Jewel in the crown: TCS still leads for Tata

After studying law I vectored towards journalism by accident and it's the only job I've done since. It's a job that has taken me on a private jet to Jaisalmer - where I wrote India's first feature on fractional ownership of business jets - to the badlands of west UP where India's sugar economy is inextricably now tied to politics. I'm a big fan of new business models and crafty entrepreneurs. Fortunately for me, there are plenty of those in Asia at the moment.

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Image: Shutterstock 
 
A year-and-a-half after N Chandrasekaran took over as chairman of Tata Sons, the group continues to be dependent on IT major Tata Consultancy Services (TCS), which has almost doubled in market cap and increased its dividend payout to the group. Titan has been another gainer.

An upswing in the steel cycle and the inking of a joint venture with Thyssenkrupp resulted in a re-rating of Tata Steel before debt concerns due to the buyout of Bhushan Steel saw it give up a fifth of those gains.

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Tata Motors is at its lowest market cap in five years as domestic passenger car volumes fail to impress and the company continues to wait for the announcement of the Brexit terms.
 
One bright spot has been the sale of the loss-making telecoms business to Bharti Airtel marking its exit from the consumer telecom space.

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