Skip to main content

TATA CONFERRED WITH BRITIAN's HIGHEST AWARD

Ratan Tata, the former chairman of the Tata Group which is one of the largest employers in Britain, has been honoured by Queen Elizabeth with a GBE (Knight Grand Cross), one of the UK's highest civilian awards. "The Queen has been graciously pleased to approve the following honorary British awards in 2014... GBE for Ratan Naval Tata, KBE, for services to UK/India relations, inward investment to the UK and philanthropy," an announcement by the Foreign and Commonwealth Office (FCO) said yesterday. Tata, 76, is the only Indian among five foreigners to be awarded as part of the 'Honorary British Awards to Foreign Nationals' for 2014, others including Japanese and Greek nationals for services to economic and cultural ties with the UK. Tata, who now holds the honorary position of Chairman Emeritus of Tata Sons, had been conferred a KBE (Knight Commander) by the Queen back in 2009 - a year after the Indian conglomerate under his chairmanship had acquired the flagging British luxury car brands Jaguar Land Rover (JLR). The Tata Group has since revived the fortunes of the company and also emerged as one of the largest employers in Britain, employing nearly 60,000 people across the country. British Prime Minister David Cameron, whose office would be behind this year's honour recommendations to the Queen, has often praised the Tatas for single-handedly lifting Britain's manufacturing fortunes. Earlier this year, he hailed JLR as a "great story" of the 500 million pounds investment by Tata Motors in a new plant in the West Midlands region. Cameron had said: "This is a great story of the future of Britain. We congratulate Jaguar Land Rover for the investment they are making, which epitomises what we need to happen to the British economy. "With 85 per cent of production going overseas, everything that is being done here is what we want. This shows Britain has an amazing high-tech, advanced manufacturing future. We are very excited." Besides his business contributions, Ratan Tata is also recognised for his contributions across various fields in the UK including academia. The Sir Ratan Tata Fellowship, now in its 18th year, works in collaboration with the London School of Economics to offer an eight-month fellowship to scholars in the social sciences with experience of research on South Asia to work at the LSE Asia Research Centre (ARC).

Comments

Popular posts from this blog

JIO TARIFF CICK FOR TELECOM STOCKS

Telecom stocks today surged up to 8 per cent after the recent increase in Reliance Jio tariffs, which is largely seen as positive for the sector. Shares of Bharti Airtel jumped 4.99 per cent to close at Rs 497.50 on BSE. Bharti Airtel was the biggest gainer among the 30-share index components. The scrip of Idea Cellular soared 7.74 per cent to end at Rs 98.15 and Reliance Communications zoomed 7.60 per cent to Rs 17.70. Reliance Jio made its service dearer by about 15 per cent for its popular 84-day plan at Rs 459 from October 19, under which subscribers get 1GB 4G data at high speed per day. The company restructured its various schemes by reducing their validity period. The recent increase in Reliance Jio tariffs will increase its average revenue per user by up to 20 per cent and is a positive for the telecom sector, which is seeing a rapid consolidation, says a Philip Capital report. Established telecom sector players have seen huge reduction in their margins. Idea Cellular and Reli…

STOCK MARKET WELCOME NEW YEAR WITH LOSS

Sensex drops 244 pts
A late sell-off in auto, banking and IT shares pulled back the benchmark BSE Sensex from record high level to close down by 244 points, its biggest single loss in past one month, on the first trading day of 2018. Investors preferred to book profits at record highs amid concerns over fiscal slippages and rising crude oil prices and absence of cues from global markets which were closed for the New Year holiday. The benchmark Sensex touched a low of 33,766.15 before settling lower by 244.08 points, or 0.72 per cent, at 33,812.75. This is the biggest single-day fall since December 1 when the index had lost 316.41. The 30-share index had closed at an all-time high of 34,056.83 in the last session of 2017 on Friday. Also, the 50-share Nifty cracked below the 10,500-mark to hit a low of 10,423.10 before settling 95.15 points, or 0.90 per cent down at 10,435.55. Stocks opened on a weak note and remained range-bound for the better part of the day but an intense sell-off in…

NIFTY EARNINGS FLAT IN 2018

UBS Cautious Note

Projecting zero returns from the Nifty, Swiss brokerage UBS has projected a 10 per cent cut in its index target at 10,500 for calendar 2018, even as it remains positive over the long-term. "Top-down, we forecast Nifty earnings growth will recover from 9 per cent in fiscal 2018 to 13 per cent in 2019, but driven largely by financials," the brokerage said in a report. "However, earnings growth is likely to disappoint against consensus forecast of 22 per cent growth for fiscal 2019, implying a 10 per cent cut," it added. Accordingly, the brokerage estimates "no returns from the Nifty in 2018" and has set the index target at 10,500 for this December. The report noted that a sharp earnings recovery, with continued robust macro stability appears priced in by the markets. "A sharp earnings recovery appears priced in. The markets are already close to our 2018 target, given optimistic fiscal 2019 consensus earnings expectations, which build …