Tata Sons Chairman N Chandrasekaran was honoured with the Business Icon Of The Year award at the BT Best CEO Awards. Find out what The Chandra Effect has meant for the Tata group, how the conglomerate has grown since Chandrasekran took over and what s next for Tata companies such as Tata Steel, Tata Motors, Air India, super app Tata Neu and more. Check out this Business Today Visual Story to find out all about this and more from N Chandrasekaran s exclusive interview with BT Magazine.
Tata Sons’ Chairman N Chandrasekaran reflected on the future plans of Tata Group as he shared Tata Motors’ plan to launch a new electric vehicle within 6 months, and to revamp Air India within an year. Here are some highlights from his conversation with Business Today Editor Sourav Majumdar at BT MindRush 2023
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TCS buyback: Tata Sons sells shares worth Rs 10,000 crore
Tata Sons Pvt Ltd, the holding company of salt-to-software Tata Group, has raised about Rs 10,000 crore from selling close to 1 per cent holding in Tata Consultancy Services (TCS) in the IT firm s recently concluded share buyback.
Tata Sons tendered 3.33 crore shares in the group s most profitable firm s share buyback plan, according to a company s filing to the stock exchanges.
Post completion of the buyback, where the company will buy shares and extinguish them, Tata Sons will hold 72.16 per cent of TCS.
At the buyback price of Rs 3,000 apiece, Tata Sons share sale amount comes to Rs 9,997 crore.