Tuesday, 11 July 2017

Tatas to inject Rs 12,000 crore more in telecom arm

The Tata group’s holding company, Tata Sons, has decided to infuse Rs 12,000 crore more into its telecom arm in the current financial year, so that it can repay its debt and improve its financial metrics. This follows Tata Sons’ investment of Rs 2,000 crore into Tata Teleservices in financial year 2016-17. The investment was approved by the board led by Group Chairman N Chandrasekaran, who has chalked out an elaborate plan to tackle the loss-making businesses of the Tata group.

Source : Business-standards