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<ul><li>Britain and the European Union have agreed on the outline for a deal for the United Kingdom's exit from the monetary union.</li><li>The deal will still need the approval of both the UK and European parliaments.</li><li>A bunch of Indian stocks rallied on Thursday celebrating a possible deal that will end the uncertainty as they derive a big chunk of their business from the UK.</li></ul>Britain and the European Union have agreed on the outline for a deal for the United Kingdom's exit from the monetary union. While Prime Minister Boris Johnson celebrated on Twitter, and the European Commission President Jean-Claude Juncker said it was a "fair and balanced agreement", the deal will still need the approval of both the UK and European parliaments. Meanwhile, a bunch of Indian stocks rallied on Thursday celebrating a possible deal that will end the uncertainty as they derive a big chunk of their business from the UK. Three of those companies were from the Tata Group namely, Tata Consultancy Services (TCS), Tata Communications, and Tata Motors, which owns the UK-based Jaguar Land Rover brands of luxury cars. There are now a record 842 Indian companies operating in the UK, with combined revenues of over £48 billion, according to a Grant Thornton report in April 2019. Only eight of those companies have an annual revenue of over £250 million. <table style="width: 480pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:120pt">Company</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 120pt;">Revenue from UK</td> <td class="xl66" style="border-left-width: initial; border-left-style: none; width: 120pt; border-right-width: initial; border-right-color: transparent;"> Employees in UK </td> <td class="xl67" style="border-left-width: initial; border-left-style: none; width: 120pt;">Share price gains on Oct 17</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">Mastek</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">71%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">2200</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">+7.62%</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">HCL Tech</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">17%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">2538</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.06%</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">Tata Motors</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">13%</td> <td class="xl73" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">42,660</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">+13.27%</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">Tata Steel</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">13%</td> <td class="xl73" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">21,100</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">+3.6%</td> </tr> <tr> <td class="xl68" style="height: 26.25pt; border-top-width: initial; border-top-style: none; width: 120pt;">Tata Consultancy Services (TCS)</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">13%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">2686</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-0.85%</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">Tata Chemicals</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">3%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">1048</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">+2.08%</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">Tech Mahindra</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">11%</td> <td class="xl73" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">1,190</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-0.4%</td> </tr></tbody></table>

Boris Johnson's Brexit deal sets Tata Group and other stocks alight in India

<ul><li>Boris Johnson has won a historic majority for the conservatives in the United Kingdom, not seen since Margaret Thatcher.</li><li>With 326 of 650 Parliament seats, Prime Minister Johnson has enough strength to 'Get Brexit Done'. </li><li>The UK will be out of the European Union by January end and while that will still hurt the economy, it ends a lot of uncertainty.</li><li>There are a record 842 Indian companies operating in the UK, with combined revenues of over £48 billion.</li></ul>Boris Johnson has a historic majority for the conservatives in the United Kingdom, not seen since Margaret Thatcher. With a whopping 326 seats for the winning side, according to the BBC, Prime Minister Johnson has more than enough strength in the 650-member Parliament to 'Get Brexit Done' i.e. the UK will be out of the European Union by January end, which was his election promise. Soon after, a bunch of Indian stocks rallied on Thursday celebrating a possible deal that will end the uncertainty as they derive a big chunk of their business from the UK. Three of those companies were from the Tata Group namely, Tata Consultancy Services (TCS), Tata Communications, and Tata Motors, which owns the UK-based Jaguar Land Rover brands of luxury cars. There are now a record 842 Indian companies operating in the UK, with combined revenues of over £48 billion, according to a Grant Thornton report in April 2019. Only eight of those companies have an annual revenue of over £250 million. <table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 480pt; font-family: Merriweather; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"></colgroup></colgroup><tbody><tr><td class="xl65" style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Company</td><td class="xl65" style="border-top: 1px solid rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">Revenue from UK</td><td class="xl66" style="border-top: 1px solid rgb(221, 221, 221); border-right: solid transparent; border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">Employees in UK </td><td class="xl67" style="border-top: 1px solid rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">Share price gains on Dec 13</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Mastek</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">71%</td><td class="xl70" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">2200</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+6.57%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">HCL Tech</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">17%</td><td class="xl70" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">2538</td><td class="xl72" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+0.17%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Tata Motors</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">13%</td><td class="xl73" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">42,660</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+3.63%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Tata Steel</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">13%</td><td class="xl73" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">21,100</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+3.51%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 26.25pt; width: 120pt;">Tata Consultancy Services (TCS)</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">13%</td><td class="xl70" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">2686</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+0.5%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Tata Chemicals</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">3%</td><td class="xl70" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">1048</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+1.17%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Tech Mahindra</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">11%</td><td class="xl73" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">1,190</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">-0.46%</td></tr></tbody></table> This would mark the end of an uncertainty, that has lingered on since the people of Britain voted to leave the EU for the first time June 2016. While leaving the monetary union will still be a setback for the British economy⁠— a recent estimate estimated a 1.1% to 2.6% contraction in GDP⁠— businesses are heaving a sigh of relief that at least the problems will be more predictable now. SEE ALSO: <a href="https://www.businessinsider.in/politics/news/the-campaign-to-stop-brexit-is-over-and-britain-is-heading-for-another-decade-of-conservative-dominance/articleshow/72499424.cms" data-type="tilCustomLink" target="_blank">The campaign to stop Brexit is over and Britain is heading for another decade of Conservative dominance</a>

Boris Johnson is not the only one celebrating a historic majority  for UK conservatives— a bunch of Indian stocks are thrilled too

<ul><li>JLR said that its sales in <keyword id="1334" type="LOCATION" weightage="20" keywordseo="China">China</keyword> fell by 46% in September owing to uncertainty and weak consumer demand in the light of trade tensions and import duty changes. </li><li><keyword id="42747" type="COMPANY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> derives nearly 80% of its revenues from JLR. Hence, its results are highly dependent on that of the UK luxury vehicle brand. </li><li>As concerns over a <keyword id="106030" type="PERSON" weightage="20" keywordseo="US-China">US-China</keyword> <keyword id="182860" type="PERSON" weightage="20" keywordseo="trade-war">trade war</keyword> mount, JLR is shutting down production at its facility in Solihull, UK for two weeks. </li></ul>The last few years have been a mixed bag for Tata Motors in terms of commercial performance as its fortunes have been directly tied to its UK luxury car business, <keyword id="6354362" type="COMPANY" weightage="20" keywordseo="Jaguar-Land-Rover">Jaguar Land Rover</keyword> (JLR), which provides a bulk of its revenues and profits. For example, in the year ended March 2018, the unit comprised 77% of Tata Motors’ revenue from automotive operations. When JLR does well, Tata Motors does well and vice versa. As demand has slumped in the UK and Europe amid Brexit uncertainty, JLR had pinned its hopes on the luxury vehicle market in China. Last year, it set up a manufacturing facility in the city of Changshu through a joint venture with Chery Automobile Ltd. The unit posted record sales in China in 2017, with sales up 23% to 146,399 units. However, the US-China trade war has significantly hurt JLR’s sales this year, and by extension, has dragged down Tata Motors’ performance. On 8 October, JLR <a href="https://www.tatamotors.com/force-download/?att_id=zcM4mA1L9Nyxl-jdZaZX7Q==&amp;file=iIX5SvrxPyPB5cb7u10VMw==">announced</a> that its global sales fell by 12% in September, driven by a 46% plunge in sales in China owing to the uncertainty and weak consumer demand in the light of trade tensions and import duty changes. The results caused Tata Motors’ share price on the Bombay Stock Exchange to fall by nearly 14% to ₹186 - the lowest level since mid- 2012. Earlier this year, Tata Motors posted its worst quarterly result since 2009 as JLR’s sales in China plummeted. For the quarter ended June 2018, JLR reported a loss of £210m, causing Tata Motors’ net loss for the period to widen to <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/e11b2867-9ecf-453e-9afd-7188bb09be3e.pdf">₹18.6 billion</a>. As concerns over a US-China trade war mount, Tata Motors is responding to the decline in Chinese demand by lowering production and cutting costs where it can. The Indian carmaker has decided to shut down production at its manufacturing facility in Solihull, UK for two weeks this month. Last month, JLR said its plant in Castle Bromwich would transition to a three-day workweek from October to December.

Tata Motors’ Jaguar Land Rover unit is a major casualty of the US-China trade war

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Thomson ReutersAn employee works at a factory of Dongbei Special Steel Group Co., Ltd., in Dalian</div></div></div>Tata Sons, the holding company that owns Tata Steel, unexpectedly removed Cyrus Mistry as company chairman, replacing him with former chief Ratan Tata.The company issued a short statement that gave no indication of how the board came to its decision."Tata Sons today announced that its Board has replaced Mr. Cyrus P. Mistry as Chairman of Tata Sons. The decision was taken at a Board meeting held here today," <a href="http://www.tata.com/article/inside/tata-sons-chairman-selection-committee">the group said in a statement on its website on Monday.</a>Mistry had taken over as chairman from Ratan Tata in 2012. The group is looking for a permanent chairman, according to the statement.The Tata Group has a turnover of more than $100 billion and owns brands including Tetley tea, Jaguar Land Rover and Tata Steel, the second biggest steel producer in Europe.The steel unit caused a political stir earlier this year when it threatened to pull the plug on some of its <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> steel plants, including Port Talbot in Wales. The plant is Tata's biggest in the UK but reportedly loses £1 million a day, unable to compete with cheap Chinese-made steel.Tata <a href="http://uk.businessinsider.com/tata-steel-sells-uk-business-to-greybull-capital-2016-4">sold off several UK assets to Greybull Capital i</a>n June, saving around 4,400 jobs but the fate of the 4,000 workers at Port Talbot is still uncertain. The Times noted that Ratan Tata said that the company's UK plants were "underinvested and overmanned" and that it might need to "cut back on the size and the scale of the operations and make them profitable." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/oxford-economics-gregory-daco-hillary-clinton-minimum-wage-too-much-too-fast-2016-10">An economist explains why Clinton's plan to raise the minimum wage to $15 might be 'too much, too quickly'</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="I5bHlhNjE6SP62qMZWa87cbE4xnfQlVb" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

A huge Indian company replaced its chairman and it might not be good news for steelworkers in Port Talbot

New Delhi, Feb 4 () Tata Global Beverages Ltd on Tuesday reported a 24.76 per cent increase in consolidated net profit at Rs 135.85 crore in the third quarter ended December, aided by higher sales and lower tax rate.
 The company had posted a consolidated net profit of Rs 108.89 crore in the year-ago period, Tata Global Beverages Ltd (TGBL) said in a regulatory filing.
 Revenue from operations in the third quarter stood at Rs 1,961.9 crore as compared with Rs 1,912.58 crore in the corresponding period last fiscal, it added.
 "Group consolidated net profit is higher by 25 per cent as compared to corresponding quarter of the previous year aided by lower tax rate and improvement in the performance of associates and joint ventures," the filing said.
 The company said its revenue growth was driven by improvement in branded and non-branded business.
 Commenting on the performance, TGBL Managing Director and CEO Ajoy Misra said, "The company recorded steady revenue growth despite challenging macroeconomic conditions in India and some key international markets."
 He further said, "Our new launches in India are geared towards unlocking white space opportunities through greater localisation. In international markets, we have launched products aimed at revitalising the black tea category."
 The company's focus on health and wellness continues and will further strengthen innovation agenda while investing behind core brands, Misra added.
 The India branded tea business clocked a growth of 7 per cent in volume and 6 per cent in value terms during the quarter, TGBL said.
 The joint venture business of Tata Starbucks clocked a 27 per cent growth in revenue during the quarter, opening 28 new stores. It now has 174 stores spread across 11 cities in India, it added.
 The company also launched new products in the UK and US markets aimed at revitalising black tea market, while in Canada it recorded volume growth in branded tea, it said. RKL RVK

Tata Global Beverages Q3 net up 25 pc at Rs 135.85 cr

MUMBAI: WPP-owned J <keyword id="473766" type="PERSON" weightage="20" keywordseo="Walter-Thompson">Walter Thompson</keyword> is likely to win a global advertising contract from the <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword>, the first time that the conglomerate will embark on a corporate brand initiative as part of Chairman <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>’s push to make its worldwide presence felt more strongly. 
 
The two sides are yet to sign on the dotted line but a verbal commitment has been extended to the agency, according to well-placed insiders. A formal announcement is likely next week. Sources estimate the size of the business at just under Rs 200 crore. The group hasn’t engaged in any brand activity except during centenary celebrations a few years ago. 
 
During the celebrations, an awardwinning, football-themed film on the group’s values was made by Arun Nanda-led Rediffusion Y&amp;R. “The new management under the leadership of Cyrus Mistry feels the need to position Tata as a force on the global platform,” said a top Tata Sons executive explaining the rationale behind the campaign. 
 Mistry, who took over as chairman of holding company Tata Sons in 2012 from <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, will be looking to strengthen the group’s presence in global markets as an increasing share of its business comes from overseas. “More than half of the (group) companies’ revenues are… from the international markets,” said the person cited above. 
 
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“And while people are aware of the individual companies, they don’t know that these companies actually belong to Tata Sons. And thus the company feels that this is the right time to launch a global campaign.” 
 As ET reported in May, pitches kicked off in the first week of April. with five agencies participating — <keyword id="6375201" type="COMPANY" weightage="20" keywordseo="JWT">JWT</keyword>, TBWA, Y&amp;R, McCann World-Group and FCB Ulka. 
 
Of these, the first three made it to the final round of presentations that took place in May. The brief was simple, according to the CEO of one of the agencies that participated: “What should the Tatas do to be globally visible?” 
 The group wants people to look beyond <keyword id="6357585" type="CITY" weightage="20" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> and <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> unit <keyword id="42034" type="COMPANY" weightage="20" keywordseo="Jaguar">Jaguar</keyword> <keyword id="44719" type="PERSON" weightage="20" keywordseo="Land-Rover">Land Rover</keyword>, he suggested. "I think the idea is to build salience for the brand Tata so that people see more than just TCS and JLR. It is something that they are trying to fix.” 
 
A JWT executive said winning the deal was more about prestige than anything else. “More than the size of the business it is an extremely prestigious account because no other Indian company has gone global this way,” the person said. He said the pitch was led by Colvyn Harris, CEO of JWT South Asia, and the team had members from the agency’s New York and London offices. Harris declined to comment. 
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A Tata Sons spokesperson said, “We have not appointed any agency so far, and will make an announcement at the appropriate time.” It wasn’t clear whether Tata wants one advertising campaign that will run across markets or if it will have separate country-wise campaigns with one overarching theme and tagline since the positioning of the group’s units vary across geographies. For instance, the group is the largest employer in the manufacturing sector in the UK, which is very different from its positioning in the US or even China. A top executive at another agency that participated in the pitch said, “They don’t have a plan yet. They have also not finalised the media plan as well and therefore don’t know if it will be an above-theline (aimed at a wide audience) or below-the-line campaign (more sharply focused). And therefore they have not yet finalised a media agency.” 
 
However, executives aware of the plans say the media business will be integrated with one of the WPP agencies, a strategy that works well for both JWT and Tata if the two go ahead with the initiative.

J Walter Thompson Likely To Win Global Advertising Contract From Tatas For Image Makeover

<ul><li><keyword id="148911" type="COMPANY" weightage="20" keywordseo="Tata-Global-Beverages">Tata Global Beverages</keyword> saw a 17% fall in profits to ₹152 crores. </li><li>But the company’s India tea business clocked a growth of 8% in volume and value. </li><li>Tata <keyword id="6377922" type="COMPANY" weightage="20" keywordseo="starbucks">Starbucks</keyword> clocked a 26% growth in revenue for the quarter. </li></ul>Tata Global Beverages’s second quarter profits fell by 17.1% to ₹152 crore. Its revenues grew by 4% to ₹1,834 crore. However, thankfully because of the chai and coffee lovers, the company – which is the world’s second largest manufacturer and distributor of tea – saw no impact of economic slowdown on sales. “Our flagship brands in India recorded good growth and we will continue to focus on white space opportunities in the Indian market,” said Ajoy Misra, Managing Director and CEO of Tata Global Beverages. According to the company, the India tea business clocked a growth of 8% in volume and value terms. Meanwhile, Tata Starbucks’ sales grew 26% for the quarter. Its international sales are growing too. The total revenue from Tata Coffee and <keyword id="13486" type="LOCATION" weightage="20" keywordseo="Vietnam">Vietnam</keyword> unit saw an 18% growth along with a volume growth from tea and coffee in the UK, US and Canada. “Our international markets reflected volume growth in both tea and coffee. We will continue to strengthen our innovation agenda while further strengthening our core brands. Our JVs continue to perform well and have posted good revenue growth in the quarter,” said Misra.

Chai and coffee were not hit by the great Indian economic slowdown

<ul><li> Production at the new gigafactory is due to start in 2026.</li><li><keyword id="6354362" type="General" weightage="50" keywordseo="jaguar-land-rover" source="Orion">Jaguar Land Rover</keyword> will be the anchor customer of the new gigafactory.</li><li>The new gigafactory with an initial output of 40GWh will be one of the largest in Europe.</li></ul> The UK government on Wednesday announced that the <keyword id="6355725" type="General" weightage="80" keywordseo="tata-group" source="Orion">Tata Group</keyword> is to invest over 4 billion pounds in setting up a new electric vehicle (EV) battery plant, or gigafactory, in Britain which will create thousands of jobs across the supply chain. British Prime Minister <keyword id="221875" type="General" weightage="70" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword> hailed it as an "incredibly proud" moment for the country's automotive industry and described it as a testament to the strength of the UK car manufacturing industry and its skilled workers. <keyword id="42747" type="General" weightage="60" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> owns UK-based luxury carmaker Jaguar Land Rover (JLR), which will be the anchor customer of the new gigafactory with an initial output of 40GWh - making it one of the largest in Europe. Production at the new gigafactory is due to start in 2026 and is pitched as a key driver behind Sunak's priority to grow the UK economy. "Tata Group's multi-billion-pound investment in a new battery factory in the UK is a testament to the strength of our car manufacturing industry and its skilled workers," said Sunak. "With the global transition to zero-emission vehicles well underway, this will help grow our economy by driving forward our lead in battery technology whilst creating as many as 4,000 jobs, and thousands more in the supply chain," he said. "We can be incredibly proud that Britain has been chosen as home to Tata Group's first gigafactory outside India, securing our place as one of the most attractive places to build electric vehicles," the British prime minister said. As one of the largest-ever investments in the UK auto industry, the new factory will create up to 4,000 highly skilled jobs as well as thousands of further jobs in the wider supply chain for battery materials and critical raw minerals. The gigafactory will secure UK-produced batteries for JLR as well as other manufacturers in the UK and Europe. The location of the new gigafactory is expected to be in Somerset, south west England. "Our multi-billion-pound investment will bring state-of-the-art technology to the country, helping to power the automotive sector's transition to electric mobility, anchored by our own business, JLR," said N Chandrasekaran, Chairman of parent company Tata Sons. "With this strategic investment, the Tata Group further strengthens its commitment to the UK, alongside our many companies operating here across technology, consumer, hospitality, steel, chemicals, and automotive," Chandrasekaran said. The Department for Business and Trade (DBT) said details of the government's incentives and support provided to the Tata Group as part of the agreement will be published in due course as part of regular transparency data. However, reports in the lead-up to the announcement had indicated subsidies in the form of grants, energy subsidies and other training and research funding would be part of the agreed package. "Today's multibillion-pound investment demonstrates that this government has got the right plan when it comes to the automotive sector," noted UK Business and Trade Secretary Kemi Badenoch. "We are backing the UK car industry to help grow our economy as we transition to electric vehicles, and this latest investment will secure thousands of highly-skilled jobs across the country," Badenoch said. The investment of over 4 billion pounds is seen as a historic moment for the UK's growing electric vehicles (EV) industry, with JLR's suite of <keyword id="91410" type="General" weightage="50" keywordseo="range-rover" source="Orion">Range Rover</keyword>, Defender, Discovery and Jaguar brands as the key customers. The Tata investment is described as crucial to boosting the UK's battery manufacturing capacity needed to support the electric vehicle industry in the long term and the new plant will cover almost half of the battery production that the Faraday Institution estimates the country will need by 2030. "This is a huge vote of confidence in the UK and one that will drive growth in our economy, creating thousands of jobs and powering our transition to electric cars," said UK Chancellor Jeremy Hunt. "Tata Group's gigafactory builds on the strength of our manufacturing industry and shows we're on the right track, backing the sectors that will underpin our future prosperity for decades to come," he said. DBT said the government is committed to making the UK one of the best places in the world for automotive investment, as evidenced by the Automotive Transformation Fund (ATF), the British Industry Supercharger supporting industry energy needs, and the strong programme of support for research and development. "This new gigafactory puts us firmly in the fast lane to becoming the capital of Europe's electric car market, and makes crystal clear how they see the UK as the place to be for their future growth," added UK Energy Security Secretary Grant Shapps. "With thousands of jobs on-site and in the supply chain, this new factory will be the cornerstone of our automotive industry, backing manufacturers to develop and expand, and customers to make the switch from petrol and diesel," he said.

Rishi Sunak hails Tata Group's multi-billion EV investment in UK

<keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> said that access to markets and skilled workforce would be considered important post <a href="http://www.businessinsider.in/brexit-impact-global-economy/articleshow/52899336.cms">Brexit</a>, adding that that each of its 19 firms having interests in the UK will be going in for a business review. 
 
"There are 19 independent Tata companies in the UK, with diverse businesses. Each company continuously reviews its strategy and operations in the light of developments, and will continue to do so," read a statement from Tata Sons. 
 
"Access to markets and skilled workforce will remain important considerations," the statement added. 
 
Tata Group stocks had a <a href="http://www.businessinsider.in/Bloodbath-in-the-Indian-markets-as-Brexit-causes-panic/articleshow/52895611.cms">hard fall </a>this morning after the Brexit results, <a href="http://www.businessinsider.in/Bloodbath-in-the-Indian-markets-as-Brexit-causes-panic/articleshow/52895611.cms">going down </a>by up to 13%. This could be cited to the Indian conglomerate's huge exposure to UK. 
 
Specifically, Tata Motors stocks fell 12.9%, Tata Steel tanked 10.89%, TCS plummeted 4.81%, Tata Elxsi dipped 9.21%, Tata Global Beverages saw a fall of 7.26%, Tata Chemicals drubbed 5.72% and Tata Communications went down by 5.34%. 
 
Tata Sons has been operational in the UK since 1907, and out of its 19 firms having interests in the region, <a href="http://www.businessinsider.in/Tata-Motors-profits-treble/articleshow/52519229.cms">JLR </a>and <a href="http://www.businessinsider.in/Tata-Steel-UK-sells-its-Europe-Long-Products-business-to-Greybull/articleshow/52536515.cms">Tata Steel </a>are most globally known. 
 
<a href="http://i1.tribune.com.pk/wp-content/uploads/2012/12/485835-cyrusmistryafp-1356679939.jpg">Image source</a>

Tata Sons would focus on market access and skilled workforce after Brexit

<keyword id="2913002" type="UNKNOWN" weightage="80" keywordseo="SA-Hasan">SA Hasan</keyword>, former Managing Director of <keyword id="1677238" type="UNKNOWN" weightage="80" keywordseo="Tata-Limited">Tata Limited</keyword> has been recognized by <keyword id="67995" type="UNKNOWN" weightage="80" keywordseo="Queen-Elizabeth-II">Queen Elizabeth II</keyword> as an honorary Commander of the Most Excellent Order of the British Empire (CBE) for his aid to the country’s economy. 
 
Hasan held the post of Managing Director of Tata in Europe from 1999 to 2013. He played a major role in the growth of Tata's UK investments in the process. This includes the accretion of Tetley Tea, Corus Steel, INCAT International and Jaguar Land Rover. 
 
Hasan’s other contributions include the growth of Tata Consultancy Services, Taj Group, Tata Communications and Tata Elxsi in Britain. This has led to Tata now being one of the country's largest manufacturers. 
 
He has also improved British-Indian trade by pusing some joint ventures to introduce British companies to the Indian market. 
 
David Landsman, Executive Director, Tata Limited said: "This honour is a great tribute to Anwar Hasan's key role in smoothening the way for Tata's major investments in the UK which have played a vital part in the group's global expansion". 
 
(Image credit: Indiatimes)

Erstwhile Tata director hailed by Queen Elizabeth II

British Prime Minister <keyword id="6430216" type="PERSON" weightage="20" keywordseo="David-Cameron">David Cameron</keyword>’s move to bring down net <a href="http://www.businessinsider.in/Getting-a-British-visa-wont-be-so-easy-for-Indians-and-other-immigrants-from-now-on/articleshow/47630590.cms">migration</a> in UK from outside the European Union has begun to worry <keyword id="398704" type="UNKNOWN" weightage="20" keywordseo="Indian-IT-firms">Indian IT firms</keyword> like <a href="http://www.businessinsider.in/searchresult.cms?query=TCS">Tata Consultancy Services</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=infosys">Infosys</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=wipro">Wirpo</a>. 
 
The Indian IT industry is already grappling with <a href="http://www.businessinsider.in/86-Indians-in-computer-jobs-get-H-1B-visas/articleshow/48453766.cms">visa issues</a> in the US. 
 
Now the UK, which is the second largest market for <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+IT+companies">Indian IT firms</a>, also wants to bring reforms in its policies like limiting migration to 100,000, increasing minimum salary threshold for skilled workers, etc. 
 
The UK accounts for about 18%, or about $18-$19 billion, of export revenue annually, according to industry body Nasscom. 
 
According to Back-The-Mac, a group that campaigns against the use of <a href="http://www.businessinsider.in/searchresult.cms?query=ICT">ICT</a> visas, the number of Indian workers on ICT visas in the UK was the highest at 36,762 as of December 2014. 
 
Meanwhile, Indian IT companies fall under UK's tier-II visas that pertain to skilled workers from outside the UK. 
 
The Migration Advisory Committee (MAC) has asked for suggestions from partners to help it formulate a response to the review of tier-II visas. 
 
Among the questions asked is the impact of putting tighter ICT "restrictions on the IT sector specifically" and the impact of the use of ICT provisions in the IT sector on existing UK companies and resident workers. 
 
"The most worrisome proposal is the restriction on numbers of tier-II visas as that will reduce deployment agility. The second one is the increased cost due to the minimum wage and additional employer levy which will increase the cost of delivery and adversely affect market competitiveness for Indian companies," said Sanjoy Sen, doctoral research scholar, Aston Business School, UK. 
 
However, Nasscom said there will be no impact on net migration in the UK because of the ICT visa, which is similar to the L-1 visas used in the US. 
 
(Image: Indiatimes)

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