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Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s Reliance Industries and <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="153" meta.entityid="Tata Group">Tata Group</keyword> have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list. TIME listed Reliance in the 'Titans' category (one of the five categories under which the companies were divided, other being Leaders, Disrupters, Innovators, and Pioneers). Tata was listed in 'Titan's' category while Serum under 'Pioneers'. "Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate -- which has aligned its growth with Indian Prime Minister Narendra Modi's vision for a 'self-reliant' India -- is the country's most valuable company, with a market capitalisation of more than USD 200 billion," TIME said. Now led by Dhirubhai's son Mukesh, the Mumbai-based company has ventures in energy, retail, and telecommunications, among others, and has made its chairman Asia's richest man, it said. The publication went on to stated that in February, Reliance came out on top in a fiercely competitive race to dominate India's burgeoning streaming market by striking a USD 8.5 billion merger deal with Disney's India business. "The deal will bring together more than 100 television channels and give the combined group around a 31 per cent share of India's streaming market compared to rivals Netflix and Amazon Prime with 8 per cent each," according to analytics firm Comscore. Reliance has revolutionised several economic sectors in the world's most populous country by making world-class products and services available at affordable prices with multiple innovations. Under Mukesh Ambani, the firm's telecom arm Jio revolutionised India's digital landscape and drove digital inclusion on an unprecedented scale with the most affordable mobile data tariffs in the world. It set up the world's largest single location refining complex. Reliance Retail is ranked among the top 100 retailers globally and in FY24 it registered 1.06 billion footfalls across its 18,800+ stores (67 per cent of which are in small towns and villages). Reliance is investing USD 10 billion in building the most comprehensive ecosystem for new energy and new materials in India and has set an ambitious goal to reach net-zero carbon by 2035. TIME described Serum as the world's biggest vaccine maker, churning out billions of vaccines. The company makes 3.5 billion doses every year, including for measles, polio, and most recently, HPV. "Serum's CEO Adar Poonawalla says the company's success can largely be chalked up to its private ownership. Not being beholden to shareholders allows it to keep vaccine prices low (the R21 will cost USD 4 a shot)," the publication said. Tata Group, it said, was founded in 1868 and has a vast portfolio extending from steel, software, watches, subsea cables, and chemicals, to salt, grains, air-conditioners, fashion, and hotels. "But as rivals have aggressively courted new businesses, it struggled to keep up with stiff competition. In 2017, after over a century of family management, N Chandrasekaran took over as chairman despite having no personal ties to the family -- highly unusual when India's business landscape is ruled by family succession plans," TIME said. As chair, he has transformed the group by investing in tech manufacturing, AI, and semiconductor chips. In 2023, it became the first Indian company to assemble iPhones, and is building another plant, it said, adding that in September, Tata announced a partnership with Nvidia to develop an AI cloud in India. "And this year, it announced plans for the country's first major semiconductor manufacturing facility. The moves seem to be paying off: in February, Tata's combined market capitalisation reached a whopping USD 365 billion, more than the entire economy of India's neighbour and rival, Pakistan," it added. This is the fourth edition of annual TIME100 Most Influential Companies list, highlighting companies making an extraordinary impact around the world. To assemble the list, TIME solicited nominations across sectors, and polled its global network of contributors and correspondents, as well as outside experts. Then, TIME editors evaluated each on key factors, including impact, innovation, ambition, and success. The result is a diverse group of 100 businesses helping chart an essential path forward. SEE ALSO:<a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank">Lok Sabha Exit Poll 2024 – what are they, when will they be announced and all you need to know</a><a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank">Truecaller can now detect if the caller is using AI – How to use it to prevent AI call scams</a><a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank">India’s T20 World Cup team, matches and everything you need to know</a>

Reliance, Tata on TIME's list of world's most influential companies

New Delhi, A sharp plunge in the stock market made investors poorer by Rs 4.86 lakh crore on Tuesday, on a day when the <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword> benchmark Sensex tanked over 700 points. The Sensex tumbled 736.37 points or 1.01 per cent to finish at 72,012.05. During the day, the benchmark fell by 815.07 points or 1.12 per cent to 71,933.35. Amid weak leads from equities, the market capitalisation of BSE-listed firms fell by Rs 4,86,777.98 crore to Rs 3,73,92,545.45 crore. Following the BoJ's (Bank of Japan) decision to hike interest rates for the first time in 17 years, the Asian peers' mood turned sour, which pulled the Indian markets to continue its recent pessimism, said <keyword id="19969359" type="General" weightage="20" keywordseo="vinod-nair" source="keywords">Vinod Nair</keyword>, Head of Research at Geojit Financial Services. "The correction in the domestic market has also been triggered by concerns over premium valuations and the delay of rate cuts by the <keyword id="19951097" type="General" weightage="20" keywordseo="us-fed" source="keywords">US Fed</keyword> due to hotter-than-expected inflation, which is evident from the upward trend in the dollar index. Investors are exercising caution as they await the upcoming US Fed meeting, seeking indications on the potential timing of a reversal in the rate cycle," he added. From the Sensex basket, <keyword id="19950119" type="General" weightage="20" keywordseo="tata-consultancy-services" source="keywords">Tata Consultancy Services</keyword> fell by 4.03 per cent as its promoter <keyword id="19991117" type="General" weightage="20" keywordseo="tata-sons" source="keywords">Tata Sons</keyword> sold around 2.3 crore shares, or 0.65 per cent of equity stake, in the IT services major through block deals. IndusInd Bank, Wipro, Nestle, HCL Technologies, Infosys, Power Grid, ITC, Tech Mahindra, Tata Motors and UltraTech Cement were the other major laggards. Bajaj Finance, Kotak Mahindra Bank, HDFC Bank, <keyword id="19950210" type="General" weightage="20" keywordseo="bajaj-finserv" source="keywords">Bajaj Finserv</keyword>, Titan and Bharti Airtel were the gainers from the 30-share BSE Sensex pack. "Pessimism in the markets continued on the back of broad-based selling, as investors worried over expensive valuations in mid and smallcap stocks... Investors preferred to exit long positions ahead of the US FOMC (Federal Open Market Committee) meeting, which will put the spotlight back on the interest rate scenario going ahead," <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, Senior VP (Research) at Mehta Equities Ltd, said. In the broader market, the BSE midcap gauge declined 1.36 per cent and the smallcap index fell by 1.04 per cent. "Investors remained on edge as key central banks globally are scheduled for a meeting. We expect the market to remain in consolidation mode as cautiousness persists with the commencement of the US Fed meeting today," <keyword id="20063732" type="General" weightage="20" keywordseo="siddhartha-khemka" source="keywords">Siddhartha Khemka</keyword>, Head - Retail Research at Motilal Oswal Financial Services Ltd, said. All indices ended lower. IT index dived 2.66 per cent, teck fell by 2.36 per cent, telecommunication (1.74 per cent), services (1.60 per cent) and utilities (1.57 per cent). A total of 2,583 stocks declined while 1,234 advanced and 111 remained unchanged on the BSE. Also, 364 stocks hit their lower circuit limit, while 235 firms reached their upper circuit level.

Dalal Street investors become poorer by ₹4.86 lakh cr as markets tumble

Markets during the last week saw wild gyrations with the first three days seeing a sharp dip followed by a more than equally sharper rise and then yet another dip, to be back on neutral ground. Friday was a nothing day and markets ended marginally up. The week ended with a small negative bias and in what could be termed a highly volatile week. BSESENSEX lost 30.54 points or 0.05 per cent to close at 58,803.33 points while <keyword id="6354813" type="General" weightage="50" keywordseo="nifty" source="Orion">NIFTY</keyword> lost 19.45 points or 0.11 per cent to close at 17,539.45 points. The broader markets saw BSE100, BSE200 and BSE500 gain 0.20 per cent, 0.29 per cent and 0.38 per cent respectively. BSEMIDCAP gained 1.37 per cent while BSESMALLCAP was up 1.35 per cent. The <keyword id="91748" type="General" weightage="50" keywordseo="indian-rupee" source="Orion">Indian Rupee</keyword> gained 6 paisa or 0.08 per cent to close at Rs 79.80 to the US Dollar. Dow Jones continued to remain under pressure and lost on four of the five trading sessions. It lost 964.96 points or 2.99 per cent to close at 31,318.44 points. It is now down 13.81 per cent on a year-to-date basis. On a similar comparison, the Indian benchmark indices are up about one percent. India is now the world's fifth largest economy. It squeezed out the United Kingdom. GST collections for the month of August were at 1,43,612 crore. This is the sixth consecutive month that the collection is at Rs 1.40 lakh crore or higher. The primary market sees the issue from <keyword id="7111922" type="General" weightage="50" keywordseo="tamilnad-mercantile-bank-limited" source="Orion">Tamilnad Mercantile Bank Limited</keyword> tapping the markets with its fresh issue of 1,58,40,000 equity shares in a price band of Rs 500-525. The issue would raise Rs 792- 831.6 crore at the price band. The issue opens on Monday the 5th of September and closes on Wednesday the 7th of September. On Friday, the company completed allocation to anchor investors of 71,28,000 shares at Rs 510. In the last couple of years, one doesn't recall that the anchor book or allocation has been made at a price lower than the top end. Coming to the bank's performance, it is a 100-year-old private bank dominant in the state of <keyword id="20154" type="General" weightage="80" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>. In terms of business as much as 75 per cent comes from the state of Tamil Nadu. The next chunk of business comes from the states of Maharashtra, <keyword id="37102" type="General" weightage="80" keywordseo="andhra-pradesh" source="Orion">Andhra Pradesh</keyword>, Karnataka and Gujarat which contribute about 16 per cent. The bank has grown very significantly during the Covid-19 pandemic. Its EPS has doubled from 2019-20 to 2021-22 from Rs 28.61 to Rs 42.34 and finally to Rs 57.67. It has a decent asset quality as well. Its gross NPAs were at 1.69 per cent while net NPAs were at 0.95 per cent for the year ended March 2022. The shares which are being offered at a price band of Rs 500-525 have a PE multiple of 8.67-9.10 times its FY 22 earnings. In terms of book value, the same is at Rs 374.41, which makes the issue at 1.4 times price to book. Looking at the allotment of anchors, it becomes clear that effectively the new price band is now Rs 500-510 and shares would be allotted at Rs 510. Readers may apply for the shares of the bank considering its fundamentals and pedigree, considering it's a 100-year-old bank. There may be limited upside on listing and investors should apply only for the medium term. Considering its peer group, the bank is adequately priced. There is a change introduced in the bidding process for IPOs with effect from 1st September. Bids made would have to be blocked by the end of the day before the final subscription figures are announced. This is in relation to the hue and cry that was raised where one saw thousands of applications not being banked post being bid. It was also noticed that issues which were subscribed at the end of the bidding time were actually undersubscribed post the final figures. This would put an end to bidding by investors who wanted to eat the cake and have it. Coming to the markets in the week ahead, we would see volatility continuing. While FPIs were buyers largely on most days in August, this is not the case in September and they were sellers as well. Things are not the best in US markets and the 75 basis points hike in the meeting to be held on September 20-21 is a foregone conclusion. What and how the markets react would be based on the commentary post the meeting outcome. Our markets would find strong resistance at the 17,750-800 levels and 59,450-59,550 levels. In case they do manage to break these levels for any reason, the previous tops made at 18,000 and 60,400 would be final resistances in the period coming up. Strong support exists at 17,350 and 58,200. If these break then the next level would be 17,000-17,050 and 57,250-57,350. The strategy for the week would be to continue selling on rallies and buying on sharp dips. Markets are in a trading zone and they need to make up their mind where they are headed in the medium term. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/former-tata-sons-chairman-cyrus-mistry-killed-in-a-road-accident/articleshow/93984352.cms">Former Tata Sons chairman Cyrus Mistry killed in a road accident</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/modi-and-industry-leaders-express-condolences-on-cyrus-mistrys-death/articleshow/93986009.cms">‘We shared a laugh last month on a park bench in London’, says former head of strategy at Tata Sons</a>

After a volatile week expect markets to remain rangebound says Arun Kejriwal

Tata Sons executive chairman <keyword id="97017" type="PERSON" weightage="20" keywordseo="N-Chandrasekaran">N Chandrasekaran</keyword> has purchased 1 lakh shares of <keyword id="6370462" type="DOMAIN" weightage="20" keywordseo="tata-communications">Tata Communications</keyword> from secondary market, according to a regulatory filing. "We have received an intimation from N Chandrasekaran , executive chairman, <keyword id="8928715" type="COMPANY" weightage="20" keywordseo="tata-sons-private-limited">Tata Sons Private Limited</keyword> regarding his purchase of 1,00,000 equity shares of <keyword id="628844" type="COMPANY" weightage="20" keywordseo="Tata-Communications-Limited">Tata Communications Limited</keyword> at an average price of Rs 249.15, excluding brokerage and STT, per share as on March 16, 2020," Tata <keyword id="6379089" type="UNKNOWN" weightage="20" keywordseo="communications">Communications</keyword> said in a BSE filing. Shares of Tata Communications closed at Rs 226 a unit, down by 7.92 per cent compared to previous close, at BSE on Wednesday.

Tata Sons chairman N Chandrasekaran buys 1 lakh shares in Tata Communications

<ul><li>The National Company Law Appellate Tribunal (NCLAT) ruled that Cryus Mistry’s removal as <keyword id="3932388" type="PERSON" weightage="20" keywordseo="Chairman-of-Tata-Sons">chairman of Tata Sons</keyword> was illegal.</li><li><keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> has four weeks to appeal the decision at Supreme Court.</li><li>The NCLAT order appears to even go beyond the specific reliefs sought by Mistry, the Tata Sons statement said</li></ul>The National Company Law Appellate Tribunal (NCLAT) ruled that <keyword id="6356895" type="ORGANIZATION" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword>’s <a href="https://www.businessinsider.in/business/corporates/news/cyrus-mistry-can-return-as-tata-sons-chairman-three-years-after-he-was-thrown-out-by-ratan-tata/articleshow/72868406.cms">removal as chairman from Tata Sons was illegal</a> and has directed the company to <a href="https://www.businessinsider.in/thelife/personalities/news/cyrus-mistry-net-worth-and-full-profile/articleshow/72870160.cms">hand him back his position</a>. However, the court has a left window of four weeks for Tata Sons to appeal at the Supreme Court. As it seems right now, the salt-to-software conglomerate, which also owns companies like the luxury car maker Jaguar Land Rover and the British tea brand Tetley is in no mood to give up. "It is not clear as to how the NCLAT Order seeks to over-rule the decisions taken by shareholders of Tata Sons and listed Tata operating companies at validly constituted shareholder meetings. The NCLAT order appears to even go beyond the specific reliefs sought by the Appellant," the company’s spokesperson told Business Insider. But Mistry sees this as a clear win. "Today's victory is not a personal victory for me, but is a victory for the principles of good governance and minority shareholder rights," he said a statement shared with the press. The Tata vs Mistry battle is far from over Within two months of his dismissal, Mistry’s family-run investment firms approached the NCLT. Mistry’s primary argument was that his removal as chairman of Tata Sons violated the Companies Act by forcing him to leave without ‘due process’ being followed and also accused the Board of ‘oppression and mismanagement’. While the lower court, the NCLT, had turned down Mistry’s appeal, today’s victory at the appellate tribunal gives Mistry a second chance to prove his charges against the Board and Ratan Tata. "The outcome of the appeal is a vindication of my stand taken when the board of Tata Sons, without warning or reason removed me, first as executive chairman, and subsequently as director of Tata Sons," he said. One of India’s biggest corporate disputes may be tested at the country’s highest court soon. 
	

	
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 See also: <a href="https://www.businessinsider.in/business/corporates/news/cyrus-mistry-can-return-as-tata-sons-chairman-three-years-after-he-was-thrown-out-by-ratan-tata/articleshow/72868406.cms">Cyrus Mistry can return as Tata Sons Chairman three years after he was thrown out by Ratan Tata</a> <a href="https://www.businessinsider.in/business/corporates/news/cyrus-mistry-still-has-to-prove-the-charges-against-ratan-tata-and-tata-sons-board/articleshow/72868673.cms">First Cut: The legal implications of Mistry's victory in the case against Tata Sons</a> <a href="https://www.businessinsider.in/thelife/personalities/news/cyrus-mistry-net-worth-and-full-profile/articleshow/72870160.cms">The volatile fortunes of low-profile Cyrus Mistry who was made the Chairman of Tata Sons only to be ousted soon after — now he’s fighting his way back</a>

Tata Sons says the court gave Cyrus Mistry more than he wanted

<ul><li><keyword id="6356895" type="ORGANIZATION" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword> has been reappointed as the <keyword id="3932388" type="PERSON" weightage="20" keywordseo="Chairman-of-Tata-Sons">chairman of Tata Sons</keyword> by the National Company Law Appellate Tribunal (NCLAT).</li><li>Mistry will return to the helm of the Tata conglomerate after a three-year-long battle in courts.</li><li>He was ousted in October 2016 being chairman for nearly four years.</li></ul>Cyrus Mistry will be back at the helm of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> in another four weeks-- if no other legal hurdles stop him. After over three years spent battling in courts, Mistry’s <a href="https://www.businessinsider.in/business/corporates/news/cyrus-mistry-can-return-as-tata-sons-chairman-three-years-after-he-was-thrown-out-by-ratan-tata/articleshow/72868406.cms">removal as chairman </a>was deemed illegal by the National Company Law Appellate Tribunal (NCLAT). As Mistry returns to power, the current executive chairman of the company — N Chandra — might have to look for a new job. Mistry served as Tata Sons chairman just shy of four years before the board removed him from the helm in October 2016. His net worth is currently at $10 billion. Here’s a quick look at Mistry’s journey from being the son of a construction tycoon to leading Tata Sons a second time:

The volatile fortunes of low-profile Cyrus Mistry who was made the Chairman of Tata Sons only to be ousted soon after — now he’s fighting his way back

Mumbai, <keyword id="30335" type="ORGANIZATION" weightage="20" keywordseo="Shares">Shares</keyword> of <keyword id="6370462" type="DOMAIN" weightage="20" keywordseo="tata-communications">Tata Communications</keyword> plunged over 6% on Wednesday after the government announced to sale its entire 26.12% stake in the company. At 12.10 p.m., its shares were trading at ₹1,060.65, lower by ₹69.30 or 6.13% from its previous close. In a notice Department of Investment and Public Asset Management (DIPAM) said that the <keyword id="6356303" type="COMPANY" weightage="20" keywordseo="Centre">Centre</keyword> intends to disinvest its entire shareholding of 26.12% of paid up equity capital in Tata Communications, erstwhile Videsh Sanchar Nigam Ltd (VSNL), through OFS by promoters through the stock exchanges and thereafter to the strategic partner as per <keyword id="35210" type="COMPANY" weightage="20" keywordseo="sebi">SEBI</keyword>'s norms. DIPAM has invited proposals from eligible merchant bankers to assist and advise the government in the process. VSNL, a central public sector enterprise was privatised in 2002 by disinvesting 25% shareholding along with transfer of management control to Panatone <keyword id="3777368" type="DOMAIN" weightage="20" keywordseo="finvest">Finvest</keyword> Limited, the strategic partner (SP). Subsequent to the strategic disinvestment, the name of the Company was changed to Tata Communications Limited (TCL). <keyword id="46894" type="COMPANY" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> holds 14.07% stake in the company. On Tuesday, Tata Communications reported a four-fold growth on a year-on-year basis in its consolidated net profit for the quarter-ended December at ₹309.4 crore. However, compared to the July-September quarter, its net profit was down 19.6%. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms?upcache=2">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a> <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphone-deals-and-discount-on-amazon-great-republic-day-sale/articleshow/80358909.cms">Best smartphone deals and offers on Amazon Great Republic Day Sale</a>

Tata Communications stocks plunge 6% as govt plans to off-load its stake

<ul><li><keyword id="148911" type="DOMAIN" weightage="20" keywordseo="Tata-Global-Beverages">Tata Global Beverages</keyword> has been renamed as Tata Consumer Products to spearhead FMCG ambitions of the $113 billion Tata group.</li><li>TCL would have iconic brands, including <keyword id="46021" type="COMPANY" weightage="20" keywordseo="Tata-tea">Tata Tea</keyword> and Tata Salt, reaching over 200 million households.</li><li>The move "marks a new strategic direction, an accelerated expansion into India's FMCG market", the company said. </li></ul> New Delhi, Feb 10 () Tata Global Beverages Ltd has been renamed as Tata Consumer Products Ltd to spearhead FMCG ambitions of the USD 113 billion Tata group. Two Tata group firms -- Tata Global Beverages Limited (TGBL) and <keyword id="130104" type="COMPANY" weightage="20" keywordseo="Tata-Chemicals-Limited">Tata Chemicals Limited</keyword> (TCL) on Monday announced that the scheme of arrangement between them regarding the Consumer Products Business of TCL is now "operational" effective from February 7, 2020. "Following this, TGBL has been renamed '<keyword id="8759775" type="COMPANY" weightage="20" keywordseo="tata-consumer-products-limited">Tata Consumer Products Limited</keyword>'," the statement said. Formation of Tata Consumer Products Limited (TCPL) "marks a new strategic direction, an accelerated expansion into India's FMCG market" said TGBL adding that it would "meet evolving consumer needs across the food and beverages spectrum". TCL would have iconic brands, including Tata Tea and Tata Salt, reaching over 200 million households. "This deep distribution architecture will also be supported by the Tata Group's brand building prowess. The company intends to further build on the strong platform provided by its market leading positions in tea and salt by investing in R&amp;D, branding, marketing, manufacturing and distribution to create a stronger and larger food and beverage platform," it added. Commenting on the development, Tata Sons Chairman <keyword id="97017" type="PERSON" weightage="20" keywordseo="N-Chandrasekaran">N Chandrasekaran</keyword> said: "The merger of the consumer businesses of <keyword id="6354310" type="DOMAIN" weightage="20" keywordseo="Tata-Chemicals">Tata Chemicals</keyword> and Tata Global Beverages Limited under Tata Consumer Products consolidates the group's presence in the fast-growing consumer sector." "Tata Consumer Products would be in a unique position to leverage the strong brand, wider product portfolio and distribution reach to serve the growing aspirations of consumers across the country," he added. As announced earlier in December last year, Sunil D'Souza will take over as MD and CEO of TCL with effect from April 4, 2020, after the retirement of Ajoy Misra.

Tatas to bring Starbucks, tea and salt under one roof - to create a mega FMCG company

New Delhi, May 5 () The CSIR's Institute of Genomics and Integrative Biology (IGIB) and Tata Sons have signed an agreement for licensing of the knowhow of a COVID-19 diagnostic kit which can be used for testing on ground by the month-end, a statement said on Tuesday. In another development, CSIR's Centre for Cellular and Molecular Biology (CCMB), Hyderabad has tied up with a Bengaluru-based company, Eyestem Research Private Limited, to grow novel coronavirus in human cell lines, which will enable in vitro testing of potential drugs and vaccines against COVID-19.The Council for Scientific and Industrial Research (CSIR), a premier organisation under the Ministry of Science and Technology, has 38 institutes and laboratories under it. Most of them are currently involved in developing aids linked to battling COVID-19.The IGIB has developed FNCAS9 Editor Linked Uniform Detection Assay (FELUDA) for low cost and rapid diagnosis of COVID-19."The licence shall include transfer of the knowledge for scaling up the knowhow in the form of a kit that can be deployed for COVID-19 testing on ground as early as end of May," the statement added. A completely indigenous scientific invention, FELUDA for COVID-19 has been designed for mitigating the ongoing COVID-19 situation and cater to mass testing. Its main advantages are its affordability, relative ease of use and non-dependency on expensive RT-PCR machines. Commenting on the agreement, Banmali Agrawala, President - Infrastructure and Defence &amp; Aerospace, Tata Sons said, "This innovative CRISPR 'Feluda' test uses cutting edge CRISPR technology for detection of genomic sequence of novel coronavirus. "It uses a test protocol that is simple to administer and easy to interpret enabling results to be made available to the medical fraternity in relatively lesser time, as compared to other test protocols. We believe that CRISPR is futuristic technology that can also be configured for detection of multiple other pathogens in the future." With regards to collaboration between CCMB and Eyestem, the research team will use the latter's human lung epithelial cell culture system provided as part of its Anti-COVID Screening (ACS) platform to understand the molecular and pathological characteristics of the novel coronavirus.This will help in establishing a rational basis for testing potential drugs in vitro, CCMB scientists said."Culturing the virus outside the human host is a technological challenge that needs to be overcome. Eyestem's cell culture system expresses the ACE2 receptor and other genes that are key determinants of viral entry and replication. "We hope that employing this system will allow the CCMB team led by Dr Krishnan Harshan to grow the virus predictably and thereby open up the potential for the drug screening and vaccine development strategies," said Dr. Rakesh Mishra, Director, CCMB. PR ZMN

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Reliance, Tata on TIME's list of world's most influential companies

PTI

Dalal Street investors become poorer by ₹4.86 lakh cr as markets tumble

PTI

After a volatile week expect markets to remain rangebound says Arun Kejriwal

IANS

Tata Sons chairman N Chandrasekaran buys 1 lakh shares in Tata Communications

PTI

Tata Sons says the court gave Cyrus Mistry more than he wanted

Prabhjote Gill

The volatile fortunes of low-profile Cyrus Mistry who was made the Chairman of Tata Sons only to be ousted soon after — now he’s fighting his way back

Prabhjote Gill

Tata Communications stocks plunge 6% as govt plans to off-load its stake

IANS

Tatas to bring Starbucks, tea and salt under one roof - to create a mega FMCG company

PTI

CSIR's IGIB, Tata Sons sign MoU for knowhow of COVID-19 diagnostic kit

PTI

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