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Tata Group likely to takeover of iPhone maker plant Wistron

11Jan By AnkitaNo Comments

News

Tata Group likely to takeover of iPhone maker plant Wistron

Bengaluru, 11th Jan 2023- Tata Group succeeding with its bid to take over an iPhone assembly plant in Bengaluru, India. That would give a boost to the country’s ambitions to become an electronics manufacturing hub. The $128 billion Tata Group has been in talks for months with Apple Inc.’s Taiwanese supplier Wistron Corp. and is looking to seal the purchase of its assembly factory near Bangalore by the end of March. The salt-to-airline conglomerate has been expanding its presence in technology, and India’s government has taken steps to challenge China’s dominance in electronics. As per the discussions, Tata Group is likely to oversee the main manufacturing operation, with support from Wistron. It may be noted that neither Tata Group or Wistron Corp has given any public statements rega...

Tata Group to acquire 68 percent stake in BigBasket for $1.3 billion

16Feb By reutersNo Comments

ACQUISITION

Tata Group to acquire 68 percent stake in BigBasket for $1.3 billion

Mumbai, Feb 16th, 2021: India's Tata Group will buy a 68% stake in online grocery startup BigBasket for $1.3 billion (about Rs 9,500 cr), television channel ET Now said on Tuesday, citing sources. The salt-to-software conglomerate has been planning to launch a "super app" that will tie in all its consumer businesses, according to media reports, as it competes against Amazon.com Inc and Reliance Industries Ltd in India's booming e-commerce market. Bengaluru-based BigBasket competes with Walmart Inc-owned Flipkart and Amazon's "Fresh" service as more consumers stay indoors and choose to shop online during the COVID-19 pandemic. Tata's stake will translate into an enterprise value of 135 billion rupees for BigBasket, which is backed by Alibaba, ET Now said. BigBasket top managemen...

Walmart to Invest $25 bn in Tata Group’s ‘Super App’

29Sep By reutersNo Comments

BUSINESS

Walmart to Invest $25 bn in Tata Group’s ‘Super App’

Walmart Inc is in talks with Tata Group for a potential investment of up to $25 billion in the Indian salt-to-software conglomerate's new "super app", the Mint newspaper reported on Tuesday, citing people familiar with the matter. According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. The news comes as Reliance Industries Ltd, controlled by Asia's richest man Mukesh Ambani, raised over $20 billion from investors including Facebook, Alphabet's Google, KKR & Co, and Silver Lake Partners by selling stakes in its digital business Jio Platforms. The Walmart investment could ...

Ratan Tata acquire 50 percent stake in Pharma startup Generic Aadhaar

8May By AnkitaNo Comments

ACQUISITION

Ratan Tata acquire 50 percent stake in Pharma startup Generic Aadhaar

Mumbai, May 8, 2020: Tata group chairman Ratan Tata invested an undisclosed amount in a 17-year-old kid's pharma start-up Generic Aadhaar. Generic Aadhaar was founded by the Thane kid, Arjun Deshpande, in April 2019, when he was 16. It supplies quality generic drugs from reputed manufacturers at up to 80 percent lesser cost and other medicines 20-30 percent cheaper. The boy, an alumni of DAV Public School, Thane, began his entrepreneurial journey with the aim of bringing affordable medicines to the poor, a statement issued by his PR agency said on Thursday. Tata invests in his personal capacity and did not disclose how much he invested. The chairman emeritus of Tata Sons has so far invested in over a dozen start-ups since he retired from the group in December 2012 and all his i...

My Intuition decides in Which Startup I have to Invest: Ratan Tata

17Oct By AdityaNo Comments

Entrepreneurs Talk

My Intuition decides in Which Startup I have to Invest: Ratan Tata

Tata Group patriarch Ratan Tata, who has invested in over a dozen startups since he hanged up his boots from the Bombay House, becoming an investor in upcoming new-age companies has been "an accident." The chairman emeritus of the $110-billion salt to software Tata Group, arguably one of the most successful investors of all-time, was an early backer of Ola, and Paytm since 2015 when he made these investments in a personal capacity. He also has a small stake in One97 Communications that owns Paytm, and took on the role of an advisor to the firm. He made his maiden eCommerce investment in Snapdeal. Tata's other top investments in the startup space include fitness startup CureFit; weather forecaster ClimaCell; auto portal CarDekho; online furniture mart UrbanLadder; etailer of eyewe...

This Company close to become India’s first $100 bn Market Cap Company

7Jan By PriyankaNo Comments

News

This Company close to become India’s first $100 bn Market Cap Company

Shares of Tata Consultancy Services (TCS) jumped 6.5 per cent last week after the company reported a 4.4 per cent rise in March quarter net profit and guided towards a better show in fiscal 2019. This has taken its market capitalisation (m-cap) to over Rs 6.50 lakh crore or around $98 billion.With this, the IT major emerges as the first Indian company with a market capitalisation of close to $100 billion. The stock, after making a positive opening, further soared 6.55 per cent to hit its 52-week high of Rs 3,399.90 on BSE. On NSE, shares of the company surged 6.54 per cent to its one-year high of Rs 3,399.90. The company's quarterly results were announced post market hours yesterday. The stock was the biggest gainer on both key indices, Sensex and Nifty. The firm's market valua...

Tata Starbucks Appoints Navin Gurnaney as the New CEO

3Oct By Gauri SinghNo Comments

News

Tata Starbucks Appoints Navin Gurnaney as the New CEO

Tata Starbucks, a joint venture between Tata Group and Starbucks has appointed Navin Gurnaney as its chief executive officer effective January 1, 2019. The new CEO will be replacing Sumitro Ghosh who will return to the US parent company after a three-year stint. The company stated that Gurnaney will be responsible for driving Tata Starbucks overall strategic direction and vision in India. Also, it will help in strengthening Starbucks business growth. “We are pleased to welcome Navin Gurnaney, who has a proven track record of success within Starbucks and is a business leader with the ability to bring people together, as Tata Starbucks continues to innovate and position itself for long-term growth in the India market,” said John Culver, group president, International, Channel Developme...

11Jul By Gauri SinghNo Comments

Market

After Tata Group, HDFC Crosses Market Cap of Rs 10 Trillion

HDFC (Housing Development Finance Corporation), which is led by Deepak Parekh has crossed the milestone of market capitalization amounting to Rs 10 trillion. This has marked the company as the second Indian business house after the Tata group to achieve this milestone. This news comes a few days after Deepak Parekh announced his views regarding the succession plan. The company at present has four listed ventures, that are Housing Finance Development Corp. Ltd, HDFC Bank Ltd, life insurance firm HDFC Standard Life Ltd and Gruh Finance Ltd. Whereas, the Tata Group has moreover 30 firms listed on the stock exchange. At the close of trade, the HDFC’s market valuation was at Rs 5,59,633.53 crore, HDFC Ltd was Rs 3,26,776.81 crore, HDFC Standard Life Insurance Company at Rs 95,936.72 crore...

Tata Group Offers ESOP’s for Employees Breaking 150 Yr Old History

26May By Lavina TolaniNo Comments

News

Tata Group Offers ESOP’s for Employees Breaking 150 Yr Old History

Tata Group, India's Biggest Commercial Vehicle Manufacturer has announced to offer employee stock option for the first time in 150 years to its top 200 executives while the company is set to enter its next round of turnaround strategy. This move will mark first of its kind initiative done in an Indian automotive space by a $100 billion company. Three criteria shall be used to assign stock options which shall be based on performance metrics as informed by the company official: Gain in market share EBIT margin improvement Free cash flow as a percentage of revenue B Balaji, Tata Motors CFO said while addressing the conference, This is to ring-fence critical talent during the turnaround phase and to match employee payoffs to the long-term gestation period of key i...

Titan Sets 50000 Crore Gross Revenue Target

14Apr By Sheldan RungasamyNo Comments

BUSINESS

Titan Sets 50000 Crore Gross Revenue Target

Titan, Tata Group’s daughter company announced that it is targeting a gross revenue of Rs 50,000 crore by FY 22-23 and is forecasting its jewelry business to keep driving the sales of the company. “Titan now aspires to touch 50 million customers across all its businesses and achieve the UCP (Uniform Consumer Price) revenue of Rs 50,000 crore by 2022-23,” Titan Company Ltd released in a BSE filing. Therefore, the jewelry business will remain the major driver of revenues of the company. The target revenue is Rs 40,000 crore that will allow Titan to own about 10% of the jewelry market share. UCP is a synonym for Maximum Retail Price (MRP) of the products for sale. UCP revenues refer to the sum total of the MRP from all the items sold by the firm and includes discounts, channel and fr...

13Mar By NitishNo Comments

Market

Tata Selling TCS Shares, Shares Down 6%

After the news of Tata selling some part of Tata Consultancy Services (TCS) shares, the market has not responded positively. The shares of TCS has fallen nearly 6% at the end of today. As per the following reports that Tata Sons is planning to raise around Rs 8,200 crore by selling a stake in the IT major. The stock declined 5.46 per cent to Rs 2,885.20 on BSE. The promoter of major operating companies of the Tata group, Tata Sons is planning to raise around Rs 8,200 crore by selling the stake in IT major TCS, according to investment banking sources. The funding will use to clear out the debts on Tata group. ALSO READ: TCS will not Leave Lucknow- Tata Group Chief The stock was the worst hit among the bluechips on both Sensex and Nifty during the morning trade. The tr...

7Nov By RishabhNo Comments

FUNDING

IoT Startup CoveIoT Raises Funding From Titan

Titan Company Ltd, an Indian luxury goods company; a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation, has recently invested in a wearable IoT startup CoveIoT as per the reports by a financial daily. The amount that has been invested is expected to be between $3-5 million, marking the first such investment by the giant in IoT space. The development will be used to develop the product and its R&D, analytics etc. Also Recommended New Samsung Ad Is Something iPhone Users Cannot Tolerate Twitter Says Trump’s Account Deactivated By Employee Leaving Company COVE is a registered brand of KaHa Pte Ltd, and is an end to end SMART IoT wearables platform that is a single window to brands to launch range of sma...