TATACOMM

Aug 25 (Reuters) - Tata Communications Ltd TATA.NS:

• ISSUES 7 BILLION RUPEES COMMERCIAL PAPER

Source text: ID:nBSE7gHWF9

Further company coverage: TATA.NS

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Repeats story first published late Monday afternoon

By Wen-Yee Lee

TAIPEI, Aug 18 (Reuters) - Taiwan's Foxconn 2317.TW, which rose to become a global tech manufacturing juggernaut by assembling millions of iPhones, can now say its main business is no longer Apple AAPL.O as it takes advantage of the AI-boom to diversify its income.

Its revenue from making AI servers and other cloud and networking products, including for major customer Nvidia NVDA.O, surpassed smart consumer products such as iPhones for the first time in the second quarter, marking the culmination of a shift that began years ago and has swept through Taiwan’s tech industry.

Foxconn's heavy reliance on the smartphone business has long been viewed by investors as a significant risk, as demand growth for new iPhones has gradually weakened since they were first introduced nearly two decades ago, leaving the top iPhone assembler grappling with slowing sales momentum, analysts said.

Wary of the risk, Foxconn Chairman Young Liu has been championing new businesses such as AI servers, electric vehicles and semiconductors since taking the top job in 2019.

While its expansion into EVs and chips has yet to show a meaningful contribution to its topline, Foxconn's success in AI server manufacturing - the company is Nvidia's biggest server maker - is the result of its early bets before the technology was thrust into the limelight with the advent of ChatGPT in late 2022.

Consumer electronics accounted for 35% of Foxconn's total revenue in the second quarter, while cloud and networking business represented 41%. In 2021, consumer electronics represented 54% of its revenue.

The firm's prudent wagers years back helped it cultivate a now-prized relationship with the U.S. AI chip firm and other major AI players, analysts said.

"The company has been in the business for years, meeting higher quality requirements, diversifying assembly and operations across sites, and pursuing vertical integration,” said Ming-Chi Kuo, an analyst at TF International Securities.

Foxconn began producing reference designs for Nvidia’s graphics cards around 2002 and started making general-purpose servers for cloud service providers’ data centres as early as around 2009. Its AI server business with Nvidia is in many ways the culmination of that history, analysts said.

Foxconn says it is now one of the world’s largest suppliers of both general-purpose and AI servers, with a market share of nearly 40% in each.

The company has also shown a willingness to commit investment to a project at an earlier stage than other companies, Kuo said, citing its past investments for Apple and similar moves for Nvidia. “In long-term partnerships, Foxconn is more willing to take the initiative,” he said.

Foxconn's plan to build factories in Houston, Texas — part of Nvidia’s $500 billion U.S. investment plan — and in Mexico to produce AI servers for the U.S. client underscores this strategy, analysts said.

Foxconn now expects its AI server revenue would grow more than 170% in the third quarter year-on-year.

Foxconn and Nvidia declined to comment. Apple did not respond to request for comment.

BROADER SHIFT

The shift at Foxconn mirrors a broader trend in Taiwan’s technology sector, where companies once centred on consumer electronics — such as Foxconn with iPhones, and Quanta Computer 2382.TW and Wistron Corp 3231.TW with notebooks — are now investing heavily in AI servers.

Nvidia partner Wistron’s revenue for January to July rose 92.7%, while Quanta’s grew 65.6% in the same period.

"The monthly sales jump for Taiwan ODMs in the first half of 2025 is evidence of this trend,” said Robert Cheng, head of Asia technology hardware research at BofA Global Research, referring to original design manufacturers like Foxconn that contract manufacture products for their clients.

Their fast transition into AI servers is also the result of Taiwanese tech supply chain working closely with U.S. tech giants on data centre infrastructure work for a decade now, according to Chris Wei, industry consultant at Taiwan’s Market Intelligence & Consulting Institute.

He estimates Taiwan accounts for about 80% of global server shipments and more than 90% of AI servers.

Cheng agrees.

"We think this shift toward AI servers, whatever form it takes, is good for Taiwan’s tech industry," he said, noting Taiwanese firms' ability to rapidly shift to cater to changing needs from their customers.

(Reporting by Wen-Yee Lee; Editing by Miyoung Kim and Shri Navaratnam)

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MUMBAI, Aug 6 (Reuters) - India's Tata Communications TATA.NS accepted bids worth 10 billion rupees ($114.02 million) for bonds maturing in three years, three bankers said on Wednesday.

The company will pay an annual coupon of 6.77% on this issue, and had invited commitment bids for the issue earlier in the day, they said.

On July 24, Reuters reported that the company is looking to make a comeback after a gap of two years with a three-year bond issue.

The company did not respond to a Reuters request for comment.

Here is the list of deals reported so far on August 6:

*Size includes base plus greenshoe for some issues

($1 = 87.7020 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Janane Venkatraman)

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MUMBAI, Aug 5 (Reuters) - India's Tata Communications TATA.NS plans to raise 10 billion rupees ($113.90 million) through the sale of bonds maturing in three years, three bankers said on Tuesday.

The company will pay an annual coupon of 6.77% on this issue, and has invited commitment bids for the issue on Wednesday, they said.

On July 24, Reuters had reported that the company is looking to make a comeback after a gap of two years with a three-year bond issue.

The company did not respond to a Reuters request for comment.

Here is the list of deals reported so far on August 5:

*Size includes base plus greenshoe for some issues.

($1 = 87.7990 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

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By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, July 24 (Reuters) - Two firms of Indian conglomerate Tata Group are planning to raise around 20 billion rupees ($231.5 million) through the sale of bonds over the next few days, three bankers said this week.

Tata Power Renewable Energy, a subsidiary of Tata Power TTPW.NS, is likely to raise around 10 billion rupees through the sale of 10-year bonds, while Tata Communications TATA.NS could raise a similar amount through three-year notes, the bankers said.

The bankers requested anonymity as they are not authorised to speak to media.

The companies did not respond to a Reuters email seeking comment.

"Mutual funds would be buying the Tata Communications issue in most cases, while insurers are expected to line up for the renewable energy company issue," one of the bankers said.

Tata Communications would be tapping the corporate debt market after a gap of nearly two years and is in talks with foreign banks to manage the issue. Its notes are rated AAA by CARE Ratings.

In August 2023, the company raised 17.50 billion rupees through three-year bonds at an annual coupon of 7.75%.

The pricing for the planned issue should be around 100 basis points cheaper, two of three bankers said.

Meanwhile, Tata Power Renewable would be tapping the market for the second time this financial year. It raised 10 billion rupees through 15-year bonds at a coupon of 7.55% in April.

Tata Power Renewable's notes are rated AA+ by rating agencies. The firm has 53 billion rupees worth of bonds outstanding.

($1 = 86.3920 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

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July 22 (Reuters) - Tata Communications Ltd TATA.NS:

• CO AND AWS TO ENABLE AI NETWORK IN INDIA

• COLLABORATION TO ESTABLISH HIGH-CAPACITY NETWORK CONNECTING AWS LOCATIONS

Source text: ID:nBSE7CWK2H

Further company coverage: TATA.NS

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** Tata Communications TATA.NS rises 3.8% to 1,797 rupees

** CLSA maintains "outperform"; keeps PT at 2,100 rupees, citing strong digital services growth and stable EBITDA margins

** Expects 10%–15% CAGR in data revenue, consolidated EBITDA by FY28, led by digital services

** Macquarie maintains "outperform", citing benefits from global data consumption, enterprise cloud migration, data localisation

** Says execution risks remain, but transformation into digital-first company seen as a long-term driver

** Telecom and digital services provider posts 6.4% y/y rise in Q1 consol income

** Stock rated "buy" on average; median PT is 2,000 rupees, per data compiled by LSEG

** TATA gains 5.4% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

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July 17 (Reuters) - Tata Communications Ltd TATA.NS:

• Q1 CONSOL NET PROFIT 1.9 BILLION RUPEES

• Q1 CONSOL INCOME FROM OPERATIONS 59.6 BILLION RUPEES

• TO RAISE OF FUNDS VIA NCDS ON PRIVATE PLACEMENT BASIS, UP TO 10 BILLION RUPEES

• TO ACQUIRE UNIT SOLUTIONS INFINI TECHNOLOGIES (INDIA) FOR 1.24 BLN RUPEES

Source text: [ID:]

Further company coverage: TATA.NS

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** India's Tata Communications TATA.NS jumps ~4.7% to more than six-month high of 1,807.50 rupees

** Stock rises for seventh consecutive session

** Macquarie Equity Research initiates coverage with "outperform" rating, PT of 2,300 rupees

** Says Co's improved breadth of offerings yielding larger and longer-term deal wins

** "We see a bull-case path for the shares to double over three years," brokerage says

** Adds that TATA's superior positioning and optionality warrants premium multiple over Bharti Airtel's BRTI.NS enterprise division

** More than 3.5 million shares traded on the day, ~8x six-month average volume

(Reporting by Vivek Kumar M)

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By Aditya Kalra and Munsif Vengattil

NEW DELHI, June 13 (Reuters) - Nearly all the iPhones exported by Foxconn from India went to the United States between March and May, customs data showed, far above the 2024 average of 50% and a clear sign of Apple's efforts to bypass high U.S. tariffs imposed on China.

The numbers, being reported by Reuters for the first time, show Apple has realigned its India exports to almost exclusively serve the U.S. market, when previously the devices were more widely distributed to countries including the Netherlands, the Czech Republic and Britain.

During March-May, Foxconn exported iPhones worth $3.2 billion from India, with an average 97% shipped to the United States, compared to a 2024 average of 50.3%, according to commercially available customs data seen by Reuters.

India iPhone shipments by Foxconn to the United States in May 2025 were worth nearly $1 billion, the second-highest ever after the record $1.3 billion worth of devices shipped in March, the data showed.

Apple and Foxconn did not respond to Reuters requests for comment.

U.S. President Donald Trump on Wednesday said China will face 55% tariffs after the two countries agreed on a plan, subject to both leaders' approval, to ease levies that had reached triple digits.

India is subject, like most U.S trading partners, to a baseline 10% tariff and is trying to negotiate an agreement to avert a 26% "reciprocal" levy that Trump announced and then paused in April.

Apple's increased production in India drew a strong rebuke from Trump in May. "We are not interested in you building in India, India can take care of themselves, they are doing very well, we want you to build here," Trump recalled telling CEO Tim Cook.

In the first five months of this year, Foxconn has already sent iPhones worth $4.4 billion to the U.S. from India, compared to $3.7 billion in the whole of 2024.

Apple has been taking steps to speed up production from India to bypass tariffs, which would make phones shipped from China to the U.S. much more expensive. In March, it chartered planes to transport iPhone 13, 14, 16 and 16e models worth roughly $2 billion to the United States.

Apple has also lobbied Indian airport authorities to cut the time needed to clear customs at Chennai airport in the southern state of Tamil Nadu from 30 hours to six hours, Reuters has reported. The airport is a key hub for iPhone exports.

"We expect made-in-India iPhones to account for 25% to 30% of global iPhone shipments in 2025, as compared to 18% in 2024," said Prachir Singh, senior analyst at Counterpoint Research.

Tata Electronics, the other smaller Apple iPhone supplier in India, on average shipped nearly 86% of its iPhone production to the U.S. during March and April, customs data showed. Its May data was not available.

The company, part of India's Tata Group, started exporting iPhones only in July 2024, and only 52% of its shipments went to U.S. during 2024, the data showed.

Tata declined to comment on the numbers.

Indian Prime Minister Narendra Modi has in recent years promoted India as a smartphone manufacturing hub, but high duties on importing mobile phone components compared to many other countries means it is still expensive to produce the devices in India.

Apple has historically sold more than 60 million iPhones in the U.S. each year, with roughly 80% made in China.

(Reporting by Aditya Kalra and Munsif Vengattil; Editing by Kate Mayberry)

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April 22 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS Q4 CONSOL NET PROFIT 10.40 BILLION RUPEES

• TATA COMMUNICATIONS Q4 CONSOL INCOME FROM OPERATIONS 59.90 BILLION RUPEES

• TATA COMMUNICATIONS LTD - DIVIDEND OF 25 RUPEES PER SHARE

Source text: ID:nBSE4RgXs2

Further company coverage: TATA.NS

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April 2 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS LTD - TC NETHERLANDS APPROVES SHARE REPURCHASE OF €16,718,000

• TATA COMMUNICATIONS LTD - TC NETHERLANDS TO TRANSFER $88,774,518 TO TC SINGAPORE

Source text: ID:nBSEbtpPWt

Further company coverage: TATA.NS

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March 20 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS - LAUNCHES TATA COMMUNICATIONS VAYU

Source text: ID:nBSE5Km5ZL

Further company coverage: TATA.NS

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** Tata Communications TATA.NS rises 5% to one-month high of 1,577.75 rupees

** JM Financial initiates with "buy", PT of 2,030 rupees

** Says co gradually transforming into communication tech player by expanding digital portfolio, integrating connectivity with digital services and offering customised and high-value solutions

** Expects data segment EBITDA to grow at compounded rate of 21% over FY24-FY28

** More than 750,000 shares traded, ~2x the six-month avg

** Stock rated "hold" on avg; median PT 1,850 rupees - per data compiled by LSEG

** ICICI Securities double upgraded TATA to "buy" last week on compelling risk-reward after recent drop

** Stock up 17% so far in March, trimming YTD losses to 7%

(Reporting by Vivek Kumar M)

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March 14 (Reuters) - Tata Communications Ltd TATA.NS:

• APPOINTED N. GANAPATHY SUBRAMANIAM AS CHAIRMAN OF BOARD

Source text: ID:nBSE4zfK4s

Further company coverage: TATA.NS

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** Telecommunication services provider Tata Communications' TATA.NS shares rise 8.3% in biggest one-day gain since July 2022, to 1,488.70 rupees

** ICICI Securities double upgrades stock to "buy" from "hold"; raises PT to 1,840 rupees from 1,690 rupees

** Sees strong pile-up of potential deals for co; previously muted order book shows early signs of growth

** Says with Red Sea cable cut issue now behind and double-digit FY25-YTD order book growth, co's data revenue growth will likely swell

** Adds, co also to benefit from adoption of cloud systems and AI

** Avg rating of six analysts, including ICICI, is a "hold"; their median PT is 1850 rupees - data compiled by LSEG

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of Findi FND.AX rise 14.6% to A$4.96, while the broader benchmark index .AXJO was down 1.8%

** Stock hit highest level since Jan. 21

** The financial technology provider says the Reserve Bank of India approves acquisition of Tata Communications' unit, Tata Communications Payment Solutions or Indicash

** Stock down 8.5% this year as of last close

(Reporting by Sherin Sunny in Bengaluru)

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** Shares of Tata Communications Ltd TATA.NS drop 4.3% to 1,625 rupees

** TATA's Q3 rev. of 57.98 billion rupees and profit of 2.36 billion rupees missed analyst expectations, per data compiled by LSEG

** Analysts had expected rev. of 59.11 billion rupees and profit of 2.36 billion rupees - mean of 3 analysts' expectations per LSEG

** Stock was down 2.8% before reporting results

** About 540,000 shares traded, 1.8x the 30-day avg. volume

** Six analysts tracking stock rate it "hold" on avg - LSEG data

** Stock down 4.4% so far this year

(Reporting by Nandan Mandayam in Bengaluru)

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** Tata Communications TATA.NS rises as much as 4.6% to 1,706.65 rupees

** IT services provider says Jaguar Land Rover Automotive (JLR), owned by Tata Motors TAMO.NS, extends existing partnership with co by using MOVE platform for JLR'S new SUVs

** Adds MOVE will help JLR customers transition between mobile networks and operators for media streaming, software updates

** Stock rated "hold" on avg; median PT is 1,858 rupees - LSEG

** TATA fell 3.8% in 2024

(Reporting by Meenakshi Maidas in Bengaluru)

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Dec 23 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS - ISSUED, ALLOTTED COMMERCIAL PAPER OF UPTO 4.85 BILLION RUPEES

Source text: ID:nBSEpfpJh

Further company coverage: TATA.NS

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Recasts with branches of cable, comment from NEC

HANOI, Dec 19 (Reuters) - A new undersea fiber-optic cable connecting Japan to Singapore with branches to other Asian countries is ready for operation this month, one of the developers said on Thursday.

The Asia Direct Cable (ADC), which has been under development for years, was inaugurated on Wednesday at a ceremony in Hanoi, Vietnam's capital, Vietnamese military-run telecom company Viettel said.

In addition to Viettel, the 10,000 km-long (6,210 miles) cable, has been developed by SoftBank 9984.T, China Telecom Global, China Telecom Corporation 601728.SS, China Unicom 0762.HK, Singtel STEL.SI, TATA Communications TATA.NS, National Telecom and PLDT TEL.PS, Viettel Solutions - a unit of Viettel - said in a statement.
Japan's NEC 6701.T is the contractor of the project.

The cable will have branches to Thailand, Vietnam, Hong Kong, China and the Philippines.

It will be Vietnam's sixth undersea cable. The country plans to have 15 by 2030.

Last week, Reuters reported another project was being discussed between Vietnamese and Singaporean partners.

ADC will support increasingly bandwidth-intensive applications in the region, said Tomonori Uematsu, NEC's senior vice president.

(Reporting by Phuong Nguyen and Francesco Guarascio; Editing by John Mair and Eileen Soreng)

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Dec 18 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS - ISSUES, ALLOTS 2.50 BILLION RUPEES COMMERCIAL PAPER

Source text: ID:nNSE8JFw9Q

Further company coverage: TATA.NS

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Dec 12 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS LTD - ANNOUNCES KALEYRA AI

Source text: ID:nBSE23gHjg

Further company coverage: TATA.NS

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Nov 15 (Reuters) - Shares of Australia-based Findi FND.AX jumped to a more than two-decade high on Friday, after the fintech services provider said it would acquire Tata Communications' TATA.NS payment solutions unit for A$75.7 million ($48.81 million).

The stock gained as much as 12.2% to A$7.65, its highest level since Sept. 13, 2002, while the benchmark ASX 200 index .AXJO was up 0.53%, as of 0050 GMT.

It has risen 14% in value so far this week and is poised for its best week since mid-October.

The acquisition of Tata Communications Payment Solutions will significantly expand Findi's ATM business, adding 4,600 ATMs and a White Label ATM platform with licence, the Australia-based firm said in a statement, adding that it planned to deploy 3,000 more ATMs.

Findi projects the acquisition to boost cash earnings immediately, forecasting an additional A$28 million-A$30 million in revenue and A$2 million-A$4 million in net profit after taxes within the first year of full ownership.

"The payments platform/switch will enable Findi to connect directly with all integrated payments devices like MicroATMs, biometric payment devices and UPI-based cash withdrawals," the company said.

The acquisition will be financed through existing resources, Findi said, adding that it was awaiting approval from the Reserve Bank of India.

($1 = 1.5509 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru; Editing by Subhranshu Sahu)

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Nov 13 (Reuters) - Tata Communications Ltd TATA.NS:

• ENTERED INTO AGREEMENT WITH TRANSACTION SOLUTIONS INTERNATIONAL (INDIA)

• AGREEMENT FOR SALE OF ENTIRE STAKE IN TATA COMMUNICATIONS PAYMENT SOLUTIONS

• DEAL FOR 3.3 BILLION RUPEES

Source text: ID:nBSE3XSSpw

Further company coverage: TATA.NS

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Oct 24 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS -TATA COMMUNICATIONS UNVEILS AI INFRASTRUCTURE WITH NVIDIA ACCELERATED COMPUTING

• TATA COMMUNICATIONS -FIRST PHASE TO BEGIN AT END OF THIS YEAR

• TATA COMMUNICATIONS - 2ND PHASE WILL EXPAND INFRASTRUCTURE WITH BLACKWELL GPUS

Further company coverage: TATA.NS

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Corrects paragraph 7 to say Kabir Ahmed Shakir is CFO, not CEO

Oct 17 (Reuters) - India's Tata Communications TATA.NS reported an 18% growth in its second-quarter revenue on Thursday, helped by steady demand for its digital services.

The firm posted revenue of 57.67 billion rupees ($686 million) for the three months ended Sept. 30, as compared to 48.73 billion rupees a year earlier.

Tata Communications provides services such as data connections and cybersecurity to enterprises.

The firm's revenue has been a key metric for investors and analysts in recent quarters as it prioritised revenue growth over margins to strengthen its position in the booming Cloud, networking services, and media and entertainment sectors, partly through acquisitions.

Revenue from Tata Communications' mainstay data services business, which contributes about 84% to the total, rose 21%, driven by a 52% jump in its digital portfolio.

However, a 20% rise in its total expenses, driven mainly by growing network and transmission-related spending, pushed its profit before exceptional items down nearly 7% to 2.78 billion rupees during the quarter, its eighth such decline since late 2022.

"We are executing multiple strategic measures, including land monetisation, which will help us create capacity for future opportunities and reposition our assets to capture medium to long term profitable growth," CFO Kabir Ahmed Shakir said.

The company's shares closed 4.8% lower post its results amid a broader sell-off in the market, which saw the benchmark .NSEI drop nearly 1% on the day.

($1 = 84.0575 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Sonia Cheema)

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Oct 11 (Reuters) -

• NOEL TATA APPOINTED CHAIRMAN OF TATA TRUSTS - CNBC TV18

Source text for Eikon: [ID:]

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By Tanvi Mehta

NEW DELHI, Oct 10 (Reuters) - Hundreds of people, including corporate leaders, politicians and celebrities, gathered in Mumbai on Thursday to pay their last respects to one of India's most respected business tycoons, Ratan Tata, who died aged 86.

Known for his exemplary business acumen and philanthropic nature, as chairman he led various companies under the Tata conglomerate for more than 20 years, which had revenue of $165 billion in 2023-24.

Although in recent years Tata was not as active in the day-to-day running of the group, he was consulted on big decisions by the Tata Sons leadership, a senior company executive told Reuters.

Tata had been in a Mumbai hospital since Monday, but the cause of his death was not immediately made public.

After his death, tributes poured in from around the world, underlining his popularity that transcended boundaries and generations.

"India and the world have lost a giant with a giant heart," U.S. ambassador to India Eric Garcetti said on X.

"He ... was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better," Google GOOGL.O Chief Executive Sundar Pichai said.

Draped in the Indian national flag, Ratan Tata's body was kept at a cultural centre in Mumbai, and his funeral will be conducted later in the day with full state honours.

India's central bank governor Shaktikanta Das, Tata Sons Chairman N. Chandrasekaran and Aditya Birla Group Chairman Kumar Mangalam Birla were among early visitors to pay their last respects to the Padma Vibhushan awardee - India's second-highest civilian honour.

A licensed pilot who would occasionally fly the company plane, Tata never married and was known for his quiet demeanour, relatively modest lifestyle and philanthropic work.

"We will remember his legacy of transformative giving to Cornell," his alma mater Cornell University said on X, calling Tata their most generous international donor.

(Reporting by Tanvi Mehta; Editing by Michael Perry)

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Adds source information, background throughout

By Aditya Kalra

NEW DELHI, Oct 9 (Reuters) - Ratan Tata, chairman emeritus of one of India's biggest conglomerates, Tata Sons, is in critical condition in intensive care at a Mumbai hospital, two sources with direct knowledge of the matter told Reuters on Wednesday.

Tata, 86, who ran Tata Sons for more than 20 years and is credited with expanding and diversifying the company, said on Monday he was undergoing routine medical investigations due to his age and related medical conditions.

A representative for Tata, one of the world's biggest conglomerates with a revenue of $165 billion in 2023-24, did not immediately respond to a request for an update on his condition on Wednesday.

The sources, one of them close to the Tata family, and both with direct knowledge of his medical condition, did not give further details on the nature of his illness.

Tata has been admitted to Mumbai's Breach Candy hospital, they said.

In a statement published on his social media profiles on Monday, Tata said he remained in good spirits and that there was no cause for concern.

Tata is not as active in the day-to-day running of the group as he used to be, but is consulted on big decisions by the Tata Sons leadership, a senior company executive told Reuters.

He is, however, involved in the running of Tata Trusts, a philanthropic organisation run by the group, of which he is chairman.

Tata also serves on the international advisory boards of Mitsubishi Corporation and JP Morgan Chase, according to his profile on the Tata Sons website.

Tata became chairman of the autos to steel conglomerate in 1991 and ran the group founded by his great-grandfather more than a hundred years ago until 2012.

He founded telecommunications company Tata Teleservices TTML.NS in 1996 and took IT company Tata Consultancy Services TCS.NS public in 2004.

(Reporting by Aditya Kalra
Editing by YP Rajesh, David Goodman and Mark Potter)

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