India

Aryan Jakhar — Fri, 21 Oct 2022 08:43:35 +0000

Henry Donohoe has been appointed by Air India to improve quality, security, and safety operations.

According to a formal announcement made on Friday, Donohoe will take over as Head of Safety, Security, and Quality on November 7, 2022.

Donohoe, an Irishman, began his career at Aer Lingus in 1978 and rose to the position of Chief Pilot before leading important divisions such as Safety, Quality, Flight Operations, and Engineering.

Donohoe then worked for Emirates Airline for seven years in a variety of safety positions before being named Divisional Senior Vice President Flight Operations and Primary Crisis Director.

His most recent position was Senior Vice President Safety, Security, Compliance & Emergency Response at Norwegian Air, where he was in charge of unifying various AOCs and Safety, Security & Compliance departments under one organisation and launching critical Change Management procedures within the airline, according to the statement.

Campbell Wilson, CEO & MD of Air India, commented on the development, saying, “even as we pursue our Vihaan. AI ambitions, including the tripling of our fleet, safe and secure operations remain Air India’s number-one priority”.

Tata Power reports cyberattack on its IT infrastructure, says critical systems are functioning fine

Aryan Jakhar — Fri, 14 Oct 2022 15:22:04 +0000

Tata Power, a power business, reported a cyber attack on its IT infrastructure on Friday that had an effect on certain of its systems.

Tata Power noted that all essential operational systems were up and running.

“The Company has taken steps to retrieve and restore the systems. All critical operational systems are functioning; however, as a measure of abundant precaution, restricted access and preventive checks have been put in place for employee and customer facing portals and touch points,” Tata Power said in its filing with the stock exchange.

“The Company will update on the matter going forward,” it further added.

On Friday, shares of Tata Power almost exactly held their previous level at Rs 215.90 per share on the BSE.

Ratan Tata is one of the newly chosen trustees for the PM CARES Fund

Aryan Jakhar — Wed, 21 Sep 2022 09:26:19 +0000

One of the trustees for the PM CARES Fund is the industrialist Ratan Tata. Along with former Supreme Court justice Justice K T Thomas and former Deputy Speaker Kariya Munda, the TATA Sons chairman emeritus was nominated to the trust.

The trustees were warmly thanked by the Prime Minister’s Office for joining the PM CARES Fund as an essential component. The other trustees of the PM CAREES Fund are Union Home Minister Amit Shah and Union Finance Minister Nirmala Sitharaman.

The statement was made a day after PM Narendra Modi presided over a meeting of the Board of Trustees of the PM CARES Fund, when a presentation on the different projects carried out with support from the PM CARES Fund was presented. At the meeting, Ratan Tata was also in attendance.

The trust also made the decision to propose the following distinguished individuals for the PM CARES Fund’s advisory board: Anand Shah, the co-founder of Teach for India, and Rajiv Mehrishi, the former CEO of Indicorps and the Piramal Foundation. Sudha Murthy, the former chairperson of the Infosys Foundation.

According to PM Modi, the addition of new trustees and advisors will give the PM CARES Fund’s operations a wider perspective.

Financial stock of Tata Group surges to record high, up 30% in two weeks

Aryan Jakhar — Tue, 13 Sep 2022 07:54:13 +0000

Tata Investment Corporation Ltd. shares rose by more than 6% intraday on the BSE during Tuesday’s trading session, reaching a new high of ₹2,096 per share. Given that it has increased by more than 30% in the last two weeks, the stock has been in an uptrend over the past several sessions.

Tata Investment Corporation Limited (TICL), a non-banking financial corporation (NBFC) supported by Tata Sons, is registered with the Reserve Bank of India (RBI). The organisation, formerly known as The Investment Corporation of India, specialises in long-term investments such equity shares and securities related to equities. Over a year, the Tata Group stock has increased by more than 62%.

The Company’s primary business is making long-term investments in equity shares, debt instruments, listed and unlisted securities, and equity-related securities of businesses across a variety of industries. Dividends, interest, and profit from the sale of investments make up the majority of the company’s revenue sources.

In 1994, TICL collaborated with TATA Sons Ltd. to promote TATA Asset Management Company Ltd. TATA Sons owns 68% of TATA AMC Ltd., while TICL owns 32%. One of the original fund management firms in the Indian private sector is Tata Asset Management (TAM). The company’s main function is serving as the Tata Mutual Funds’ investment manager.

Tata Investment Corporation reported a 66.5% increase in consolidated net profit at 89.7 crore for the first quarter ending June 2022, or Q1 FY23, which was driven by greater dividend income. In the same fiscal quarter, the company reported a consolidated profit after tax of 59.8 crore.

In the reviewed quarter, it generated Rs 102 crore in total operating revenue as opposed to Rs 62 crore in the same quarter last year. The company’s dividend income was Rs 74 crores, compared to Rs 41 crores during the same period last year.

Tatas in talks with Bisleri to buy stakes: Report

Aryan Jakhar — Mon, 12 Sep 2022 17:03:59 +0000

According to media reports, Bisleri International and multinational conglomerate Tata Group are in negotiations to buy a stake in the market leader in bottled water.

The fast-moving consumer goods (FMCG) division of the Tata Group, Tata Consumer Products Ltd., is said to have started the discussions, according to news agency PTI.

According to a source with knowledge of the situation, the talks are just in their very early stages, therefore it would be premature to predict that a deal would materialise. Tata and Bisleri both declined to offer comments on the situation.

The Tata Group sells packaged mineral water under the name Himalayan as well as two other brands in the hydration market: Tata Copper Plus Water and Tata Gluco.

According to PTI, which cited industry watchers, if the Tata-Bisleri merger is approved, it will give Tata Consumer Products Ltd. a bigger role in the bottled water market, which is expanding quickly.

In India, there are numerous businesses involved in the bottled water industry. But Bisleri commands the market.

Tata Consumer Products Ltd. wants to dominate the FMCG market by diversifying its business and increasing its presence in new markets.

“With strong product innovation, investment in strengthening our brands and strategic acquisitions, we are well on track in our journey to become a leading FMCG company,” the Tata Group’s FMCG wing said in its latest annual report.

Tata Group will establish a common office in Gurugram for Air India, Air India Express, and Air Asia India

Aryan Jakhar — Sat, 10 Sep 2022 03:59:36 +0000

Three of the four airlines operated by the Tata Group will move to a single office in Gurugram by March 2023.

By the beginning of 2023, the Vatika One on One facility in Gurugram will have a common office for Air India, Air India Express, and AirAsia India. Air India has already begun to leave a number of offices that are now housed in government buildings across the nation as of September. At Airlines House, Safdarjung Complex, GSD Complex, and IGI Terminal One, the majority of the Air India workforce will transfer to an interim office location in Gurugram before moving by the beginning of March to Vatika One on One.

According to the airline, Air India’s regionalized organisational structure would likewise be abolished and replaced with a centralised one.

“This will allow consolidation of presently-dispersed teams, co-location of managers with their teams and physical adjacency of related functions,” the airline added.

Currently, Vatika One on One at Intellion Edge is about 10 km away from Vistara, the fourth airline in the Tata stable.

“It may only be a matter of time before Vistara also gets moved to Vatika One on One,” an industry expert said.

In January 2022, the Tata Group once again bought Air India and Air India Express as part of a strategic divestment programme run by the government. Tata Sons and AirAsia Investment Limited (Malaysia) have partnered to create AirAsia India, with the former owning an 83.67% interest and the latter a 16.33% stake in the airline. In April, Air India suggested buying out the whole stake held by the Tata group in AirAsia India in an effort to increase synergy among the Tata group airlines. The plan was approved by the Indian Competition Commission in June.

Tata AIA Life registers the largest number of MDRT-qualified insurance advisors

Pranay Maniar — Fri, 02 Sep 2022 11:04:01 +0000

As of July 1st, 1,496 of Tata AIA Life Insurance Co. Ltd.’s (Tata AIA) life insurance agents had qualified for the Million Dollar Round Table (MDRT), making Tata AIA the leading MDRT Company in India’s life insurance market. The company has also joined the exclusive list of the top 10 MDRT companies in the world with a global ranking of nine.

689 women, or 46% of the total number of MDRT agents, were among the 1,496 qualified MDRT Agents. As of July 1st, Tata AIA Life is ranked number 15 globally for the induction of top qualified female advisers.

The largest life insurance and financial services specialists in the world from more than 500 organisations in 70 countries and territories make up the international, independent association known as MDRT. Members of MDRT exhibit high standards of moral behaviour, superior professional understanding, and first-rate customer service.

The industry standard for excellence in the life insurance and financial services sectors is MDRT membership, which is acknowledged on a global scale. Members of MDRT have access to a wide range of forums that can help them become more professional and productive.

Naveen Tahilyani, Managing Director & Chief Executive Officer, Tata AIA Life Insurance, said, “We are delighted with the fact that our champion Advisors and Team Agency have led Tata AIA to be ranked No. 1 in India in terms of most MDRT agents in life Insurance companies. India’s life insurance industry holds tremendous potential, and a professional Agency force of knowledgeable and accomplished advisors can act as a catalyst to enabling the penetration and growth life insurance industry in India and scale new highs. We are committed to empowering our Advisors and fast-track their path to MDRT membership, providing them a rewarding and fulfilling career opportunity.”

The highest level of trust is placed in MDRT Qualifiers since they are known for prioritising customer needs before personal interests. Being the best in their field, MDRTs are expected to uphold not only the code of ethics of their agency but also the organisation they represent.

Amit Dave, Chief Agency Officer, Tata AIA Life Insurance, added, “Our mantra is doing the right thing in the Right way with the Right People. We prepare our Advisors with the Right knowledge, Right attitude, and Right skills to engage consumers in a transparent and informative way. The achievement underlines the positive transformation of our Agency force and reinforces our belief that our advisors are among the finest in the world. By creating, and enhancing the core of our Agency model, we at Tata AIA aim to set new standards in India for consumer-centric insurance sales and distribution.”

The Tata Group shares reached new highs and entered the list of the top 100 most valuable firms

Aryan Jakhar — Wed, 17 Aug 2022 07:53:58 +0000

In Wednesday’s trading session, Trent’s shares soared to an all-time high of Rs 1,479 per share on the BSE, as the company’s market capitalization surpassed Rs 50,000 billion and it entered the top 100 list of firms by market capitalization. The stock has increased by over 11% during the last five trading days and is up more than 39% year to date in 2022.

Trent Ltd., the retail division of the Tata group company, posted a combined net profit of Rs 115 crore in the first quarter of the current fiscal year as opposed to a net loss of Rs 138 crore in the same period last year. Its operating revenue for the reviewed quarter totaled Rs 1,803 crore, more than trebling from the pandemic-affected quarter’s level of Rs 492 crore.

“The group’s financial performance for the corresponding quarter of the previous year had been impacted by Covid-related business disruptions. The relative operating performance for a few weeks in Q4FY22 had also got impacted due to temporary restrictions imposed in wake of the third Covid wave. However, Covid-related disruptions have declined thereafter,” said Trent.

Trent’s primary source of growth is still Zudio. In the years FY22–24E, we anticipate a 50% CAGR in revenue growth. The company noted that its long-term goal is to increase sales at a CAGR of 25% or more.

One of the top companies in India’s branded retail sector is Trent. As a member of the Tata Group, Trent’s flagship concept, Westside, provides branded clothing, accessories, and footwear for men, women, and children as well as a selection of home furnishings and decor.

Additionally, it features brands including Zudio, a bargain fashion concept, Star Market, a chain of supermarkets and hypermarkets, and Landmark, a family entertainment concept that sells a selected selection of toys, frontlist books, stationery, and sports gear.

Tata Chemicals is one of three stocks in today’s F&O suspension on the NSE

Aryan Jakhar — Tue, 16 Aug 2022 03:24:37 +0000

The National Stock Exchange has prohibited trading in a total of three equities under the futures and options (F&O) segment beginning on Tuesday, August 16, 2022. (NSE). The securities have been prohibited from trading in the F&O segment because, according to the NSE, they have exceeded 95% of the MWPL.

Tata Chemicals has been added to the stock ban list for today, while Balrampur Chini and Delta Corp have been removed off the stock exchange’s F&O ban list for Tuesday. Every day, the NSE updates its list of securities that are banned from trading in F&O.

“It is hereby informed that all clients/members shall trade in the derivative contracts of said securities only to decrease their positions through offsetting positions,” the stock exchange said. “Any increase in open positions shall attract appropriate penal and disciplinary action,” NSE added.

The stock exchange has currently placed the derivative contracts in the aforementioned securities that have exceeded 95% of the market-wide position limit under the ban period, according to NSE.

For any of the F&O contracts on that specific stock while it is in the F&O ban period, no new holdings are permitted. The MWPL (market-wide position limit), which is the maximum number of contracts that may be open at any given moment (open interest), is determined by the stock exchanges. As a result, if the open interest of a stock surpasses 95% of the MWPL, the F&O contracts for that stock enter a ban period.

Singapore Nifty, the Indian Nifty traded on the Singapore Stock Exchange, predicts a gap-up opening for the Indian stock market today, so Indian indices may begin the day strongly. On Friday, the Nifty extended gains for a sixth straight session as the benchmark BSE Sensex increased by 130 points. Due to a public holiday on Monday, the stock market was closed.

Tata Steel’s stock price has increased 12.5% since split

Aryan Jakhar — Fri, 12 Aug 2022 09:43:54 +0000

Since the stock split last month, the price of Tata Steel has increased significantly. It increased 12.5% in the previous 11 sessions. On the NSE intraday on Friday, it increased by around 3.5% to Rs 112.90 per share. The 52-week range for Tata Steel is 153.45-82.70.

In the April-June quarter of the fiscal year 2021–2023, Tata Steel reported a consolidated profit of Rs 7,764.96 crore, down approximately 13% year over year (YoY), and consolidated revenue of Rs 63,430 crore, up 18.6% YoY.

At roughly 2:00 PM, the stock was up almost 3% to Rs 112.6 per share on the BSE and NSE, while the BSE Sensex and Nifty were up 0.26 and 0.27 percent, respectively. The counter has increased roughly 25% and down 22% during the past month and year, respectively.

Prior to the split, Manoj Dalmia, founder and director of Proficient Equities, advised investors to purchase Tata Steel shares because the stock may trade at a discount following the split.

The industry expert had previously stated that while business in the European market flourished, Tata Steel’s deliveries in India were somewhat lower as a result of a decrease in exports caused by various restrictions.

With a target price of Rs 140 per share (Rs 1400 prior to the stock split), international brokerage company JP Morgan rates Tata Steel as Overweight, meaning a potential gain of more than 28%. The company stated that Europe drove a significant all-around beat in Q1 and that it sees upside risks to consensus.

JP Morgan claims that the business has significantly outperformed expectations across the board, helped by Europe. Contractual prices provided a significant tailwind that helped Tata Steel Europe announce record EBITDA that was up 294 percent year over year.

Tata Motors signs an agreement to pay Rs 726 crore for Ford India’s Sanand facility

Aryan Jakhar — Mon, 08 Aug 2022 04:18:56 +0000

According to Tata Motors, its subsidiary has signed a contract to pay Rs 725.7 crore to buy Ford India’s Sanand manufacturing facility.

A Unit Transfer Agreement (UTA) for the purchase of the Gujarat-based factory has been signed by Ford India Pvt Ltd (FIPL) and Tata Passenger Electric Mobility Ltd (TPEML), both of which are subsidiaries of Tata Motors.

According to a statement released by the Mumbai-based car giant, Tata Motors would receive the complete plot of land, the buildings, the vehicle manufacturing facility, as well as the machinery and equipment that are now located there. All transferable staff are also part of the agreement, it was said.

According to Tata Motors, FIPL will continue to run its power train manufacturing facility by renting the land and buildings of the factory from TPEML under mutually agreeable terms. In the case that FIPL ceases such operations, TPEML has committed to extend an offer of employment to qualified plant workers, it was said.

On May 30, 2022, the Gujarati government, TPEML, and FIPL already signed a tripartite memorandum of understanding (MoU) to support the necessary clearances for the aforementioned transaction. As its manufacturing capacity approaches saturation, according to Tata Motors, the acquisition is opportune and beneficial to all parties involved.

The Sanand facility has a 3 lakh unit annual production capability that may be increased to 4.2 lakh units annually. According to Tata Motors, TPEML will make the necessary expenditures to modify the factory to accommodate both current and upcoming car platforms.

The business is close to Tata Motors Passenger Vehicles Limited’s current Sanand manufacturing facility, which should aid in a smooth transfer, it was said.

The agreement with FIPL that was signed today is advantageous to all parties involved and reflects Tata Motors’ strong desire to further solidify its market position in the passenger vehicle segment and to maintain its leadership position in the electric vehicle segment, according to Shailesh Chandra, MD of Tata Motors Passenger Vehicles.

The announcement, according to Ford Motor Company Transformation Officer Steve Armstrong, represents a significant advancement in the company’s ongoing business restructuring in India.

The business said in September of last year that as part of a restructuring effort, it will halt vehicle production at its two sites in the nation.

According to Tata Motors, TPEML and FIPL would collaborate over the coming months to meet all condition precedents and secure the necessary regulatory clearances for the transaction’s conclusion.

Tata Power Solar bags Rs 1,731 crore solar project from state-run NHPC

United News of India (UNI) — Mon, 16 May 2022 06:29:40 +0000

Tata Power Solar on Monday said it has bagged an order of 300MW solar project worth Rs 1,731 crore from state-run NHPC in Rajasthan. With this Rs 1731 crore project, the company’s, a wholly owned subsidiary of Tata Power. Pending order book reaches Rs 13,500 crore and the total utility-scale solar project portfolio touches 9.7GWp. The company said in a statement issued here. “This project underlines the industry’s confidence in our ability to develop. And deliver world-class solar projects on time using state-of-the-art Indian technology”. Praveer Sinha, CEO and MD, Tata Power, said. The project will be developed under the CPSU scheme of IREDA. And is expected to be completed within 18 months’ time period. The project is expected to generate around 750 million units annually, while reducing around 6,36,960 carbon emissions. “Cells and modules made in India would be used in the project installation,” the company said.

(Except for the headline. This story has not been edited by Business Upturn staff and is published from a syndicated feed.)

TCS likely to implement a new operational structure for four business segments: Report

Vineet Jain — Tue, 01 Mar 2022 05:38:08 +0000

According to The Economic Times, Tata Consultancy Services (TCS) will announce a new operational model with four different business divisions to drive the next phase of growth for India’s largest software exporter as it strives for the $50 billion sales milestone.

TCS will split its whole business into four groups beginning in April: acquisition, relationship incubation, enterprise growth, and business transformation, presenting an industry-first model that shifts away from the “traditional three-dimensional (framework) of geography, vertical, or services,” according to ET inputs, while focusing on clients, their evolving digital needs, and faster delivery times.

“The operating model will be aligned to the customer journey at every step, leaders who have been groomed ( for this model) will lead these new groups,” the publication reported.

According to the report, the CEO Rajesh Gopinathan, who is overseeing the transition, would report directly to the heads of all four organizations. When questioned about the restructuring plan, a TCS spokeswoman refused to comment on the company’s “internal business plan or strategies.”

TCS presently operates in a variety of business verticals, including retail and consumer packaged products, banking and financial services, and communication.