Top headlines: Chairman rules out Tata Sons’ revamp; telcos get govt relief

Facebook
Twitter
Pinterest
WhatsApp




Ratan Tata, Chandrasekaran deny reports of leadership changes at Tata Sons


Patriarch of the Tata Group, Ratan Tata and Tata Sons chairman, N Chandrasekaran have denied today that there is any change at the top leadership at Tata Sons, the holding company of Tata Group.





“I am extremely disappointed with the recent media reports regarding a major revamp in the Tata group’s organisation framework through a speculative company wise restructure with me seen to be critical to implementing this change. Such speculation can only serve to cause disruption amongst a team that has been operating smoothly with impressive growth in market value”, said Tata in a statement today. Read more


Govt to sell up to 10% stake in Hind Copper via OFS, may garner Rs 1,120 cr


The government will sell up to 10 per cent stake in Hindustan Copper through an offer for sale (OFS) in a move that would help the exchequer garner about Rs 1,120 crore in divestment receipts.


The government will sell 5 per cent or 48.3 million shares in the copper miner at Rs 116 apiece on Thursday and Friday. Read more


Cabinet approves 4-year moratorium on payment of all govt dues by telcos


In big bang reforms, the Union Cabinet on Wednesday approved a relief package for the telecom sector that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100% foreign investment through the automatic route.


Briefing reporters on the decisions taken by the Cabinet, Telecom Minister Ashwini Vaishnaw said nine structural reforms for the telecom sector were approved. Read more


TCS m-cap tops $200 bn, shares hit lifetime high of Rs 3,980 intra-day


Tata Consultancy Services (TCS) topped the $200-billion market capitalisation mark on Wednesday as the stock extended this year’s winning run.


Shares of TCS logged a new lifetime high of Rs 3,980 before settling at Rs 3,955, up 1.8 per cent over previous day’s close. Shares of the company are up 35 per cent this year amid a sharp rally in IT stocks. At the closing price, the Tata group flagship had a market cap of Rs 14.63 trillion ($199.2 billion). Read more

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Facebook
Twitter
Pinterest
WhatsApp
news editor logo
NEWS EDITOR
Breaking News Exchange is mainly to inform the public about events that are around them and may affect them. Often news is for entertainment purposes too; to provide a distraction of information about other places people are unable to get to or have little influence over. News can make people feel connected too.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

568FansLike
604FollowersFollow
146SubscribersSubscribe
- Advertisement -

Latest Articles