Profit 360: Noel Tata Is Tata Trust's New Chairman | NDTV Profit
Category
🗞
NewsTranscript
00:00for to a dollar level for the first time pressured by concerns over the recent jump in oil prices due to
00:06Rising West Asia conflict as well as the exodus of foreign money from equity market
00:13Terrorism is also a serious challenge to global peace and security says Prime Minister Modi as he urges
00:19cooperation to combat the menace at the 19th East Asian summit in Laos
00:24Conflict in West Asia escalates Israeli airstrikes hit a densely populated area in Beirut killing 22 civilians
00:32NDTV profit brings you a ground report
00:46Well, good evening and welcome you are watching NDTV profit and this is profit 360, I'm your host Nupur Talwar Suri
00:53Well, the biggest news that's coming in today
00:55Of course is from the Tata group where Noel Tata has been appointed the chairman of Tata Trust
01:00Which consists of the Sir Dharamji Tata Trust and the Sir Ratan Tata Trust
01:04Now the board arrived at a unanimous decision after a meeting earlier today and Pallavi
01:09Nahata is reporting on this and joins us with the details
01:14We're here outside the World Trade Center very short while back Noel Tata was appointed as Ratan Tata's successor
01:22the Tata Trust board meet was underway and
01:26The reason this is critical is because the ownership of Tata sons
01:31Is largely held by two key trusts that is the Sir Ratan Tata Trust and the Sir Dharamji Tata Trust which together
01:38Comprised over half of the ownership of Tata sons
01:42Noel Tata was being seen as a front-runner for the position and he was already
01:50In both the Sir Ratan Tata Trust as well as in the Sir Dharamji Tata Trust
01:55Today as well, we did not manage to get a bite from him
01:58He continues to remain media shy but of the little we do know about him is the various positions he has held
02:05In the Tata group of companies so far. He currently shares several companies within the Tata portfolio
02:13These include Trent, Tata International, Voltas
02:17He's also vice chairman of Tata Steel and Titan and has been instrumental in the conglomerate's growth
02:24since the early
02:262000s his leadership experience did of course put him in a good place for
02:32You know becoming a successor in the Tata leadership hierarchy a step towards which we saw today
02:39All right Pallavi, thank you very much for that now with the Tata group poised for change Noel Tata is stepping into the spotlight
02:46Who is he and what could his leadership mean for the future of this global giant? Let's take a closer look
02:53Aged 67, Noel began his career in the early 2000s and took on the role of chairman and managing director of Tata International
03:01in 2011 driving the group's global expansion
03:05Under his leadership Tata Trent's Zodio brand has made waves with affordable fashion
03:12Beyond business Noel's influence is anchored in his role as a trustee of Tata Trust which hold over
03:1865% of Tata Suns the group's holding company
03:22His leadership has recently extended to key positions at Titan and Tata Steel
03:27Further reinforcing his significance in driving the group's international strategy and future growth
03:34With his deep ties to the Tata legacy and expanding global portfolio
03:38Noel is emerging as a pivotal figure in the conglomerates next chapter
03:44Well, but what does this mean for the future of Tata Trust
03:49I'm now joined by Sajid who will be breaking down what this change in leadership
03:54Essentially means for the Tata Trust. Hi Sajid Sajid. So this is the biggest news that's coming in this evening
04:00Take us through how this could change Tata Trust because there's a new man at the helm now and he will bring with him
04:08Changes perhaps true. You know, there is a new person at Tata Trust who will be heading the entire
04:16Philanthropy in a initiative of the Tata group, but to put it in simple the the legacy which has been
04:24Which was left by Mr. Ratan Tata
04:27It's going to be a continuity to that because Noel already was part of some of the trust as a trustee
04:33Whether it was a certain Tata Trust or the Sir Dorabji Tata Trust. He was part of it
04:38He was inducted into it as part of the transition which was there and with this
04:44Move where he has been made the chairman of the Tata Trust
04:47He now moves into the executive committee of the Tata Trust which takes care of the day-to-day
04:52operations of the Tata
04:55Tata Trust activities. Remember while there are two major trusts which are there
04:59there are allied trusts associated with these trusts and in total there are around 14 trusts which are
05:05Managed by the Tata Trust as an umbrella and it requires a lot of coordination between all the trusts and trustees
05:12So that you know, there is a concentrated
05:15you know contribution towards various
05:19Initiatives whether it is in health care whether it's in rural upliftment or
05:24education or sanitation the trust, you know ensures that you know
05:29The money is pooled and put to put it to use in a very affordable in a very effective manner
05:36So that you get gets a desired result and at the same time it is it's a purpose of giving back to the society
05:42which is the philosophy of the Tata group, so
05:46There is not not going to be any any major thing with respect to a corporate side of it
05:51But on a philanthropy side of it, we will see some measures where Noel will bring in his expertise
05:56His his vision of how to take the Tata legacy and the philanthropy going forward. Yes, absolutely
06:03So do you thank you very much for joining us and breaking that down for us
06:07Now going ahead, of course Noel Tata will head Tata Trust which owns about 65.3% shares in Tata Suns
06:14In fact Agam is joining in to tell us what the Tata Trust ownership pattern looks like
06:21So we now know that Noel Tata has been appointed as a chairman on the board of Tata Trusts
06:26But it is perhaps important to understand the ownership of Tata Trusts in Tata Suns
06:31So at the moment Tata Trusts in an accumulative basis own around
06:3665.3% stake in Tata Suns and even in this stake
06:40There are two key trusts which hold as much as 50%. Now among these two key trusts
06:45We have Sir Ratan Tata Trust as well as Sir Dorabji Tata Trust and we have five board members
06:51Which are common in both these trusts namely Vijay Singh, Venu Srinivasan, Noel Tata, Melly Mistry as well as
06:59Darius Kambatta. Now moving in as perhaps it's also important to see and take a look at the Tata family tree
07:05So we do know that Noel Tata is Ratan Tata's half-brother and Noel Tata also has three children who are also actively
07:12Involved in Tata Group companies. Noel Tata himself is currently the chairman of Trent, Tata International Limited
07:19Voltas as well as Tata Investment Corp, and he's also the vice chairman on
07:24For Tata Seal as well as Titan Company. Moving on as far as children are concerned we have Lea Tata
07:30She is currently the vice president at the Indian hotels
07:33We have Maya Tata and she's associated with Tata Capital as well as Neville Tata
07:38And he's associated with Trent as well, and he overlooks the leadership team at Star Bazaar
07:44That said it's certainly going to give you an idea about what's in store with respect to leadership going forward
07:50But that's the latest update with respect to the Tata Group. All right Agam
07:54Thank you for that now as the Tata Group enters a new era
07:57Meheli Mistry emerges as a significant player, but who is he and what connections does he hold within this influential family?
08:04Here's a report
08:08Meheli Mistry is the director at Meherji Palonji Group, which has a diverse portfolio and specialty coatings
08:14Logistics, finance and more. He's also the first cousin of late Cyrus Mistry, former chairman of Tata Sons
08:22Meheli Mistry was a longtime friend of Ratan Tata
08:25In October 2022 Meheli was appointed to the boards of two major Tata Trust
08:31Sir Dorabji Tata Trust and Sir Ratan Tata Trust, which together control over 60% of Tata Sons
08:38He also joined the Tata Education and Development Trust and has been a trustee at Tata Medical Center since 2014
08:46Known for his unwavering support to Ratan Tata during the tumultuous events following Cyrus's ousting in
08:532016, Meheli's loyalty has placed him at the heart of the Tata legacy
09:00Well now moving on to what the markets look like today
09:03Well, the nifty and the sensex closed lower for a second week with sectoral indices mostly ending high at close
09:09However, nifty pharma rose the most and nifty realty was the top loser. Neeraj is joining in with a wrap of all the action
09:17Well
09:20Interesting session for the markets in that we've now gotten used to the index
09:25Consolidating in a 500 point range and today made no effort to break out either direction. So no drop downs majors
09:32No, very large attempts at a high as well and bank nifty was the culprit
09:38It certainly came off in the session today idea was a mixed bag because while TCS didn't do well
09:43There were stocks like HCL Tech, Tech Mahindra and Infosys which had a pretty serious session too
09:48So in some sense there it was balanced out, but banks certainly sulked in the session today
09:54HDFC Bank, ICICI, Axis all of them were down
09:58Metals had a good move because there's an expectation that China will give a stimulus sometime
10:03At a point of time this weekend and therefore there's an expectation that metals might do well on Monday
10:08So it's a bit of a trade hope trade if you will. Let's wait and watch if it materializes
10:12So that's as far as the large caps go. As far as the broader end of the spectrum goes
10:18You had some very serious
10:21Moves that came in into bottom-up stock names led by news flow
10:26So Sudarshan Chemical and acquisition large one up 14%
10:31There was strength in Justile after the numbers up about 4%. Bombay Stock Exchange with NSE now being
10:38Told to have only one major index as a derivative expiry and they've chosen Nifty 50
10:45And therefore BSE took gains to it and ended about 8% higher
10:50And then there were a clutch of other names of course, which had decent moves
10:53There was TRIL, Wokard both of which were up 5%, Exide which was up about 3.5%
10:58So a clutch of those stocks had some decent moves as well. On the flip side not too many
11:02I mean, there were maybe a stock or two which might have come off a little bit
11:06Adani Enterprises may be a bit of a disappointment because the QIP was very well subscribed, but the stock didn't do too much
11:12but all in all
11:13Not a bad day of trade more of what we've seen in the last few days with no serious attempt to break out on either side
11:21All right, Neeraj. Thank you very much for that. Now earlier today
11:25We spoke to Gautam Duggar from Motilal Oswal who told us about his top sectoral picks
11:31Increased weight in ICICI, HDFC Bank. We've also introduced Kotak Bank in our model portfolio
11:37We've added HDFC Live. We've added some of the niche alpha plays in NBFC like 5-Star Business
11:43We've increased weightage on Angel. So overall financials have gone to a chunky overweight for us
11:49And all three segments of financials are overweight. Private bank, PSU bank, diversified financials, NBFC
11:55So that is one thing we've done. IT is already a big overweight
11:58So both top-down and bottom-up you can say or rather you can conclude that our portfolio today is slightly more defensive than what it has been
12:07Now TCS kicked off the IT earnings season yesterday with revenue falling in line while profit and margin
12:13failed to meet estimates. Now Sandeep Agarwal, Fund Manager and Co-Founder, PFSowillow Investments
12:20spoke to us about the earnings and he told us that the worst is over
12:24Fundamentally, these numbers also suggest that the worst is behind and things will improve from here
12:31Number one. Number two, if you see, I'm more positively surprised with the recovery in the BFSI
12:39And it also clearly suggests what we saw in Accenture numbers that
12:43Consultancy is down and that is what is reflecting in North American decline at the same time BFSI uptick
12:49So it is, in my view, positive from the growth perspective. It seems that worst is behind and things will pick up
12:55But at the same time, I would also say that all these stocks have run up quite a bit in last 6-8 months
13:02And as I've said many times earlier that this is a sector where you can make 15-15% annually in the large names
13:09and 15-20% in the mid and small names depending on where you are
13:12The Indian rupee breached the crucial mark of 84 against the dollar and hit an all-time low of 84.09
13:19This was despite the dollar sales by the Reserve Bank of India
13:23Subhana Sheikh of NDTV Profit has more details on what happened
13:29Yes, so the Indian rupee has hit an all-time low of 84.09 and also ended at 83.98 against the dollar
13:37It breached the psychological crucial mark of 84 against the dollar
13:43Now, this was despite the dollar sales by the Reserve Bank of India
13:47And it's also because foreign banks were persistently buying the Indian rupee because of outflows in the domestic equities
13:55Now, the outflows from domestic equities were due to the risk of sentiment that was taking place among the traders
14:03due to rising tensions in West Asia
14:09Now, the head of UN Peacemaking informed the Security Council that the safety and security of peacemakers in Lebanon is growing at risk
14:19Now, this was followed by Israeli forces were actually firing on United Nations interim force in Lebanon
14:25Now, also the strength in the US dollar also weighed on the Indian currency
14:31Data had recently showed that US CPI actually rose to 0.2% in September against expectations of 0.1% rise
14:39So, these are the reasons as to why the rupee has hit an all-time low today
14:45All right, Subhana, thank you very much for those details
14:49Well, Adani Enterprises Limited shares sale worth $500 million to institutional investors
14:55garnered over four times demand from marquee investors including GQG partners
15:00And Anushi joins in with more details of what happened with the QIP
15:06Adani Enterprises 4200 crore QIP has received about four times the subscription
15:12and we are seeing some interesting names coming as marquee investors
15:16Key participants include GQG partners as per the sources
15:20We know the key participants if we are looking at Quart Mutual Fund, SBI Life Insurance, SBI General Insurance,
15:27Y2 Capital Mutual Fund and more are involved in this QIP that we are looking at
15:33Now, just on the QIP details just to reiterate some of these facts that were known earlier
15:38The company launched a 4200 crore QIP at the floor price of Rs 3,170.47 per share
15:48and the company seeks to raise about 4200 crore as spoken earlier
15:52The floor price if we are seeing at is at a discount of 6.08% from the share's closing price on the launch day
15:59and may not offer discount of more than 5% on the floor price
16:03If you look at the book running lead managers SBI Capital Markets, Jefferies India and ICICI Securities Limited
16:11were the book running lead managers of this issue
16:14So, that is why we are seeing Adani Enterprises in focus today
16:20Right Anushi, thank you for that
16:21Now, as the festive season kicked off, Flipkart and Amazon were the first ones to launch their sales
16:26But how did that fare?
16:27Is e-commerce poised to see great sales numbers this festive season?
16:32Rishabh brings in details
16:36We have some data trickling in from a body called Datum Intelligence
16:41They have released data for the first week of this festive period
16:46and what we are seeing is that the projected sales for this entire month or so
16:50which is supposed to be at around 1 lakh crore rupees
16:5355% of that has already been fulfilled in this first week
16:58and that is about 54,500 crore worth of products have been sold on e-commerce platforms
17:05such as Amazon and Flipkart followed by quick commerce platforms like Blinkit and Zepto
17:12What we are seeing is that this is a growth of about 26%
17:16as compared to the first week of last year
17:19and what we are seeing is that mobiles, electronics, home and general merchandise
17:24is what is making up 75% of these sales
17:28So, clearly the first week being very very important
17:31as a lot of households sort of postponed their decisions to buy
17:37and then as soon as these discounts and offers hit by these e-commerce platforms
17:42we see a lot of this pent-up demand getting realised
17:45So, what we are seeing is that a lot of the smartphone demand is coming from tier 2 and tier 3 cities
17:51almost 70% of all smartphone orders coming from those areas
17:55We are also seeing that smart television, air fryers, luggage, ACs, water heaters
18:02are the top selling items apart from ghee and dry fruits
18:06given the festivities around this period for the Hindu calendar as well
18:11We are seeing that toys, books as well as kitchen essentials are also seeing a 2 to 5x jump
18:19and apart from that fashion, grocery and beauty and personal care merchandise is also seeing a 2 to 4x jump
18:26What is now in focus is quick commerce
18:29We will see grocery pickup further as we move towards Diwali
18:33We will see a lot of parties coming in by a lot of people, a lot of get-togethers coming in
18:39So, quick commerce will be the next leg of growth
18:42It is expected to contribute about 8% to this entire pie of e-commerce sales
18:47about $1 billion worth products being expected to be sold in the festive period
18:52So, stay tuned for that
18:54Alright Trisha, thank you very much for that
18:56Now, a few days ago NDTV Profit had reported from Haridwar
19:01where the CDSCO had conducted checks on pharma companies that were manufacturing substandard drugs
19:08NDTV's Rahul Kumar gets us the details of an NDTV impact that we now seek
19:26And where the quality standards are not being met, there is a lot of warning
19:32It is even being said that if there is a lack of quality standards, their licenses will be revoked
19:56On the legacy of Mr. Ratan Tata and the founders of the Tata Group
20:00Founded more than a century ago, the Tata Trusts are a huge vehicle for undertaking social good on this solemn occasion
20:08We re-dedicate ourselves to carrying on our developmental and philanthropic initiatives
20:14and continuing to play our part in nation building uncaught
20:18This is the first reaction that we are now getting from Anol Tata, the chairman of Tata Trusts
20:23A short while ago, he was unanimously appointed to head the Tata Trusts
20:28which together control about 65.3% of the Tata Group
20:39The Navi Mumbai Airport witnessed a historic moment as it celebrated its first landing on the new airport
20:45with the Indian Air Force's C-295
20:48Minutes later, Sukhoi Su-30 performed a low fly-past prompting a round of applause from the gathering crowd
20:56The Navi Mumbai Airport will serve as the second airport to the MMR region
21:00and is expected to kick off domestic operations by March 2025
21:04Vikas from NDTV Profit has this report
21:10The Navi Mumbai International Airport which is coming up in Panvel region of Mumbai
21:15has seen a successful testing of its first runway with the landing of a transport aircraft today
21:20The airport is expected to come up or start its operations from March 2025
21:26and in the beginning which is considered to be the first and second phase
21:30it will have a passenger capacity of 20 million
21:33This will increase to 90 million by 2032
21:37In the third, fourth and fifth phase, the airport is expected to add 30 million
21:42In the third, fourth and fifth phase, the airport is expected to add 20 million
21:49The airport will be connected through a multi-modal transport system
21:55which will include metro, ferry services, rail and road
21:59This will also be connected to the Chhatrapati Shivaji Maharaj Terminus International Airport in Mumbai region
22:06The airport, the chief minister today said, they are planning to start the airport even before 2025 March
22:13So let's wait and watch till then
22:15and we are expecting that the airport will see its commissioning much before March 2025
22:23The Prime Minister Narendra Modi is on a two-day official visit to Laos
22:26He is attending the annual ASEAN India Summit as well as the East Asia Summit
22:32The Prime Minister is expected to hold several bilateral meetings with heads of state from ASEAN member countries
22:37This visit is a key moment for India as it will further strengthen India's cooperation with allies
22:43The Prime Minister has prioritized East and Southeast Asia
22:52The conflict in West Asia is escalating as Israeli airstrikes hit a densely populated area in Beirut
22:58According to Lebanese authorities, the strike resulted in the death of 22 civilians and injured dozens
23:03Meanwhile in Gaza, a strike killed at least 28 people at a school
23:07In fact, NDTV's Ghazali has sent us this report from Beirut
23:27This is the Freedom Square, Martyrs Square
23:30If you see in the frame, you can see all these refugees who have come from different parts of Lebanon
23:35who have been displaced due to this conflict
23:38And this entire square here, a very iconic location behind me, is the Mediterranean
23:43You can't see it from here
23:44But this entire area has now turned into a next-shift refugee camp
23:47And why is this happening?
23:48Because Israel continues with its aerial strike not only in southern suburbs or the southern Lebanon area
23:54But aerial strikes happened very close to this particular city center area last night
23:58killing more than 20 people and injuring hundreds of them
24:05Well, that's all we have time for right now on Profit360
24:08But before we go, we'd like to wish all our viewers a happy Dussehra
24:12from everybody here at NDTV Profit and the Profit360 team
24:24Profit
24:54Profit
25:24Profit
25:54Profit
26:24Profit
26:54Profit
26:56Profit
26:57Profit
26:58Profit
26:59Profit
27:00Profit
27:01Profit
27:02Profit
27:03Profit
27:04Profit
27:05Profit
27:06Profit
27:07Profit
27:08Profit
27:09Profit
27:10Profit
27:11Profit
27:12Profit
27:13Profit
27:14Profit
27:15Profit
27:16Profit
27:17Profit
27:18Profit
27:19Profit
27:20Profit
27:21Profit
27:22Profit
27:23Profit
27:24Profit
27:25Profit
27:26Profit
27:27Profit
27:28Profit
27:29Profit
27:30Profit
27:31Profit
27:32Profit
27:33Profit
27:34Profit
27:35Profit
27:36Profit
27:37Profit
27:38Profit
27:39Profit
27:40Profit
27:41Profit
27:42Profit
27:43Profit
27:44Profit
27:45Profit
27:46Profit
27:47Profit
27:48Profit
27:49Profit
27:50Profit
27:51Profit