Page 18 - Tata Group

Air India's low-cost airline Air India Express posts Rs 163 cr loss in FY24

While the company's total income increased by 33 per cent year-on-year (Y-o-Y) to Rs 7,600 crore in FY24, its total expenditure grew by 38.3 per cent to Rs 7,763 crore in the same period

Will keep introducing innovations in beverages and food: Tata Starbucks CEO

The coffee penetration in the country is around 14-15 per cent, and at a cafe level, around 25 per cent for the affluent section

Beauty brand Nykaa sues former top official for contract breach, poaching

Nykaa has sued its ex-chief business officer Gopal Asthana, now at Tata Cliq, for breaching confidentiality and poaching former employees. Nykaa is seeking over Rs 20 crore in damages from Asthana

Relief to Tata's IHCL; Delhi HC bars 'Taj Iconic' from using 'Taj' name

Delhi High Court has ordered the MD of Taj Iconic to pay Rs 10 lakh in damages and Rs 5 lakh in costs to IHCL, in a trademark lawsuit filed by the Tata Group

Entrepreneur Siddhartha Yog buys over one mn shares of Trent for Rs 718 cr

Global investor Siddhartha Yog on Monday acquired over 10 lakh shares worth Rs 718 crore of Tata Group retail firm Trent Ltd through an open market transaction. Yog is the founding partner of Xander Group Inc, an emerging markets-focused investment firm that currently manages assets of more than USD 3 billion. According to the block deal data available on the National Stock Exchange, Siddhartha Yog bought 10,09,200 shares, amounting to a 0.3 per cent stake in Trent. The shares were purchased at an average price of Rs 7,115 apiece, taking the transaction value to Rs 718.04 crore. The data showed that Dodona Holdings offloaded the same number of shares at Rs 7,115 apiece. Shares of Trent fell 0.09 per cent to close at Rs 7,151.95 per piece on the NSE. Last month, Siddhartha Yog acquired a total of 9.48 lakh shares or 0.27 per cent stake of fashion and lifestyle company Trent from Dodona Holdings Ltd through separate block deals for a combined value of Rs 649 crore. The shares were

Tata-owned Air India to soon provide Wi-Fi facilities on board flights

Air India will soon introduce Wi-Fi on board flights, starting with the A350 aircraft on the Delhi-London Heathrow route. The Tata Group-owned airline, which has embarked on an ambitious transformation journey, on Sunday commenced services between Delhi and London Heathrow with the A350-900 plane. The flight will be operated twice a day on the route, a release said on Monday. Its A350 aircraft feature 28 private suites with full-flat beds in business, 24 seats in premium economy and 264 economy seats. According to the airline, it will be introducing on board Wi-Fi soon, starting with the A350 on the Delhi-London Heathrow route. Earlier this year, the loss-making carrier started inducting A350 planes. "The A350-900 will replace the currently deployed Boeing 777-300ER and Boeing 787-8 Dreamliner on 14 of the 17 weekly flights. As a result, an additional 336 seats will be available on the Delhi-London Heathrow route each week," the release said.

Tata Consumer Products completes merger of three subsidiaries in India

FMCG maker Tata Consumer Products Ltd (TCPL) has merged its three wholly-owned subsidiaries after getting approval from NCLT and other regulatory clearances. TCPL has merged its wholly-owned subsidiaries Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd with the company, according to a statement from Tata Group FMCG arm. "We wish to inform you that the conditions outlined under Clause 17 of the Scheme, including the filing of certified copies of the order with the Registrar of Companies, of the respective companies, in Form INC-28, have been duly completed. Accordingly, in terms of the Scheme, the effective date of the scheme (of merger) is September 1, 2024," the company said in a regulatory filing. This is in line with the company's focus on simplifying and streamlining the business. This consolidation of legal entity structure will unlock efficiencies and synergies, it added. "There is no change in the operating structure for these business units a

Tata Group to give jobs to 4,000 women from U'khand at TN, Karnataka plants

Tata Group will give jobs to 4,000 women from Uttarakhand at its plants in Tamil Nadu and Karnataka. Its Chief Human Resource Officer Ranjan Bandopadhyay has written a letter to this effect to the state planning department, an official release said here on Monday. The recruitment process will begin soon, it said. Tata Electronics Pvt Ltd will appoint 4,000 women candidates from Uttarakhand at its plants in Hosur in Tamil Nadu and Kolar in Karnataka under the NPS and NATS programmes, the release said. Those who have cleared class 10 or 12 examinations are eligible for NPS programmes, while for NATS an ITI diploma is necessary in addition to these, it said. After selection, they will be appointed as shop floor technicians. Apart from a fixed salary, they will also get accommodation, food, transportation and other facilities, it said.

Tata Sons avoids mandatory listing after repaying Rs 20,000 crore debt

Tata Sons, the holding company of the Tata Group, has voluntarily surrendered its certificate of registration to the Reserve Bank of India (RBI)

A key lesson from Jamsetji to the leader of the future: Develop four Qs

To achieve all that he did in his lifetime, besides IQ and EQ, the Tata group founder must have been rich in adaptability and spirituality quotients too

DGCA slaps Rs 90 lakh fine on Air India for flying with unqualified crew

Air India Director of Operations and the Director of Training also face Rs 6 lakh and Rs 3 lakh fines, respectively

TCS launches latest Pace Studio in Stockholm, first in Nordic region

Indian IT company's facility will offer customers access to an innovation ecosystem

Tata Consumer Products closes Rs 3,000 cr rights issue after 14 days

Tata Consumer Products Ltd on Monday said it has closed its rights issue of Rs 3,000 crore. The company had opened the issue on August 5, Tata Consumer Products Ltd (TCPL) said in a regulatory filing. The meeting of the capital raising committee of the board of the company held on July 23, 2024, approved the terms of the issuance of equity shares face value of Re 1 each by way of rights issue for an amount aggregating up to Rs 2,997.77 crore, it added. "The issue opened on Monday, August 5, 2024 at 9 am and closed today (Monday), August 19, 2024 at 5 pm," the filing said. In January this year, the company's board had approved a fundraising proposal of Rs 3,500 crore, which was meant to be utilised for the acquisitions of stakes in Capital Foods Pvt Ltd and Organic India Pvt Ltd. The company had stated that raising of funds by way of issue of equity shares of face value Re 1 each would not exceed Rs 3,000 crore.

Tata's Rs 6K cr plant for iPhones likely to start operations in November

Hosur factory to be second assembly plant for Tata

Tata Steel's Aashiyana expects to cross Rs 3,500 crore GMV in FY25

Tata Steel's retail sales volume was about 2 million tonne (mt) in FY24

AI, Vistara get DGCA nod to integrate aircraft line maintenance operations

Aviation regulator DGCA has approved integrating the aircraft line maintenance operations of Air India and Vistara as the two airlines move close to their merger. In a release on Friday, Air India said the integration will help in optimising resources to enhance operational performance and reduce aircraft turnaround times to bolster on-time performance. "With a unified maintenance team and resources, Air India will be better positioned to service a mixed fleet of wide body and narrow body aircraft, enhancing schedule integrity and reliability of operations," it added. The two airlines, part of the Tata Group, have secured the CAR (Civil Aviation Requirement) 145 approval from the Directorate General of Civil Aviation (DGCA) to integrate their aircraft line maintenance operations. Vistara is a joint venture between Tatas and Singapore Airlines. So far, Air India has in-house line maintenance at 12 stations in the country. "Enhanced synergy of the combined resources will also ensur

Tata Motors, Tata Power partner to boost EVs, solar power adoption

Two Tata Group companies will provide comprehensive solutions that include the purchase of an electric vehicle and the installation of a solar rooftop system

Tata Chemicals Q1FY25 results: PAT down 72% at Rs 150 cr on lower income

Tata Chemicals on Monday reported a 72 per cent decline in its consolidated net profit to Rs 150 crore for the first quarter of this fiscal year. Its net profit stood at Rs 532 crore in the year-ago period. Total income also declined to Rs 3,836 crore in the April-June period of 2024-25 from Rs 4,267 crore in the corresponding period of the previous year, according to a regulatory filing. Total expenses increased to Rs 3,621 crore from Rs 3,527 crore during the period under review.

Tata Electronics Assam chip plant to be operational in 2025: Chandrasekaran

Union Minister for Electronics and IT Ashwini Vaishnaw, expressing optimism about the project, said that the construction of the Assam plant will boost the overall ecosystem in the region

Tata's Assam plant to make 48.3 mn chips per day with native tech: Vaishnaw

Tata Group's semiconductor plant in Assam will produce 4.83 crore chips per day using indigenously-developed technologies, Union minister Ashwini Vaishnaw said on Saturday. Assam Chief Minister Himanta Biswa Sarma and Chairman of Tata Sons Limited N Chandrasekaran on Saturday performed the Bhumi pujan of the Rs 27,000-crore semiconductor assembly and test facility at Jagiroad in Morigaon district. The project was approved by the Union Cabinet chaired by Prime Minister Narendra Modi on February 29, 2024. "The construction of the plant has started in short span of five months after the project was approved. It will manufacture about 4.83 crore chips per day. The unique thing about this plant is that all the three major technologies which will be deployed in this plant are developed in India," Vaishnaw said. The minister said that the chips manufactured at the Tata plant will be used in vehicles including electric vehicles, and practically every large company will be using their ...