The telecom giant has decided to instead focus on other acquisitions and takeover of Telenor India along with stake sale in Bharti Infratelclosing.
Tata hopes that it becomes one of the coveted world majors in near future
India’s salt to software conglomerate Tata Group is giving thought to reorganise its technology and infrastructure businesses in order to reduce the number of companies it manages.
The new facility will create 200 new engineering jobs and will serve England and Europe and is following growth in its business across the region, the company said in a statement issued from Warwick.
The suit, filed by shareholders Pramod Shah and five others, challenged Cyrus Mistry's removal as chairman of the Tata group, terming it "illegal, motivated and malafide".
"The court has summoned Mistry and others in the criminal defamation case filed by us, wherein we have demanded a compensation of Rs 500 crore," Parvez Memon, who appeared for Venkatramanan, said.
Amid the government exploring ways to revive the debt- laden airline, Tata group is believed to be interested in purchasing stake in the national carrier.
Under the deal, Lockheed will shift its Fort Worth, Texas plant to India without directly affecting American jobs, a campaign pledge of Trump who has vowed to put "America First".
Sources privy to the development told CNBC-TV18 that Tata Group's engineering and IT firm, Tata Tech has sold a minority stake pegged at around USD 800 million to the American private equity firm.
Prime Minister Narendra Modi has vowed to end India's role as the world's largest arms importer by asking foreign firms to share technology with local players and then manufacture in India - in return for a slice of the $250 billion analysts estimate New Delhi will spend on its military over the next decade.
The second most valued brand in India is mobile operator company Bharti Airtel with valuations of USD 7.7 billion. Life Insurance Corporation of India (LIC) ranks third with USD 6.8 billion.
Shares of RIL were trading 3.43 per cent higher at Rs 1,416.40 on BSE at 1236 hrs, giving the company a market capitalisation (m-cap) of Rs 4,60,291.20 crore -- the highest for any listed firm in the country. This was Rs 3,151.92 crore more than TCS' Rs 4,57,139.28 crore valuation at the time.
The Indian Hotels Company Ltd (IHCL) had on November 8 last year approached the Supreme Court against the Delhi High Court's order that had cleared the decks for auctioning of the iconic hotel in the heart of the national capital.
A bench comprising Justices P C Ghose and R F Nariman allowed the plea of New Delhi Municipal Council (NDMC) that the Tata Group firm cannot have the right to refusal in the auctioning of the hotel.
Tata Sons Chairman N Chandrasekaran said that gaps in products and delayed launches had contributed to criticism and the undoing of the passenger vehicles business.
The resolution letter says that the group chairman will be taking basic salary of Rs 20 lakhs a month and maximum of Rs 40 lakhs per month.
'Rexit' in June, old currencies out in November, a new telecom company debuted in August, monetary policy saw a sea change and so did the boardrooms at Tata Group. FY17 was a tectonic year in India's economic calendar and on this special episode we will be taking you through the key events that shaped the year that was.
The board also decided to raise Rs 7,000 crore by selling bonds. This amount will be used to refinance the company's debt, invest in securities and provide loans to companies.
If the deal looks favourable, Tata Coffee will be merged into Tata Global Beverages, sources told CNBC-TV18.
From the company's first passenger car in 1998 to the sports car under the company's new sub-brand TAMO, Tata Motors is marking its two decades of participation at the auto show with a leap of faith to future.
RBI remains opposed to the payout under the existing structure. RBI said the existing clause in the joint venture agreement was illegal, something which Tata Sons denies. RBI said a fixed rate of return for exit from the joint venture makes it illegal.
Tata Sons Chairman Emeritus Ratan Tata on Friday said the Tata Group is in the safe hands of N Chandrasekaran, who would take it to a new level of progress and growth.