Menu

tata group

Business men giving a handshake. Business concept

Tata May Acquire Bisleri In Rs 6,000-7,000 Cr Deal: Report

, , , , , ,

The chairman of Bisleri International, Ramesh Chauhan has no successor to take Bisleri to the next level, reported a media house. Reportedly, not a single minority stake will be held by him in the business. The Bisleri was started in Mumbai as an Italian Brand in 1965

The Tata Consumer Products (TCPL) may acquire Bisleri International for an estimated deal between Rs 6,000 to 7,000 crore.

The chairman of Bisleri International, Ramesh Chauhan has no successor to take Bisleri to the next level, reported a media house. Previously, he sold brands such as Thums Up, Gold Spot, and Limca to Coca-Cola.

Bisleri being the largest packaged water company of India, expectedly has a turnover of around Rs 2,500 crore with a profit of Rs 220 crore during FY23.

Reportedly, not a single minority stake will be held by Chauhan in the business. Shifting his focus, he would invest in environmental and charitable causes such as water harvesting and plastic recycling.

The Coca-Cola has bought the entire portfolio from Chauhan and his brother Prakash, in 1993, according to the media report. Along with brands like Thums Up and Limca, it included other brands too such as Citra, RimZim and Maaza. TCPL sells packaged mineral water under the brand name Himalayan and Tata Copper Plus.

The Bisleri was started in Mumbai as an Italian Brand in 1965. The company was acquired by Chauhans in 1969. Currently, it caters to around 122 operational plants and 4,500 distributors in India along with its neighbouring countries.

rY1fswc0_400x400-1

Hardeep Singh Guru Becomes New CFO Of Tata Digital

, , , , , , , ,

Hardeep Singh Guru was appointed in August succeeding Tata Sons veteran Suresh Kasturirangan. This is the second C-suite level change company made since July after its chief technology officer Sauvik Banerjee had left. He comes with more than a decade of working experience in various Tata Sons entities

The Tata Group’s internet business arm, Tata Digital appointed Hardeep Singh Guru as the new chief financial officer, as per the regulatory filings with the Ministry of Corporate Affairs. 

Guru was appointed in August succeeding Tata Sons veteran Suresh Kasturirangan. He served as CFO since Tata Digital’s inception from 2019. Kasturirangan, after retiring from Tata Consultancy Services (TCS) was asked to assume charge of Tata Digital’s finances during its early days. Guru has been serving for a long term as a CFO for Tata Digital. He may continue in an advisory role, according to officials.

This is the second C-suite level change company made since July after its chief technology officer Sauvik Banerjee had left. It just right after three months of the Tata Group’s super app Tata Neu launch. 

Guru comes with more than a decade of working experience in various Tata Sons entities. He has serves in Tata Sons chairman N Chandrasekaran’s office in Mumbai prior to joining Tata Digital’s finance team in January. Previously he also has served as CFO of Tata Power subsidiary Coastal Gujarat Power Ltd and as CFO of Cenergi, a Tata Power joint venture in South Africa. 

During his tenure, some big-ticket acquisitions also took place which included e-grocer BigBasket and online pharmacy 1mg. It took the company’s revenue past Rs 16,000 crore in FY22. 

Expectedly, Tata Industries may separate some of its significant start-up businesses, like Tata Cliq, Tata Cliq Luxury, Tata Cliq Palette and Tata Health, Tata Digital, in order to consolidate scalable ecommerce entities under one roof. This may surge company’s revenue further in the current financial year.

599H6Y3_400x400

Tata Trusts Inducts Cyrus’ Cousin Mehli Mistry On Board

, , , , , , , ,

He induction took place followed by Trust made announcement of the retirement of its first professional CEO Srinath Narasimhan, who was appointed in 2020. He is a citizen of United Kingdom and a confidant of Ratan Tata. Late Cyrus Mistry and Mehli’s mothers are sisters

Mehli Mistry named as a director of Meherji Pallonji group on board of Dorabji Tata Trust and Ratan Tata Trust. Such move is considered a part of its ongoing corporate governance strengthening exercise and succession planning.

He induction took place followed by Trust made announcement of the retirement of its first professional CEO Srinath Narasimhan, who was appointed in 2020. The position CEO is still vacant and the search is on. Also, both internal and external candidates are being looked at, according to an official.

Recently, many speculations had come out on the possible inclusion of Mehli Mistry. He is a citizen of United Kingdom and a confidant of Ratan Tata. Late Cyrus Mistry and Mehli’s mothers are sisters, however the cousins were not close.

With interests varying from paint distribution to logistics, travel, automotive dealership, Mehli Mistry runs about a dozen companies.

The first change, as a part of its recent corporate governance exercise, was implemented when Tata Trusts chairman was barred from being the Tata Sons’ chairman. Due to the trust deed requiring amendment, the articles of association was first amended for Tata Sons.

At around 66 per cent of the equity capital of Tata Sons being the group holding company, belongs to the philanthropic trusts endowed by members of the Tata family. The biggest of these are the Dorabji Tata Trust and the Ratan Tata Trust.

Tata Trusts is headed by chairman emeritus of Tata Sons, Ratan Tata who had been seeking legal advice to make sure that the interests of both institutions, the Tata Trusts and Tata Sons, are protected. He was the last person to be chairman of both Tata Sons and the Tata Trusts succeeding JRD Tata.

SRDhuiwC_400x400

Saurabh Agrawal Takes Charge As Tata Power Renewable Energy’s Chairman

, , , , , ,

He previously served as the director of Tata Sons. The induction of three more directors, being Eduard Ruijs, Anjali Bansal and Rajiv Mehrishi, took place. The restructuring of board happened within months, after Tata Power made announcement of investing Rs 75,000 crore in renewable energy for next five years

The Tata group restructuring the board of Tata Power Renewable Energy, made Saurabh Agrawal the chairman of the board on 20 October. He previously served as the director of Tata Sons.

The induction of three more directors, including Eduard Ruijs, the Managing Director and Head of the London-based BlackRock Global Infrastr­ucture Fund team, was given effect. The other two being Anjali Bansal, Founder of Avaana Capital, and former Indian Admi­nistrative Service officer Rajiv Mehrishi, were inducted on the board.

The restructuring of board happened within months, after Tata Power made announcement of investing Rs 75,000 crore in renewable energy for next five years. Such investment is made on the lines of Reliance Industries, which is nearly investing Rs 77,000 crore in the next three years.

This year in April, Tata Power Company and BlackRock Real Assets-led consortium, including Mubadala Investment Company, entered into a binding agreement to invest in the renewable energy subsidiary.

Along with Mubadala, BlackRock Real Assets invested Rs 4,000 crore through equity/compulsorily convertible instruments to have 10.53 per cent stake in Tata Power Renewables. The base equity valuation of which turned out to be Rs 34,000 crore.

hUMj2NXJ_400x400

Air India In Talks With Aircraft Manufacturers To Buy Planes: CFO, Air India

, , , , , , ,

After Tatas acquired Air India in January this year, to reviving the loss-making airline, they unveiled a comprehensive transformation plan. Majorly the plan focuses on five factors being industry leadership, robust operations, commercial efficiency, industry best-talent and exceptional customer experience

Air India Chief Financial Officer Vinod Hejmadi said that Air India is in discussions with aircraft manufacturers for acquiring planes on 14 October. Tata group-owned airline is planning expansion of its fleet by three times as compared to the current size.

He also said that currently the airline is going through the “taxiing phase” and it requires years two years to take off, consolidate and enter the growth mode. 

After Tatas acquired Air India in January this year, to reviving the loss-making airline, they unveiled a comprehensive transformation plan. Majorly the plan focuses on five factors being industry leadership, robust operations, commercial efficiency, industry best-talent and exceptional customer experience. 

Previously he At the Aviation Insurance Symposium 2022 hosted by Global Insurance Brokers Pvt Ltd he said that it was a matter of survival for the airline however, now it looks towards a growth trajectory after Tata group the acquired the airline. 

Further he said, the airline is investing heavily in technology, digitisation and manpower and it will be inducting five wide-body Boeing and 25 Airbus narrow-body planes in coming 15 months. The aircraft being leased are 21 Airbus A320 neos, four Airbus A321 neos and five Boeing B777-200LRs, as per a 15 September release issued by the airline. 

Air India’s narrow-body fleet stands at 70 aircraft and out of them, 54 are in service whereas the remaining 16 aircraft will progressively return to service by early 2023. The wide-body fleet stands at 43 aircraft, of which 33 are operational. The rest will return to service by early 2023, as per the release. 

Tata group has initiated an exercise to evaluate options to consolidate AirAsia India and Vistara under Air India to bring operational synergies. At present, Tata group holds 51 per cent stake in Vistara and is now owns Air India and Air India Express. The group also has 83.67 per cent shareholding in domestic carrier AirAsia India. 

Singapore Airlines on 13 October said that it was in “confidential discussions” with Tata group to explore possible merger of Vistara and Air India. At the same time, Hejmadi on 14 October said Air India welcomes competition as this will ensure that everyone is on their toes.

tata

Tata Motors Witness 44% Hike In Total Domestic Sales In September

, , , ,

It witnessed an increase of 9 per cent to 32,979 units last month in commercial vehicle dispatches at the domestic market.

Tata Motors total domestic sales increased by 44 per cent to 80,633 units in September, the company reported on 1 October.

A total of 55,988 units were dispatched to its dealers in September 2021, informed the Mumbai-based automaker.

Reportedly, the company witnessed 85 per cent increase in its total domestic passenger vehicle dispatches at 47,654 units in September in comparison to 25,730 units in the September last year

“The company attained its highest ever monthly sales of 47,654 units last month driven by record sales of Punch and Nexon,” said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles.

“With the recent launch of the Tiago EV, the company has unveiled new vistas and is assured to drive the mass adoption of EVs across the country. Further, we expect the festive season will witness strong retail on the back of improving the supply of vehicles,” he added.

The company said it witnessed an increase of 9 per cent to 32,979 units last month in commercial vehicle dispatches at the domestic market where as it stayed at 30,258 units in September last year.

tata

Tata Group To Cut The Number Of Listed Companies

, , ,

There are currently 29 listed and 60 unlisted companies of Tata Group in the market

The country’s leading IT company Tata Group can reduce the number of its listed companies. In the coming days, the company may reduce the number of listed companies from 29 to 15. As per some media reports, the company has made many plans regarding this at present, but no official statement has been issued by the Tata group regarding this matter yet.

The revenue of the Tata Group is currently around USD 128 billion. At the same time, the company’s market cap has been USD 255 billion. According to media reports, the company is currently working to coordinate the group. There are currently 29 listed companies of Tata Group in the market. If said about unlisted companies, then there are around 60 companies which have not been listed yet. At the same time, close to 100 subsidiary companies are also involved, which are working closely with the group.

Under the ongoing administrator N Chandrasekaran, the organisation has been doing whatever it may take to combine its business to work on its effectiveness.

tata

Multibagger Tata Stock Reaches Lifetime High For Sixth Straight Day

, , ,

Automotive Stampings and Assemblies Ltd shares, on the other hand, are an exception. This multibagger auto stock has returned more than 800% in the previous year, delivering significant alpha return

The bulk of the shares of the Tata group have provided fantastic returns to its owners throughout this time period, despite the fact that the key benchmark indexes BSE Sensex and Nifty 50 have provided modest returns to stock market investors. 

In fact, a few of them have recently offered multibagger returns to their positioned shareholders. One of Dalal Street’s multibagger stocks during the last year is the stock of Indian Hotels Company. This multibagger hospitality stock has returned 115% over the past year, but the narrative doesn’t end there.

For the previous six sessions, this Tata group hospitality stock has been hitting all-time highs. The Indian Hotels share price rose today, reaching a new all-time high of 307.20 per share on the NSE. In the previous six sessions, this Tata group stock has increased from roughly 273 to 307 per share, giving a 12 percent return to its stockholders. 

Meanwhile, Automotive Stampings, TTML, and Indian Hotel are three Tata stocks that have at least quadrupled their owners’ money in the recent year. Automotive Stampings and Assemblies Ltd shares, on the other hand, are an exception. This multibagger auto stock has returned more than 800% in the previous year, delivering significant alpha return.

tata play logo

Preparations Begin For Tata Group’s IPO Of ‘Tata Play’

, , ,

Since 2004, no firm in the Tata group has gone public. That is, it has been 18 years since a Tata group firm went public.

Another firm of Tata Group, one of the major corporate organizations in the country, can now be listed on the stock market. Tata Group’s Tata Sky, which has now changed its name to Tata Play, is set to go public. By the end of the month, SEBI can get the draft documents for the IPO of Tata Play, the satellite television company owned by the Tata Group.

The rumors were out in the month of July that Tata Play’s (previously Tata Sky) initial public offering may happen shortly. In actuality, a lot of investment firms, including Disney, wish to liquidate their holding in Tata Sky. Investors Temasek and Tata Capital want to sell a portion of their ownership position in the firm during the projected IPO, which is a possibility.

As an 80:20 joint venture between Tata Sons and Network Digital Distribution Services (NDDS), Tata Sky began operating in 2004. NDDS is part of Rupert Murdoch’s 21st Century Fox. Disney purchased Fox in 2019; as a result, Tata Sky now has 41.49 percent ownership from Tata Sons and a 9.8 percent share from Disney through TS Investments Ltd.

However, since 2004, no firm in the Tata group has gone public. That is, it has been 18 years since a Tata group firm went public. The IPO of the country’s largest IT industry, Tata Consultancy Services (TCS), took place in 2004, approximately 18 years ago. TCS raised Rs 5500 crore through its initial public offering (IPO).

tata

Tata Digital Will Stitch All Assets: Mukesh Bansal

, , , , ,

The Tata group has consumer-facing brands like Titan, Tanishq, Westside, Zara, Chroma, Taj Hotels, Tata Sky and now commands a 35 market share with three airline brands, he said, adding that it also has digital brands like the 1MG business acquired recently and Tata Cliq

The diversified Tata Group touches every online shopper with existing consumer brands and the attempt of Tata Digital will be to bring together all the assets under a single value proposition, the new outfit’s president Mukesh Bansal said on Wednesday. The group — which will be competing for head on with Mukesh Ambani’s digital business, Amazon and the Walmart-owned Flipkart — will be making announcements on how it goes about the job in the coming months, Bansal said, speaking at the annual NTLF event.

The Tata group has consumer-facing brands like Titan, Tanishq, Westside, Zara, Chroma, Taj Hotels, Tata Sky and now commands a 35 market share with three airline brands, he said, adding that it also has digital brands like the 1MG business acquired recently and Tata Cliq.

“We have a lot of these assets and a huge number of consumers who overlap significantly with pretty much all the people who spend money online in the country. The group has a brand, relationship, and deep pedigree of expertise across a much broader spectrum of category and that is what gives us a right to play,” Bansal said.

“The whole endeavor of Tata Digital is how do we bring all these assets together and stitch a unified value proposition,” he added without elaborating.

Stating that the group will go public about how it is thinking about it, Bansal made it clear that this is going to be a long-term journey for the group.

Bansal, who was the co-founder of Myntra, joined the group when it acquired his second company Cure. fit and was made the president of Tata Digital.

When asked about working in new-age digital startups versus working in over a century-old group, he said Tata Group has the unique position where people from both worlds come together and a culture which supports both.

On one side, there are executives who know how to operate at scale and the importance of profitable businesses, while on the other, there are those from the digital economy like himself.

“It’s a fairly open set up, the way the organization is set up and our culture is not that different than any large scale digital startup. (There is) a lot of autonomy, independence, freedom to experiment and fail,” he said.

Quizzed about the defining businesses for the next decade, Bansal said it will be dominated by a higher ingress of brands, transition to clean energy, additional focus on healthcare from the people in the background of the pandemic through opting for supplements and preventive solutions and continuous education. 

(PTI)

Load More