Page 19 - Tata Group

Tata's Rs 27,000 cr chip plant in Assam operational by 2025: Chandrasekaran

Tata Electronics' Rs 27,000-crore chip assembly plant in Assam will create 27,000 jobs and is expected to become operational in 2025, Tata Sons Chairman N Chandrasekaran said on Saturday. Speaking on the occasion of chip plant's Bhumi Pujan ceremony, Chandrasekaran said that the company has already employed 1,000 people from Assam and as the facility expands it will bring entire semiconductor ecosystem companies. "At its capacity it will employ 27,000 people, 15,000 direct jobs and additional 12,000 indirect jobs. We want to move fast. We are trying to accelerate the building of this factory. We hope sometime in 2025 we will be able to complete this facility and quickly start operations," Chandrasekaran said. Already we have 1,000 people who have been employed from Assam. He said the other semiconductor ecosystem companies will start as supplier but gradually they will set up units in the country. The ceremony was attended by Assam Chief Minister Himanta Biswa Sarma who said it wa

Titan Q1 results: Net profit declines 5% to Rs 715 crore, misses estimates

The Tata group-owned company reported a 5% fall in consolidated profit to Rs 715 crore ($85.4 million) in the quarter ended June 30, from Rs 756 crore an year ago

Trent hits new high, up 4% on strong outlook; stock on 8-day winning run

In the past one year, the stock price of Trent has zoomed 231 per cent, as compared to 23 per cent rise in the BSE Sensex.

Tata Group drops plan to acquire stake in Vivo India over Apple's objection

Vivo had plans to sell a 51% stake in its Indian subsidiary to the Tata group. But Apple objected, as its devices are currently being produced by the Tata group in Bangalore

Tata Steel gets 5.57 bn equity shares in Singapore-based arm for $875 mn

Tata Steel on Monday said it has acquired over 557 crore equity shares in its Singapore-based arm for USD 875 million. In May, Tata Steel's board had approved infusion of funds into T Steel Holdings Pte Ltd (TSHP), by way of subscription to equity shares in one or more tranches, the company said in an exchange filing. "Further to our disclosure dated May 29, 2024... we wish to inform you that, the company has today acquired 557,32,48,408 equity shares of face value USD 0.157 each aggregating to USD 875 million (Rs 7,324.41 crore) in TSHP," Tata Steel said. Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it said.

A leader is just a comma

Long-remembered leaders desist from trashing their predecessors

Tata Motors' market capitalisation crosses Rs 4 trillion for the first time

Tata Motors is currently the second-most valuable company in the salt-to-software Tata Group after Tata Consultancy Services

Tata Sons raises Tata Electronics' equity capital to Rs 10,000 crore

Tata Sons plans to establish a large-scale semiconductor fabrication plant and invest an additional Rs 27,000 crore to develop a new semiconductor assembly and testing facility in Assam

Air India unlikely to extend services of 300 non-flying employees on FTC

As many as 300 non-flying employees on fixed-term contract (FTC) at the Tata Group-owned Air India are unlikely to get their service agreements renewed after they failed to secure a place in the company in the run-up to the merger of Vistara with it, sources privy to the development have said. So far, these employees, who have been working with Air India for 10-15 years in different departments, had been getting their employment contracts renewed, they said. "But as they have not been assigned any role during the fitment exercise, which is almost complete now, their contracts are not unlikely to be renewed," a source told PTI. The number of FTC employees who may not get their contracts renewed stands around 300, said another source. Air India did not respond to a PTI's query on the issue. The airline on Wednesday announced a voluntary retirement scheme/voluntary separation scheme to its permanent employees who have been found redundant or surplus in the fitment exercise. "Being o

Air India unveils voluntary retirement, separation schemes before merger

The Tata Group-owned airline introduced voluntary retirement scheme for employees with at least five years of service, and voluntary separation scheme for those with less than five years of service

Assam govt, Tata Group ink land deal for Rs 27,000 cr semiconductor plant

The Assam Government on Tuesday signed an agreement with the Tata Group to lease over 170 acres of land to the company at Jagiroad in Morigaon district for a Rs 27,000-crore semiconductor plant. The 60-year lease agreement was finalised at the sub-registrar's office by Tata Group Board member Ranjan Bandopadhyay and Assam Industrial Development Corporation's (AIDC) manager (tech) and project in-charge Dhiraj Pegu. District Commissioner (DC) Devasish Sharma, along with Tata Group officials, including Kaninika Thakur, Ashish Mishra, and Avinash Dhabade, were present on the occasion. Speaking to reporters after signing the deal, Sharma said it was a significant day for the entire state. The facility, to be built on the site of the former Hindustan Paper Corporation Limited, is expected to create over 30,000 jobs, with the first phase set to be operational by mid-2025. The transfer of land has been completed. The team from Tata Group informed us that work will commence soon. We expres

Tata Group to retain Air India's top management post-Vistara merger

Campbell Wilson will continue as the chief executive officer, with Nipun Aggarwal and Sanjay Sharma remaining as the chief commercial and transformation officer, and chief financial officer

Tata Power steps up efforts to rejig debt, working capital measures

As of March 2024, Tata Power's consolidated debt stood at Rs 49,480 crore

Air India likely to offer voluntary separation scheme for 600 employees

Air India will introduce a Voluntary Separation Scheme (VSS) for around 600 employees whose roles may become redundant due to the merger with Vistara

Tata airlines complete harmonising operating process ahead of merger

Vistara, a joint venture between Tata Group (51 per cent) and Singapore Airlines (49 per cent), is being integrated into Air India to create a single full-service carrier

Tata Motors Group reports 2% increase in Q1 FY25 global wholesales

CV sales up, passenger vehicles dip slightly; JLR growth strong

Tata group airlines complete harmonising operating manual ahead of merger

The harmonisation of operating manuals across all Tata group airlines has been completed in the run-up to the Vistara-Air India merger and amalgamation of AIX Connect with Air India Express, a statement said on Monday. At present, the steel-to-software conglomerate fully owns three airlines -- Air India, Air India Express and AIX Connect (formerly AirAsia India) -- while it holds a majority of 51 per cent in Vistara. Singapore Airlines holds the remaining 49 per cent in Vistara. Following the completion of the harmonisation of the operating manuals, Air India said there will be two separate manuals, one for the full-service carrier Air India and the other for the low-cost cost-carrier Air India Express. Before this, all four airlines had separate operating manuals. Over the last 18 months, a team of more than 100 members have worked to align on the best practices and adopt common operating procedures, Air India noted. "This is an important milestone in the merger of the Tata Grou

Tata Consumer Products to boost growth of tea, coffee, salt businesses

Leading FMCG company Tata Consumer Products Limited (TCPL) will continue to invest in its brands and accelerate the growth momentum of the core businesses, tea, coffee and salt, the company's annual report said. In the annual report for 2023-24, TCPL said that to strengthen and accelerate core businesses, contribution of modern trade to total sales within the country was 14 per cent driven by the growth of new businesses. During 2023-24, the company continued to undertake focused brand-building efforts and launched several products. TCPL said that central to the company's growth strategy was on focusing on the core businesses of tea, coffee and salt. TCPL (formerly Tata Tea) said the company strengthened the tea and coffee businesses and also created new vectors of growth. The company was also successful in driving profitable growth in the key international markets of UK, USA and Canada. The company's focus on innovation lay in its belief that it is a strong strategic pillar and pl

A sunny farm to factory worker story at Tata Hitachi plant in Bengal

About 60 per cent of the workforce are land givers, with one member from each displaced family employed

Chinese smartphone giants seek Indian partnerships amid govt push

Vivo, Oppo, and Xiaomi are in discussions to collaborate with Indian companies for manufacturing and distributing their products in India, however, major conglomerates seem hesitant