Tata Group
Tata Elxsi shares hit all-time high, up over 50% in 2022
Amid volatile trade, shares of IT major Tata Elxsi surged sharply on Monday to hit an all-time high. The sharp rise in share prices come amid reports that the MSCI may include the company in its standard index. The shares touched a high of Rs 9,160 during the day, and closed the session at Rs 9,010, up Rs0 6.8 per cent over the previous close.
Tata Sons Board renews Chandrasekaran's term as Executive Chairman
The decision took place during a board meeting held on Friday. Accordingly, the Board reviewed the last five years' performance of the group and considered the reappointment of Chandrasekaran. In a statement, Tata Sons said that Ratan N. Tata, who was a special invitee to this meeting, expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran.
Tata Power shares up 180% in one year; PLIs likely to sustain momentum
In early February 2021, the company's share price was Rs 90, and now it's over Rs 250, which is 183 per cent up. Tata Power is an integrated power company, present across the entire power value chain of conventional and renewable energy, power services and next-generation customer solutions including solar rooftop and EV charging stations.
Tata Teleservices withdraws option of conversion of interest into equity
As the interest amount eligible for conversion is much lesser than as expected and calculated by the company, the Board of Directors of the Company, in its meeting held on February 1, has decided to withdraw the desire. The DoT, in response, has informed the Company that the NPV of the interest which is eligible for conversion into equity is only Rs 195.22 crore as against the company's calculation of Rs 850 crore.
Equities cheer Budget; Tata Steel, L&T among top gainers
Sensex settled at 58,862 points, up 1.5 per cent, whereas Nifty settled at 17,576 points, up 1.4 per cent. To sustain high growth rate, the Centre has earmarked a massive budgetary outlay of Rs 7.50 lakh crore for FY23. In her Budget speech to the Lok Sabha on Tuesday, Finance Minister Nirmala Sitharaman proposed to increase the capital budget outlay by over 35 per cent year-on-year.
Air India comes with over 140 aircraft but no real estate assets for Tata Sons
However, the transaction does not include non-core assets, including land and building, valued at Rs 14,718 crore, which are to be transferred to government of India's Air India Asset Holding Limited (AIAHL). Besides, Tatas will also not get the world-famous art collection of Air India. Nevertheless, the group will get Air India's 117 wide-body and narrow body aircraft apart from 24 aircraft of Air India Express.
With Air India on-board Tatas emerge as major aviation players; plans to pilot synergies between airlines
It now has over 200 aircraft and over 80 domestic and international destinations. Notably, the group has two full-service carriers -- Vistara and Air India -- along with two low-cost airlines -- Air India Express and AirAsia India -- and a ground and cargo handling company, AISATS. According to sources, it plans to pilot synergies between all its airlines to compete in various market segments.
Witnessing gradual recovery in CV segment demand says Tata Motors
In a conversation with IANS, Girish Wagh, Executive Director, Tata Motors, cited a gradual recovery in demand post the second wave. Accordingly, the recovery was triggered on the back of increase in economic activity, which along with a robust rural economy has driven the sales of CVs.
Tata Motors to raise passenger vehicle prices
According to the company, there will be an average increase of 0.9 per cent, depending on the variant and model. "At the same time, the company has also taken a reduction of up to Rs 10,000 on specific variants, in response to feedback from customers. "While the company is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike."
Tata Teleservices stocks hit 5% lower circuit for 2nd straight session
Post conversion of dues into equity, the Centre is expected to hold a 9.5 per cent stake in the company, it said in a regulatory filing on Tuesday. The conversion, however, will be subject to a mutual agreement on the terms and conditions, including the governance of the company post-conversion of the interest amount into equity shares, it added in the same filing.
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