New Delhi: Noel Tata, the half-brother of Ratan Tata has been appointed as the new Chairman of Tata Trusts, a key entity overseeing the governance of the Rs 30 lakh crore Tata Group empire. The decision to name Noel Tata as the new leader was made unanimously during a meeting in Mumbai on Friday. He will be succeeding Ratan Tata, who passed away on Thursday at the age of 86, leaving behind a remarkable legacy.

Noel Tata currently serves as the Chairman and Non-Executive Director of Tata International Limited and also chairs Tata Investment Corporation. He is also a trustee of both the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which collectively own a 66 percent stake in Tata Sons, the holding company of the Tata Group. Over the years, Noel has led Trent, the group’s retail division, turning it from a single store in 1998 into a successful chain with over 700 stores across India.

Noel Tata has also held the position of Vice Chairman at both Titan Company and Tata Steel, while playing a key role as a board member of Voltas. As Managing Director of Tata International Limited, the 67-year-old was instrumental in driving the company’s revenue growth from 500 million dollars to over $3 billion dollars between 2010 and 2021.

Noel Tata, the son of Naval Tata and half-brother of Ratan Tata has long been closely tied to the Tata family legacy. His vast experience across various Tata companies and leadership roles made him a natural choice to succeed Ratan Tata at the helm of Tata Trusts. The Parsi community’s preference for someone with the Tata surname as the group’s leader also influenced his selection. Noel is a graduate of Sussex University in the UK and has completed the International Executive Programme (IEP) from the prestigious INSEAD business school.

Noel Tata’s family is deeply connected to the Tata Group as well. His wife, Aloo Mistry, is the daughter of Pallonji Mistry, who was the largest individual shareholder in Tata Sons. Their son, Neville Tata, joined Trent in 2016 and now oversees Star Bazaar. His eldest daughter, Leah Tata, serves as Vice President at Indian Hotels Company Limited, while his other daughter, Maya, is involved with Tata Capital.

New Delhi: French President Emmanuel Macron has condoled the demise of iconic industrialist and Chairman Emeritus of Tata Group, Ratan Tata, who breathed his last at a Mumbai hospital on October 9.

In a social media post, shared by the French Embassy in India, Macron stated: “France has lost a dear friend from India. Ratan Tata’s visionary helmsmanship contributed to boosting industries in India and France, in the fields of innovation and manufacturing. Beyond this, his legacy will be marked by his humanist vision, immense philanthropic achievements and his humility.”

“I convey my deepest condolences to his near and dear ones as well as to the people of India. We will remember your lifelong commitment to the betterment of society with admiration and respect,” he said.

Battling with age-related health issues at the Breach Candy Hospital since Monday, Ratan Tata (86) breathed his last shortly before midnight on Wednesday, plunging the world of industry and corporates into gloom.

His mortal remains were taken to the NCPA Lawns on Thursday morning to enable the people to pay their last respects before the funeral at the Worli Crematorium in Mumbai in the evening.

On Thursday afternoon, Ratan Tata’s glass-topped coffin draped in the Tricolour was mounted in a closed flower-bedecked van which sped off to the Prayer Hall and Crematorium at Worli, some 12 km away.

His head, covered in a typical red Parsi prayer cap and body in traditional community attire, was visible from the coffin at the NCPA Lawns and the Prayer Hall in Worli, as Hindu, Muslim, Sikh, Christian, Parsi religious men chanted prayers and reverently stood beside him.

Hundreds of vehicles carrying the police, security, political and other VVIPs plus hordes of media persons zoomed along the Mumbai Coastal Road, even as normal traffic movement was halted for some time.

En-route, on both sides, there were many thousands of Mumbaikars, many with moist eyes, raising their hands in a symbolic ‘Goodbye, Tata’, some carrying small posters or placards with his photos as the motorcade zipped away.

Before Worli, there were many more thousands of locals who had trooped out on the roads and stood on both sides, hoping to catch a glimpse of the legendary tycoon who had touched the lives of many millions during his lifetime through his industries, social, educational, health and philanthropic activities.

At some squares and thoroughfares, there were large hoardings with photos of Tata and tributes by the common folk expressing their sentiments and gratitude to their iconic hero.

At the Worli Crematorium’s prayer hall, barely 200 VVIPs and close family members were permitted to offer wreaths and flowers to Ratan Tata’s remains kept there for some time.

Later, it was taken to the cremation spot by a police team. A police band played the Last Post, accorded him a gun salute, and removed and folded the Tricolour, which was handed over to a relative.

The social media was flooded with similar big and small gestures of Tata that left an everlasting impression on thousands of people from all over the world, directly or indirectly, his love for dogs and a full-fledged animal care hospital at a cost of Rs 165 crore in Mahalaxmi for 200 ‘patients’, that was inaugurated in July 2024, and other touching experiences.

Tata Consultancy Services (TCS) posted a 5% rise in its consolidated net profit for the second quarter of the fiscal year 2025, which ended in September. The company’s net profit reached Rs 11,909 crore, up from Rs 11,342 crore in the same period last year. However, this result was slightly below market expectations, as analysts had forecast a profit of Rs 12,450 crore.

TCS also reported an 8% year-on-year increase in its revenue, which stood at Rs 64,259 crore for the quarter, driven by growth across several sectors.

The company’s board has approved a second interim dividend of Rs 10 per share, which will be paid on November 5. The record date for this dividend has been set for October 18, 2024.

Performance overview

TCS noted that trends seen in previous quarters, such as caution in client spending, continued into this quarter. Despite global uncertainties, especially in the geopolitical sphere, the company’s largest vertical, Banking, Financial Services, and Insurance (BFSI), showed signs of recovery. TCS also highlighted strong performance in its growth markets.

K Krithivasan, CEO and Managing Director of TCS, said, “Amidst an uncertain geopolitical situation, our biggest vertical, BFSI, showed signs of recovery. We also saw a strong performance in our Growth Markets. We stay focused on sharpening our value proposition to our clients, employees, and other stakeholders.”

In constant currency terms, the company’s revenue grew by 5.5% year-on-year during the June to September period. However, its operating margin for the quarter declined slightly by 0.2%, reaching 24.1%.

Key growth drivers

The company’s growth was mainly led by the energy, resources, and utilities segment, which grew by 7%. The manufacturing sector also performed well, with a 5.3% rise. Other segments such as BFSI, consumer, and life sciences saw a marginal growth of 0.1% each.

However, the technology and media services sectors experienced a 10% decline in constant currency terms, reflecting challenges in these areas.

Samir Seksaria, CFO of TCS, said, “We made strategic investments this quarter in talent and infrastructure to ensure sustainable growth. Our disciplined execution resulted in superior cash conversion. Our longer-term cost structures remain unchanged, and we remain confident in our ability to continue delivering industry-leading profitable growth.”

New Delhi: Prime Minister Narendra Modi on Thursday before embarking on a two-day Laos visit to attend the 21st ASEAN-India Summit and the 19th East Asia Summit spoke with Ratan Tata’s brother, Noel Tata, and expressed condolences.  

Union Home Minister Amit Shah will attend Ratan Tata’s funeral on behalf of the Government of India.

Earlier, PM Modi in a series of posts on X expressed grief on the demise of Ratan Tata, the Chairman Emeritus of Tata Sons, who passed away at the Breach Candy Hospital following age-related health conditions.

Prime Minister Narendra Modi called Ratan Tata a “visionary business leader, a compassionate soul and an extraordinary human being.”

“He provided stable leadership to one of India’s oldest and most prestigious business houses. At the same time, his contribution went far beyond the boardroom. He endeared himself to several people thanks to his humility, kindness and an unwavering commitment to making our society better,” the PM wrote on X.

He hailed Ratan Tata’s most unique aspect of “his passion towards dreaming big and giving back.”

“He was at the forefront of championing causes like education, healthcare, sanitation, animal welfare to name a few,” PM Modi said.

Recalling his interactions with Tata, Modi said, “My mind is filled with countless interactions with Shri Ratan Tata Ji. I would meet him frequently in Gujarat when I was the CM. We would exchange views on diverse issues. I found his perspectives very enriching. These interactions continued when I came to Delhi. Extremely pained by his passing away. My thoughts are with his family, friends and admirers in this sad hour. Om Shanti.”

Ratan Tata, 86, breathed his last at the Breach Candy Hospital where he was admitted on Monday for certain age-related health issues.

Expressing “a profound sense of loss” while bidding farewell to Ratan Tata, the family said in an early morning update that his mortal remains will be taken to the NCPA Lawns at around 10.30 a.m. to enable people to pay their last respect and homage to the departed soul. At around 4 p.m., Ratan Tata’s body would embark on the final journey from Nariman Point to the Worli Crematorium prayer hall for the last rites.

At the crematorium, the mortal remains, draped in the national flag, will be given a police gun salute and then will be consigned to the flames, said the family.