Tata Technologies

** Shares of Tata Technologies TATE.NS rise 2.8% to 689.05 rupees

** TATE and Tenneco LLC partner for mobility transformation

** Tenneco expected to make an investment of over $100 mln in this engagement over the next five years, TATE says

** Stock set to snap five session losing streak

** YTD, TATE up ~8%

(Reporting by Vijay Malkar)

(([email protected];))

July 1 (Reuters) - Tata Technologies Ltd TATE.NS:

• TATA TECHNOLOGIES - TENNECO AND TATA TECHNOLOGIES ANNOUNCE $100 MILLION STRATEGIC ENGAGEMENT

• TATA TECHNOLOGIES - TENNECO TO INVEST OVER $100 MILLION IN PARTNERSHIP OVER NEXT FIVE YEARS

Source text: ID:nBSEbjLVXQ

Further company coverage: TATE.NS

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June 1 (Reuters) - Tata Technologies Ltd TATE.NS:

• TATA TECHNOLOGIES - SECURES SAP PARTNEREDGE SELL AUTHORIZATION IN INDIA AND UNITED STATES

Source text: ID:nBSE1rg0wQ

Further company coverage: TATE.NS

(([email protected];))

** Shares of Tata Technologies up 8.5% to 641.5 rupees; highest since February 6

** Engineering research and development firm posts 8.1% rise in Q4 profit to 2.04 billion rupees ($21.39 million)

** Co's revenue rises 22.29% to 15.72 billion rupees

** Profit was helped by a one-time gain of 561.3 million rupees from partial reversal of charges related to India's labour codes

** Co expects double-digit organic growth in fiscal year 2027, chief executive officer Warren Harris said

** BofA ("Neutral"; PO: 595 rupees) notes growth was well-distributed across anchor customers and other segments, with aerospace and industrial heavy machinery showing strong momentum

** Stock rated as "Sell" on average by 13 analysts; median PT at 550 rupees per data compiled by LSEG

** YTD, stock down 2.9%

($1 = 95.3675 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

May 4 (Reuters) - Tata Technologies Ltd TATE.NS:

• TATA TECHNOLOGIES LTD - RECOMMENDS FINAL DIVIDEND OF 8.35 RUPEES AND SPECIAL DIVIDEND OF 3.35 RUPEES

• TATA TECHNOLOGIES Q4 CONSOL NET PROFIT 2.04 BILLION RUPEES

• TATA TECHNOLOGIES Q4 CONSOL REVENUE FROM OPERATIONS 15.72 BILLION RUPEES

Source text: ID:nNSEbHZT7Z

Further company coverage: TATE.NS

(([email protected];;))

March 2 (Reuters) - Tata Technologies Ltd TATE.NS:

• CO AND WITTENSTEIN ANNOUNCE STRATEGIC PARTNERSHIP

• PARTNERSHIP TO ADVANCE SOFTWARE-DEFINED VEHICLE DEVELOPMENT

Source text: ID:nBSEb83VjY

Further company coverage: TATE.NS

(([email protected];))

Jan 16 (Reuters) - Engineering research and development (ER&D) firm Tata Technologies TATE.NS reported a 96% drop in third-quarter profit on Thursday, hurt primarily by a one-time charge tied to India's new labour codes, their largest such drop since the company's 2023 market debut.

Going forward, the firm is still "poised for a sharp acceleration in Q4," CEO Warren Harris said in a statement, expecting more than 10% sequential revenue growth.

The Tata group company, which counts Jaguar Land Rover and Tata Motors TAMO.NS among its largest clients, said consolidated net profit fell to 66.4 million rupees ($731,036) in the October-December period from 1.69 billion rupees a year earlier.

Tata Technologies booked a one‑time exceptional charge of 1.4 billion rupees in the quarter after India notified new labour codes, which raised its gratuity and leave‑related liabilities.

The codes, which came into effect in November, require employee wages to be at least 50% of cost to company, and benefits like provident fund and gratuity to be determined based on wages.

Previously, companies like TCS TCS.NS and HCLTech HCLT.NS have reported similar one-time charges to factor in the new labour codes, while peer ER&D firm Tata Elxsi TTEX.NS's profit was hit by it.

Tata Technologies had said in October it expected short-term tactical challenges and margin pressure in the third quarter, due to "near-term temporary headwinds" and salary hikes.

"Margin headwinds from Q3 are behind us, and we expect to return to—and exceed—the Q2 adjusted margin run-rate," CFO Uttam Gujrati said.

Revenue from its services segment, making up 77% of overall revenue, rose 4.7%, while technology solutions revenue remained flat.

The company's overall revenue rose 3.7% to 13.66 billion rupees.

($1 = 90.8300 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Ronojoy Mazumdar)

((aleefjahan.cs@thomsonreuters.com))

Corrects bullet 6 to say J.P. Morgan's price target for KPIT Technologies is 1,400 rupees, not 4,800 rupees

** Shares of Indian software engineering firms Tata Technologies TATE.NS and Tata Elxsi TTEX.NS jump 4% and 8%, respectively

** J.P.Morgan upgrades both stocks to "Neutral" from "underweight" as automaker clients resume R&D programs after trade deals ease tariff uncertainties

** Work on projects won in 2025 to ramp up this year, brokerage says, with Europe, APAC clients leading demand recovery

** Auto investments focused on hybrids, brokerage notes, with EVs set to recover in the medium term

** As demand recovers, brokerage lifts PT on TATE to 710 rupees from 570 rupees; TTEX's PT raised to 4,800 rupees from 4,000 rupees

** However, KPIT Technologies KPIE.NS ("Overweight," PT: 1,400 rupees) remains JPM's top pick in sector; currently up 4.3%

** TTEX, TATE had underperformed Nifty IT .NIFTYIT index in 2025 on demand worries

** In 2025, TATE dropped 28%, TTEX was down 23% and KPIE fell 20% vs IT index's 13% fall

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

Add details from paragraph 3

By Vivek Kumar M and Yagnoseni Das

Oct 13 (Reuters) - Tata Capital TATC.NS, India's third-largest non-bank lender by revenue, was muted in its debut trade on Monday, valuing the firm at 1.4 trillion rupees ($15.78 billion), with investors seemingly not that keen on the first listing by the storied Tata Group in nearly two years.

Tata Capital's subdued debut has come in a busy IPO market, where analysts say investors appear to be favouring LG Electronics India's LGEL.NS $1.3-billion share sale as they expect stronger listing gains and near-term growth, helped by recent tax cuts.

As of 10:57 am, Tata Capital shares traded at 329.8 rupees, slightly higher than their offer price of 326 rupees. Its market capitalization at the current price trails Bajaj Finance BJFN.NS and Jio Financial Services >, which are valued at $72 billion and $22 billion, respectively.

Tata Capital's IPO was fairly priced but the lack of a major valuation discount to its listed peers was one of the key factors for the tepid response, said Ambareesh Baliga, an independent market analyst.

"This is probably the first time we have seen such muted demand for an IPO from Tata Group," Baliga said.

Strong interest in LG Electronics India's IPO and negative news surrounding the Tata Group, including boardroom turmoil, also weighed on demand for Tata Capital's share sale, said Dhiraj Relli, CEO at HDFC Securities.

Last week, while Tata Capital got bids worth $2.9 billion for its IPO, LG Electronics India's public issue, which opened a day later, received nearly $50 billion worth of bids.

LG will start trading on October 14, while WeWork India, which made its debut last week, fell as much as 5.2% as investors stayed wary of its steep valuation and governance risks.

The last IPO from the salt-to-software Tata Group was by engineering and technology services provider Tata Technologies TATE.NS in November 2023, which listed at a premium of 140% to its issue price.

($1 = 88.7420 Indian rupees)

(Reporting by Yagnoseni Das and Vivek Kumar M in Bengaluru; Editing by Sonia Cheema)

(([email protected];))

Oct 9 (Reuters) - Indian engineering research and development (ER&D) firm Tata Elxsi TTEL.NS reported a fourth straight quarter of widening profit fall on Thursday, as its key transportation business declined amid uncertain markets and geopolitical tensions.

The company, which relies heavily on the auto industry, said net profit fell 32.5% to 1.55 billion rupees ($17.46 million) in the July-September period year-on-year. In the previous three quarters, it had reported a profit fall of between 3.6% and 21.6%.

ER&D firms, which depend on work outsourced by U.S. and European clients, have been under pressure as global automotive clients cut back on investments and R&D spending, reeling from the impact of U.S. tariffs, according to analysts.

Tata Elxsi, which counts Jaguar Land Rover (JLR) among its largest clients, said in July that industry- and customer-specific issues had affected R&D spending and decision-making cycles across geographies.

It added that the global automotive industry remains in flux amid uncertainties surrounding the Chinese market and tariffs, casting a cloud over clients’ R&D plans, while major auto parts makers continue to face challenges.

JLR's temporary production shutdown following a September cyber attack in Britain is also expected to weigh on Tata Elxsi’s quarterly revenue, analysts had said ahead of the results.

Revenue from the transportation segment - Tata Elxsi's biggest - fell 9.9% year-on-year in the second quarter. The segment provides software and engineering services to auto and auto parts makers, including design of parts and technologies.

Its core profit margin came in at 21.1% in the quarter, down from 27.9% a year ago, but bigger than the 20.9% of last quarter.

Overall revenue fell by 3.9% to 9.18 billion rupees.

Shares of the company closed 2.1% higher ahead of results.

($1 = 88.7830 Indian rupees)

(Reporting by Aleef Jahan, Komal Salecha; Editing by Harikrishnan Nair)

(([email protected];))

** Tata Technologies TATE.NS gains 2.9% to 737.5 rupees, a more than 4-week high

** Engineering, research and development firm posts smaller-than-expected Q1 revenue drop on deal wins

** Optimistic about sequential recovery in Q2, stronger H2 FY26

** However, ICICI Securities expects FY26 growth to likely be weak; maintains "sell" at PT of 510 rupees

** Models a 1.5% y/y USD dip in FY26 vs co's double-digit revenue growth aspiration

** Stock rated "sell" on avg; median PT is 640 rupees, per data compiled by LSEG

** YTD, TATE down ~17%

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** India's Tata Technologies TATE.NS down 4.7% following large block deal

** Around 16 million shares, representing 3.95% stake in co, change hands, as per LSEG

** TPG Rise Climate, which holds 6.01% stake in TATE, likely seller, as per media report

** Shares sold at 676 rupees, a discount of 4.2% to Monday's closing price

** YTD, TATE down 25.6%

(Reporting by Vivek Kumar M)

(([email protected];))

April 25 (Reuters) - India's Tata Technologies TATE.NS reported a smaller-than-expected revenue for the fourth quarter, hurt by slowing global demand for electric vehicles.

Tata Technologies provides engineering and technology services to automobile, aero and heavy machinery makers.

The company's consolidated revenue from operations dropped 1.2% to 12.86 billion rupees ($150.6 million) in the January-to-March quarter.

Analysts, on average, had expected revenue of 13.13 billion rupees, as per data compiled by LSEG.

Revenue from its technology solutions segment dipped 14.5%, while its services segment revenue rose 2.9%.

Engineering, research, and development (ER&D) firms have been grappling with slower decision-making in the auto sector, largely driven by concerns over U.S. tariffs, weak auto growth in China, sluggish EV adoption and automakers scaling down electrification targets as a result.

Fellow Tata Group company and peer Tata Elxsi TTEX.NS, earlier in the month, missed quarterly estimates as its top customers in the auto industry paused a number of projects due to tariff issues.

Tata Technologies' net profit rose to 1.89 billion rupees from 1.57 billion rupees a year ago, helped by an uptick in its other income.

Shares of the company closed 3.4% lower ahead of results.

($1 = 85.4210 Indian rupees)

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

(([email protected]))

Jan 31 (Reuters) - Tata Technologies Ltd TATE.NS:

• TATA TECHNOLOGIES LTD - REPORTS RANSOMWARE INCIDENT AFFECTING IT ASSETS

• TATA TECHNOLOGIES LTD - IT SERVICES WERE TEMPORARILY SUSPENDED AND NOW RESTORED

• TATA TECHNOLOGIES LTD - CLIENT DELIVERY SERVICES REMAIN FULLY FUNCTIONAL AND UNAFFECTED

Source text: ID:nNSE4HfLzn

Further company coverage: TATE.NS

(([email protected];))

Jan 21 (Reuters) - Tata Technologies Ltd TATE.NS:

• TATA TECHNOLOGIES Q3 CONSOL NET PAT 1.69 BILLION RUPEES; IBES PROFIT EST. 1.61 BILLION RUPEES

• TATA TECHNOLOGIES Q3 CONSOL REVENUE FROM OPERATIONS 13.17 BILLION RUPEES; IBES EST. 13.11 BILLION RUPEES

Source text: ID:nBSE3jFYPk

Further company coverage: TATE.NS

(([email protected];;))

Jan 7 (Reuters) - Tata Technologies Ltd TATE.NS:

• CO AND TELECHIPS SIGN MOU

• COLLABORATION TO FOCUS ON ADAS, AUTOMOTIVE COCKPIT, GATEWAY CONTROLLERS

Source text: ID:nBSE9sslbb

Further company coverage: TATE.NS

(([email protected];;))

Nov 20 (Reuters) - Tata Technologies Ltd TATE.NS:

• TATA TECHNOLOGIES LTD - SIGNS MOA FOR ITI UPGRADE PROJECT IN TRIPURA

• TATA TECHNOLOGIES LTD - TOTAL CONTRACT VALUE 956.5 MILLION RUPEES EXCLUDING GST

Further company coverage: TATE.NS

(([email protected];))

Oct 28 (Reuters) - Tata Technologies Ltd TATE.NS:

• Q2 CONSOL NET PAT 1.57 BILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 12.96 BILLION RUPEES

Source text: ID:nNSE5Qts56

Further company coverage: TATE.NS

(([email protected];;))

Adds former Tata executive comment paragraph 7-8

By Aditya Kalra and Aditi Shah

NEW DELHI, Oct 11 (Reuters) - The half-brother of Ratan Tata was appointed on Friday as the head of the powerful and influential philanthropic arm of India's Tata group, giving him indirect control of the $165 billion conglomerate.

Tata Trusts said Noel Tata, 67, will be its new chairman after the death this week of Ratan Tata, one of India's best-known corporate titans. The decision followed "many old-timers" in the group wanting him to lead the venture, said one Tata executive.

The parent company, Tata Sons, oversees 30 firms across consumer goods, hotels, automobiles and airlines and has become a global juggernaut over the years, with brands such as Jaguar Land Rover and Tetley Tea in its stable.

It owns Tata Consultancy Services, Taj Hotels and Air India and counts Starbucks SBUX.O and Airbus as partners in India.

Tata Trusts has a 66% ownership of Tata Sons, giving it power over big investment, philanthropic and strategic decisions by the conglomerate, company executives say.

Noel Tata, who is half-French, was already among the many trustees of the philanthropic arm, and also vice chairman of Tata Steel TISC.NS and chairman of Tata's popular retail fashion brand Trent.

"Noel is well versed with how Tata businesses are run. In retail, many people thought how will Tata compete with the big retailers. Noel has shown it," said Sanjay Singh, a former Tata Sons executive who retired in 2019.

"He has kept a low profile so the outer world doesn’t know him well, but he is quintessential Tata."

The trust earns dividends from Tata Sons but has no direct say over its operations. However, it appoints a third of the directors to Tata Sons who have veto power over board decisions.

The chairman of Tata Trusts "is powerful enough to decide board and key personnel" appointments at Tata Sons, a second senior company executive said.

While Tata Sons is not compelled to seek advice or guidance from the philanthropic arm, it's an "unsaid understanding" that there is consultation between leadership on both sides, the first executive added.

NOEL'S JOURNEY

The Tata group was set up in 1868 by Ratan's great grandfather, Jamsetji Tata.

A few years later, Jamsetji started charity work that has since expanded to sectors such as healthcare and sports, through many of the trusts in the philanthropic arm.

Ratan Tata started working at the family firm in 1962 and became the chairman of Tata Sons in 1991, taking the group to new heights while gaining a reputation as an extremely shy, soft-spoken executive with sharp business acumen.

Noel Tata is a graduate of Sussex University who has been associated with the group for more than 40 years. He serves on the board of various Tata companies.

As a previous managing director of Tata International, Noel grew the turnover of the trading arm to more than $3 billion from $500 million, a Tata Group website said.

The Tatas belong to the tiny Parsi community, which has included some of India's biggest business names, top nuclear scientists, world-class musicians and senior military officers.

Parsis follow the Zoroastrian faith, an ancient pre-Islamic religion of Iran. Some of its tenets, such as charity and doing good to others, have long been woven into the Tata heritage and business ethos.

Much of the dividend paid out by Tata Sons gets funneled into charitable trusts involved in philanthropic work.

Although the trusts' influence over the group is not often on display, the starkest such example was in 2016, when Ratan Tata had a falling out with Tata Sons chairman Cyrus Mistry that led to the latter's ouster.

Mistry, another Parsi billionaire whose family owns a stake of about 18% in Tata Sons, died in a car accident in 2022.

One of his former advisers told Reuters this week that the Tata Trusts "without a doubt" exert unparalleled power over Tata Sons' functions, adding that they "work behind a veil."

Noel is an Irish citizen married to Mistry's sister.

(Reporting by Aditya Kalra and Aditi Shah
Additional reporting by Krishn Kaushik and Tanvi Mehta
Editing by Raju Gopalakrishnan and Frances Kerry)

(([email protected]; @adityakalra;))

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)

(([email protected]; https://twitter.com/TanviMehta710;))

Oct 9 (Reuters) -

• CHAIRMAN EMERITUS OF INDIA'S TATA GROUP RATAN TATA IN CRITICAL CONDITION IN INTENSIVE CARE IN MUMBAI HOSPITAL- SOURCES

Source text for Eikon: [ID:]

(([email protected];))

Oct 8 (Reuters) - Tata Technologies Ltd TATE.NS:

• BMW HOLDING B.V. COMPLETED INVESTMENT IN SHARE CAPITAL OF BTIPL

Source text for Eikon: [ID:]

Further company coverage: TATE.NS

(([email protected];;))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, Sept 20(Reuters Breakingviews) - Prime Minister Narendra Modi has spent much of the past decade lowering barriers to foreign investment in India. Yet a growing list of firms including BlackRock BLK.N, BMW BMWG.DE and Shein are expanding in the country in partnership with local tycoons. It tightens the grip powerful families have on the world’s fifth-largest economy, and sets them up as future global rivals to those knocking on their door.

On paper, the once-markedly socialist country is open for business. Its craving for capital is strong. Overseas companies in most sectors are free to enter the market on their own, unlike in China, where large swathes of the economy were kept off limits and where some sectors, like autos, were opened up on the condition that foreign companies found local partners.

The problem is, India’s federal political system and sheer cultural and geographical diversity means it remains a tricky place for international companies. Powerful families offer a shortcut to establishing a nationwide footprint, avoiding cut-throat domestic competition, or achieving both of those things.

BlackRock’s decision to re-enter India exemplifies the dilemma. The company run by Larry Fink, which manages over $10 trillion, is in the process of teaming up with Mukesh Ambani’s Jio Financial Services JIOF.NS in asset and wealth management. The U.S. company exited an Indian joint venture with DSP in 2018 because it didn’t have a path to control.

Fink is unlikely to have a path to control with Jio but the rapid financialisation of savings in recent years means the market is too attractive for BlackRock to ignore. Partnering with a tycoon is less risky for the U.S. company than trying to beat India’s richest man who wants to push into financial services and is known for obliterating competition.

The desire of foreign companies to defend their market position in India partly explains their rush to subscribe to fundraisings by Reliance’s RS.N business units in 2020. These include Facebook-owner Meta Platforms' META.O $5.7 billion purchase of a 10% stake in Reliance’s digital and telecoms business. India remains open for U.S. Big Tech but Indian companies are also flexing their muscles more in digital businesses from telecoms to e-commerce as more Indians get smartphones.

Elsewhere, New Delhi is encouraging partnerships through subsidies in its flagship production-linked incentive scheme to spur manufacturing. This allows the government to dictate which foreign companies team up with which Indian families to be the next leaders in future industries.

Taiwan’s Hon Hai Precision Industry 2317.TW, more widely known as Foxconn, pulled out of a joint venture last year to make chips with Anil Agarwal’s Vedanta VDAN.NS after widespread concerns about the Indian company’s debt and its ability to fund investments. Meanwhile, global companies like French oil giant TotalEnergies TTEF.PA are burnishing their green credentials by partnering with Indian tycoon Gautam Adani, who has big ambitions in renewable energy. Smoother access to subsidies is one reason companies including Japan’s Fujifilm 4901.T are scouting for local partners before they start production in India.

It’s significant that many of the new partnerships are in the realm of technology. Adani’s group will work with Israel’s Tower Semiconductor TSEM.TA to build a chip fabrication plant; German carmaker BMW and Tata Technologies TATE.NS plan to leverage Indian talent in IT to develop intellectual property that will drive cars of the future.

While India’s approach to inward investment differs from China’s in many ways, the country desires the same thing as its neighbour wanted from foreign multinationals: know-how.

The government yearns for the South Asian nation to become a manufacturing powerhouse. India’s leading business families also want to dominate in their home market and to break out as leaders on the global stage. After picking up a stake in UK telecom operator BT BT.L last month, Bharti Enterprises Chair Sunil Bharti Mittal told journalists India's government is continuously encouraging a handful of companies which have gone global to accelerate the process.

That sets up the potential for at least some of the new Indian alliances to sour, just as several Chinese joint ventures did. True, some foreign companies that ventured into the People’s Republic simply failed to keep up with fast-changing local consumer preferences. Others, though, said they were pressured into handing over technology to their private or state-backed joint venture partners, to local officials or to Chinese regulators as a condition for doing in business in the world’s second-largest economy.

That complaint took centre stage in a trade war launched in 2018 by then U.S. President Donald Trump. When Stellantis STLAM.MI ended its joint venture with Guangzhou Automobile Group 601238.SS in 2022, the European carmaker’s CEO Carlos Tavares blamed rising “political influence” in doing business with partners in China.

It is therefore perhaps unsurprising that Chinese companies have the least freedom to operate on their own in India. The government turned up the heat on companies from the People’s Republic after a deadly skirmish between the two countries’ militaries along the Himalayan border in 2020. This tension has resulted in some particularly eye-catching joint ventures struck by Chinese companies that want to continue to expand in the fast-growing Indian market.

Four years after New Delhi banned Shein’s app, the fast-fashion company which was founded in China is back in partnership with Ambani’s $240 billion Reliance Industries. Together they plan to digitise the supply chains of the conglomerate’s retailer, manufacture goods and export them to the world. Similarly, less than two years since India launched an investigation into a local unit of Chinese automotive giant SAIC Motor 600104.SS, the company finalised a joint venture in March to sell its MG-branded cars in partnership with Sajjan Jindal’s JSW Group.

New arrivals at least have some examples of successful foreign joint ventures in India to aspire to. Take $46 billion Maruti Suzuki MRTI.NS, purveyor of 40% of the country’s cars. This partnership with Japan’s Suzuki Motor 7269.T has delivered yearly returns to shareholders over the past decade, including dividends, which exceed those of the benchmark Nifty 50 Index. Meanwhile, Adani Wilmar ADAW.NS, the Adani group’s partnership with Singapore’s Wilmar WLIL.SI, established a quarter of a century ago, is behind India’s largest selling edible oil brand.

Outside of joint ventures, some foreign companies have had more luck than others on their own in India. South Korea’s Samsung 005930.KS has had remarkable success selling smartphones and held a leading position in the consumer electronics market for a long time, but British telecom operator Vodafone VOD.L struggled with a price war and merged with India’s Idea Cellular in 2018. Whether or not India is open for business, foreign business alliances are accumulating even more power in the hands of the country’s leading tycoons.

Follow @ShritamaBose on X

(Editing by Una Galani and Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on BOSE/
[email protected]))

** Shares of Tata Technologies TATE.NS up 2.7%; among top gainers in Nifty mid-cap index .NIFMDCP100

** About 2.5 mln shares changed hands in multiple block deals as per LSEG

** Overall 13.3 mln shares change hands, sees most active session so far this year

** Stock down 12.7% YTD, eighth top loser in mid-cap 100 index, which is up 27.4%

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

BENGALURU, July 18 (Reuters) - India's Tata Technologies TATE.NS reported a 15% fall in first-quarter profit on Thursday, hurt by declining revenue from its services segment and higher expenses.

The company, which provides engineering and technology services to auto, aero and heavy machinery makers, said its consolidated net profit after tax declined to 1.62 billion rupees (around $19 million) in the quarter ended June 30 from 1.92 billion rupees earlier.

Analysts' notes point towards a heavy dependence on client orders, including from major ones such as parent Tata Motors - which dominates India's small but growing EV market - and Vietnamese EV company VinFast 0TL.F.

Revenue from VinFast, however, declined in the preceding quarters, with analysts saying the effects of the cut would have "bottomed out" in the April-June quarter.

Tata Technologies' profit fell 27% in the quarter ended March 31 due to similar reasons.

Revenue from its services segment fell 0.5% in the quarter, while its smaller technology solutions segment's revenue grew 6%.

Overall revenue for the June quarter rose just 0.3%, and, together with a 12% rise in expenses, hit the company's bottomline.

While the company did not provide a breakdown of the revenue decline from VinFast, CEO and Managing Director Warren Harris said in a statement that the VinFast transition is now largely behind and added he expects the sequential revenue growth in the services business to accelerate from the current quarter.

The June quarter marks the third quarterly earnings for the Tata Motors TAMO.NS unit, which went public in a smashing debut in November at a valuation of $6.4 billion.

($1 = 83.6130 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Janane Venkatraman )

(([email protected]; +918447554364;))

June 18 (Reuters) - Tata Technologies Ltd TATE.NS:

• TATA TECHNOLOGIES COLLABORATES WITH MICROSOFT AND TATA MOTORS

Source text for Eikon: ID:nBSE13GmmN

Further company coverage: TATE.NS

(([email protected];;))

** Shares of Tata Technologies TATE.NS fall as much as 5% to 1,032.70 rupees; last down 3.5%

** The engineering and technology services provider reports a 27.4% fall in March-qtr consol net profit

** TATE on track for second straight session of losses, with trading vol on the day already equal to 30-day avg

** Avg rating of 7 analysts is "sell" on TATE; median PT is 920 rupees -LSEG data

** Stock down ~11% YTD, had lost 10% in 2023

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

May 3 (Reuters) - Tata Technologies Ltd TATE.NS:

• MARCH-QUARTER CONSOL NET PAT 1.57 BILLION RUPEES VERSUS 2.17 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 13.01 BILLION RUPEES VERSUS 14.02 BILLION RUPEES

• DIVIDEND 8.4 RUPEES PER SHARE

• RE-APPOINTMENT OF WARREN KEVIN HARRIS AS CEO AND MANAGING DIRECTOR

• SPECIAL DIVIDEND OF 1.65 RUPEES PER SHARE

Further company coverage: TATE.NS

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Adds analyst comment in paragraphs 5-6

By Rama Venkat

BENGALURU, April 12 (Reuters) - Bharti Hexacom's shares BHAX.NS surged 54.4% in their trading debut on Friday, beating analysts' expectations and valuing the Indian telecom operator at 440 billion rupees ($5.28 billion).

The stock opened at 755 rupees, subsequently climbing to 880 rupees. Analysts had expected the stock to list at a 10%-15% premium on its initial public offering price of 570 rupees.

So far in 2024, 64 Indian companies have gone public, raising $2.31 billion cumulatively, compared with 42 companies that $170.6 million in the same period last year, according to LSEG data.

Seventeen of the 64 companies that went public did so on the main stock exchange. Among them, Hexacom's trading pop was the second biggest so far this year. Indian EV charger maker Exicom Tele-Systems' EXIC.NS 93.3% surge on its trading debut in March was the biggest this year.

"The listing is beyond expectations and the movement thereafter even more surprising," said Arun Kejriwal, founder of Kejriwal Research and Investment Services.

"While Hexacom's IPO price was at a discount compared to what Airtel trades at, after the rise on the debut day, the companies seem to be at a similar valuation based on earnings, said Kejriwal. "One would wonder whether it makes sense to buy Hexacom or Airtel."

Billionaire Sunil Mittal-led Bharti Airtel BRTI.NS, India's No.2 telecom operator by subscribers, owns 70% of Bharti Hexacom. Bharti Airtel shares fell 0.4% at 1,224.55 rupees.

While the parent company operates across India, Bharti Hexacom offers mobile, broadband and fixed-line telephone services under the "Airtel" brand in the northwestern state of Rajasthan and some parts of northeastern India.

The 42.75-billion rupee IPO, the country's largest public issue in a year, was oversubscribed 29.88 times last week.

The Tata Group's Tata Technologies TATE.NS and JSW Group's JSW Infrastructure JSWN.NS also had strong debuts late last year, surging 180% and 32.2%, respectively.

($1 = 83.3750 Indian rupees)

(Reporting by Rama Venkat in Bengaluru; Editing by Sonia Cheema and Janane Venkatraman)

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