Tata Group's strategic moves in high-tech manufacturing, including semiconductor investments and potential Pegatron acquisition, align with India's Make-in-India program. The Tata Group is poised for significant expansion in technology fields, with plans to inject over $120 billion into emerging business sectors and group focal points such as semiconductors, defense, electric vehicles, and Air India.
Pegatron is in talks to transfer control of its iPhone manufacturing facility in India to the Tata Group, aiming to establish a joint venture with Tata Electronics holding at least a 65% stake. This move aligns with Apple's diversification strategy amid geopolitical tensions, strengthening Tata's position in iPhone manufacturing in India.
The performance was attributed to a consistent demand for cooling products during the year, coupled with a strong offline and online distribution network, and new innovative launches, the Tata Group firm said in a statement. "The company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35 per cent," it added.
Watches & Wearables domestic business surged 7% year-on-year, comprising 7% revenue growth in analogue watches and 2% in wearables.
The company said it aims to build this D2C marketplace via a no-frills approach, enabling brands to benefit from deeper data and insights as well as POPcoins.
“We aim to redefine the landscape, meeting the growing demand for convenient, high-quality meal solutions. Our goal of INR 100 crore in online sales by 2026 underscores our belief in Precia's potential and our commitment to continuous growth,” said Hari Menon, CEO and co-founder, BigBasket.
The Tata group-owned online grocer BigBasket is eyeing to come out with an initial public offering in 2025 after turning profitable, a top official said on Tuesday.
The surge in online purchases post-pandemic has led to a rapid rise in online-first D2C brands, particularly in personal care, food, and apparel. However, this growth has intensified competition, resulting in bidding wars for advertising space online. Consequently, customer acquisition costs have skyrocketed as brands vie for visibility. While platforms like Facebook, Instagram, and Google Ads have been go-to channels, they have become saturated, making it challenging for brands to stand out without a significant increase in advertising expenditure.
Tata Group is entering the online food ordering sector with its 'super app' Tata Neu, using the government's ONDC. The app plans to start its food delivery service and cross-sell its other products, including apparel, jewellery, grocery, electronics, and flights. Tata Neu will integrate with ONDC and work with Magicpin as a technology service provider. Magicpin has helped other companies with their ONDC integration and is the largest seller-side platform on ONDC in terms of restaurant onboarding.
Noel N Tata, chairman of Trent Limited said, "We will continue to expand and deepen our store presence with the aim of being ever more proximate and convenient to customers reinforcing our brand promise. We believe that our strategic differentiators will continue to provide us encouraging tailwinds."
Voltas' total income grew 31.8 per cent at Rs 2,683.61 crore in Q4 FY23 as compared to Rs 2,036.27 crore in the same period last fiscal. Its total expenses also rose to Rs 2,623.67 crore in Q3 FY24 as against Rs 1,946.72 crore in Q3 FY23, as per the regulatory filing.
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