Mumbai: Ahead of a Tata Sons board meeting on Friday, chairman N Chandrasekaran is understood to be sharply recalibrating the group’s business strategy.
Into his fourth year as chairman, Chandrasekaran is keen to find solutions to the problems facing the group’s money guzzlers such as Tata Steel Europe, Tata Motors-Jaguar Land Rover and Tata Power.
He is also likely to suggest prioritising capital allocation to businesses such as medical devices and the creation of a large-scale digital platform, which offer better growth prospects.
The board meeting, to be held via video-conferencing, is expected to be significant in terms of preparing a post-Covid-19 road map, officials said. Approval will also be sought for fund-raising by Tata Motors and JLR, which are facing a challenging environment.
Roping in big investors for JLR and UK steel business will also be considered if talks with British government fail. Tata Steel and JLR are in talks for financial aid under the Coronavirus Large Business Interruption Loan Scheme. However, not much headway has been made, officials said. The group is not keen to let government hold stakes in the firms, an official said.