Thursday, October 14, 2021

Tata Group betting on new age businesses; looking to consolidate aviation verticals: Bhaskar Bhat

Tata Group has been in the thick of news in recent times. Right from bringing the Maharaja (Air India) back home to the EV deal with TPG. Subsequently. Tata Motors and Tata Power are firing away on Dalal Street and on Wednesday, the stocks saw a huge move. Almost all the listed Tata entities were up, and all together, they added Rs 70,000 crore in market capitalization in just a day.

Bhaskar Bhat, Director, Tata Sons discussed all that's ticking at Tata Sons in an interview with CNBC-TV18.

“All the Tata Group companies have performed extremely well and it is not just on the stock market but it is also an actual performance of generating cash,” he said.

The group's renewable energy push has been a prime driving force and experts believe that a long-term outlook by the group has pleased Dalal Street.

“It is not just Tata Consultancy Services (TCS), Tata Power is into renewables. Tata Motors is the market leader in electric vehicles (EVs). So it is not just a story on valuations and the market giving us credit, it is also a real improvement. You have seen the Titan story as well. The companies are getting into new-age businesses,” he said.

When asked for the game plan for the aviation sector, the Tat Sons' director said that he wouldn’t want to talk long-term game plan but explained the rationale from the company's perspective.

"We did have a position and a presence in the market (aviation). With that kind of market share which is 10-13 percent, you are no market leader and it doesn't make sense. So, to get to a reasonable market share, which is 25 percent, and Air India is a national asset and as a group, we are proud as the chairman stated that the government has vested this responsibility with us of running the national carrier, the carrier which carries the name India," he said.

14/10/21 Sonia Shenoy |Surabhi Upadhyay/CNBC TV18

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