Latest news with #NoelTata
India.com
7 days ago
- Business
- India.com
Noel Tata's BIG step, this company to build one of world's largest… in Rs 144323875000 investment plan awards new contract to…
Noel Tata's BIG step, this company to build one of world's largest… in Rs 144323875000 investment plan awards new contract to… As part of its efforts to reduce carbon emissions, the company is transitioning from the blast furnace route to the low-emission electric arc furnace process. By Anirudha Yerunkar Edited by Anirudha Yerunkar Advertisement Tata Steel UK has taken one more step to its green steel production plan by awarding a major contract to JASO Industrial Cranes, a global leader in process crane manufacturing. As part of its 1.25 billion pound investment in sustainable steelmaking at Port Talbot, UK, Tata Steel will receive seven high-capacity process girder cranes from JASO. These cranes will play a critical role in supporting the operations of the plant's Electric Arc Furnace (EAF) facility. Advertisement === When fully operational in 2028, Tata Steel's Electric Arc Furnace will be one of the largest in the world and reduce the site's carbon emissions by 90 per cent – equivalent to five million tonnes of CO2 a year. Key components of the contract with JASO Cranes include 500-tonne capacity cranes for handling liquid steel ladles, essential for the efficient operation of the new steelmaking facility, two 80-tonne scrap cranes to feed the Electric Arc Furnace via an integrated conveyor system, ensuring a steady supply of raw materials, and two 35-tonne cranes for electrode maintenance, supporting the ongoing operation of the plant's advanced equipment. Advertisement === Stuart Lloyd, Project Manager for the Cranes Project, said: 'We are excited to strengthen our longstanding partnership with JASO on this crucial part of our 1.25 billion pound transformation. 'Back in 2019, we worked with JASO to replace our 60-year-old North Charging Crane, which lifted hot metal ladles to charge the Steel Plant's converters with molten iron. We have built on the lessons learned from that project to help guide this exciting next phase of our green steelmaking journey,' Lloyd said. 'These seven new, high-capacity process cranes will play a pivotal role in connecting different parts of our cutting-edge Electric Arc Furnace facility, enabling low-emission steel production in South Wales for many years to come.' Raul Fernandez, Marketing and Sales Director at JASO Industrial Cranes said: 'We are extremely proud to continue delivering cutting-edge engineering solutions for high-profile projects like this one in Port Talbot'. 'This order marks both the largest and most impactful project in our company's history. It is truly a privilege to play a key role in the UK steel industry's transition to a stronger and more sustainable future.' India-based Tata Steel owns the UK's largest steelworks of 3 million tonnes per annum (MTPA) at Port Talbot in South Wales and employs around 8,000 people across all its operations in that country. (With Inputs From PTI)
India.com
27-05-2025
- Business
- India.com
Noel Tata's BIG bet on artificial intelligence, TCS split its AI Cloud business unit into…, target higher growth from…
Noel Tata led TCS has restructured its business unit into two distinct verticals to capitalize on untapped market opportunities and drive higher growth, a senior official announced. As part of its strategic focus on artificial intelligence (AI), the Tata Group company has established a dedicated business unit specially for AI, while creating a separate unit to concentrate on Cloud technologies, according to senior officials as cited by PTI. Siva Ganesan, who is heading the newly created AI Data unit, said AI is getting more pervasive by the day and featuring in every conversation now, and added that it is only expected to get bigger and more intense as we go ahead. 'For us, the volume and the vibrancy of activity we are seeing in the AI and data space has grown manyfold in the last 12 months,' he told PTI, declining to share details by numbers as the company does not break up AI revenue in reporting. He said that this would be like a central unit, a repository of all AI things. The company feels that there is significant growth potential and a wide untapped market for both, AI and Cloud, officials said, pointing out that this is the reason to have dedicated business units. An official said that data is being made a part of the AI business unit because both are closely linked and explained that in many cases where the data landscape of organisations may not be ready to deal with AI, TCS can offer its services as a combined proposition. Ganesan was the chief of the unit earlier, while Krishna Mohan, the deputy head of the will now head the cloud unit. Ashok Krish has been appointed as the global head of AI while Satish Byravan will be the global head of Data. The company aspires to grow 'exponentially' in the evolving field of AI and capture the rapidly changing market, due to which it is 'inevitable' to run AI as a focused and more close-to-domain unit, an official said. (With Inputs From PTI)
India.com
20-05-2025
- Automotive
- India.com
Noel Tata's BIG plan is set, Tata Motors to launch…, wants to to strengthen its…
Noel Tata (File) Tata Motors is focusing on expanding its electric vehicle (EV) lineup and enhancing the value of its existing models as part of its strategy to make EVs dominant in the domestic passenger vehicle market. The Mumbai-based automotive giant plans to introduce the later this fiscal year, followed by the while also rolling out several upgrades to its current models. Tata Motors sold about 65,000 EVs in FY25, a drop of 10 per cent as compared with FY24. Strengthening EV portfolio with new launches, as we also strengthen the value proposition of existing products, it said in a post-result investor presentation. The company aims at continued efforts towards mainstreaming EVs, with focused market development and ecosystem actions, it noted while outlining the focus areas for sustainable growth in the passenger vehicles segment in FY26. On the internal combustion engine vehicle segment, the company said it aims at "leveraging its strongest and freshest portfolio yet, with product interventions across hatches and SUVs. The company aims to enhance brand consideration through comprehensive marketing campaigns and brand associations, to improve customer experience. Besides, it intends to focus on accelerating cost reduction initiatives to ensure competitiveness and profitability in a tough environment, it added. In the commercial vehicle business, the company said it expects improved fleet utilisation and a stable sentiment index with most macroeconomic indicators on track. We anticipate sustained growth despite global headwinds; the company stated. The company's focus in the current fiscal would be to ensure a smooth transition of AC regulation in trucks, coupled with value enhancements. Tata Motors will also continue to redefine the future of mobility with an expansive product portfolio, smart digital solutions and new nameplate launches, it stated. The company also aims to improve retail market shares in all segments and, win back SCV shares by increasing penetration (With Inputs From PTI)
The Print
01-05-2025
- Business
- The Print
Is Tata Trusts a charity or a business empire? See Tata Sons' stormy listing
Shapoorji Pallonji, an infrastructure heavyweight currently in the midst of financial stress, is the second-largest shareholder in Tata Sons with more than an 18 per cent stake. Shapoorji, which is raising funds to revive its business, wants Tata Sons to be listed. But Tata Trusts — the largest shareholder with a 66 per cent stake — has opposed the listing of the holding company. Listing may imply a dilution of Tata Trusts' hold over the Tata group. There's more. On the listing issue, there's speculation of divergence of views within Tata Trusts, now chaired by Noel Tata, who's related to the Shapoorji Pallonji family. Noel Tata is the half-brother of Ratan Tata and brother-in-law of Cyrus Mistry, who was removed as chairman of Tata Sons in 2016 in a boardroom coup of sorts. Mistry died in 2022 in a road accident. It all started with the RBI classifying Tata Sons as an upper layer non-banking financial company (NBFC) in September 2022, implying that it would be required to list on the stock exchange within three years. Tata Sons has sought an exemption from the RBI, asking to be deregistered as a core investment company (CIC) so that it can skip the initial public offering (IPO) and listing. However, the views of its two biggest shareholders on the subject add to the complexity. As the deadline to list Tata Sons gets closer, the holding company of the $165-billion group appears to be surrounded by uncertainty over its future corporate structure. The Reserve Bank of India (RBI) has yet to clarify whether Tata Sons will have to turn into a publicly-listed entity by September 2025 or if it will be granted an exemption. Why is the listing of Tata Sons such a stormy matter? After all, there are as many as 26 publicly listed Tata group companies with a combined market cap of around $365 billion as of last year. In 2024 alone, more than 300 companies in India went for IPOs to raise around Rs 1.8 trillion. The reasons for listing typically include raising capital, enhancing visibility and reputation, and attracting investors. In the case of Tata Sons, access to a wider pool of investors could mean a dilution of the shares of the two largest shareholders — Tata Trusts and Shapoorji Pallonji. This, in turn, could also mean a change in the ownership structure of Tata Sons itself. While the possibility of a change in the ownership structure may be fuelling the storm — and to some extent, the dispute — listing Tata Sons could indeed bring in a fresh layer of corporate governance to the company that controls a vast range of diverse businesses. Tata Trusts' 'hold'' over Tata Sons has often drawn criticism for blurring the line dividing the two entities. There have been allegations of overreach against the Trusts in the past — an issue that figured prominently in the Supreme Court verdict in the Cyrus Mistry case. With Ratan Tata's passing in October 2024, questions around the role of Tata Trusts and its relationship with Tata Sons have resurfaced. Noel Tata, besides being named the chairman of Tata Trusts, was also inducted as a Tata Sons nominee director following Ratan Tata's death. Unlike his predecessor, Noel Tata became Tata Trusts chairman before any exposure to the Tata Sons board. On the other side, N Chandrasekaran, who's midway into his second term as chairman of Tata Sons, is not a trustee at Tata Trusts. As for its governance rules, the group did away with the earlier system of the same person holding the chairmanship of both Tata Sons and Tata Trusts some years ago in order to keep an arm's-length relationship between the two entities. Ratan Tata was the last one to chair Tata Trusts while also heading Tata Sons. With the listing of Tata Sons getting so much attention, all eyes will be on Bombay House in the countdown to September. While legacy, corporate governance, and ownership structure will continue to dominate the narrative around the listing of a conglomerate, how will Tata Sons react to it all in the weeks and months to come, irrespective of the RBI stand on the matter? As for Tata Trusts, it was set up with the objective of charity and philanthropy more than 100 years ago. One of the biggest in the Tata Trusts universe, Sir Ratan Tata Trust, was established in 1919 and went on to become one of the oldest philanthropic institutions in India — changing the traditional ideas of charity. Shouldn't that remain Tata Trusts' core calling rather than controlling a business empire? Nivedita Mookerji @nivmook is the Executive Editor of Business Standard. Views are personal.
