Tata group directors to meet in Mumbai on May 20 to talk future vision

The Tata group has called a meeting of top officials and directors of all group companies on May 20 in Mumbai. They are expected to discuss plans and vision for the future. The salt to software conglomerate has 30 firms across ten verticals.

A Tata group spokesperson declined to comment on the matter but insiders said the meeting will be held in the backdrop of good financial performance of the group companies in FY24. About 100 directors are expected to attend the meeting which will be addressed by Chairman N Chandrasekaran. 

ALSO READ: This Tata Group stock has surged 53% so far in CY24; jumped 120% in 6 mths
 

In April, Chandrasekaran laid out the vision in a gathering of group leaders in the annual offsite meeting in Dubai.


TCS to pay more brand fee to Tata Sons 

Tata Consultancy Services has increased its brand equity contribution to Tata Sons, the holding company of the Tata group, to Rs 200 crore from Rs 100 crore, according to the annual report of the company. This also signals a rise in brand fees payment by other group companies to the holding firm.
 

The  group had earlier put a cap on the brand subscription fee to group firms and this has now been lifted, leading to higher payout by TCS, said a source. 
 

The group is planning an investment worth $120 billion across group firms in semiconductor, defence, iPhone manufacturing, EVs, aviation and financial services over the next few years. It is expected to discuss these plans with top officials, said a source. The group is also planning to invest $5.2 billion in a battery factory in the UK for the use of the EV industry. The group is also going ahead with its £1.25 billion ($1.5 billion) electric arc furnace project at its Port Talbot plant to replace two aged blast furnaces.

rejecting a plea by UK unions to keep a furnace running to prevent job losses.

In India, the Tata group has made its largest investments in two semiconductor manufacturing factories in Gujarat and Assam with an investment of $14 billion which would employ over 47,000 people.

As the group moves into the growth mode, the vision for the group will be articulated in the meeting, said a source, asking not to be identified. In the last few years, the group has already moved out of the loss-making wireless telephony business.