Noel Tata has officially succeeded his half-brother, Ratan Tata, as chairman of Tata Trusts, marking a significant transition in the leadership of one of India’s most powerful business conglomerates. The 67-year-old Noel Tata now holds indirect control over the $165 billion Tata empire, which boasts globally recognized brands such as Jaguar Land Rover and Tata Consultancy Services. His appointment comes following the passing of Ratan Tata, one of India’s most respected corporate figures. Upon his appointment, Noel expressed his deep sense of honor and responsibility. “I look forward to carrying on the legacy of Mr. Ratan N. Tata and the…
Author: Krishna.Jangid
The grey market premium (GMP) for Hyundai Motor India has seen a significant decline in the days leading up to its initial public offering (IPO). The shares, which previously commanded a GMP of around ₹400 per share at the beginning of October, have now dropped to approximately ₹139 per share, reflecting a modest 7% premium over the issue price. Although the premium recently improved slightly to ₹170 per share, the 76% fall in GMP has raised concerns among investors as the company approaches one of India’s most anticipated IPOs. The IPO, scheduled to open next week, consists of a complete…
UAE authorities arrested Saurabh Chandrakar, the mastermind of the Mahadev Online Book Scam, on money laundering charges. The ED is tracing his repatriation. The scam, which involved laundering through the app’s operations, attracted the attention of multiple investigative agencies. UAE officials have arrested Saurabh Chandrakar, the alleged mastermind of the multi-crore Mahadev Online Book scam, on charges of money laundering. A formal extradition request is expected from the Enforcement Directorate soon. The investigating agency was informed about the arrest on Thursday, sources added further. The proceeds of crime (PoC) have been pegged at Rs 10,000 crore with the amount put…
The TATA Group’s revenue increased from $4 bn dollar to $100 bn dollar under Ratan Tata’s leadership from 1991 to 2012. Tata revamped the conglomerate making notable takeovers and entering new sectors, Through innovations, strategic investments, international expansions, and improved corporate governance. Over 60% of the revenue came from international operations after his retirement. Ratan Tata Transforms Tata Group into India’s First $100 Billion Giant Prominent Indian conglomerate The TATA Group has witnessed outstanding growth over the last few decades. Under Ratan Tata’s supervision, the company’s revenue boosted from $4 bn to $100 bn from 1991 to 2012 making it…
In a significant move aimed at improving the nutritional health of the nation, the Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a financial allocation of Rs 17,082 crore for the supply of fortified rice under various government schemes. The decision, announced by Union Minister Ashwini Vaishnaw, ensures funding for the initiative from July 2024 to December 2028 and will be entirely financed by the central government. This initiative is part of a broader strategy to promote inclusive development and enhance nutritional security across the country. With the pressing issue of malnutrition and micronutrient deficiencies among the Indian…
Tata Group’s retail arm, Trent, has made waves in the Indian market with its highly successful Zudio apparel stores, which target the value-conscious consumer. Buoyed by the success of its affordable clothing brand, Trent has now ventured into the beauty segment with Zudio Beauty, launching its first store in Bengaluru. The move is part of a strategic push into the mass-priced beauty market, a space that major players such as Reliance, Nykaa, and Shoppers Stop have traditionally overlooked, focusing instead on premium and luxury products. Executives close to the development report that Zudio’s triumph in the affordable clothing segment inspired…
Shares of Ola Electric Mobility plummeted 9.4% on Monday amid a heated public exchange between the company’s CEO, Bhavish Aggarwal, and comedian Kunal Kamra. The argument revolved around customer service issues regarding Ola’s electric scooters, and the fallout reflects larger concerns within the electric vehicle (EV) industry about customer satisfaction. Customer Complaints Spark Public Feud The altercation began when Kamra posted an image of an Ola dealership showing numerous scooters parked outside, apparently gathering dust. Kamra openly criticized the service provided by Ola, tagging Minister of Road Transport and Highways Nitin Gadkari, asking, “Is this how Indians will get to…
Oil prices remained subdued on Friday, with Brent crude futures holding steady at $77.55 per barrel and U.S. West Texas Intermediate (WTI) futures slightly unchanged at $73.65 per barrel. Investors are carefully monitoring two opposing forces in the global oil market: rising concerns over potential supply disruptions from the Middle East and the expectation of a well-supplied market. Both oil benchmarks are still on track for strong weekly gains of about 8%. Tensions in the Middle East Fuel Market Fears A key driver of oil price volatility has been the growing tension in the Middle East, where Israel and Iran…
In a dramatic downturn, the Indian stock market has seen Sensex fall by 4,100 points in just five days, erasing Rs 16 lakh crore from investors’ portfolios. Global factors, including the Iran-Israel conflict and China’s economic stimulus, have left the market in disarray. Foreign Institutional Investors (FIIs) have pulled out a staggering Rs 32,000 crore, and Nifty has sunk below key support levels, triggering a sharp correction. Market Bloodbath as Sensex Crashes Dalal Street faced a severe blow as the Sensex plunged 1,769 points in a single day before closing 809 points lower. Nifty also saw a dip, ending below…
Andhra Pradesh has announced a new liquor policy that will come into effect on October 12, 2024, signaling a shift towards privatized retail sales and increased government revenue. The state government expects to generate ₹5,500 crore annually from the new policy, which aims to regulate the liquor market while offering affordable options for low-income consumers. Private Retail Shops to Boost Market Stability Under the new policy, 3,736 private retail liquor shops will be established across Andhra Pradesh. This shift to privatization mirrors successful models seen in other states, such as Haryana, where private retailers have been able to stabilize the…
