TATA GROUP
Incidence rate entirely normal considering scale, size of Air India group's ops: CEO Campbell Wilson
Air India chief Campbell Wilson addressed recent aircraft incidents, stating their frequency is normal given the airline's scale. To improve customer satisfaction, Air India plans to empower cabin crew with e-vouchers for on-the-spot compensation for service deficiencies. The airline is also reintroducing familiar elements and focusing on transparency to build trust and enhance its brand values.
Closely monitoring situation, says Tata Group-owned Indian Hotels on malware incident
Indian Hotels Company Limited (IHCL), the largest hospitality company in India, has reported a malware incident affecting some of its IT systems. Immediate steps were taken to contain the impact and secure the systems, and relevant authorities have been notified. IHCL and its subsidiary, Benares Hotels, are closely monitoring the situation while maintaining normal business operations.
Singapore wants to invest in MRO facilities in Indian civil aviation: MEA
Singapore is eager to collaborate with India to enhance its civil aviation sector by developing maintenance, repair, and overhauling (MRO) capabilities. SIA Engineering eyes partnership with Tata Group, leveraging Singapore Airlines' investment in Air India. Both nations signed five MoUs, focusing on green shipping, space collaboration, digital innovation, and advanced manufacturing skilling, strengthening bilateral ties.
Trump questions Tim Cook's intent to invest 'elsewhere' as Apple deepens roots in India
Donald Trump questioned Tim Cook about Apple's expansion. This happened during a dinner with tech leaders. Cook assured Trump of Apple's US investment. Apple is also boosting iPhone production in India. The company plans to export more to the US. Apple is opening more retail stores in India. India is becoming a key market and manufacturing hub for Apple.
India missed the chip bus. Now it's playing catch up
India has started manufacturing semiconductor chips. Prime Minister Narendra Modi received the first made-in-India chip. This marks a significant step after years of missed opportunities. The government is investing heavily to boost domestic chip production. The goal is to reduce reliance on foreign suppliers. India aims to become a key player in the global semiconductor market.
Tata Capital sets stage for USD 2 bn IPO after global roadshows; valuation seen at $18 billion
Tata Capital is gearing up for its highly anticipated USD 2 billion IPO, slated to debut by September 30, potentially becoming the largest IPO of 2025. Following successful investor roadshows across global financial hubs, the company's valuation is expected to reach USD 18 billion.
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Change of Cart: Tata plans CEO change at BigBasket
BigBasket CEO Hari Menon has been charting a succession plan over the past few months, people in the know tell us. Going forward, he may take on a mentor role at the online grocer he cofounded, as his five-year tenure nears completion.
BigBasket founders plan to step back; CEO Hari Menon prepares succession amid Tata Group’s quick commerce push
BigBasket founders, including CEO Hari Menon, are preparing to transition into mentoring roles as Tata Group seeks a new leader to sharpen its competitive edge in the quick commerce market. With Menon's tenure nearing completion, the company is actively shortlisting candidates to drive growth and reassure investors amid increasing competition from Blinkit, Instamart and Zepto.
ETSA 2025 winners are here; Job cuts at MPL
The winners of the 11th edition of The Economic Times Startup Awards are here. This and more in today’s ETtech Top 5.
Pakistan’s richest business group is not a company but the Army’s Fauji Foundation, valued at $6 billion: Report
A recent report reveals Pakistan's army has amassed a vast business empire, controlling billions in assets across various sectors while the nation grapples with economic hardship. Military-linked entities dominate the country's top business rankings, benefiting from preferential treatment and tax exemptions. This concentration of wealth exacerbates inequality as ordinary Pakistanis struggle with poverty and unemployment.
Falling unlisted shares and a rights issue: What's fuelling Tata Capital’s IPO pricing concerns?
Tata Capital is set to launch a Rs 17,200 crore IPO by late September, marking one of India's largest financial sector listings. While unlisted shares have dropped 20% amid a recent rights issue at Rs 343, analysts say IPO pricing will hinge on broader NBFC valuations, not recent transactions. Strong financials and Tata branding continue to drive investor interest despite market corrections.
Chip mission 2.0 to prioritise silicon carbide wafer making
The push for SiC wafers comes as they operate at higher voltages, temperatures and frequencies, officials said. In semiconductor manufacturing, a wafer is a thin, circular slice of a crystalline semiconductor material, most commonly silicon, upon which integrated circuits are fabricated.
ET Startup Awards 2025 | Comeback Kid: Capillary Technologies weathers a raging storm
The jury’s focus was on the nominees’ persistence during their lows and execution impact during their highs. Bengaluru-based Capillary Technologies ultimately clinched the award, with the jury praising its tenacity and lauding the team for an impressive turnaround.
Tata Capital to launch $2 bn IPO in late September, eyes $11 bn valuation
Tata Capital is set to launch a $2 billion IPO in late September, targeting an $11 billion valuation. The IPO includes fresh equity and an offer for sale by Tata Sons and IFC, aiming to bolster the company's capital base.
Air India Indore-bound flight returns to Delhi after 'fire indication'
An Air India flight, AI2913, en route from Delhi to Indore, made an emergency return to Delhi shortly after takeoff on Sunday. The return was prompted by a fire indication in the aircraft's right engine, as reported by the cockpit crew.
Festive fireworks ahead for ecommerce firms with season sales to rise 27%
Indian e-commerce marketplaces and online retailers anticipate a record-breaking festive season, projecting sales of Rs 1.2 lakh crore, a 27% increase from last year. Quick commerce is set to account for over Rs 14,000 crore of this estimate. This resurgence comes on the back of consumer sentiment in urban India turning positive after three years of slower growth.
Festive sales hit as brands flag tighter consumer credit lines
Consumer finance availability is tightening due to rising loan defaults and stricter lending practices by banks and NBFCs, impacting sales of high-value items like electronics and luxury goods. Some regions face complete credit blocks due to new laws against coercive recovery, further hindering access to finance for genuine customers.
Indian aviation industry may post higher losses at Rs 9,500-10,500 crore this fiscal: ICRA report
ICRA forecasts a challenging fiscal year for the Indian aviation industry, projecting increased losses between Rs 9,500-10,500 crore due to geopolitical factors and trade headwinds. Passenger traffic growth is expected to slow to 4-6% in FY26, impacting profitability amidst rising aircraft deliveries. The industry faces pressures from flight disruptions, travel hesitancy, and potential dampening of business sentiments.
US tariff will not have much impact on domestic steel sector: Tata Steel CEO T V Narendran
Tata Steel CEO T V Narendran stated that the US tariff of 50% is unlikely to significantly affect the domestic steel sector, though its European operations might experience some impact due to existing tariffs. He acknowledged challenges but highlighted positive domestic growth and demand. The government is devising strategies, including GST reforms, to mitigate the tariff's effects.
Air India Express joins global airlines' association IATA
Air India Express has become a member of the International Air Transport Association. It is now the fourth Indian carrier to join the global airlines' association. IATA represents a significant portion of global air traffic. Air India Express operates many daily flights connecting domestic and international destinations. Other Indian members include Air India, IndiGo, and SpiceJet.
TCS inks mega 1.4 mn sq ft lease in Bengaluru’s Electronics City; deal valued at ₹2,130 crore
Tata Consultancy Services is expanding its Bengaluru presence. TCS has leased 1.4 million sq ft at 360 Business Park in Electronics City. The 15-year deal is valued at Rs 2,130 crore. This significant transaction highlights Bengaluru's strength as an IT hub. The lease will commence in two phases in 2026.
Not just groceries: Blinkit, Zepto & others turn festive bazaars on your phone
Quick commerce platforms in India, including BigBasket, Zepto, and Swiggy Instamart, experienced a surge in sales during Raksha Bandhan and other festivals. These platforms, initially focused on grocery delivery, are expanding into electronics, apparel, and home furnishings, driven by changing consumer shopping patterns.
The ET Startup Awards 2025: elite jury to pick winners on August 28
Happy Tuesday! The ETtech team has been neck-deep preparing for the past few months to bring you the 11th edition of The Economic Times Startup Awards (ETSA). Today, we are unveiling the elite jury and nominees for two more categories — Woman Ahead and Social Enterprise.
Exclusive: Former Google, Jio executive Sajith Sivanandan set to take charge as CEO of Tata Digital
Sivanandan, a former Google executive who led the tech giant’s payments and Next Billion Users initiatives in India and Asia-Pacific, will be mandated to sharpen the group’s play across ecommerce, quick commerce, and digital services, where it competes with entrenched players such as Amazon, Walmart-owned Flipkart, and Reliance.
Buy, Sell or Hold: Motilal Oswal initiates sell call on 2 Tata group stocks; sees over 30% upside in KPIT Tech
Motilal Oswal releases coverage on engineering service providers. It suggests a cautious approach to Tata Elxsi and Tata Technologies, citing margin concerns. Both are rated as sell. KPIT Technologies gets a buy rating, projecting a 33% upside. KPIT is expected to benefit from automotive software demand. Revenue and margin improvements are anticipated for KPIT Technologies.
AC maker Blue Star expects sales bump from PM Modi's planned GST cuts
Blue Star anticipates exceeding its room air conditioner sales forecast this financial year, driven by the Indian government's planned consumption tax cuts. Prime Minister Modi's initiative, aimed at stimulating demand amid trade tensions, could reduce taxes on appliances from October.
IHCL eyeing strategic acquisitions to expand presence in key markets, enter new destinations: MD Puneet Chhatwal
Indian Hotels Company Limited (IHCL) is strategically pursuing acquisitions to broaden its footprint in existing markets and venture into Europe and Southeast Asia. With a strong cash reserve and a zero-debt status, IHCL aims to expand its portfolio to over 700 hotels by 2030.
Foxconn’s recall of more Chinese staff tests Apple’s India push
Foxconn, Apple's assembly partner, has recalled approximately 300 Chinese engineers from its Indian factory due to potential restrictions on technology transfers from China. This move impacts Apple's efforts to rapidly expand and localize its supply chain in India, as the factory produces components for older iPhone models.
Tata Capital IPO likely next month but unlisted shares down 8% in 1 month
Tata Capital plans a $2 billion IPO before the RBI's deadline. The IPO includes new shares and shares from existing investors like Tata Sons and International Finance Corporation. This IPO could be one of India's largest financial listings. Tata Capital reported a significant increase in net profit for the June quarter. Several banks are managing the IPO.
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