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Offer withdrawal: Tata Motors pays damages to CEO-designate

Offer withdrawal: Tata Motors pays damages to CEO-designate
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Offer withdrawal: Tata Motors pays damages to CEO-designate
Reeba Zachariah / TNN / Updated: Apr 17, 2021, 11:12 IST
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MUMBAI: Tata Motors has compensated German national Marc Llistosella, whom it had hired to lead the company but withdrew the offer before he could take charge, it is learned.
On February 12, Tata Motors announced the appointment of Llistosella as its chief executive. But it said a month later that he will not be joining the Mumbai-based company. Tata Motors didn’t give any reason for the change in decision.
Llistosella, a former Daimler veteran, according to the employment terms, was to join the Tata Group flagship formally on June 1. He had also attended virtual meetings to gain an understanding of its domestic business in the intervening period. ....

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Tata Sons exits BPM biz, offloads Conneqt stake

Tata Sons exits BPM biz, offloads Conneqt stake
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Tata Sons exits BPM biz, offloads Conneqt stake
Reeba Zachariah / TNN / Updated: Apr 17, 2021, 10:37 IST
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MUMBAI: Tata Sons has sold its remaining 30% in the business process management (BPM) unit Conneqt to Quess Corp majority owned by Indian-Canadian businessman Prem Watsa for Rs 208 crore.
With this, Tata Sons, the holding company of the Tata Group, has exited the BPM business it founded in 2004. The exit is a result of it pruning its non-strategic portfolio.
In November 2017, Tata Sons had sold 51% of Conneqt to Quess. Two years later, its stake in the Hyderabad-based company fell by 19% after it didn’t participate in an equity funding programme of Conneqt. On the other hand, Quess’s interest in Conneqt increased to 70% from 51%. ....

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Lockdown blues

Lockdown blues
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/ Morning Dispatch
Harsh lockdowns have brought
e-commerce to a halt in some states, which means that while overall demand for online shopping is still up, it isn’t close to matching last year’s growth.
Also in today’s letter:
India’s national
Unicorn week
State of the e-commerce nation
Regional lockdowns have hampered e-commerce sales in some states and boosted them in others. And while overall demand has grown, it hasn’t surged in the way it did last year, e-commerce executives told ET.
What’s happening: Lockdowns in some districts of Chhattisgarh have brought e-commerce activities to a halt. “We’ve been trying to tell local authorities that e-commerce is the only way to ensure people stay at home, but nothing is happening,” said a top executive. ....

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Tata SUVs, sedans, hatchbacks get up to Rs 65,000 off in April 2021

Datsun Go. The hatchback comes fitted with a sole 1.2-litre petrol engine that makes 85hp and 114Nm. Gearbox options include a 5-speed manual and a 5-speed AMT automatic. The Tiago is also the only offering in the segment to come with a
4-star GNCAP safety rating. Prospective buyers for the Tiago can avail an exchange bonus of up to Rs 10,000 as well as other benefits of up to Rs 15,000 from the dealerships.
Tata Nexon and Nexon EV discounts for April 2021
Up to Rs 15,000
Tata currently offers the
Nexon with two internal combustion engine (ICE) options as well an all-electric powertrain. The ICE equipped Nexon is available with a 110hp, 1.5-litre turbo-diesel and a 120hp, 1.2-litre turbo-petrol engine, both of which get manual and AMT gearbox options. The Nexon EV on the other hand comes with a 30.2kWh battery pack that powers a single 129hp electric motor. The Nexon competes in the compact-SUV segment and faces off against the ....

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Tata Steel consolidated its utilities and infra services biz under TSUISL

Tata Steel announced that the company is reorganizing its India footprint into 4 clusters to drive scale, synergies and simplification and to create value for all stakeholders.
As part of the said initiative, the company on 03 April 2021 transferred the (i) 100% stake it held in Tata Steel Special Economic Zone (TSSEZ), (ii) 100% stake it held in The Tata Pigments (TPL), (iii) 32.67% stake it held in Jamipol (JAMIPOL), and (iv) 20.99% stake it held in Nicco Jubilee Park (NJPL) to Tata Steel Utilities and Infrastructure Services (TSUISL) (formerly known as Jamshedpur Utilities & Services Company), a wholly owned subsidiary of the company.
TSUISL has been identified as the anchor entity for the Utilities and Infrastructure Services cluster. ....

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