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...

  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...