Mumbai-based brokerage HDFC Securities has reiterated a SELL rating on retail giant Trent Ltd with a target price of Rs 1,370 — 33% below the current price — even as it acknowledged the company’s strong growth in recent years. Trent has been one of the most exciting retail growth stories in India, growing at a […]
ONGC, India’s largest producer of oil and gas, has appointed satellite services provider Nelco to upgrade its in-house Ku band satellite communication system to enable high-speed data and voice services for its sites off India’s western shoreline. The move will improve connectivity between ONGC’s offshore platforms, drilling rigs, vessels and onshore locations and improve the […]
Tata Consumer Products Ltd said it has decided to divest its MAP Out of Home coffee business in Australia to Buccheri Group Pty Ltd to focus on more profitable lines of businesses. It will not affect its branded tea business in Australia. The company, which supplies both coffee beans as well as machines to coffee […]
As Vodafone Idea unveils a new brand identity, the financial troubles facing the company has as thrown into question the very future of the Indian telecom operator. There has been speculation that American telco Verizon or online retail giant Amazon may infuse money into the operator, but such rumors have been quashed by the Indian […]
Turkish durables player Arçelik and Tata Group’s Voltas have started operations at their first production facility in India at Sanand in Gujarat. The facility will be operated by Voltbek Home Appliances Pvt Ltd, the 50:50 joint venture between the two groups, and will gradually be scaled up to 2.5 million units of annual production by […]
A day after Tata Sons filed a plea in the Supreme Court against a decision by a statutory body restoring Cyrus Mistry as its chairman, subsidiary Tata Consultancy Services also filed an appeal seeking a stay on the reinstatement of Mistry as a director on the information technology company’s board. Tata Sons is the main […]
Tata Global Beverages Ltd, a subsidiary of the multinational conglomerate Tata Group, said it entered into a non-binding agreement to acquire the branded tea business of the Kolkata-based Dhunseri Tea and Industries Ltd for Rs 101 crore. A non binding contract is an agreement in which the parties are not legally obligated to carry out […]
Air travelers in India will soon be able to enjoy Internet like they do on the ground, after Tatanet Services, a wholly owned subsidiary of NELCO Limited, won an in-flight, maritime connectivity licence from Department of Telecommunications. “The IFMC license will make it possible to have uninterrupted access to voice, data and video services while […]
Voltas, India’s largest air-conditioner maker, said it will invest Rs 500 cr to set up a AC and appliance manufacturing complex in Tirupati. The plant will initially manufacture and assemble air conditioners and related cooling products, starting from the second half of next year. It will have a total capacity of more than 1 million […]
Tata Consultancy Services, the country’s largest private sector employer, said it plans to make some changes to its methodology used to hire fresh graduates from campuses from this year. Speaking to BTVI, HR head Ajoyendra Mukherjee said campus hiring for the next financial year (2019-20) will start in August or September. “More and more, even […]
Air conditioning company Voltas said Voltbek, its joint venture with Turkey’s Ardutch, will set up its first factory to produce refrigerators and washing machines in Sanand in Gujarat. The two companies had announced a joint venture agreement a year ago. “Voltbek has today laid ground to start construction of their first manufacturing facility, spread over […]
Bharti Airtel Limited, India’s largest telecommunications services provider and Tata, India’s leading conglomerate, today announced that they have entered into an understanding to merge Consumer Mobile Businesses (CMB) of TTSL and TTML into Bharti Airtel. The move is likely to give Airtel access to sub-GHz spectrum for expanding its 4G network, while preventing Tata Teleservices […]
Tata Teleservices Maharashtra, the listed unit of TTSL, said it had not taken any “firm decision” on how to go forward, reacting to a news article in the Business Standard that said the company will shut down this month. Reacting to media reports, the company said it “continues to explore all options in respect of […]
Thomas Cook, the travel services company, said it had purchased the forex business of Tata Capital, Tata Capital Forex, in its entirety. “We would like to inform you that the Board of Directors of the Company at their Meeting held on 25th September, 2017, approved the acquisition and signing of a definitive agreement with TATA […]
Tata Consultancy Services said it made two appointments in the wake of the departure of Chief Executive officer N Chandrasekaran: N. Ganapathy Subramaniam, elder brother of outgoing CEO Chandrasekaran, has been appointed as the chief operating officer, and former chief financial officer Rajesh Gopinathan has been elevated to the position of CEO. Former CEO Chandrasekaran has […]
Tata Steel Limited said that it has executed definitive agreements to acquire 100% equity shares of Brahmani River Pellets Limited (BRPL) from Aryan Mining and Trading Corpn Private Limited (AMTC) and other companies in the Moorgate Industries Group (MIG). The transaction is based on an enterprise value of Rs. 900 crores plus closing adjustments and […]
Keeping up his attacks on Tata Group interim chairman Ratan Tata, BJP leader Subramanian Swamy fired yet another salvo at the veteran industrialist for investing huge amounts of money into Britain, instead of doing so in India. Tata Steel had acquired UK-based Corus for around 6.2 billion pounds in 2008, making the company the fifth […]
Tata Motors said its global wholesales rose 16% in August to 86,288 compared to August last year. Wholesales of all passenger vehicles rose by 25% to 56,104. Land Rover wholesales for the month were at 29,222 vehicles. Jaguar wholesales for the month were 13,038 vehicles. Cumulative wholesales for the fiscal were 4,32,192 nos., higher by […]
Tata Motors’ Jaguar Land Rover (JLR) reported its best ever August retail sales of 36,926 vehicles, up 26% compared to August 2015, said the company. The month’s performance has been driven by strong sales of the Land Rover Discovery Sport, the Jaguar F-PACE and XE, JLR added. JLR sold 3,72,978 vehicles in the first eight […]
IT company Tata Consultancy Services (TCS) said it has deployed software to provide unemployment insurance by the Mississippi, Rhode Island and Maine Consortium to help unemployed individuals. Mississippi’s unemployment insurance program helps provides monetary benefits to those who have involuntarily lost their jobs while they look for new employment opportunities, the company added. The TCS developed unemployment insurance solution […]
