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<ul><li><keyword id="19986399" type="General" weightage="20" keywordseo="Tata-Electronics" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Electronics" meta.hostid="261" meta.entityid="Tata Electronics">Tata Electronics</keyword> has reportedly closed a deal to acquire a majority stake in Pegatron’s iPhone plant in India.</li><li>The Pegatron plant has a production capacity of five million iPhones annually.</li><li>This will be the company’s third iPhone manufacturing plant in India.</li></ul> Tata Electronics continues to strengthen its smartphone manufacturing business in India as it has reportedly sealed a deal to acquire a majority stake in Taiwanese contract manufacturer Pegatron iPhone plant in India. Earlier reports had revealed that Pegatron is in talks with Tata to sell its Chennai plant as part of Cupertino tech giant Apple’s strategy to diversify manufacturing outside of China amid geopolitical tensions between Beijing and Washington. <div type="Article" hostid="261" msid="113204340" title="iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900" mstype="2" mssubtype="0"></div> According to a<a href="https://www.reuters.com/markets/deals/tata-seals-deal-with-pegatron-iphone-plant-indias-tamil-nadu-sources-say-2024-11-17/"> report</a> by Reuters, Tata has agreed to acquire a 60% stake in a new joint venture with Pegatron that will see the Indian conglomerate oversee the day-to-day operations while Pegatron offers technical support, as per two sources familiar with the deal. The financial details of the deal have not been made public and the two companies reportedly plan on filing for approval from the Competition Commission of India (CCI) soon. <h2>Tata’s iPhone production in India to get a boost</h2>Tata already operates an iPhone assembly plant in Karnataka, which it acquired from Taiwanese giant Wistron last year. The company is building a second plant in Hosur, Tamil Nadu. The new plant as part of its partnership will give a boost to Tata’s iPhone production capabilities and make it the only company manufacturing iPhones in India apart from Foxconn. <div type="Article" hostid="261" msid="113203568" title="iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900" mstype="2" mssubtype="0"></div> The Pegatron facility has around 10,000 employees and has the capacity to manufacture five million iPhones annually. India, which contributed to around 12 to 14% of total iPhone shipments in 2023 is expected to contribute around 20 to 25% of shipments this year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms">Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market</a> <a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms">JioStar announces plans starting at ₹15 – here’s everything you need to know</a>

Tata to buy a majority stake in Pegatron's iPhone plant in India

Imagine a bustling jewellery market teeming with diamonds and gold. Amidst this glittering chaos, a small stall is trying to sell handcrafted gemstones. Even as newer and shinier outlets keep cropping up, all vying for attention, this gemstone store offers some of the oldest yet valuable jewels at a discount. Though they lack immediate sparkle, these rare gems reveal their value to the discerning buyer. This is how South Korea appears for many experts in global capital markets: a trove of undervalued gems, overshadowed by brighter, more aggressively marketed investment options. This undervaluation, known as the "<keyword id="24399183" type="General" weightage="20" keywordseo="korean-discount" source="keywords">Korean Discount</keyword>," reflects how South Korean companies are priced much lower than their global peers despite robust fundamentals — strong financial performance and consistent profitability. Contributing factors are many, ranging from opaque governance structures to geopolitical risks. But the fact stays, if you are a seasoned conglomerate listed in South Korea, you are likely undervalued. <keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Ltd. (HMIL), a subsidiary of the Korean giant Hyundai Motor Company (HMC), recently sought to escape this valuation trap by listing in India, a market where investor optimism commands premium pricing. But its valuation raised many eyebrows! Now that a month and a half has gone by since its listing, time is apt to examine if this gamble paid off. Will <keyword id="93460" type="General" weightage="100" keywordseo="hyundai-india" source="Orion">Hyundai India</keyword> justify its high valuation? Or does the listing highlight broader questions about the overheated valuation dynamics of Indian markets? A record-breaking <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> but questions remain Hyundai Motor India’s mega Initial Public Offering (IPO), launched in October 2024, broke records by raising ₹27,870 crore, making it India’s largest-ever IPO. The offer was oversubscribed by 2.37 times, highlighting robust demand. But many investors remained sceptical: was this IPO an honest attempt to expand Hyundai’s footprint in India or was it trying to offer a way to cashout for existing investors and promoters? Or perhaps, is it an attempt by the Korean chaebol — a large family-owned business conglomerate — to break free from the aforementioned “Korean Discount”? When shares listed on October 22, these concerns seemingly weighed on the minds of most investors and the stock promptly dipped 5% below the issue price on the day. A tepid grey market performance had already foreshadowed this muted debut in the Indian markets. Now, after almost 35 trading sessions on Indian market, the stock remains almost exactly at price it listed on October 22 at Rs 1820—no gain, no loss. <h3>The gamble of hyper-valuation</h3>Much of this hesitation stemmed from Hyundai’s valuation. On listing, Hyundai was valued at $18 billion, positioning it as one of India’s most valuable automotive companies. However, such high valuations often temper investor enthusiasm, resulting in more cautious short-term outcomes. For most investors, the Price-to-Earnings (P/E) ratio is the most preferred parameter to gauge if a company is overvalued or undervalued. With a P/E ratio of 26.3, HMIL was priced significantly above the Indian automotive industry average of 24.4. Globally, automotive companies operate with much lower P/E ratios, reflecting mature market conditions and slower growth trajectories. HMIL’s South Korean parent Hyundai Motor Company (HMC) trades at a meagre 3.07, believe it or not! For Indian investors, the high premium hinted at overvaluation despite Hyundai’s strong domestic position. Such stark difference in valuation obviously sparked debates — is the Indian market assigning a premium to Hyundai Motor India’s growth potential, or is it simply reflecting the general exuberance around the prospects of the Indian economy? Another concern is the allocation of IPO proceeds. Hyundai’s IPO was structured as an offer for sale (OFS), meaning all funds raised would flow to the parent company rather than Hyundai India’s operations. Although Hyundai has committed to investing in R&amp;D for EVs and hybrids, critics argue that the lack of immediate reinvestment in India’s operations reflects a missed opportunity for domestic growth. Despite the early disappointment, Hyundai was confident that the valuation was fair. It did have some factors going for it, in addition to the fact that other auto giants like Mahindra &amp; Mahindra and <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> command even higher P/E ratios. And looking at the company fundamentals, it does seem like Hyundai is playing a long-term game. <h3>Hyundai in India: A proven track record</h3>Despite the initial stumble, Hyundai India’s long-term story is compelling. Since entering the Indian market in 1996, the automaker has sold over 8 million vehicles and firmly occupies the second spot in the domestic passenger vehicle market, trailing only Maruti Suzuki. Hyundai’s blockbuster SUV offerings, like the Creta and Venue, have been critical in building this dominance. Despite some challenge from Maruti Suzuki Brezza and Tata Punch, Creta has retained the tag of ‘most-selling SUV in India’ successfully so far this year. <div type="image" title="Hyundai" agency="Business Insider India" msid="116156234" hostid="261" caption="&amp;lt;p&amp;gt;Selling over 17,000 units per month on average this year, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva)&amp;lt;/p&amp;gt;"></div> Selling over 17,000 units per month on average, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva) Hyundai India’s market share of 14% in October 2024 underscores its clout. The company’s ability to tap into India’s premiumisation trend, where consumers increasingly prefer high-end vehicles, positions it well for growth. With plans to expand in electric vehicles (EVs) and hybrid technology, Hyundai is poised to capitalise on both domestic demand and export opportunities. The company’s ability to capitalize on its strong brand, extensive dealer network, and leadership in segments like SUVs and exports will determine its future performance. Hyundai’s strategic focus on expanding electric vehicle production also aligns with global trends towards sustainability, potentially positioning it as a leader in the segment. By listing in India, Hyundai aims not only to expand its operations but also to make India a global manufacturing and export hub for its products, especially SUVs and EVs. Therefore, despite early setbacks, Hyundai’s gamble seems to have paid off. The stock has rebounded, gaining 5% in the past month. More good news came in this week, as positive projections from Morgan Stanley and JPMorgan forecast an impressive 17-28% upside for the stock over the next year, reflecting growing investor optimism. <h3>A strategic pivot from the Korean Discount?</h3>The Korean Discount has long plagued South Korea’s chaebols, including Hyundai. Experts attribute this to several factors: <ul> <li>Chaebol Governance: South Korea’s conglomerates, known as chaebols, are often criticised for opaque governance structures and excessive family control.</li> <li>Geopolitical Risks: Tensions with North Korea contribute to investor caution, adding a layer of perceived risk.</li> <li>Limited Domestic Liquidity: South Korea’s relatively small investor base can constrain market activity and valuation potential.</li> </ul> By listing in India, Hyundai sought to unlock better valuations for its subsidiary, leveraging the optimism of Indian markets. India’s stock market has a trailing P/E ratio of 24.4, far above South Korea’s Kospi average of 16-17. The Indian market’s appetite for high-growth stories provides a fertile ground for companies like Hyundai to escape the valuation constraints of their home market. A successful IPO could encourage other such conglomerates to follow suit, setting a precedent. While Hyundai India has a robust track record, its future success hinges on navigating key challenges: <ul> <li>Supply Chain Vulnerabilities: Hyundai relies heavily on its Chennai plant, making it vulnerable to disruptions.</li> <li>Intensifying Competition: Domestic rivals like <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> and MG Motors are making aggressive inroads into the EV market.</li> <li>Policy Risks: The automotive sector’s reliance on government incentives for EVs and hybrids adds a layer of unpredictability.</li> </ul> High valuations come with risks. Hyundai will need to prove that it can sustain its growth trajectory in India, fend off competition from established players like Maruti Suzuki and Tata Motors, and navigate challenges such as supply chain disruptions and regulatory hurdles. If Hyundai successfully capitalises on its strong brand and market leadership, it could not only redefine its value but also serve as a case study for other Korean companies seeking better recognition and valuations in global markets. <h3>Is Hyundai saga a reflection of overheated Indian markets?</h3>The bigger question here is, does Hyundai’s IPO highlights a broader narrative about Indian markets’ premium valuations? With a trailing P/E ratio of 24.4, Nifty 50 index is among the highest in emerging markets. India’s stock markets consistently command a premium due to robust retail participation, strong economic growth prospects, and a burgeoning middle class. While this premium reflects optimism about India’s long-term growth story, it also signals potential risks of overvaluation, particularly in sectors like technology, automotive, and consumer goods. With a record ₹94,017 crore outflow by Foreign Portfolio Investors (FPIs) in October 2024, concerns about overheated valuations are mounting. Sustaining such unprecedented valuations required companies to consistently perform above global averages, and retaining robust earnings growth quarter after quarter remains a challenge in today’s uncertain world. For Hyundai, the high valuation is both an opportunity and a risk. While it underscores investor confidence, it narrows the margin of safety, making the stock vulnerable to corrections during economic downturns. Take for example, the high-profile IPO of Life Insurance Corporation of India (LIC) that raised over ₹21,000 crore. Its listing was met with disappointment as the stock began trading at a 9% discount to its issue price, and subsequent performance has remained subdued. LIC’s post-IPO journey also highlights how inflated valuations can lead to long-term underperformance, as the stock gave only 12% return over the past 30 months when even the Nifty 50 index went up by over 44%. This happens when when the company's growth narrative fails to align with its pricing. Despite being a household name with a dominant market share, LIC's stock has struggled to meet expectations, partly due to concerns about its operating efficiency and the limited use of IPO proceeds for growth initiatives. Make no mistake, Hyundai Motor India’s IPO is a landmark event! It showcases the potential for Korean companies to leverage emerging markets like India for better valuations. It also shows that strong fundamentals can help justify a company such premium valuations even amidst bearish economic prospects. However, it also serves as a cautionary tale about the risks of overvaluation. For Hyundai, the next steps involve proving its long-term growth story, navigating competitive challenges, and maintaining investor confidence. For Indian markets, Hyundai’s IPO underscores the need to balance optimism with realistic expectations as they continue to evolve as global investment hotspots. To sustain the country’s economic narrative as a land of unmatched opportunities, corporate India must work on improving long-term fundamentals and mitigating long-term risks. As global investors watch closely, Hyundai India’s success or failure could shape how international companies view India as a listing destination in the years to come.

Tackling the 'Korean Discount': A deep dive into curious case of Hyundai Motor India's market listing

From the time Sir Dorabji <keyword id="19904884" type="General" weightage="20" keywordseo="tata" source="keywords">Tata</keyword> sponsored a handful of Indian athletes to the 1920 Antwerp Olympics, Tata group has been a constant in India's sporting landscape and the conglomerate's involvement only grew under <keyword id="19981455" type="General" weightage="100" keywordseo="ratan-tata" source="keywords">Ratan Tata</keyword>, who considered sport a "way of life". The chairman emeritus of Tata Sons died here at the age of 86 on Wednesday after being admitted to a hospital on Monday for "age and related medical conditions". His death triggered an avalanche of tributes from eminent personalities from all walks of life and sports was no different. From being the title sponsor of the glitzy Indian Premier League of cricket to supporting lesser-followed sports like archery to owning a football team in the Indian Super League to sponsoring a high-profile chess tournament, the Tata group has been deeply involved with the country's sporting ecosystem. Most of this involvement grew during Ratan Tata's tenure. "He always believed in 'sports is the way of life' and we are happy to carry forward the legacy. We have been the torchbearer of sports with 19 sporting verticals from football, hockey, archery to horse riding, boxing, karate, racket sports. You name it, we have it," an official involved with the JRD Tata Sports Academy, which was inaugurated in 1991 in Jamshedpur, told PTI. The growth in Tata Group's sporting involvement under Ratan Tata was the continuation of a legacy. After all, Sir Dorabji Tata, who played cricket, tennis and football, was the first President of the Indian Olympic Association (1924). This was after he had financed the Olympic appearance of four track-and-field athletes and two wrestlers at the Antwerp Games, helping organise their trials in Pune as well. Tata Steel Chess, which is also called the 'Wimbledon of chess', is a marquee event on global chess calendar, held at <keyword id="20385206" type="General" weightage="20" keywordseo="wijk-aan-zee" source="keywords">Wijk Aan Zee</keyword>, the Netherlands. It wasn't always known that. It was Corus Chess Tournament for the longest time before Tata Steel took over the title sponsor company, thereby claiming the rights of this event from 2007 onwards. Five-time world champion and Indian chess legend <keyword id="20221790" type="General" weightage="20" keywordseo="viswanathan-anand" source="keywords">Viswanathan Anand</keyword> was among the first sports icons to pay tributes to the late industrialist, saying that he "touched all our lives". "It is with profound sadness that we bid farewell to a giant of industry and philanthropy. We received our Padma Vibhushan together, and I was truly touched by his humility and genteel nature," Anand wrote on X. "The chess fraternity owes much to the traditions that are so closely associated with the Tata Group. @tatasteelchess in Holland is an event that made us chess players particularly proud, especially when the Tatas took over Corus, and later starting a new tradition with @tschessindia," he added. "The chess world and I offer our deepest condolences to @RNTata2000, a human being who touched all our lives and always stood for the good of society. Rest in peace," Anand continued. Tata Foootball Academy started back in 1987 under <keyword id="23494114" type="General" weightage="20" keywordseo="russi-mody" source="keywords">Russi Mody</keyword>, the then chairman of Tata Steel, who had the backing of Ratan Tata for the project. The academy has been supplying national level footballers since early '90s with its some of its noted alumni being current All India Football Federation head and former goalkeeper Kalyan Chaubey, Rennedy Singh, Dipendu Biswas and Kiran Khongsai. "TFA has played a pioneering role in Indian football by focusing on nurturing young talent and contributing significantly to the development of football in the country," the official associated with JRD sports complex said. "He (Ratan Tata) was there at the launch of Jamshedpur FC in the ISL in 2017. he interacted with the players and coaches, took photos with them. They also presented him with a signed jersey. He was very happy to see the team coming up and playing in the top tier ISL," he recalled. The enigmatic businessman was there to launch the hockey academy in Jamshedpur in 2019. "...perhaps for the last time he was here," the official said. Hockey India said Ratan Tata will be remembered as a "shining gem". "Your vision and endless contribution to our nation will never be forgotten. Your legacy will forever live with us till eternity. Hockey India pays tribute to one of Modern India's Pioneers - Ratan Naval Tata," it added. The legendary <keyword id="19919207" type="General" weightage="20" keywordseo="sachin-tendulkar" source="keywords">Sachin Tendulkar</keyword> said Ratan Tata's legacy will continue through his foundations. "In his life, and demise, Mr Ratan Tata has moved the nation. I was fortunate to spend time with him, but millions, who have never met him, feel the same grief that I feel today. Such is his impact," <keyword id="20012835" type="General" weightage="20" keywordseo="tendulkar" source="keywords">Tendulkar</keyword> wrote. The Tata Archery Academy in Jamshedpur has been the training ground for ace Indian archers Deepika Kumari and Atanu Das for several years. Given Tata Group's involvement in India's Olympic movement, it was hardly a surprise to see an outpouring of tributes from some of country's top athletes. "I'm very sorry to hear about the passing of Shri Ratan Tata ji. He was a visionary, and I'll never forget the conversation I had with him. He inspired this entire nation. I pray that his loved ones find strength. Om Shanti," posted India's track-and-field Olympic gold-winner, Neeraj Chopra. India's first-ever Olympics medal winner in badminton, <keyword id="20204318" type="General" weightage="20" keywordseo="saina-nehwal" source="keywords">Saina Nehwal</keyword> described him as a great man. "Ratan Tata sir aapki legacy hamesha humare saath rahegi. RIP (sic). (A great man and true visionary. Tata sir your legacy will always remain with us," she said. One of India's greatest spin bowlers and former captain Anil Kumble said, "Mr. Ratan Tata's contribution extends far beyond business. His legacy of giving back to society will continue to inspire future generations. Rest in peace." "An institution who embodied Excellence, Vision and Humility. A Philanthropist par excellence. A massive loss to society. Condolences to the entire Tata family. God bless his soul #RatanTata," wrote former India player and coach <keyword id="19958622" type="General" weightage="20" keywordseo="ravi-shastri" source="keywords">Ravi Shastri</keyword>.

The Tata effect on Indian sports: Ratan Tata's demise mourned by India stalwarts

The <keyword id="19924335" type="General" weightage="100" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> is set to create a massive 5 lakh jobs in the manufacturing sector over the next five years, spanning industries such as <keyword id="20009962" type="General" weightage="20" keywordseo="semiconductors" source="keywords">semiconductors</keyword>, <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> (EVs), batteries, and precision manufacturing. Tata Sons Chairman, <keyword id="19981536" type="General" weightage="20" keywordseo="N-Chandrasekaran" source="keywords">N Chandrasekaran</keyword>, made this announcement on Tuesday, underlining the critical role manufacturing will play in India’s ambition to become a developed nation. Speaking at a symposium organised by the Indian Foundation for Quality Management, Chandrasekaran highlighted that India’s progress depends heavily on its ability to generate <keyword id="22266334" type="General" weightage="20" keywordseo="manufacturing-jobs" source="keywords">manufacturing jobs</keyword>. He stressed that creating employment in this sector is crucial, given the influx of new workers entering the job market each month. “Through our investments in semiconductors, electric vehicles, precision manufacturing, and related industries, Tata Group expects to generate 5 lakh jobs over the next five years,” Chandrasekaran said as per a PTI report. He pointed to the group’s upcoming semiconductor plant in Assam and new manufacturing facilities for electric vehicles and batteries as significant contributors to this <keyword id="20268654" type="General" weightage="20" keywordseo="job-creation" source="keywords">job creation</keyword>. Chandrasekaran also talked about the broader impact of these initiatives, explaining that job creation in manufacturing has a multiplier effect, with numerous indirect employment opportunities arising from these projects. According to his calculations, for every direct job created in sectors like semiconductors, up to ten additional indirect jobs could emerge. The Tata Group’s investments will also spur the growth of small and medium enterprises (SMEs), with an estimated 5 lakh such businesses expected to form as part of the evolving ecosystem supporting these industries. While praising the government’s support for these initiatives, Chandrasekaran said that India’s vision of becoming a “Viksit Bharat” (developed India) cannot be achieved without substantial growth in manufacturing employment. “Every month, one million people join the workforce, and we need to create 100 million jobs,” he added, reinforcing the urgency of job creation in new-age industries. (With PTI inputs)

Tata Group will generate 5 lakh jobs in 5 years, says Tata Sons Chairman N Chandrasekaran

The Maharashtra government has declared a day of mourning on Thursday (October 10) to honour the late <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, a towering figure in Indian industry, who passed away on Wednesday night at the age of 86. Tata, celebrated for leading the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> to international acclaim, died at Breach Candy Hospital in Mumbai following a brief illness. In the early hours of Thursday morning, his remains were transported from the hospital to his Colaba residence, accompanied by a police escort. Several prominent figures, including Maharashtra Chief Minister <keyword id="19913631" type="General" weightage="20" keywordseo="Eknath-Shinde" source="keywords">Eknath Shinde</keyword>, Deputy Chief Minister Devendra Fadnavis, Education Minister Deepak Kesarkar, and industrialist Mukesh Ambani, visited the hospital upon learning of his passing. The Maharashtra Chief Minister’s Office confirmed that, as a mark of respect, the state flag would be flown at half-mast on Thursday, and all entertainment activities would be paused for the day. The public will have the opportunity to pay their respects to Ratan Tata at the National Centre for the Performing Arts (NCPA) in south Mumbai, where his body will lie in state from 10 am to 3:30 pm. Tata’s final rites are scheduled to be performed later on Thursday in Worli. Meanwhile, Maharashtra Chief Minister Eknath Shinde announced late Wednesday night that Ratan Tata will be accorded a state funeral. In a post on X, CM Shinde described Tata as a “unique blend of morality and entrepreneurship” and hailed him as a living legend who successfully led the Tata Group, a conglomerate with a 150-year legacy. “Ratan ji Tata’s mortal remains will be accorded a state funeral,” Shinde said as per a PTI report. Praising Tata’s legacy, Shinde said that the industrialist will remain a source of inspiration for future generations of entrepreneurs. He also recalled Tata’s unwavering strength during the 26/11 terror attacks, when the Tata Group’s Taj Hotel in Colaba was one of the primary targets of the 2008 tragedy. “His resoluteness during the 26/11 terror attack will always be remembered,” the Chief Minister added. Tata, born on 28 December 1937 in Mumbai, was the driving force behind the growth of the Tata Group from 1991 until his retirement in 2012. He was also known for his philanthropy, serving as Chairman of the <keyword id="20869864" type="General" weightage="20" keywordseo="Ratan-Tata-Trust" source="keywords" meta.keywordsubtype="org" meta.entityname="Ratan Tata Trust" meta.hostid="261" meta.entityid="Ratan Tata Trust">Ratan Tata Trust</keyword> and Dorabji Tata Trust, two of India’s largest private-sector philanthropic organisations. In 2008, he was honoured with the Padma Vibhushan, the country’s second-highest civilian award. (With PTI inputs)

Ratan Tata to be accorded state funeral, Maharashtra declares day of mourning to honour Tata Group chairman

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​Ratan Tata's enduring legacy of compassion — caring for society and animals

Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> has expressed deep sorrow over the death of <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, Chairman Emeritus of <keyword id="19991117" type="General" weightage="20" keywordseo="Tata-Sons" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Sons" meta.hostid="261" meta.entityid="Tata Sons">Tata Sons</keyword>, who passed away on Wednesday evening. In a series of heartfelt posts on X, <keyword id="19899320" type="General" weightage="20" keywordseo="PM-Modi" source="keywords">PM Modi</keyword> shared his admiration for Tata’s leadership, <keyword id="20202027" type="General" weightage="20" keywordseo="philanthropy" source="keywords">philanthropy</keyword>, and enduring impact on Indian society. “Ratan Tata Ji was a visionary business leader, a compassionate soul, and an extraordinary human being,” PM Modi wrote. He praised Tata’s role in steering one of India’s most respected business groups and acknowledged how his contributions extended far beyond the corporate world. “He provided stable leadership to one of India’s oldest and most prestigious business houses. At the same time, his contribution went far beyond the boardroom. He endeared himself to many through his humility, kindness, and unwavering commitment to improving society,” Modi added. The Prime Minister expressed personal grief, writing, “Extremely pained by his passing away. My thoughts are with his family, friends, and admirers in this sad hour. Om Shanti.” Reflecting on his long-standing relationship with the industrialist, PM Modi reminisced about their frequent meetings during his time as Chief Minister of Gujarat, describing the exchanges as enriching. “My mind is filled with countless interactions with Shri Ratan Tata Ji. I would meet him frequently in Gujarat when I was the CM. We would exchange views on diverse issues. These interactions continued when I came to Delhi.” In his tribute, Modi highlighted Tata’s passion for championing social causes. “One of the most unique aspects of Shri Ratan Tata Ji was his passion for dreaming big and giving back. He was at the forefront of championing causes like education, healthcare, sanitation, and animal welfare.” Defence Minister Rajnath Singh also paid tribute to the late industrialist, referring to Tata as a “Titan of <keyword id="20642696" type="General" weightage="20" keywordseo="Indian-industry" source="keywords">Indian industry</keyword>.” In a post on X, Singh said, “Saddened by the passing away of Shri Ratan Tata. He was a Titan of the Indian industry known for his monumental contributions to our economy, trade, and industry.” Tata, born on 28 December 1937 in Mumbai, was the driving force behind the growth of the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> from 1991 until his retirement in 2012. He was also known for his philanthropy, serving as Chairman of the Ratan Tata Trust and Dorabji Tata Trust, two of India’s largest private-sector philanthropic organisations. In 2008, he was honoured with the Padma Vibhushan, the country’s second-highest civilian award.

PM Narendra Modi condoles Ratan Tata's death: 'A visionary business leader and a compassionate soul'

<keyword id="19923231" type="General" weightage="100" keywordseo="Air-India-Express" source="keywords" meta.keywordsubtype="org" meta.entityname="Air India Express" meta.hostid="261" meta.entityid="Air India Express">Air India Express</keyword>, part of the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword>, is set to reconfigure its aircraft starting in April 2025 and will be focusing solely on <keyword id="23932064" type="General" weightage="20" keywordseo="economy-class-seating" source="keywords">economy class seating</keyword>, a PTI report says. This follows the merger of AIX Connect (formerly AirAsia India) with Air India Express on October 1, marking a major step in Tata’s broader consolidation of its airline operations. Currently operating a fleet of 90 aircraft, including Boeing 737s and A320s, Air India Express has plans to expand its reach, particularly to smaller cities and towns. The airline aims to simplify its fleet by eliminating <keyword id="21350335" type="General" weightage="20" keywordseo="business-class" source="keywords">business class</keyword> seats, opting instead for a uniform economy layout across its narrow-body planes. The decision comes as the airline faces supply chain challenges that have delayed the delivery of new aircraft. To bridge the gap, it has already inducted 35 white-tail Boeing 737-8 planes, with plans to add 15 more in the coming months. White-tail aircraft are planes originally manufactured for other carriers and later repurposed by Air India Express. These planes, often with varying business class configurations, will be reconfigured to fit the airline’s new model. The PTI report adds that by eliminating business class, the airline aims to better serve its core market—connecting <keyword id="20567886" type="General" weightage="20" keywordseo="Tier-2-and-Tier-3-cities" source="keywords">Tier 2 and Tier 3 cities</keyword> with major metropolitan hubs, while expanding its international network. In addition to strengthening its domestic routes, Air India Express plans to focus on regional international flights, particularly to destinations in the Gulf, Southeast Asia, and eventually South Asia. Air India Express’ network strategy is closely aligned with that of the larger Tata Group’s airline portfolio, which includes Air India, Vistara, and the recently merged AIX Connect. As part of this consolidation, Air India Express aims to meet growing demand for affordable travel between smaller towns and metros, a market segment identified as a key growth area. The move towards an economy-only fleet reflects broader industry trends, with many <keyword id="20314404" type="General" weightage="20" keywordseo="low-cost-carriers" source="keywords">low-cost carriers</keyword> focusing on streamlining operations to reduce costs and improve efficiency. Air India Express plans to increase its fleet to over 110 aircraft by the end of the financial year, with further additions expected in the future. (with PTI inputs)

Air India Express to bid adieu to business class seats next year, will turn into economy only airlines

Dear Reader, Another week draws to a close, and there’s much to discuss across the business and tech world. As <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>’s passing sends ripples of emotional reflection throughout India, former employees of <keyword id="20050933" type="General" weightage="20" keywordseo="Tata-Cliq" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Cliq" meta.hostid="261" meta.entityid="Tata Cliq">Tata Cliq</keyword> opened up about how his leadership values shaped their careers. Meanwhile, the electric vehicle space saw turbulence as <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> faces rising customer complaints and a noticeable dip in market share—raising questions about the company’s once-stellar reputation. Additionally, with World <keyword id="19956983" type="General" weightage="20" keywordseo="mental-health" source="keywords">Mental Health</keyword> Day just behind us, we put the spotlight on the importance of mental well-being in high-pressure environments through insights from a former <keyword id="19902762" type="General" weightage="20" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> employee. And something seems to be off with the GenZ folk as they begin showing off their <keyword id="23513751" type="General" weightage="20" keywordseo="smartphone-pinkies" source="keywords">smartphone pinkies</keyword>. Join us as we dive into these stories and more, keeping you informed on the latest shifts in business and more. <h2>Top stories from the week </h2> ’My parents received a letter thanking them when I joined’: Ex-Tata Cliq employees recall Ratan Tata’s company culture Former employees of Tata Cliq recall how Ratan Tata’s compassionate leadership and values were ingrained in the company’s culture. Many employees never met him personally but felt his influence through practices that valued not only the workers but also their families. For instance, a former Cliq employee shared that her parents received a letter of thanks when she joined Tata Cliq, reflecting the deep respect the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> held for its employees. <a href="https://www.businessinsider.in/business/article/my-parents-received-a-letter-thanking-them-when-i-joined-ex-tata-cliq-employees-recall-ratan-tatas-company-culture/articleshow/114118229.cms" data-type="tilCustomLink" target="_blank">Read more</a> The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for <keyword id="19914967" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="keywords">Bhavish Aggarwal</keyword>? Ola Electric, once dominating India’s electric two-wheeler market, is now facing a surge in customer complaints and a sharp decline in market share. The company has been under fire for long wait times, unresolved technical issues, and customer dissatisfaction. The government has also issued notices for potential violations. Once holding nearly half the market, Ola’s share has fallen to 27%, with competition from legacy automakers Bajaj Auto and TVS Motors rapidly increasing. Is this a wake-up call for Ola’s founder Bhavish Aggarwal? <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms" data-type="tilCustomLink" target="_blank">Read more</a> <keyword id="19919711" type="General" weightage="20" keywordseo="Gen-Z" source="keywords">Gen Z</keyword> folk are showing off their ‘smartphone pinkies’ — and the images are horrifying A new trend called “smartphone pinky” is gaining attention, with Gen Z users flaunting bent or dented pinkies caused by holding their phones for extended periods. This quirky phenomenon is becoming a viral sensation on platforms like TikTok and Instagram. While some celebrate their “iPhone pinkies” as a badge of honour, medical experts warn that these habits could lead to more serious conditions like carpal tunnel syndrome and nerve damage. <a href="https://www.businessinsider.in/science/health/news/gen-z-folk-are-showing-off-their-smartphone-pinkies-and-the-images-are-horrifying/articleshow/114070817.cms" data-type="tilCustomLink" target="_blank">Read more</a> The Nobel Prize-winning ‘godfather of AI’ says he’s glad one of his students had a hand in ousting Sam Altman from OpenAI Geoffrey Hinton, a newly awarded Nobel laureate in physics and the “godfather of AI,” expressed pride that his former student, <keyword id="21285071" type="General" weightage="20" keywordseo="Ilya-Sutskever" source="keywords">Ilya Sutskever</keyword>, played a role in ousting Sam Altman from OpenAI. Hinton noted that Altman prioritised profits over AI safety, diverging from the original vision of OpenAI. Though Sutskever later expressed regret for his decision, Hinton’s remarks highlight the growing tensions within the AI industry. <a href="https://www.businessinsider.in/artificial-intelligence/news/the-nobel-prize-winning-godfather-of-ai-says-hes-glad-one-of-his-students-had-a-hand-in-ousting-sam-altman-from-openai/articleshow/114077932.cms" data-type="tilCustomLink" target="_blank">Read more</a> World Mental Health Day: Ex-Google employee shares tips on protecting mental health at the workplace, says he experienced stress and anxiety On World Mental Health Day earlier this week, former Google employee Nicholas Whitaker opened up about the stress and anxiety he faced during his 13-year tenure at the tech giant. He talked about the importance of setting boundaries, practising mindfulness, and aligning work with personal values to maintain mental well-being. <a href="https://www.businessinsider.in/careers/article/world-mental-health-day-ex-google-employee-shares-tips-on-protecting-mental-health-at-workplace-says-he-experienced-stress-and-anxiety/articleshow/114072724.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Top web stories</h2> <a href="https://www.businessinsider.in/travel/india/webstories/top-dussehra-getaways-from-delhi-escapes-for-the-festive-weekend/slidelist/114046437.cms">Top Dussehra getaways from Delhi: Escapes for the festive weekend</a> <a href="https://www.businessinsider.in/travel/india/webstories/vande-bharat-sleeper-trains-first-glimpses-show-snazzy-colours-and-comfortable-furnishings/slidelist/114068864.cms">Vande Bharat sleeper train’s first glimpses show snazzy colours, comfortable interiors</a> <a href="https://www.businessinsider.in/science/health/food/webstories/9-ways-to-curb-your-sugar-cravings-for-a-healthier-lifestyle/slidelist/113851201.cms">9 ways to curb your sugar cravings for a healthier lifestyle</a>

Weekend wrap: Ratan Tata's legacy, Ola Electric's woes, smartphone pinkies and more

Singapore Airlines will make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November. The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1% stake in the enlarged Air India. Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49% shareholding. Vistara's last flight will take off tomorrow i.e. November 11, 2024. Singapore Airlines (SIA) Group on Friday said its consideration for the merger comprises the 49% interest in Vistara and Rs 20,585 million (Rs 2,058.5 crore) in cash in exchange for a 25.1% equity interest in the enlarged Air India. Post-merger, SIA expects to recognize a non-cash accounting gain of around 1.1 billion Singapore dollars and also start equity accounting for its share of Air India's financial results. According to a release on Friday, the merger includes an agreement for SIA to contribute its share of any funding previously provided by Tata prior to the completion of the merger, together with relevant funding costs up to Rs 5,020 crore that would allow it to maintain a 25.1% stake in Air India. "SIA's additional capital injection is expected to be Rs 31,945 million (equivalent to SGD 498 million), based on Tata's funding to Air India to date. This will occur after the completion of the merger and within November 2024 through subscription to new Air India shares. "Future capital injections will be considered based on Air India's requirements and available funding options," according to the release issued while announcing the airline's financial performance for the six months ended September 2024. The merger of Vistara with Air India will mark a major consolidation in the fast-growing Indian aviation space. SIA said the merged entity will have a significant presence across all key Indian air travel segments, including domestic, international, full-service, and low-cost operations. "This will strengthen SIA's multi-hub strategy, allowing it to continue participating directly in India's large and fast-growing aviation market," it added. Recently, Air India and SIA agreed to significantly expand their codeshare agreement, adding 11 Indian cities and another 40 international destinations to their network.

Singapore Airlines to invest additional Rs 3,195 cr in Air India post-Vistara merger

Mumbai: Tata Indica, the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword>'s big passenger car bet, was not delivering expected returns a year into its launch. Desperate, the <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> brass, led by <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, acceded to a meeting request from <keyword id="23121503" type="General" weightage="20" keywordseo="Ford-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Ford Motors" meta.hostid="261" meta.entityid="Ford Motors">Ford Motors</keyword> for a possible sale of the passenger vehicles division to the American auto major. Some people had advised Tata to sell the business, and the Ford officials came to Bombay House to hold talks. During the meeting at the Tata headquarters, the American company evinced interest in buying out the business after the not-so-warm response to the hatchback car for over a year since launch. Soon, top Tata officials, led by Ratan Tata, went to the US for a further meeting, which lasted about three hours. According to a person who attended the meeting, officials from Ford "humiliated" the visiting Indians at the meeting in Detroit. "You do not know anything, why did you start the passenger car division at all," the Ford officials told their guests, and spoke about doing a favour to the Indian company by buying out the latter's business. The team decided to return to India immediately after the meeting, which was described as "humiliating" by the person present. On the 90-minute flight taking them back to New York, a sombre Ratan Tata spoke very few words. "This was in 1999 and come 2008, the same Ford's <keyword id="19916884" type="General" weightage="20" keywordseo="JLR" source="keywords">JLR</keyword> was bought by us. Ford chairman Bill Ford thanked Tata, saying, 'You are doing us a big favour by buying JLR'," Pravin Kadle, a long-time group veteran, had recounted during a public event a few years ago. In 2008, the Tata Group bought the iconic brands from making sedans and sports utility vehicles in a USD 2.23-billion deal from Ford. Post-acquisition, the Tata Group has scripted one of the most fabulous turnarounds in the auto industry and has been able to position the marquee British brands as formidable entities in the fiercely competitive global car market. Even as Tata Motors has come a long way and gained market share in India, it continues to earn a significant part of its revenues from the JLR.

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You Searched For "tatas" and got 13 results

Tata to buy a majority stake in Pegatron's iPhone plant in India

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Remembering Ratan Tata: Have you seen these photos of the beloved industrialist?

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