
Chandrasekaran skipped Ratan Tata's TCS AGM meeting for 2nd day, reason is…, is he quitting company?
Chandrasekaran skipped Ratan Tata's TCS AGM meeting for 2nd day, reason is…, is he quitting company?
Tata Sons chairman N Chandrasekaran didn't appear in Annual General Meeting of Tata Consultancy Services (TCS) which was held on Thursday. This is the second time that he skipped the group's shareholder gathering. This is concerning for the Tata Group as it is the first time in more than 17 years that Chandrasekaran has missed the AGM meet of the largest IT services company. Notably, N Chandrasekaran promoted as the chairman of the diversified conglomerate from TCS's chief executive.
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India.com
4 hours ago
- India.com
Chandrasekaran skipped Ratan Tata's TCS AGM meeting for 2nd day, reason is…, is he quitting company?
Chandrasekaran skipped Ratan Tata's TCS AGM meeting for 2nd day, reason is…, is he quitting company? Tata Sons chairman N Chandrasekaran didn't appear in Annual General Meeting of Tata Consultancy Services (TCS) which was held on Thursday. This is the second time that he skipped the group's shareholder gathering. This is concerning for the Tata Group as it is the first time in more than 17 years that Chandrasekaran has missed the AGM meet of the largest IT services company. Notably, N Chandrasekaran promoted as the chairman of the diversified conglomerate from TCS's chief executive.


Economic Times
5 hours ago
- Economic Times
Sebi approves Tata Capital's confidential DRHP for Rs 17,200 crore IPO
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Tata Capital, a subsidiary of Tata Sons , is likely a step closer to launching its ₹17,200 crore initial public offering (IPO).Market regulator Securities and Exchange Board of India (Sebi) has cleared the non-banking financial company's draft papers for the public issue, which were filed through the confidential route, said two people familiar with the the Sebi clears the confidential draft red herring prospectus (DRHP), the company files an updated draft publicly on the regulator's website. The company would then file the red herring prospectus (RHP) with the regulator just before the launch of the Capital could file for an RHP in the first week of July, according to one of the two people quoted above. An email query to Tata Capital went unanswered until Friday press Capital's upcoming IPO-one of the largest ever in the financial sector-will consist of both a fresh share issue and an offer for sale by Tata Sons, which owns a 93% equity stake in the company. The company had filed for a confidential DRHP on April to Reserve Bank of India rules, Tata Sons and Tata Capital are treated as upper-layer NBFCs and are required to list by September 2025. This classification mandates the adoption of enhanced regulatory frameworks and listing within three NBFCs are those selected by the RBI based on certain rules and criteria that require them to follow stricter regulations. In January, the RBI named 15 such NBFCs for 2024-25, including Tata Capital's unlisted shares, which have risen 13.5% in the past six months, are trading at about ₹1,050 apiece, valuing the company at about ₹3.8 lakh the March quarter, its consolidated profit after tax rose 31% to ₹1,000 crore, up from ₹765 crore in the same period last year. Operational revenue increased nearly 50% to ₹7,478 crore compared to ₹4,998 crore a year the full fiscal year 2024-25, the company posted a profit of ₹3,655 crore as against ₹3,327 crore in FY24. Total revenue for the year rose to ₹28,313 crore from ₹18,175 crore.


Time of India
5 hours ago
- Time of India
JLR to face $2.1bn tariff hit: Chandra
Tata Group chairman N Chandrasekaran Mumbai: Tata Motors-owned British luxury carmaker Jaguar Land Rover faces potential tariff impacts of 1.6 billion pounds (about $2.1 billion) from new US trade measures, Tata Group chairman N Chandrasekaran said. He noted that ongoing mitigation plans aim to reduce this impact to 600 million pounds. "Tariff is a major issue, primarily for JLR," said Chandrasekaran at Tata Motors ' 80th AGM on Friday. "Without intervention, JLR's tariff rate would have gone from 2.5% to 27.5%. With the US-UK trade deal, the 27.5% tariff will drop to 10%. The overall impact even of the 10% will be 1.6 billion pounds. But JLR has taken a lot of steps through which it will be able to reduce the impact to 600 million pounds." This AGM marked Chandrasekaran's first appearance at a shareholder meeting after the Air India flight 171 crash on June 12, having missed shareholder meetings at Tata Consumer Products and TCS. The meeting held additional significance as it was the final AGM for Tata Motors before its division into two listed companies by year-end, focusing on passenger vehicles and commercial vehicles, respectively. Chandrasekaran also assured shareholders that China's export restrictions on rare earth magnets pose no immediate supply concerns, while the company explores alternative sourcing options. Rare earth elements play a crucial role in the production of permanent magnets, which are essential components in electric motors. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now