Page 33 - Tata Group

Tata Steel to acquire 26% stake in Tata Power Renewable Energy arm TPVSL

Tata Steel on Thursday said it will acquire a 26 per cent stake in TP Vardhaman Surya Ltd (TPVSL), an arm of Tata Power Renewable Energy Ltd. The company did not disclose the transaction value. It will also source 379 megawatt (MW) of clean energy from Tata Power Renewable Energy Ltd (TPREL), Tata Steel Ltd (TSL) said in a statement. TSL has concluded the negotiations to enter into definitive agreements with TPREL to acquire 26 per cent in TPVSL, currently a wholly-owned subsidiary of TPREL. TSL will also enter into an agreement with TPREL to source 379 MW of renewable power, the statement said. Tata Steel CEO and managing director T V Narendran, said: "Our partnership with Tata Power Renewable Energy marks a pivotal step in Tata Steel's sustainability journey towards achieving net zero carbon emissions by 2045. We stay committed to reducing our environment footprint and transitioning towards clean, green energy solutions.

NCLT approves Tata Steel Long Products' amalgamation with Tata Steel

Tata Steel Long Products Ltd on Thursday said the National Company Law Tribunal (NCLT) has approved the amalgamation of the company with Tata Steel Ltd. Tata Steel is to merge Tata Steel Long Products and six other subsidiaries with itself. In a regulatory filing, Tata Steel Long Products said the NCLT's Cuttack bench, on October 18, sanctioned the scheme of amalgamation of the company with Tata Steel. Earlier, Tata Steel CEO & MD T V Narendran had said the merger of the subsidiary companies with itself is expected to be completed in 2023-24. The subsidiaries to be merged with Tata Steel are Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, Tata Steel Mining and S&T Mining Company.

A-I Express unfurls new logo, livery; to induct 50 planes in 15 months

Air India Express said it has a fleet of 58 aircraft comprising 28 Boeing 737s and 28 Airbus A320s

A-I Express set to induct 50 new Boeing 737 MAX planes in next 15 months

Air India Express, which is in the process of merging AIX Connect with itself, plans to induct 50 new B737 MAX planes in the next 15 months as the Tata Group bolsters its aviation business. Besides, the combined entity of Air India Express, also the country's first international budget carrier, and AIX Connect, formerly known as AirAsia India, will be launching its new brand on October 18. In a message to staff this week, Air India Express and AIX Connect Managing Director Aloke Singh said key milestones, including migration to a common reservations and check-in system, have been achieved in terms of integration of the two carriers. Currently, the combined entity has a fleet of 56 aircraft, including 26 B737, 2 B737 MAX, 5 A320 neo and 23 A320. "Over the next 15 months, a total of 50 new B737 MAX aircraft will join the LCC fleet, allowing us to grow our network to new destinations and increase flights on existing routes," Singh said in the message. According to him, the focus is n

Tata Capital Healthcare Fund II invests $10 mn in Apex Kidney Care

To open over 60 standalone Dialysis centres in the country

Air Asia transfers first A320 plane to Air India Express, says Wilson

AirAsia India and Air India Express currently have 28 and 26 planes in their respective fleets

Tata Power to hold 'Lok Adalat' on October 8 to settle 'power theft' cases

Tata Power Delhi Distribution Limited will hold a 'Lok Adalat' in association with the Delhi State Legal Services Authority on October 8, it said in a statement on Friday. The Lok Adalat -- to be held from 10 am to 4 pm at the discom's Delhi office -- will offer on-spot-settlement in cases connected to electricity theft. "Consumers who look forward to settling their power-theft cases can utilise this opportunity for an amicable and immediate settlement of unsolved cases," the statement said. Litigants can register for the Lok Adalat by dialling 19124 or writing to eac.care@tatapower-ddl.com. The complainants have been asked to carry photo IDs and a copy of their "theft bill".

Tata Group said to be in advanced talks for Temasek's Tata Play stake

The Indian conglomerate and the Singaporean state investor are in the final stages of discussions around the interest of about 20 per cent in Tata Play Ltd

Tata Asset Management sees value in large-cap stocks over smaller peers

"There are some managements (within these sectors) we are focusing on, which we believe can deliver," he said

India Inc's electric vehicle battery-making plans hinge on China imports

The processing, as well, remains heavily dependent on China for more than 90 per cent of the requirements, industry executives point out

After Reliance's entry into MF industry, Tatas evaluating bid for UTI AMC

It comes at a time when several new players have entered the market and consumers prefer real estate and bullion for investment

Air India enters into codeshare pact with its subsidiary AIX Connect

Tata Group-owned Air India has entered into a codeshare pact with its subsidiary AIX Connect and initially, the pact will cover more than 100 flights a day on 21 routes. "The codeshare implementation enables Air India guests to connect seamlessly on AIX Connect's route network to and from over 80 points across Air India's extensive domestic and international network," a statement said on Monday. AIX Connect is in the process of being merged with Air India Express to create a single low-cost carrier within the Tata group's airline business. According to the statement, Air India will add its 'AI' designator code to over 100 flights a day operated by AIX Connect on 21 routes. "More routes under the codeshare agreement will be added progressively. Bookings for the codeshare flights are being opened across points of sale, for travel starting 27 September 2023," it said. With the latest codeshare pact, Air India has expanded its domestic route network to four new domestic destinations -

Tata Communications to expand media & entertainment services: Details here

Amur Lakshminarayanan, managing director and chief executive of Tata Communications, stated that the company will continue investing in building its portfolio to keep the growth momentum

IHCL opens resort in Sikkim; to set 11 hotels in NE, 3 under development

Tata group hospitality firm Indian Hotels Company Ltd (IHCL) on Monday announced that it has expanded its footprint in Sikkim with the opening of a resort in state capital Gangtok. The 69-key resort, spread over 14 acres of land, is a serene hide-out and is a blend of Sikkimese aesthetics and contemporary design, the company said in a statement. Sikkim Chief Minister Prem Singh Tamang attended the opening of the resort. "The launch of Taj Guras Kutir Resort & Spa in Gangtok demonstrates our commitment to the commercial and tourism potential of the region. After Pakyong, the presence in Gangtok strengthens our footprint in the state and offers a new travel circuit," IHCL MD and CEO Puneet Chhatwal said. Nestled in the alpine landscape of Sikkim, the resort is set amidst lush greenery and offers panoramic views of the Kanchenjunga, the statement said. With the addition of the new facility, IHCL will have 11 hotels with three under development in Northeast India. This includes three

JSW, Tata, Adani make a beeline to meet industrial green energy needs

The C&I sector accounts for approximately 40-45 per cent of total energy demand in India

Top headlines: Sitharaman says no licence raj, sees buoyancy in economy

Business Standard brings you the top headlines at this hour

Tatas zero in on Sanand for Rs 13,000 crore lithium ion cell plant

Sanand came into the limelight in 2008 when Tata decided to move its greenfield Nano plant there from Singur in West Bengal after facing opposition from chief minister Mamata Banerjee

Tata Group needs to find substantial growth, ward off Ambani's Reliance

Tata Consumer Products Ltd., the owner of the Tetley tea brand, was uncomfortable with Haldiram's $10 billion valuation

Tata Consumer 'narrows its universe'; identifies 5 core areas for launches

In the liquids category, the company plans to introduce new products in the water and ready-to-drink sectors

Tata's jewellery brand Titan in talks to debut rupee bond worth Rs 3,000 cr

The bond would be Titan's first in rupees, according to Bloomberg-compiled data