|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||2,426.30 - 2,511.05|
|52 Week Range||1,506.05 - 2,555.00|
|Beta (5Y Monthly)||0.69|
|PE Ratio (TTM)||29.91|
|Earnings Date||Oct. 07, 2020|
|Forward Dividend & Yield||20.00 (0.82%)|
|Ex-Dividend Date||Jul. 16, 2020|
|1y Target Est||2,122.44|
(Bloomberg) -- India’s Tata Group is in talks with potential investors about taking stakes in a new digital platform, people familiar with the matter said, seeking to modernize its consumer businesses as retail giants like Amazon.com Inc. and billionaire Mukesh Ambani pile into the country’s fledgling e-commerce market.Tata Sons Pvt., the holding company of the $113 billion coffee-to-cars conglomerate, is working with advisers to explore bringing in financial or strategic investors, including global technology companies, the people said, asking not to be identified as they aren’t authorized to speak to the media. The group plans to bring together digital assets across various Tata businesses to create the new entity, according to the people.A Tata Sons representative declined to comment on the stake sale discussions.Tata’s platform -- an e-commerce gateway for its consumer products and services ranging from beverages to jewelry and resorts -- may seek to compete with the ambitious plans of Ambani, Amazon.com and Walmart Inc.’s Indian venture Flipkart to tap the nascent market of more than 1 billion consumers. Ambani, chairman of Reliance Industries Ltd., is looking to forge a digital empire, raising more than $20 billion from big-name partners including Facebook Inc. and Google for his newly formed technology venture, Jio Platforms Ltd.Discussions with potential investors are at a very early stage and there’s no certainty they will result in a deal, the people said.Adding HeftWhile bringing in outside investors would lend credence to Tata’s digital ambitions, it may also help the group pare debt after the coronavirus pandemic hammered its flagship businesses. Tata Steel Ltd.’s group net debt was at $14 billion as of June 30, while the net automotive debt of Tata Motors Ltd., which owns Jaguar Land Rover, was around 480 billion rupees ($6.5 billion).Tata Group already has a bunch of entrenched consumer businesses, many of which also have an online presence. These include Tanishq’s jewelry stores, Titan watch showrooms, Star Bazaar supermarkets, chain of Taj hotels and a joint venture with Starbucks in India. The intention is to consolidate these currently fragmented web operations.As part of that drive, the conglomerate is building an all-in-one e-commerce app for its swathe of consumer products and services, Bloomberg News reported last month. It is expected to be launched by end-2020 or early next year.Walmart is in talks with Tata about a possible investment in the planned app, Mint newspaper reported Tuesday, citing people it didn’t identify. Natarajan Chandrasekaran, Tata Sons’ chairman and a long time chief executive officer of Tata Consultancy Services Ltd. before that, is championing the group’s digitization drive and Tata Digital’s head Pratik Pal is in charge of building the all-in-one app, a person told Bloomberg News last month.Pal has three decades of experience at TCS, where he was global head of retail, and helped with the digital transformation of some of the world’s largest retail chains including Walmart, Tesco Plc, Aldi Inc., Target Corp., Best Buy Co. and Marks & Spencer Group Plc.(Updates with media report of Walmart talks in ninth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
* State's COVID-surge restrains India's recovery Maharashtra, if a country, would rival world's 4th-worst hit * Rural areas hit after earlier curbs lifted By Shilpa Jamkhandikar and Rajendra Jadhav MUMBAI, Sept 11 (Reuters) - India's biggest and richest state, Maharashtra, is set to record its millionth infection of the new coronavirus on Friday, putting it on par with Russia in the pandemic and stifling India's attempts to turn around an economic plummet. The western state, home to financial capital Mumbai, is on pace to blow past the 1 million mark as infections have been rising some 20,000 a day recently.
Indian shares edged up on Thursday after activity in the country's coronavirus-crippled services industry contracted at a slower pace than in July, while Vodafone Idea rose after a report said U.S. wireless carrier Verizon Communications and Amazon.com Inc may invest in the company. A survey showed activity in India's services industry fell for a sixth straight month as coronavirus restrictions continued to hurt business operations and demand, but improved from July. "The numbers are not that good, but its not that bad either, and markets don't have anything to immediately react to, so we are taking positive cues from global markets which are doing fairly well," said Deepak Jasani, head of research at HDFC Securities in Mumbai.