Abhishek Securities

In a move to consolidate cross-holdings across group firms, Tata Group’s holding firm Tata Sons is set to acquire Tata Steel’s 2.9 per cent stake in Tata Motors. The announcement on Saturday, made through a filing with the stock exchanges, confirms reports that the Tata Group is planning widespread consolidation of holdings.   The issue of cross-holdings has already come up several times, even during the tumultuous few months following the sacking of Cyrus Mistry from the group’s top post. In November, a group of foreign institutional investors wrote to Tata Steels’ board raising concerns about its cross-holdings in other Tata firms. According to the filing, Tata Sons will buy around 83.6 million shares in Tata Motors at or around the prevailing price of the stock on the date of the planned acquisition, it said, citing “restructuring of investment portfolio” as the reason for the planned deal. As per details available, Tata Sons owned 29.75 per cent of Tata Steel at the e...

   Tata Technologies Ltd plans to acquire companies to expand its defence footprint over the coming four years, a top executive said. “In the last six years our compound annual growth rate is 16%,” Tata Technologies CEO Warren Harris said in an interview to Washington-based DefenseNews.com. “We fully expect to be able to maintain that organically. Our trajectory over the next four years organically sees us going to $800 million, so we see about $200 million in revenue that will come in from acquisitions.” Tata Technologies is part of the $100 billion Tata Group.  Harris said that Tata Technologies’ business is about 70% automotive, 11% aerospace, and 12 % industrial heavy machinery. Harris wants to see aerospace grow at a much higher rate than automotive in order to maintain a balanced portfolio. Under the government led by Prime Minister Narendra Modi,- India has moved swiftly to seal defence contracts. India’s high defence spending, along with the government’s ‘M...

Tata Motors is not planning to list its engineering solutions and IT product developing subsidiary Tata Technologies. Tata Technologies IPO could have been a huge value unlocking trigger for Tata Motors. Speaking at the automaker’s annual general meeting, Chairman Cyrus Mistry answered to a query from a shareholder while adding that the focus currently is on turning around Tata Motors’ operations. Tata Motors owns 70.4% equity stake in Tata Technologies. We have no immediate plans for an initial public offer (IPO) for Tata Technologies. However, we will explore various options in the future – Cyrus Mistry, Chairman, Tata Motors Mistry also made clear that there are no plans to list the defense business. The Chairman said the flagship company’s business is going to increase in volatility. “We are all becoming used to unpredictable and dynamic market environments, learning to manage by anticipating customer needs, leveraging strong processes and building competitive product...

MUMBAI: The Tata Group has revived plans to list Tata Technologies, an engineering solutions and IT product developing arm of Tata Motors, on the local bourses. The company is planning to raise Rs 1,400 crore through an initial public offering (IPO), said two people with direct knowledge of the plan. The proposed share sale will be the first IPO from the Tata Group in 12 years after TCS in July 2004.  An email query sent to the company and Tata Motors did not elicit any response till the time of going to press.  Tata Motors holds 70.43 per cent stake in Tata Technologies, while Alpha TC, a wholly-owned subsidiary of the partnership sponsored by Mizuho Securities and other international investors, owns 8.71 per cent in the company.   Other investors in the company include Tata Capital, Barclays Wealth Corporate Services, Sheba Properties, Tata Entertainment Overseas  and Walbrook Nominees, which own between 1 per cent and 5 per cent each.  Tata Technologies...

Tata is one of the largest companies in India and stretches into just about every industry … cars, heavy trucks, metal supply, technology, consulting … even cell service, to name a few. From the looks of it, Tata is interested in stretching its wings (and the business) into the US, as subsidiary Tata Technologies has announced the opening of a new “innovation lab” in the renowned tech hub Silicon Valley in Northern California. Silicon Valley has been a hub for innovation on the ‘net and in technology for the last ~30 years or more, and over the last few years, has become a hub for integrating that technology into cars with Tesla, Ford, BMW, Mercedes, VW, Nissan, and others having local offices there with similar goals of harnessing the technological innovation of the Valley for integration into vehicles. Technology in cars used to be as simple as the standalone infotainment system, which, over time, evolved into GPS and navigation, then into the actual brains of the car,...

Tata Technologies has announced that it has setup its new Innovation Center in Troy, Michigan. The centre will leverage the local R&D talent pool to provide design and consulting services for automotive companies globally.  The 10,000 square feet facility will initially staff 60 engineering professionals and the company plans to increase the headcount to 100 by end of this year (December 2013). This compliments the Novi, Michigan NA headquarters and brings the total NA employee strength to 700+. The new Engineering and Innovation Center will be the North American home to the Tata Technologies Vehicle Programs Development (VPD) Group, headed by Mr. Kevin Fisher, President – VPD. The VPD Group is responsible for the development of the landmark eMO (Electric Mobility) EV study released at the 2012 North American International Auto Show in Detroit. The VPD Group currently supports automotive OEMs worldwide from its CoEs in Detroit, Coventry (UK), Pune (India), a...

Tata Technologies, a worldwide leader in Engineering Services Outsourcing (ESO), Enterprise Solutions, and Product Lifecycle Management (PLM) has received three awards by Dassault Systèmes, the 3DEXPERIENCE company, at their 2013 Value Solutions indirect sales channel Kick off, held between 23rd and 25th January, 2013 in Puducherry. Moreover, 3DVIA contest winners were announced where Tata Technologies PS team members were felicitated. The awards won by Tata Technologies are as follows: 1. Sales Achievement Award for Revenue Growth in FY-13 2. V6 Certification Award for 31 Certifications done; highest in India 3. Best Deal of the Year Award Wishwas Julka, Vice President, Global Tata Group & Asia Pacific on receiving the awards said, “We are honoured to receive these awards. They are a testimony of the team’s relentless effort and commitment towards Dassault Systèmes product portfolio and Tata Technologies strategic direction and growth objectives, including the...

Pune-based Tata Technologies, engineering services and product development IT company has been chosen by Michelin to display its electric mobility (eMO) engineering study EV at North American International Auto Show (NAIAS) in Detroit. The electric vehicle will be a part of Michelin Challenge Design display at the event. The company's Vehicle Programs and Development (VPD) group, with more than 300 engineers operating from Pune followed by its three automotive engineering centers in Detroit, Coventry (UK), and Stuttgart (Germany) had the responsibility of developing the eMO. "The eMO project symbolizes the coming of age of Indian automotive engineering. It is a tangible example of the capability of Tata Technologies to engineer a full vehicle – a first for any India-based engineering services company," said Warren Harris, president and global COO, Tata Technologies . He added, "Since we are an India-based company, Tata Technologies is intimately familiar with...

  Engineering and design services provider Tata Technologies on Thursday said the company is targeting a turnover of around Rs 5,400 crore over the next three years from the present Rs 650 crore. The company that has domain expertise in engineering services, said there are lots of opportunities in the coming years, though the market is small for such businesses right now. “We have a target of achieving $1 billion (around Rs 5,400 crore) by financial year 2017 and also grow our employees by around three fold to 20,000 people from 6,000 employees right now,” Samir Yajnik, President Global Services and Chief Operating Officer – Asia-Pacific, Tata Technologies, told Business Line. He said India would be an exciting market for companies like Tata Technologies in the future because the market is growing in the automotive, aero space and industry machineries where it has its focus on. Apart from serving these three industries in India, he said the company is also looking at c...

  Tata Technologies, the design engineering company with focus on aerospace, automotive and industrial segments, is strongly considering entering the Chinese market soon. “We are exploring getting into China not only because of that country itself but because of the presence of our key customers there,” Samir Yajnik, president, global services and chief operating officer (Asia Pacific), Tata Technologies, said in an interaction with FE. The Tata Technologies official emphasised that it would be difficult for them to crack the China market on their own but their global customers will be a boon. The company has already undertaken certain market studies in this regard. Tata Technologies provides services in the area of engineering services outsourcing, product lifecycle management and engineering design. The company, which was formed in 1989, has presence in US, Europe and India. “We have now built end-to-end capabilities in the segments we operate, ranging from design to p...

Tata Technologies today said it has won a multi-year engineering services contract from Italian aircraft maker Piaggio Aero Industries. Tata Technologies will deliver a complete structural design and analysis solution for the aviation major’s new Multirole Patrol Aircraft (MPA) and its first test flight will be conducted next year, company’s President Global Services and COO Asia-Pacific, Samir Yajnik said here. Tata HAL Technologies Ltd, a joint venture between Tata Technologies and HAL, will deliver on the prestigious engagement, Yajnik said on the sidelines of Aero India 2013. “This is one of the first of its kind engineering services engagement in the private aerospace sector in India,” he said. Tata HAL Technologies will deliver a complete optimised structural design, engineering, manufacturing, and certification documents for the aircraft fuselage inclusive of the vertical fin in two separate phases, Yajnik said. Piaggio Aero’s Multirole Patrol Aircraft (MPA) is the...