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Tata Group chairman <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword> breathed his last on Wednesday (October 9) at Breach Candy Hospital in Mumbai. On Monday, the industrialist was admitted to the hospital for age-related issues. As soon as the news of his death broke, people started remembering the philanthropic businessman and social media is full of reactions. From actors to other business leaders, a lot of prominent figures reacted to Ratan Tata's demise. From <keyword id="6354583" type="General" weightage="20" keywordseo="salman-khan" source="Orion">Salman Khan</keyword> and <keyword id="1655" type="General" weightage="20" keywordseo="priyanka-chopra" source="Orion">Priyanka Chopra</keyword> Jonas to Ranveer Singh and <keyword id="6357860" type="General" weightage="20" keywordseo="anushka-sharma" source="Orion">Anushka Sharma</keyword>, Bollywood celebs also expressed their sorrow on social media. Let us take a look at some reactions. Superstar Salman Khan expressed his sorrow on X (formerly Twitter), writing, “Deeply saddened by the passing of Mr. Ratan Tata,” capturing the emotional weight of the moment. Ajay Devgn echoed the sentiment, describing Tata as a visionary whose impact transcended business: “The world mourns the loss of a visionary. Ratan Tata’s legacy will forever inspire generations. His contributions to India and beyond are immeasurable. We are deeply grateful. Rest in peace, Sir.” Anushka Sharma, sharing her thoughts on Instagram, lauded Tata for his integrity and grace: “Deeply saddened by the news of Shri Ratan Tataji. He upheld the values of integrity, grace, and dignity through everything he did and was truly an icon and Taj of India. RIP sir, you have touched so many lives.” Priyanka Chopra Jonas reflected on Tata’s kindness and leadership, noting, “Through your kindness, you touched the lives of millions. Your legacy of leadership and generosity will continue to inspire generations. Thank you for your unmatched passion and dedication to everything you did for our country.” Many others in the industry also shared their admiration for Tata. Sanjay Dutt called him a beacon of integrity, saying, “India has lost a true visionary today. He was a beacon of integrity and compassion whose contributions went beyond business, impacting countless lives.” Randeep Hooda hailed Tata as “India’s most valuable man,” saying that his worth was measured by his values rather than wealth. "India’s most valuable man, not necessarily for his vast wealth, but for his values.. largest being Integrity !! Never a show off but always the star ⭐️ The life #RatanTata ji led will always be an inspiration,"Hooda wrote in a post on X. Varun Dhawan, in a heartfelt Instagram post, shared a throwback picture of Tata, simply writing, “RIP sir RATAN TATA,” while Riteish Deshmukh took to X, stating, “Deeply saddened to know that Shri #RatanTata ji is no more. Condolences to the family and loved ones. Rest In Glory Sir.” Ranveer Singh paid tribute by sharing a monochrome photo of Tata with a simple infinity emoji, highlighting the eternal impact Tata will leave on the country. Actor R Madhavan also shared his admiration, writing, “A visionary, a gentleman of the highest order, an inspiration for generations, leaves behind a void that can never be filled.” <keyword id="19959949" type="General" weightage="20" keywordseo="sushmita-sen" source="keywords">Sushmita Sen</keyword> and Karan Johar both paid their respects, while Dharmendra expressed his regret at never having met Tata, calling him a “Humble King” who treated his workers like family. “Sir, you will always be remembered with great love and respect,” he added. Filmmaker Rohit Shetty called Ratan Tata a “real hero,” while music maestro AR Rahman offered a poignant reflection: “Some icons are living textbooks, teaching us about leadership, success, and legacy. Extraordinary yet human and approachable, they inspire and guide us. India has lost a true son and champion. Rest in peace, Ratan ji.” <keyword id="19895145" type="General" weightage="20" keywordseo="vicky-kaushal" source="keywords">Vicky Kaushal</keyword> also expressed his grief, writing, “Never could meet him… but adored, admired and respected everything he said and did for society. Lost a legend. May his soul rest in peace.” Other notable tributes came from stars like SS Rajamouli, Jr NTR, Prithviraj Sukumaran, and Rana Daggubati, who all shared their deep respect for Tata’s leadership and humanitarian work. Rajamouli, in particular, remarked, “Legends are born, and they live forever… Ratan Tata’s legacy is woven into everyday life.” The passing of Ratan Tata has left a profound void, but the legacy he has built in business, philanthropy, and ethics will continue to inspire and guide future generations.

'Humble king who looked after his workers like children': Bollywood reacts to Ratan Tata’s demise

<ul><li>Captains of India Inc came out in droves to express shock over <keyword id="6356895" type="General" weightage="100" keywordseo="Cyrus-Mistry" source="Orion">Cyrus Mistry</keyword>’s death. </li><li>Prime Minister Narendra Modi says Mistry was a business leader who believed in India’s economic prowess.</li><li>Cyrus Mistry was a warm, friendly, and congenial person who built a strong relationship with the TCS family, said a statement by the company. </li><li>Maharashtra Deputy Chief Minister Devendra Fadnavis asks police to conduct a detailed investigation into the road accident that killed Cyrus Mistry.</li></ul>From disbelief to grief, the sudden death of Cyrus Mistry, the former boss of <keyword id="46894" type="General" weightage="20" keywordseo="tata-sons" source="Orion">Tata Sons</keyword>, evoked many reactions from people from all walks of life. Many from corporate India took to social networking platform Twitter to express their shock, while many of his friends contacted by BI said they were in a state of shock and could not comment on the matter. Prime Minister Narendra Modi in his tweet said: “The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India’s economic prowess. His passing away is a big loss to the world of commerce and industry. Condolences to his family and friends. May his soul rest in peace.” On a journey back from Ahmedabad, local sources in Palghar, said that a Mercedes with four people in it hit a divider and killed two people in the car instantly. One of them was Cyrus Mistry. <cmsannotation type="cmsannotation" annotationid="Cyrus was a warm, friendly, and congenial person: TCS" comment="subhead" text="Cyrus was a warm, friendly, and congenial person: TCS">Cyrus was a warm, friendly, and congenial person: TCS</cmsannotation> “Tata Consultancy Services mourns the untimely demise of our former chairman, Shri Cyrus Mistry. He was a warm, friendly, and congenial person who built a strong relationship with the TCS family during his time as the Chairman of the company. We offer our deepest condolences and prayers to his family and friends in their time of loss,” said a statement by TCS. Finance MInister Nirmala Sitharaman said that his death had come as a shock. She said that he was committed to carrying forward and strengthening his business in infrastructure and infra projects. "He desired to keep contributing to India's economic progress. Condolences to his family and friends," the FM said on micro-blogging site Twitter. Mistry was the sixth chairman of the <keyword id="8555" type="General" weightage="20" keywordseo="tata" source="Orion">Tata</keyword> Sons board and only second from outside the Tata family. He was ousted in a boardroom coup in October 2016, following which he fought a bitter legal battle with Tata Sons. Mistry’s family holds 18.37% in Tata Sons. Even as the who’s who of the country expressed their shock and disbelief, Maharashtra’s Deputy Chief Minister Devendra Fadnavis asked the police to conduct a detailed investigation into the road accident that killed Cyrus Mistry. Congress leader Rahul Gandhi also took to Twitter and said: “Saddened by the tragic news of the sudden news of demise of former Chairman of Tata Sons, Cyrus Mistry. He was among the brightest business minds of the country, who made a significant contribution to India’s growth story.” Gandhi offered his condolences to Mistry’s friends, family and admirers. Despite his high profile legal battle with the Tata Sons board, Mistry had admirers undoubtedly. Harsh Goenka of the RPG Group also took to Twitter to say that he was shocked to hear of the news of his sudden demise. Calling him a friend, gentleman and a man of substance, Goenka said, “He was instrumental in creating the global construction giant Shapoorji Pallonji and ably led the Tata Group. Similarly, CP Gurnani of Tech Mahindra said that the industry had lost a “brilliant mind and a gentle soul”. Many others like Ashishkumar CHauhan of the National Stock Exchange and Road Transport Minister Nitin Gadkari express condolences. Professor Nirmalaya Kumar, former member of the Group Executive Council at Tata Sons, took to Twitter to say: “My dear friend, ex-boss and chairman of Tata Sons. Thank you for the life lessons. Inconsolable - We shared a laugh last month on a park bench in London. RIP.” He further said that Mistry had given him an opportunity that no one else would have and mentored him with patience.

Cyrus and I shared a laugh last month on a bench in London, says former strategy head of Tata Sons

<ul><li>The Supreme Court today ruled in favour of the <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> in its almost five-year long battle with its former chairman and a major shareholder <keyword id="6356895" type="ORGANIZATION" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword>.</li><li>As soon as the news broke, the share market celebrated the win as <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> Group stocks jumped.</li><li>A thankful <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> said that the judgment comes “after relentless attacks on my integrity and ethical conduct of the group”.</li></ul>The Supreme Court today ruled in favour of the salt-to-aviation giant Tata Group in its almost five-year long battle with its former chairman and shareholder Cyrus Mistry. The court also dismissed an appellate court order that allowed Cyrus Mistry to be reinstated as the group Chairman. And as soon as the news broke, the share market celebrated the win as Tata Group stocks jumped. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price jump as of 1 pm </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+4.22% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+2.11% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+3.90% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Global Beverages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.91% </td></tr></tbody></table> Cyrus Mistry, whose family holds a majority stake – as much as 18.5% stake in Tata Sons (the holding company of the Tata Group), was appointed as Chairman in 2012 and ousted in 2016. Ratan Tata also went on to talk about the news on Twitter. A thankful Tata said that the judgment comes ‘after relentless attacks on my integrity and ethical conduct of the group”. <div type="twitter" handle="RNTata2000" handlename="Ratan N. Tata" image="http://pbs.twimg.com/profile_images/1189494401359208448/AwbXHtpn_normal.jpg" favoritecount="15068" retweetcount="1750" status="https://t.co/CjAR6LzIah" createdat="1616742606000" id="1375344292726644738"></div> The top court said that all the laws were in favour of the Tata Group. “We cannot adjudicate on the question of compensation and they can take the route under Article 75. Order of NCLAT is set aside. Appeal by TATA group is upheld. Appeal by SP group is dismissed. Appeal by Cyrus Investments is dismissed,” said Chief Justice of India SA Bobde during the order. The top court further said, “We leave it to Tata Sons, Mistry to take legal route to resolve issue of shares. Value of Tata Sons shares depends on equity.” SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ratan-tata-wins-the-fight-against-cyrus-mistry-at-the-supreme-court/articleshow/81701951.cms">Ratan Tata wins the fight against Cyrus Mistry at the Supreme Court</a>

All Tata Group stocks soar in trade as Ratan Tata prevails in the legal battle with Cyrus Mistry at India's Supreme Court

Mumbai, In a rare peek into his personal sphere on Valentine's Day eve, renowned industrialist Rata Tata revealed certain private details like how he fell in love once and "almost got married". It was in Los Angeles where he had a great time and the weather was beautiful, he had his own car and loved his job. "It was in LA that I fell in love and almost got married. But at the same time, I had made the decision to move back at least temporarily since I had been away from my grandmother who wasn't keeping too well for almost 7 years," said Tata. However, he later went to visit her and thought that the person he wanted to marry would come to India with him. "But because of the 1962 India-China War, her parents weren't okay with her making the move anymore, and the relationship fell apart," said Tata, Chairman Emeritus of <keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword>, in a candid post on a Facebook page, 'Humans Of Bombay'.

Billionaire Ratan Tata reveals his private 'love story' on Valentine's Day eve

New Delhi, May 12 () The coronavirus pandemic is like world war and if some funds could be marshalled into certain areas, there could be another wave of innovativeness arising out of a problem just like what happened in World War II or the Cold War, according to veteran industrialist Ratan Tata.The current health crisis is a time to support "our own innovativeness", invest in it and "not dismiss something as being too far out but being something we should look at", said the Chairman Emeritus of Tata group holding firm Tata Sons in an interview on business news channel CNBC-TV18."It is not a world war but it is like a world war. There is a dramatic need for vaccine, there is a dramatic need for solutions and strange things happen," Tata said.He further said, "I think we have to look back and say where so and so innovativeness has its roots. Quite often it has its roots at time of crisis and we have a crisis on our hands today and so there is an issue of throw your hands up, you have this crisis and then there is our own innovativeness, it comes to play, that is a time we need to support to invest, to not dismiss something as being too far out but being something we should look at."On the roles that governments can play at present to support collaborations, he cited the example of the US where new industries have been ushered into with the government providing billions of dollars, "which the private sector would not have been able to do", to support "new technologies and biotechnology or in integrated circuits or in total variety of things"."...if we at a time like this had a way of marshalling some funds in certain areas, we could have another wave of innovativeness arising out of a problem just like we have had in World War II or the Cold War. If you look at the plus side of that, it caused innovation to take place which is perhaps not have happened, it would have taken much longer to do than they have done," Tata said.Reiterating that "this situation does give us an opportunity to innovate", he added, "but it tests us and it involves going through the transformation of looking at a different way to do things caused by shortages in this case or caused by strictures or legislation on the other side. New partnerships, everything is up for grabs."He said the crisis has stretched limit of innovation, which for a few years was thought to be at its limits."But a hard thing to say is that the virus today has an issue of generating those questions and forcing them on us, otherwise we would go along until there was a more enterprising entrepreneur who thought it. I think we have to look at this as an opportunity to do something that is more innovative than we would have done in 2020," Tata said. Stating that R&amp;D is no longer in silos at present, Tata said, "...today successful R&amp;D is multidisciplinary, many things that we see today would not be there if they were in silos today. So maybe there is a new phase of what we have to look at, which today are not silly, they make sense but there is another page to be turned to deliver something that was not considered possible." RKL MKJ

COVID-19 crisis opportunity to support 'own innovativeness': Ratan Tata

<ul><li>The <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> has shown interest in acquiring the assets of the now bankrupt <keyword id="6358200" type="ORGANIZATION" weightage="20" keywordseo="jet-airways">Jet Airways</keyword> as well as <keyword id="2573" type="CITY" weightage="20" keywordseo="Air-India">Air India</keyword> in the past. </li><li>State-owned Air India might also be on the block as soon as October this year. </li><li>Both airlines have something to offer to Tatas, while posing some serious challenges. </li></ul>It is not every day that an acquirer gets to choose between two country’s largest airline companies to acquire. But the country’s oldest business house, Tata Group is in that lucky position. Two top airlines are on the block--one of them is the bankrupt Jet Airways and loss-making Air India. Both of them present a unique opportunity to the Tata Group who already have interests in two airlines. They own domestic carrier Vistara which was launched in 2015, and have controlling stake in AirAsia India. Not the best Yet, this is not enough for the group which has flagship companies in every sector like TCS which is IT service leader, Trent which is a top retailer. In January, the combined number of passengers that they flew over 1.1 million passengers with a combined market share of 8%. However, the leaders are someone else. IndiGo was the undisputed leader in the market with a 40% share, in times when Jet was still flying. For Tatas to become one of the big players, it needs a push. Much bigger than the funds they are infusing into Vistara, which they own along with Singapore Airlines. This April, it had infused ₹900 crore into the company so that it could buy more aircraft. Vistara’s chairman Bhaskar Bhat had <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/vistara-will-continue-to-develop-its-network-in-india-abroad-mum-on-tata-groups-stand-on-jet-bhaskar-bhat/articleshow/68881116.cms?from=mdr">then also said </a>that it will concentrate on acquiring flying slots and aircraft, as he refused to comment on why they did not put in an expression of interest (EoI) called for Jet Airways lenders. Yet, the rumours of Tata’s interest in ‘acquiring’ an airline refuse to die down. After Jet went into bankruptcy,<a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/with-jet-in-nclt-hangar-assets-on-tata-radar/articleshow/70017183.cms"> reports said</a> that their interest is renewed. And that they’re interested in Jet’s international flying rights and aircraft, as they see no ‘value’ in buying the company right away. Budget Bonanza This changed status of Jet also goes with Vistara’s plans to expanding fleet and slots. But the Budget changed the game yet again. The Finance Minister Nirmala Sitharaman said that they will revive divestment of 100% stake in Air India. Later, reports said that this might happen in the next few months, which could be on the back of the fact that the airline is scrambling to pay salaries month after month. Tatas have a long-standing connection with Air India. For one, the airline was started by its legendary group head J R D Tata. It was nationalised during the Second World War, and taken over by the government in a pre-independence era. Sentiments aside, gaining control on the top airline which has a market share of 12.8% (which might have increased after Jet was grounded), can propel Tatas close to the second slot, and will be able to compete with IndiGo. Air India however comes with a massive debt of over ₹29,400 crore, some part of it could pass it on to the buyer. Jet’s debt is much lower at around ₹8,500 crore. But there are benefits that a ‘big player’ can bring. “In our view, Jet’s cessation of services has left a void in the full-service offering,” said a report by Citi commenting on relaxation of FDI norms in the aviation industry in the Budget. And, a big move might help Tatas soar to new heights in the sector.

The Tata Group has two airlines and two more to choose from—Air India and Jet Airways

<ul><li>The National Company Law Appellate Tribunal (NCLAT) has said that <keyword id="6356895" type="ORGANIZATION" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword>’s removal as the Chairman of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> is illegal.</li><li>The stock market, which was nearing closing, saw that the share price of almost all <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> companies fell. </li><li>Tata Motors fell by almost 3% closing at ₹175. </li></ul>The National Company Law Appellate Tribunal (NCLAT) has said that Cyrus Mistry’s removal as the Chairman of Tata Sons is illegal and that his position should be restored. As soon as the news broke during stock closing time, almost all the group company stocks fell. Tata Motors fell by almost 3% closing at ₹175. In the morning the company was trading at a seven month high of ₹185. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price fall </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>3% </li></ul></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Global Beverages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>3.5% </li></ul></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>1.93% </li></ul></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>1.43% </li></ul></td></tr></tbody></table>Source: BSE Meanwhile the stocks of other group companies like Tata Consultancy Services, Tata Steel etc weren’t affected. Cyrus Mistry, whose family holds a majority stake in Tata Sons, was appointed as Chairman in 2012 and was ousted in 2016. <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> has asked Mistry to step down from his post as the board had lost faith in him. However, Mistry’s refusal to leave had resulted in the very public spat between Tata and Mistry. Mistry was later replaced by the former TCS CEO, <keyword id="539517" type="PERSON" weightage="20" keywordseo="N-Chandrasekharan">N Chandrasekharan</keyword>. While upholding Mistry's appeal, the court has also admitted that there was 'mismanagement' by the Tata Sons Board and interference by Ratan Tata, as alleged by Mistry. This has cast a shadow on the Group's hallowed reputation and has planted suspicion in the minds of the investors who would wonder what these wrong decisions were. 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>

Tata Group stocks tumble after Mistry's legal win casts a shadow on the conglomerate's hallowed reputation

<a href="http://www.businessinsider.in/searchresult.cms?query=chandrasekeran&amp;sortorder=effectivedate">TCS CEO N Chandrasekaran</a> is the new chairman of <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>. The announcement comes months after removal of <a href="http://www.businessinsider.in/searchresult.cms?query=cyrus+mistry&amp;sortorder=effectivedate">Cyrus Mistry</a>. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=ratan+tata&amp;sortorder=effectivedate">Ratan Tata</a> was handling the top position since November and had formed a panel to decide on the new name. 
 <keyword id="56148" type="PERSON" weightage="100" keywordseo="Chandrasekaran">Chandrasekaran</keyword> was the top most choice of the panel. <keyword id="796" type="PERSON" weightage="20" keywordseo="Chandra">Chandra</keyword>sekaran, who is fondly known as Chandra, took over as <a href="http://www.businessinsider.in/searchresult.cms?query=TCS&amp;sortorder=effectivedate">TCS </a>CEO and MD in 2009. 
 
Since then, he has proven to be the right choice as he tough several tough decisions for India’s biggest IT conglomerate. 
 Under Chandrasekaran’s leadership, <keyword id="6357150" type="CITY" weightage="20" keywordseo="TCS">TCS</keyword> saw three-fold growth from Rs 30,000 crore ($6.34 billion) in 2010 to Rs 1.09 lakh crore ($16.5 billion) in FY16. Profits also jumped more than three times from Rs 7,093 crore to Rs 24,375 crore. 
 TCS, which is Tatas’ cash cow, now accounts for 60% of the <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword>'s combined market cap of $116 billion, besides contributing 70% to Tata Sons' revenue, which comes from dividends of its listed entities. 
 Meanwhile, <keyword id="283473" type="PERSON" weightage="20" keywordseo="Rajesh-Gopinath">Rajesh Gopinath</keyword> will take over from Chandrasekaran to be the new TCS CEO.

Breaking News: N Chandrasekaran is the new Tata Sons Chairman

<ul><li><keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> raised $250 million from Softbank to enter the unicorn club. </li><li>The subsidiary company of ride hailing unicorn Ola had earlier raised funds from <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Arun Sarin, Tiger Global, Matrix India and others. </li><li>Interestingly, all of these investors have also placed their bets on Ola.</li></ul>Ola Electric has become India’s latest unicorn after it raised $250 million from Softbank, according to filings sourced by paper.vc. Ola Electric Mobility , a subsidiary of the ride hailing unicorn Ola, has been in the news of late as India powers up its Electric Vehicle mission. In May, Ola Electric also raised funds from Arun Sarin, former Vodafone Group CEO and also from the Chairman Emeritus of Tata Group, Ratan Tata. In March, it had raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India. Interestingly, most of the investors in Ola Electric are its parent company’s investors – from Softbank to Arun Sarin, Ratan Tata and even Tiger Global and Matrix India. “India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world,” Bhavish Aggarwal, Co-founder &amp; CEO, Ola had said in March. Through Ola Electric, the company partnered with several equipment manufacturers and battery manufacturers, while looking to work with the automotive industry for solutions for electric vehicles. Ola had also recently announced its technology centre in the Bay Area, where it’s hiring over 150 engineers to develop next-generation technologies in mobility. See Also: <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</a> <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a>

Ola’s investors back its electric company – Ola Electric – welcome it to the unicorn club

<ul><li>Bengaluru-based <keyword id="6368309" type="UNKNOWN" weightage="20" keywordseo="urban-ladder">Urban Ladder</keyword> has sacked 90 employees in order to save the company from sinking. </li><li>Reports say that the company took the step as it was unable to raise funds. </li><li>Urban Ladder has marquee investors like <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Sequoia India, Steadview Capital, SAIF Partners, Kalaari Capital, among others on its board.</li></ul>Indian furniture retail <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> Urban Ladder has <a href="https://www.businesstoday.in/current/corporate/urban-ladder-lays-off-nearly-100-employees/story/354828.html">reportedly</a> laid off about 100 employees. The startup is known to have taken this decision as it was unable to raise funds to scale. It is also struggling to attain profitability. In an interview to the <a href="https://www.thehindubusinessline.com/info-tech/short-of-funds-urban-ladder-axes-40-of-its-workforce/article27705500.ece">Hindu Business Line</a>, the startup’s founder and CEO Ashish Goel said that the move to fire employees was taken as they had no other option, for they would have had to shut down otherwise. However, Urban Ladder has clarified that the incident happened 3 months ago. "As an organization, February and March were not easy months for us, as we are a company that deeply appreciates its employees. Having said that, after taking those tough calls, we are happy to know that the employees we did part ways with have used Urban Ladder as a great stepping stone to pursue other, great opportunities within the industry and beyond. We look forward to the future as we have some exciting things in store in the upcoming few months,” said Goel. According to the official statement from the company, in February/March, 90 employees (from the head office in Bengaluru) had been let go from the organization. The previous total headcount number was 957 and now is 711 which amounts to about 25% and it also includes third party employees and resources. The startup had been looking to raise funds for the longest time but had been unable to do so. <a href="https://entrackr.com/2019/06/urbanladder-400-employee-layoff-profitability/">Reports</a> also say that Urban Ladder’s losses although reduced from last year, were still a significant amount. Its losses were ₹4.59 billion in 2016-17 and ₹1.17 billion in 2017-18. The news comes as a surprise one as Urban Ladder had successfully raised funding in the past. Some of its marquee investors include Ratan Tata, Sequoia India, Steadview Capital, SAIF Partners, Kalaari Capital, amongst others. In September 2018, reports said that, that the startup was looking to raise $30-40 million to expand its business. Urban Ladder was founded in 2012, had evolved to be a furniture brand and had even opened <a href="https://www.businesstoday.in/current/economy-politics/urban-ladder-to-raise-usd-40-million-in-new-round-of-funding/story/282010.html">offline</a> outlets in Bengaluru and Delhi NCR. See Also: <a href="https://www.businessinsider.in/ikeas-franchise-partner-ingka-group-has-invested-in-livspace/articleshow/69413088.cms">IKEA's India partner invests in a home design startup that may in turn serve the Swedish retailer</a> <a href="https://www.businessinsider.in/pepperfry-to-ipo-soon-this-investor-says-yes/articleshow/68740748.cms">An investor in Pepperfry, India’s largest online furniture retailer, is in no rush to exit</a>

Urban Ladder had to let go 90 employees to be back on track for growth

There are so many things that one can learn from <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword>, and the art of keeping employees motivated is one of them. On Friday, the <a href="http://www.businessinsider.in/ratan-tata-is-not-stepping-down-from-tata-trusts-rubbishes-reports/articleshow/56018782.cms">chairman of Tata Trusts</a> called all employees of the Tata group "inheritors and custodians of the Trusts" and of its "belief in making a sustainable change" in society. 
 The <keyword id="123235" type="COMPANY" weightage="100" keywordseo="Charitable-Trust">charitable trust</keyword> owns 66% of <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>, which is the holding entity of all companies controlled by the conglomerate that deals in a variety of interests, ranging from salt, cars, technology and steel. 
 
Also read: <a href="http://www.businessinsider.in/jlr-unveils-range-rover-velar-thanks-ratan-tata-for-showing-faith/articleshow/57430509.cms">JLR unveils Range Rover Velar, thanks Ratan Tata for showing faith</a> 
 
"You bring your zeal, your vigor, your integrity and most importantly your hard work. It is because of you that we can derive and obtain the opportunity and the privilege to serve our community and through that, our nation," Tata wrote in a letter on the occasion of the 178th birth anniversary of Tata Trusts founder Jamsetji Nusserwanji Tata. It’s also the 125th year of the philanthropic organization. 
 
It was in 1892 that Tata Trusts was set up, in the form of the JN Tata Endowment, followed by Sir Ratan Tata trust in 1919, Sir Dorabji Tata Trust in 1932, the JRD Tata Trust in 1944, the Navajbai Ratan Tata Trust Jamsetji Tata Trust in 1974 and lastly, the Tata Education and Development Trust in 2008. 
 
The trust deals in healthcare, water, rural upliftment, energy, education, relief, rehabilitation and individual grants, and boasts of the creation of institutes such as the Indian Institute of Science, Tata Memorial Hospital, Tata Institute of Social Sciences and the National Centre for the Performing Arts, all reputed names in their respective fields. 
 However, only recently it was in the news because of former Tata Sons chairman <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> <a href="http://www.businessinsider.in/war-intensifies-cyrus-mistry-is-going-to-challenge-chandrasekarans-appointment-as-tata-sons-chairman/articleshow/56642005.cms">questioning its governance structure</a> and ambit of power. It was October 24, 2016 that Mystry was <a href="http://www.businessinsider.in/cyrus-mistry-removed-as-tata-sons-director/articleshow/57003221.cms">ousted from his post</a>, which led to the feud. 
 
Four months later, on February 21 2017, <a href="http://www.businessinsider.in/this-is-how-new-chairman-chandrasekaran-is-going-to-enhance-operational-expertise-at-tata/articleshow/57307123.cms">N. Chandrasekaran</a> was appointed the <a href="http://www.businessinsider.in/N-Chandrasekaran-takes-charge-as-Tata-Group-Chairman-this-is-what-he-said-after-taking-over-the-reins/articleshow/57267209.cms">new chairman</a> of the Tata group. Chandrasekaran had earlier served as the <a href="http://www.businessinsider.in/chandrasekaran-moving-out-of-tcs-may-be-alarming-for-most-profitable-it-company/articleshow/56564074.cms">CEO of TCS</a>. 
 
Chandrasekaran also wrote a letter of encouragement to his employees, saying that higher shareholder value and business performance can be achieved if the conglomerate focuses relentlessly on customers and use innovation to reinvent its businesses. 
 
(Image source: Garavi Gujarat)

Ratan Tata calls Tata employees inheritors and custodians of Tata Trusts

25th October 2016 was certainly a red-letter day in corporate history when the sitting, hand-picked Chairman of the Tata group and the single largest individual shareholder was sacked ignominiously with no prior information. The fact that this was done through the press with vague reasons like “performance and ethics” causing his downfall did not convince anyone. 
 This article would like to present another perspective. I have had no association with the Tata group and my comments are based on my understanding of the corporate world after spending almost 4 decades in this fascinating yet dog-eat-dog and highly politicized world. I have taken the liberty of using Bhishma Pitamah as a parallel for <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Arjun for <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> and Yudhishtar for the <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> board. 
 
Various television channels, with dozens of corporate gurus, have been pontificating about the Group and the key players, the flamboyant and highly visible Ratan Tata and the underplayed and introvert Cyrus Mistry. Obviously, most of these “gurus” have taken the side of the Tata group because that is the side their “bread will be buttered” for a long time to come. They are questioning the use of the term “lame duck” and the silence of Cyrus Mistry over the past 4 years. I would like to ask these “gurus” what else could they expect from a worthy successor of Ratan Tata who had inherited major problems, especially because he was not just the unanimously elected Chairman but also a shareholder. 
Cyrus Mistry was caught in an unenviable position – damned if he did and damned if he did not. Had he complained about the problem, our pundit would have written his epitaph very early stating that he was not large enough for the shoes of Bhishma Pitamah, My admiration for Cyrus Mistry goes up exponentially since he decided to clean-up after his more illustrious predecessor without washing their dirty linen in public. 
 
The doyen of corporate India, Bhishma Pitamah Tata, who will be 79 years on 28th December 2016, was responsible for the exit of most of the Tata group company leaders when he took charge as group Chairman (after a rather non-descript stint at the now defunct Nelco) built a strong brand and large global business that had its share of big successes and equally large failures. Since 1991, when took over as Chairman, he strode the corporate world like a colossus buying businesses. He promulgated the “retirement” age of the Tata group at 75 years, while most companies in corporate India still keep this age between 58 – 65 years. When he announced that he would be stepping down to bring in younger leadership, the world applauded his forward looking thinking. But like the old wise man from the Mahabharata, he assumed that he was tied to the throne as long as he was alive. 
 
Cyrus Mistry, in his very Arjunesque manner, had his eyes only on the target of increasing the returns to shareholders and closing down failing and non-profitable businesses. He went about his work clinically, delivering results as is evident from his letter published in all the newspapers today. 
 
To quote him, “Despite all of the above, during my term, the operating cash flows of the group have grown at 31% compounded per annum. The Tata Group valuation from 2013 to 2016 increased by 14.9% per annum in rupee terms as against the BSE Sensex annual increase of 10.4% over the same period. The Tata Sons net worth has increased from approximately Rs 26,000 crores to Rs 42,000 crores, after considering the impairments. This has significantly strengthened our balance sheet, enhancing our ability to absorb further shocks from restructuring in the companies.” 
 
If this is not great performance, I fail to understand what is! Corus, Nano, Air Asia, Air Vistara, overseas hotels, and dozens of other businesses started the under the leadership of Ratan Tata were not viable and the losses of these businesses will surely have to be taken into account sooner than later because they cannot stay hidden in the vast balance sheets and myriad of companies of the group.. 
 
The Board is equally accountable and responsible for the developments in the Group. They cannot claim to be the proverbial ostriches who did not know what was going on and under the garb of seeking support, they have decided to support with a person they perceive to be the stronger of the two. Yudhishtar, in Mahabharata was asked whether the son of Guru Dronacharya, Ashwathama had been killed. Yudhishtar, who had never told a lie in his life looked at an elephant named Ashwathama who Bhim had killed and replied that “Ashwathama is dead”. Guru Dronacharya surrendered his arms and was killed. That was a changing moment in the battle. Yudhishtar, whose chariot, always moved a few inches above the earth, had knowingly colluded with an untruth and his chariot dropped to the ground. 
 
The Tata Sons Board is no different from Yudhishtar. Not one of them had the courage to stand up to Bhishma Pitamah Ratan Tata. Losses were significant in most companies and yet these losses were being concealed in the books. Was there a threat that Cyrus Mistry would expose all in his efforts to clean-up? Board members, who pride themselves for their impeccable track record are equally complicit since they meekly accepted the decision as a fait accompli. Was it the threat of malfeasance and being exposed which led to this change? If a fresh start is being looked, shouldn’t the entire board be changed? 
 
The Tata Trusts which control a majority stake in Tata Sons have much to answer for as well. The stake holders in the Trusts are not only the trustees but the very large number of beneficiaries. What would happen to all the philanthropic work being down by these trust if Tata Sons has to take a write down of over US$ 19 billion? 
 
The battle has just begun. The skeletons will start to tumble out of various closets and all the dirty linen is being collected for being washed in the public domain. The domino effect is only just beginning. The stock market has already wiped out Rs 23,000 crores of the Tata market value in 2 days. 
 
The Tata group will now come under intense scrutiny. Its accounts will be looked at, its auditors will be questioned and its people will have to answer questions. They have given themselves four months to find a permanent successor to Cyrus Mistry, an uphill task but then the Board does not need to worry – they have the 79 year old Bhishma Pitamah to run the empire for as long as it takes. 
 
Sometimes, the moral of the story is to “let sleeping dogs lie”! 
 
(The author of this article is the founder Chairman of Guardian Pharmacies and the author of the best-selling books, Reboot. Reinvent. Rewire: Managing Retirement in the 21st Century; The Corner Office; An Eye for an Eye and The Buck Stops Here - Learnings of a #Startup Entrepreneur.)

You Searched For "Ratan Tata news" and got 12 results

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