Mumbai, Dec. 29: Cyrus Mistry, the new chairman of the Tata group, will formally take charge on Monday, company sources said today. Mistry, who was appointed chairman to succeed Ratan Tata, is the sixth chairman of the Tata empire. The group was founded in 1868 by entrepreneur and philanthropist Jamsetji Nusserwanji Tata. “Today and tomorrow being holidays, Mistry will attend office in his capacity as the group chairman only on Monday,” sources at Bombay House, the group’s headquarters, said today.
Calcutta, Dec. 29: AMW, the third-largest manufacturer of heavy commercial vehicles, hopes to garner a 25 per cent market share in construction and mining with the introduction of its 2528 TP tipper. The firm, which sold 10,000 units last year, hopes to close the year with the sale of 8,000 units.