Tag: tatagroup

Shares of Tata Group companies, on Friday, rallied up to 6 per cent in intra-day trade on the BSE after the Supreme Court announced its verdict in favour of the Tata Group in the high-profile Tata vs Cyrus Mistry. Indian Hotels was the biggest gainer, rising 5.75 per cent, followed by Tata Steel, Tinplate, Tata Steel BSL, Tata Motors, Tata Power, Nelco, Tata Communication, Tata Coffee, Titan and Tata Chemicals NSE 1.79 % that gained 3-6 per cent. The Supreme Court's verdict in the nearly five-year-old case puts an end to the corporate war between Tata Group and the Mistrys. A bench headed by Chief Justice SA Bobde also dismissed the appeals moved by the SP Group and Cyrus Investments. Read more

Walmart is in talks with Tata Group for a potential investment of up to $25 billion in a proposed super app. As per discussions reported 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 super app, which is scheduled to be launched in India in December or January, will bring together Tata's consumer business under one channel offering a wide range of products in the retail space, Mint said. Tata's consumer businesses include watch and jewellery brand Titan and fashion retail chain, Trent. Read more