Page 31 - Tata Group

Tata Technologies shares soar 2.7 times on blockbuster market debut

The global ER&D player registers best listing-day performance for an IPO of over Rs 500 crore

Tata Coffee gets board nod for Rs 450 cr investment for capacity expansion

Tata Coffee on Thursday received the board's approval for the capacity expansion of its Vietnam-based wholly-owned subsidiary firm at an investment of Rs 450 crore. The board has approved the setting up of an additional 5,500-tonne freeze-dried coffee facility in Vietnam, the company said in a regulatory filing. Tata Coffee said the additional capacity would be created with an investment of USD 53.3 million (approximately Rs 450 crore). The funds will be sourced from internal accruals and bank financing, it said. The company said the current capacity of Tata Coffee Vietnam Company is about 5,000 tonnes. About 96 per cent of the total capacity is under utilisation. The additional capacity which is proposed to be added in next two years aims to cater to growing demand for freeze-dried product, it added.

Tata Technologies stock soars after smashing debut, valued at $6.4 billion

The shares surged past the initial public offer price of 500 rupees to debut at 1,200 rupees before hitting the day's high of 1,400 rupees and ending 163% higher at 1,313 rupees

Jewellery brand Tanishq expands footprint in US, opens two stores in Texas

Tanishq, an Indian jewellery brand, has opened its store here and in Frisco as part of its global business expansion strategy and to cater to the growing needs of the Indian diaspora in the US. The US state of Texas, with the second largest Indian Diaspora, is now home to two of Tanishq's stores, one in Houston and the other in Frisco, near Dallas. At the inaugural event, the Consul General of India in Houston, DC Manjunath was the Chief Guest. He was joined by CK Venkataraman, Managing Director, Titan Company Limited, Kuruvilla Markose, CEO of Titan International business and Michael McCabe, Resident Director, North America, Tata Sons. The brand is owned by The Tata Group, a Mumbai-based multinational conglomerate. Delighted to see that Tanishq, Tata company's jewellery arm opened its 2 new stores in Texas; Houston & Frisco, thus enhancing India-US connection, Consul General Manjunath told PTI. Tanishq spells beauty with elegance, style with tradition, on the solid principles of

Tata Tech lists at 140% premium; Should you buy, sell or hold the stock?

The handsome gains were expected due to the robust demand for the IPO, which was subscribed 69 times against the shares on offer

Tata Technologies IPO listing tomorrow: Here's what the experts expect

Tata Technologies IPO subscription: It was subscribed 69.43 times as of the final day of subscription on November 24, driven by high participation from institutional buyers

In a first, Tata Power Renewable Energy secures 200 MW FDRE project

Tata Power Renewable Energy Ltd (TPREL) has bagged a 200 MW firm and dispatchable renewable energy (FDRE) project from SJVN Ltd. FDRE provides round-the-clock power supply and supports the discoms in meeting renewable purchase obligation (RPO) and energy storage obligation (ESO), Tata Power said in a regulatory filing. The company said its subsidiary, "Tata Power Renewable Energy Limited (TPREL), has received a Letter of Award (LOA) for developing the 200 MW FDRE project with SJVN Ltd (SJVN)," the company said. The company, however, did not disclose the financial details of the order. SJVN is a public sector undertaking (PSU) involved in hydroelectric and renewable power generation and transmission and has been designated as the Renewable Energy Implementing Agency (REIA) by the Ministry of New & Renewable Energy (MNRE) for achieving the nation's target of achieving 500 GW by 2030. This is the first FDRE power tender won by TPREL. It (tender) also includes a greenshoe option, ...

TCS ties up with Amazon Web Services to launch generative AI practice

The country's largest IT services exporter TCS on Monday announced its tie-up with Amazon Web Services to launch a dedicated generative artificial intelligence practice. The Tata Group company recently announced that it has imparted foundation training on GenAI for 1 lakh employees across the world. The practice will focus on using responsible AI frameworks and its "Paceport innovation hubs" to build a comprehensive portfolio of solutions and services for every industry sector, as per an official statement. It has already bagged a customer, with the world's largest hotel franchising company Wyndham Hotels and Resorts extending its strategic partnership with TCS and AWS to manage its digital transformation journey. Generative AI has captured the attention of enterprises globally for its potential to significantly reshape industries, the statement said, adding that TCS has already been working on GenAI with clients. TCS is at present focused on certifying over 25,000 employees on AW

Tata Steel appoints Akshay Khullar as VP of Engineering and Projects

Tata Steel on Monday announced the appointment of Akshay Khullar as the Vice President Engineering and Projects of the company. Tata Steel has also re-designated Peeyush Gupta as the Vice President TQM, group strategic procurement and supply chain of the company. "In terms of the company's succession plan for Senior Management Personnel, Akshay Khullar is being appointed as the Vice President Engineering & Projects (Designate), effective December 1, 2023 and as the Vice President Engineering & Projects, effective February 1, 2024," Tata Steel said in a regulatory filing. While Peeyush Gupta, currently serving as the Vice President Group Strategic Procurement and Supply Chain will lead the Total Quality Management (TQM) function, in addition to his current responsibilities, it said. Accordingly, effective February 1, 2024, Gupta will be re-designated as the Vice President TQM, Group Strategic Procurement and Supply Chain. In the filing, Tata Steel also announced ...

Tata Technologies IPO: Company finalises offer price at Rs 500 per share

Tata Motors on Saturday said its arm Tata Technologies has finalised the offer price, including the anchor investor offer price, at Rs 500 per equity share for its Initial Public Offering (IPO). The Rs 3,042.5 crore IPO of Tata Technologies, which provides engineering and product development digital services, was subscribed 69.43 times on the final day of subscription on Friday, driven by remarkable participation from institutional buyers. "...Tata Technologies Ltd in consultation with book running lead managers to the IPO, has finalised the offer price, including the anchor investor offer price, at Rs 500 per equity share of face value of Rs 2 each," Tata Motors said in a regulatory filing. The public issue had a price band of Rs 475-500 per share. Accordingly, the size of the IPO aggregates to Rs 3,042,51 crore comprising an offer for sale of 4.63 crore equity shares by Tata Motors amounting to Rs 2,313.75 crore, 97.17 lakh equity shares by Alpha TC Holdings Pte Ltd amounting to

Probing data breach claim, no current security issue detected: Tata's IHCL

Tata group hospitality firm Indian Hotels Company Ltd on Thursday said it is investigating claims of a data breach, but asserted there is no suggestion of any current or ongoing security issue. According to a media report, there has been a personal data breach of 15 lakh users from the Taj Hotel database, which is available on the dark web for purchase at USD 5,000. "We have been made aware of someone claiming possession of a limited customer data set which is of non-sensitive nature," Indian Hotels Company Ltd (IHCL) spokesperson said in a statement. Asserting that safety and security of customers' data is of paramount importance to the company, the spokesperson said, "We are investigating this claim and have notified the relevant authorities." The spokesperson further said, "We continue to monitor our systems and there is no suggestion of any current or ongoing security issue or impact on business operations." IHCL runs a number of hospitality properties under the Taj, SeleQtion

IREDA IPO subscribed 38.8 times; Tata Technologies, Gandhar at 15x

IREDA has set the price band for its IPO between Rs 30 and Rs 32 per share

Titan hits new all-time high; enters Rs 3 trillion market-cap club

The stock hit a new high of Rs 3,400, up nearly 2 per cent on the BSE in Tuesday's intra-day trade on expectations of healthy December quarter earnings

Tata Motors commences sales of its commercial vehicles in Thailand

Tata Motors on Tuesday said it has commenced sales of its commercial vehicles in Thailand. The company said it has introduced a line-up of trucks, including Super Ace, Ultra T.9, Ultra T.14 and the flagship Prima 5038.S, with a gamut of value-added services, in the country. In April this year, Tata Motors announced a strategic partnership with Inchcape plc as its distributor for commercial vehicles in Thailand. Inchcape plc will also establish an extensive network of 13 customer touchpoints -- including sales, service and spare parts -- strategically located to provide seamless assistance to its customers. "Jointly with Inchcape, we are confident of delivering complete peace of mind to our customers with our strategically located sales and service touchpoints in Thailand," Tata Motors Commercial Vehicles Head (International Business) Anurag Mehrotra noted. At the outset, Inchcape will offer the Super Ace, Ultra T.9, Ultra T.14 and the flagship Prima 5038.S to address the varied

TCS to take $125 mn hit to Q3 earnings over US trade secret lawsuit

The US Supreme Court on Monday rejected TCS' appeal against a verdict passed by the District Court of Wisconsin, upholding an order that includes $140 million in punitive damages

Titan plans to hire over 3,000 employees in next 5 years across domains

The Titan Company on Tuesday said it is planning to add over 3,000 employees in the next 5 years across domains including engineering, design, luxury, digital, data analytics, marketing and sales among others. The company is looking for professionals with specialised skills such as data analytics, cyber security, product management, digital marketing and other new-age skills amongst others, a company statement said. "We are embarking on an exciting journey towards becoming a Rs 1,00,000 crore business in the next 5 years. Our aggressive hiring strategy of adding 3,000 people in the next 5 years reflects our dedication to hire a diverse and talented workforce. "We believe that alongside growing our own people it also helps to bring in experts from various fields, young and experienced. This will accelerate our growth and innovation, strengthening our position in the industry," Titan Company Head HR- Corporate and Retail, Priya Mathilakath Pillai said in a statement. Currently, 60 pe

Analysts upbeat on Tata Tech IPO; GMP signals robust demand

Tata Technologies IPO: In the grey market, the stock is commanding a premium of up to Rs 350 or 70 per cent over the upper price band of Rs 500

Tata Power Renewable Energy adds 1.4 GW in group captive projects

Tata Power Renewable Energy Ltd (TPREL) on Monday said it has added 1.4 GW group captive projects to its portfolio in the last six months in India. With the addition of these group captive projects, TPREL said its overall renewables capacity reached 7,961 MW as of October 2023, a company statement said. The portfolio comprises 3,755 MW projects in different phases of development, it added. Its operating 4,206 MW capacity includes 3,200 MW in solar projects and 1,006 MW in wind projects. TPREL has added 1.4 GW capacity of group captive projects in the last six months (June-November), the statement stated. This achievement is the result of the signing of Power Delivery Agreements (PDA) with various industries across segments, it explained. Some of the prominent group captive projects that TPREL has signed include collaborations with Tata Steel, Tata Motors, Mukand Limited (a Bajaj Group company), and Sanyo Special Steel Manufacturing India Pvt, among others. TPREL CEO and MD Deepe

Tata Technologies IPO opens Nov 22, price band set at Rs 475-500 per share

The maiden public issue will open for public subscription on November 22 and conclude on November 24. The anchor book of the offer will be opened for a day on November 21

Air India set to receive new aircraft every six days in next 18 months: CEO

Air India has ordered 470 aircraft to serve the Indian economy and is set to receive a new aircraft every six days over the next 18 months, CEO and MD Campbell Wilson said on Friday. He was speaking at the 67th Assembly of Presidents of the Association of Asia Pacific Airlines here. We have new aircraft, we are recruiting many, many new crew and staff, improving the training regime and there is more work to do and we are making good progress, he said. Speaking at a session, Wilson said a vast majority of Air India customers want reliability and punctuality, and the challenge is to satisfy customers' requirements. Moreover, new aircraft are being put on international flights and most of the grounded planes have been restored, Wilson added. Tata-owned Air India has ordered 470 aircraft to serve the Indian economy which is growing at a compound annual growth rate (CAGR) of 8 per cent and it is set to receive a new aircraft every six days over the next 18 months, he said. He also exu