Tata Communications Ltd said on Wednesday it will delist from the New York Stock Exchange and terminate its American Depositary Receipts (ADR) programme. "Our decision to delist, deregister and terminate our ADR program was the result of several factors, including the fact that our ADR program had not developed the trading volumes we had initially hoped when we listed," Chief Executive Vinod Kumar said in a statement.
Kumar said a rule set by the Indian market regulator for listed companies to have a minimum 25 per cent public shareholding, excluding ADRs, was also a "crucial factor" in the decision.
Money-losing Tata Communications, one of the world's biggest undersea cable network operators, is a former Indian state monopoly, now controlled by the salt-to-software Tata conglomerate.
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05:45 PM, May 15, 2013
Mumbai: Tata Steel Ltd shares fell as much as 2.5 per cent on Tuesday morning after it said it will book a $1.6 billion impairment charge for the financial year ended March 31. The company said it is taking the charge due to weak economic and market conditions in Europe. Tata Steel shares were down more than 2 per cent as of 9:30 am. The steel maker made the announcement...
09:45 AM, May 14, 2013
Jaipur: Soaring petrol prices have forced the Army to look for other options in the SUV variant and it started summer trials of Mahindra Scorpio and Tata Safari in Thar desert in Rajasthan on Monday. The vehicles are being driven by Army drivers to test their endurance, fuel consumption, temperature, cross country drive performance with and without load, power-to-wheel ratio among other factors, Army sources said. Two variants of Mahindra...
10:50 PM, May 13, 2013
New Delhi: The Indian Army has decided to phase-out Maruti Gypsy from its inventory with Mahindra Scorpio and Tata Safari in the race to replace the vehicle under a project expected to cost the force more than Rs 3,000 crore. The Indian Army is the biggest customer of the Maruti Gypsy utility vehicles with more than 25,000 such vehicles in service and uses them in all light vehicle operations including...
12:08 PM, May 11, 2013
These are the first exclusive pictures of the new 2013 Tata Nano and as you can see the effort is to give it that slightly more upmarket look and feel. The Tata Nano was being used for a new ad campaign when Overdrive enthusiast Shubhankar got us these first pics of the unmasked next generation Tata Nano. A chrome strip at the front of the Tata Nano runs between the...
04:33 PM, Apr 29, 2013
London: Steel giant Tata Steel has reportedly warned the British government that it plans to shut down two research and development facilities in the country and shift them overseas including to India, resulting in 300-400 job cuts in the UK. In a move that will be seen as a major blow to Britain's already struggling industrial base, the company plans to close its technology centres on Teesside, in the north-east...
12:36 PM, Apr 29, 2013
Mumbai: Low cost carrier AirAsia on Sunday said that the AirAsia India board has approved and appointed a Chief Executive Officer for the Indian subsidiary. Earlier, an airlines spokesperson had said that the airline had not yet appointed a CEO for AirAsia India. "The board of Airasia India has approved and appointed a Ceo for Airasia India. He will be a revelation. Thrilled to have him on board," AirAsia Group...
11:35 PM, Apr 21, 2013
Mumbai: Tata Consultancy Services (TCS), India's top software services provider, lifted quarterly profit by more than a fifth and painted a more bullish picture for future revenue growth than key rival Infosys. TCS said it expects revenue in the current fiscal year to increase more than the 12-14 per cent sector export growth forecast by the National Association of Software and Services Companies (Nasscom). Infosys Ltd on Friday missed expectations...
09:42 AM, Apr 18, 2013
New Delhi: Tata Teleservices Ltd, India's sixth-biggest cellular carrier by customers, said it will surrender part of its CDMA mobile airwaves in all but two of its zones, after the government asked carriers to pay surcharges on airwaves. Tata Tele, 26 per cent owned by Japan's NTT DoCoMo, said it has informed the telecommunications ministry that it will give up CDMA airwaves beyond 2.5 megahertz in 15 service areas, but...
08:34 AM, Apr 18, 2013
Mumbai: Tata Consultancy Services Ltd, India's top software services provider, matched estimates with a 22 per cent rise in quarterly profit and said it expects to grow revenue faster than a key industry-wide forecast for the year starting this month. Net profit for the fiscal fourth quarter ended March 31 rose to 35.97 billion rupees from 29.46 billion rupees in the year-earlier period, as it won orders from customers including...
05:32 PM, Apr 17, 2013
Mumbai: Shares of IT major Tata Consultancy Services (TCS) on Wednesday fell by nearly 2 per cent ahead of its quarterly results, to be announced later in the day. After falling 3.55 per cent during the day, shares of TCS finally ended at Rs 1,459.20, down 1.73 per cent from the previous close on the BSE. At NSE, the scrip closed at Rs 1,459.85, with a loss of 1.57 per...
04:55 PM, Apr 17, 2013
We have spotted test mules of the upcoming Tata Nano diesel on various occasions but the engine specifications were always speculative. Not anymore though. Well known turbocharger maker Garrett has listed on it's webpage the details of the Nano diesel engine. The diesel Nano will be powered by a 0.8L common rail engine which will produce 40PS of power at 4000rpm and 94Nm of torque at 2500rpm. This 800cc engine...
06:29 PM, Apr 15, 2013
Mumbai: Shares in Tata Consultancy Services rose as much as 2.2 per cent on Tuesday after the company announced it will buy privately-held Alti SA of France for 75 million euros. The acquisition signals Indian software service exporters' interest in diversifying its revenue base, and the acquisition could potentially help increase profits at TCS, analysts said. TCS shares were up 2 per cent as of 12:36 pm. ...
02:55 PM, Apr 09, 2013
New Delhi: After a 27-year-long innings, the Indian Army is bidding goodbye to the iconic Maruti Gypsy - all 30,000 of them in its fleet. The Army is expected to try out new vehicles. Army sources told CNN-IBN that the force plans to replace the Gypsy with more powerful vehicles in the 800 kilogram class. The Gypsy may be replaced by the Tata Safari or Mahindra Scorpio - vehicles meant...
08:59 AM, Apr 05, 2013
Even as AirAsia's plans to launch an airline in India along with the Tata Group is yet to fructify, the Malaysian carrier has announced upto 70 per cent discount on international flights from India. ...
11:20 AM, Apr 02, 2013
Gearing up to launch services in partnership with Tatas, Malaysian low-cost carrier AirAsia has incorporated a company in India with the filing of all requisite documents with the Ministry of Corporate Affairs. The venture, AirAsia (India) Pvt Ltd, was incorporated as an "Indian non-government company" with its registered office in Mumbai. It will be an "unlisted" company, as per the documents filed with the Registrar of Companies (RoC). ...
12:10 PM, Mar 31, 2013
AirAsia Bhd's proposal to set up a joint venture for running a passenger airline with the Tata Group has been approved by India's Foreign Investment Promotion Board (FIPB), a government statement said on Tuesday. ...
02:25 PM, Mar 26, 2013
Leading automobile company Tata Motors will undertake a 11-day shutdown to carry out maintenance of equipments at its Jamshedpur plant from March 27, a senior company official said today. ...
02:23 PM, Mar 26, 2013
Various policy measures initiated by the government for the civil aviation sector have begun to yield results and the airline industry in India is witnessing a revival, union Civil Aviation Minister Ajit Singh said on Sunday. ...
04:15 AM, Mar 18, 2013
Indian representatives on the board and indeed in the airline's senior management. Whether AirAsia Bhd's aircraft can be brought in for operation into India, a measure that would certainly be cheaper for the airline, is still unclear. Though the government has cleared the investment, AirAsia will actually have to lobby for permissions at every step. ...
05:00 PM, Mar 13, 2013
