The proposed demerger of passenger vehicle (PV) and commercial vehicle (CV) businesses would help secure synergy among electric vehicles (EVs), autonomous vehicles and vehicle software, Tata Motors chairman N Chandrasekaran told shareholders at the company's 79th annual general meeting (AGM) on Monday.
The company would continue to focus on "financial strength" and enhancing customer experience through differentiated strategies, he said.
Chandrasekaran told shareholders in the virtual AGM that the demerger would enable sharper execution of their well-differentiated strategies and further empower each business to pursue it purposefully with greater agility and accountability.
The Board has proposed the demerger of the company into two separate listed firms housing the CV business and its related investments in one entity and the PV business, including EV, JLR and related investments, in another entity. "This will lead each company to deliver a superior experience for customers, better growth prospects for employees and enhanced value for shareholders," Chandrasekaran said.
This story is from the June 25, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 25, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How US Elections Could Affect India
Anticipate new and varied challenges depending on the outcome
Education sector needs to prepare for AI-driven future
The second of a three-part series reports on how educational institutes are addressing skill shortage in artificial intelligence
Travel bookings soar as fans rush for Coldplay, Diljit concerts
Upcoming concerts of British band Coldplay in Mumbai and Indian singer Diljit Dosanjh in Chandigarh and other cities have triggered a travel rush by fans, leading to over 300 per cent surge in flight bookings, online travel agency ixigo said in a report on Wednesday.
TROUBLE IN PARADISE
Tafe and AGCO have been allies for 64 years. Tafe is the single largest shareholder in AGCO and AGCO holds nearly 21% in Tafe. Why are they suddenly fighting over Massey Ferguson?
Yellow metal set to become even pricier
Flare-up in West Asia, US elections, further rate cuts by Fed may keep fuelling bullish trend: Experts
F&O volumes hit new highs in Sep
Derivatives turnover reached record high of ₹537 trillion in September
S&P 500, Nasdaq hit 2-week lows
The benchmark S&P 500 and the Nasdaq traded near two-week lows on Wednesday as investors priced in a possible escalation in geopolitical tensions in the West Asia while a survey allayed worries about a rapid cooldown in the US labor market.
Valuation upgrades likely for PowerGrid
Power Minister Manohar Lal Khattar recently stated that the National Electricity Plan (NEP) 2023-32 for central and state transmission systems estimates a total transmission capital expenditure (capex) requirement of $110 billion (₹9.15 trillion) towards grid expansion. This is to support rising renewable penetration, green hydrogen and pumped storage capacity addition along with surging peak demand.
Chris Wood trims exposure to Indian equities by 1 point
Global head of equity strategy at Jefferies, Christopher Wood, has cut his exposure to Indian equities by one percentage point in the Asia-Pacific ex-Japan relative-return portfolio, and Australia and Malaysia by half a percentage point each in favour of China, which has seen a hike in exposure by two percentage points
Sebi's six-step plan may shake up F&O volumes
Brokers warn of possible 30-40% decline in turnover
