Tata Group succeeding with its bid to take over an iPhone assembly plant in southern India would give a boost to the India’s ambitions to become an electronics manufacturing hub, a top executive at the conglomerate’s software services arm said.
N Ganapathy Subramaniam, operating chief at Tata Consultancy Services Ltd., Said :
“I am not directly involved in that, but it should be really good for India because this is going to create an opportunity in India to manufacture electronics and microelectronics,”.
The $128 billion (approx. Rs. 10,50,100) Tata Group has in talks for months with Apple’s Taiwanese supplier Wistron and is looking to seal the purchase of its assembly factory near Bangalore by the end of March.
The salt-to-airline conglomerate has expanding its presence in technology, and India’s government has taken steps to challenge China’s dominance in electronics.
N Ganapathy Subramaniam and Tata Group Chairman Natarajan Chandrasekaran are brothers, hailing from India’s southern Tamil Nadu state.
Shares of TCS fell as much as 2.7% after the company report a net profit of 108.5 billion rupees ($1.3 billion) in the 3 months through December, missing the average analyst estimate of 110.85 billion rupees.
N Ganapathy Subramaniam Said :
“It’s a very very broad based, mixed environment, but given what we have achieved as momentum and then the qualified pipeline that I see, I think it looks alright,”.
TCS announce a special dividend of 67 rupees a share, a move that’s in line with its capital allocation policy, Subramaniam said.
TCS, Asia’s biggest outsourcer, has enough cash to look at mergers and acquisitions and other strategic opportunities in areas including cybersecurity and cloud solutions, N Ganapathy Subramaniam said.
