Abhishek Securities

Tata Sons has shortlisted candidates for the group chief finance officer (CFO)’s position. The board has been without a finance director in the executive role after Ishaat Hussain became a non-executive director in September at the age of 65. “The shortlisted candidates are not from the group but from outside,” said a source. “The new chief finance officer will have broader responsibility to oversee the group’s mergers and acquisitions,” the person. Earlier, Arunkumar Gandhi was the chief deal maker for the group. He retired last year. “These matters are internal to the company. As and when we have an announcement to make, we will inform you,” said a Tata Group spokesperson.

Even as there is talk of UK telecom giant Vodafone buying out Tata Teleservices (TTSL), the Tata group's holding company Tata Sons  pumped close to Rs 2,400 crore  into it last week by way of convertible preference shares.  The move is aimed at infusing liquidity into the telecom arm, whose capital has been completely eroded.  Tata Teleservices has an equity capital of Rs 4,712 crore as  against accumulated losses  of Rs 6,575 crore for the year ending March 2013. In fiscal year 2012/13, the company reported a turnover of Rs 10,859 crore with a net loss of Rs 4,858 crore.  Banking sources say the additional capital from the promoters was necessary to get any further debt funding from the banks.  But the additional funding from majority shareholder Tata Sons which  holds 36.17 per cent in TTSL, has come with a rider. "The conversion of preference capital into equity will take place before the 24 month maturity period if there is a merger of T...

CRISIL Ratings has assigned a stable outlook to Tata Sons' Rs 630-crore non-convertible debenture (NCD) issue, said the media report. It also maintained the 'outstanding' rating on the company's debt programmes and bank facilities at 'CRISIL AAA/FAAA/Stable/CRISIL A1+.' The stable outlook for the NCDs reflected Tata Sons' financial flexibility as the principal holding company of the Tata group, the agency said in a release. "CRISIL believes Tata Sons' business risk profile will be increasingly dependent on the success of its investments, which carry risks associated with implementation and integration," it said. The rating agency may revise its outlook to 'negative' if Tata Sons' financial flexibility is adversely affected, especially in case of larger-than-expected investments, added the media report. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For la...

The Reserve Bank of India  today said that Tata Sons  has withdrawn its application  for a new bank licence. After Videocon, Tata Group is the second conglomerate to withdraw its application. Tata Sons has indicated that its current financial services operating model best supports the needs of the Tata Group’s domestic and overseas strategy, and provides adequate operating flexibility to its companies, while securing the interests of the Group’s diverse stakeholder base. Given Tata’s track record and the fact that people would ideally trust their money with such a large conglomerate, it is surprising that the Tata Group is exiting the race for a banking licence. Capital coming in from large corporates was seen as a positive for the sector. But now with such a large conglomerate exiting from the race, the shape of banking reforms is changing, said Ashwin Parikh of E&Y  in an interview with CNBC- TV18. Moreover, unlike many countries, permission for setting u...

 A detailed audit by the  Comptroller and Auditor General of India  of some major trusts run by business houses and sports bodies has allegedly revealed misuse of income tax  exemptions granted to them. Among them are at least two Tata trusts and a number of state cricket associations.  According to the CAG,  Jamsetji Tata Trust  and  Navajbai Ratan Tata Trust  together invested over Rs 3,000 crore in 'prohibitive modes', meaning  investments  that cannot be accepted as charitable in nature.  In the wake of the CAG audit, the government has initiated steps to recover over Rs 1,000 crore from the two trusts.  Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Tata Realty and Infrastructure Ltd, a hundred percent subsidiary of Tata Sons Ltd, one of India's largest and most respected conglomerates, marks it foray into Punjab with the launch of 'Trilium', in Amritsar early next month. 'Trilium' is poised to be the largest and finest retail destination in Punjab and its launch will fortify Amritsar's position on the Indian retail map. Spread over a land area of 5.54 acres, this 700,000 square feet retail mall will offer an experience beyond shopping, dining and entertainment to shopping aficionados, food connoisseurs and mall goers in Punjab. Developed by one the leading architectural firm - RTKL, USA, 'Trilium' will be one of the few Indian malls that is LEED compliant and earthquake resistant. Best-in-class technological and design elements have been used in construction operations and management, creating an exclusive feel and convenience for custome...

Nitin Nohria, dean and George F Baker Professor of Business Administration at Harvard Business School, has been appointed non-executive director of Tata Sons. The Tata Sons board now comprises Chairman Cyrus Mistry, Farrokh K Kavrana, R Gopalakrishnan, Ishaat Hussain, Vijay Singh and Nohria. Earlier, Nohria served as co-chair of the Harvard Business School leadership initiative, senior associate dean of faculty development and head of the organisational behaviour unit of Harvard Business School. A doctorate in management from the Sloan School of Management, Massachusetts Institute of Technology, he holds a BTech degree in chemical engineering from Indian Institute of Technology-Bombay (which honoured him as a distinguished alumnus in 2007). He was a visiting faculty member at the London Business School in 1996. He has served as advisor and consultant to several companies across the world. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies w...

Merger talks between Tata Teleservices and Russia's Sistema have advanced substantially, with negotiations centered on a deal that transfers NTT DoCoMo's stake as well as part of the Tata Group's holding to Sistema, giving it a substantial shareholding. The two companies have appointed bankers Rothschild for Sistema, which operates under the MTS brand, and Standard Chartered Bank for the Tata Group. Japan's NTT DoCoMo had bought 26% stake in Tata Teleservices in November 2008 for around 13,000 crore, valuing the company at over Rs 50,000 crore (over $8 billion).

Low cost carrier AirAsia plans to start its India operations in September with two aircraft. AirAsia India, a joint venture between AirAsia, Tata Sons and Telstra Tradeplace, kicked off the hiring process for cabin crew at Chennai today. The airline plans to hire about 100 cabin crew. AirAsia’s COO Bo Lingam, who is leading a 14-member team in Chennai to hire candidates, said, “The way things are going, it looks like in September we will be launching our operations, provided we get all the regulatory approvals.” He added that there is scope for more airlines to enter the aviation industry, considering the population is high. The airline’s promoter Tony Fernandes is expected to visit India in June, added Lingam. It may be noted that AirAsia is the first overseas airline to form a joint venture in India after the government changed the foreign direct investment policy to attract foreign participation. The airline, which started walk-in interview at 9 AM today, screene...

IT major Tata Consultancy Services (TCS) today said one of its promoter has released 1.7 crore pledged shares of the firm. In a filing to the BSE , TCS said its promoter Tata Sons Ltd released a total of 1,73,50,000 shares of the company on April 8 and April 12. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit : www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com For more info and regular updates about unlisted shares and the stock market : Follow our blog :  www.abhisheksecurities.blogspot.in  . Visit :  www.abhisheksecurities.com  . Like us on facebook :  www.facebook.com/abhisheksecurities1  

Determined to ensure its on-going $1.9 billion fertiliser plant in Edo state is of world-class standard, the Dangote Group has appointed TATA Consulting Engineering as its management consultants for the project. The appointment of TATA came after the Pan-African Conglomerate signed the contract for the construction of the largest fertiliser plant in Africa with Saipem. President of Dangote Group, Aliko Dangote, while speaking on the partnership deal, said his company was poised to putting a place a global standard fertiliser plant which will help revolutionise agriculture in the country and Africa as a whole, adding that this informed his choice of renowned partners in the construction of the plant. According to him, the plant with a production capacity of 2,200 metric tonnes per day (MTPD) of Ammonia and 7,700 MTPD of granulated Urea (two 3,850 MTPD-capacity trains), will be the largest fertiliser plant in Nigeria, Africa. “Our ultimate goal is to build a worl...

Tata Power BSE 2.28 % is scouting for partners to pursue opportunities in the area of fuel cell technologies, as part of efforts to strengthen its presence in clean energy space. Fuel cells run on variety of fuels such as hydrogen, methanol and ethanol, and are also seen as a replacement for diesel generator sets. Tata Power, which has an installed generation capacity of about 8,500 MW, including 852 MW from renewable energy sources, said it is actively looking for fuel cell technology partners to pursue opportunities in the Indian market. " Tata Power is working on putting together a workable business model in place to seek technology partners for fuel cells," it said in a statement. These cells are considered as highly efficient and a good source of clean energy. According to the company, using hydrogen directly for fuel cells is a challenge since it involves cost and safety issues, among others. Besides, the company is evaluating new technology for f...

Tata Capital, the financial services provider from Tata Sons, is currently on the lookout for a media agency. The process began a couple of weeks ago and is taking place in Mumbai. The Lintas Media Group has handled the media duties for the brand since 2008. Leo Burnett is the creative agency on the account. The agency's latest work for the house loans arm of the company includes the print campaign, 'Kyunki yaadein ghar nahin badla karti', launched in December, 2012. Earlier, the company released a campaign in 2011, which conveyed the message that with Tata Capital's Home Loans, one can begin to feel the joy of owning a home. Another campaign for the brand came out in December, 2011, which asserted that 'We only do what's right for you' or 'Kare Vahi Jo Aapke Liye Sahi'. Launched in 2007, the brand is considered nascent in the category. The different financial services offered by the company include commercial finance, ...

Air Asia and Tata Group which have proposed to set up a domestic airline along with Arun Bhatia of Telestra Tradeplace, have sought approval for renting and leasing of aircraft, besides carrying of air freight. According to sources, in its application to the FIPB, the partners have also sought permission for engaging in ancillary activities. "Other activities for which they have sought permission include air transport carriers (of freight), cargo handling, renting and leasing of aircraft," a source said. The application for renting and leasing of aircraft, however, does not include financial leasing. The Malaysian budget carrier had sought the government nod to launch a new airline through a joint venture with the Tata Group and Bhatia. Air Asia CEO Tony Fernandes has said that the new airline may take to the sky by this year-end with 3-4 Airbus A-320s, and his company will initially invest around $50 million. An application has already been moved by Ai...

The Tata Group has been increasing its investment in the solar power business. The tea-to-telecom conglomerate recently invested in Zurich-based solar technology developer Flisom, which raised capital for the third time. The group, through Tata Industries , is already a strategic investor in eight-year- old Flisom, which was spun off from the Swiss Federal Institute of Technology. Flisom, which also has other investors, will use the proceeds to set up a 15 MW solar module plant in Switzerland. The Tata Group supports Flisom as it believes that the Swiss company's technology has the potential to make solar electricity affordable. In 2011, the group bought out British oil major BP's 51% stake in Tata BP Solar, a manufacturer of solar modules, and its access to BP's solar technology expires this year. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit : www.abhisheksecur...

The Tata Group on Tuesday signed a memorandum of understanding (MoU) with the U.K. India Business Council (UKIBC) for skill development and delivery in India. A statement from the Tata Group said the MoU will initially include projects in Odisha and Mumbai for replicable skills training across India. The MoU was signed in the presence of David Willetts, Minister for Universities and Science, U.K. “The Tata Group of companies is keen to support the creation of skill development centres that can sit at the heart of sustainable communities in India,’’ Cyrus P. Mistry, Chairman, Tata Sons, said in a statement. “This initiative is designed to support the skill needs of large employers, as well as their supply chain of small and medium enterprises. They will seek to provide best-in-class skills, enterprise, employability and work placement in the country,” he said. In a statement, S. Ramadorai, Advisor to the Prime Minister, in the National Council on Skill Development and Vice-Chai...

Air Asia ,the largest discount carrier in Southeast Asia by fleet size, said Wednesday it plans to partner Tata Sons Limited and Arun Bhatia of Telestra Tradeplace Pvt. Ltd to set up a low-cost airline in India. The proposed joint venture comes after a September decision by the Indian government to open the aviation sector up to direct investment from foreign carriers. The three parties have signed an initial agreement and AirAsia has applied to the government to hold 49% of the proposed Indian joint venture. If the Indian government gives its approval, the proposed joint venture will seek an operational license from the aviation authorities. AirAsia is investing in the joint venture via its investment arm AirAsia Investment Ltd. The joint venture plans to operate from Chennai in the southern state of Tamil Nadu and proposed to link smaller cities to the metropolis. "We have carefully evaluated developments in India over the last few years and strongl...

Smart Value Homes Limited (SVH), the wholly-owned subsidiary of Tata Housing Development Company Limited, is planning to raise $50 million from International Finance Corporation (IFC) to fund the development of affordable housing projects. The company is keen on developing affordable housing projects in other emerging markets, particularly in the SAARC region. Tata Housing, a wholly-owned subsidiary of Tata Sons, ventured into real estate development in 1984. To date, Tata Housing has completed 17 residential and seven commercial projects spread over 3.8 million square feet across the country. Smart Value Homes, headquartered in Mumbai, has seven ongoing projects in the states of Gujarat, Tamil Nadu, Maharashtra and Karnataka. The company plans to sell approximately 50,000 affordable housing units in India over the next five years. IFC is proposing a financial investment of up to $50 million in SVH to partially fund the development of affordable housing units. The s...

Tata Sons, promoter firm of the companies in the Tata conglomerate, today said it has appointed Mukund Rajan -- ex-Managing Director of Tata Teleservices (Maharashtra) Ltd, as the Group Spokesperson and Brand Custodian. He will have the responsibility to oversee and manage all corporate communications and brand related activities for the group in India and abroad, Tata Sons said in a statement. Rajan's is the first major appointment after Cyrus Mistry took over as the Chairman of the group after Ratan Tata retired on December 28, 2012. "Additionally, he (Rajan) will serve as the Chief Ethics Officer of the group and also oversee all Tata group Corporate Social Responsibility (CSR) activities as Chairman of the Tata Council for Community Initiatives (TCCI)," the statement said. His appointment is with immediate effect and in his new role, he will report directly to Mistry, it added. Rajan, 44, has been with the Tata group for over 18 years, after starting...

Nov,2011 : Tata Sons, the holding company of the $83-billion Tata Group, has proposed a bonusissue after 12 years on the back of a robust year when it doubled its profits.  The company is on course to allot five shares for every share held by its shareholders (5:1), expanding its equity base six times. In the last 14 years, this is the third time Tata Sons is rewarding its shareholders through a bonus issue. The previous two, each in the ratio of 1:2, were in 1999 and 1997.  The bonus issue decision by the unlisted Tata Sons board comes at a time when the firm is set to see a change at the helm, with its current chairman Ratan Tata stepping down in December 2012. In addition to the bonus issue, the company is also paying a dividend of Rs 8,000 per share of face value Rs 1,000.  Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of expeirence . For latest prices visit : www.abhisheksecur...