The Tata group is on a roll. Tata Motors has doubled its share of the car market over the past year and Tata Steel is enjoying a price boom, while Tata Consultancy Services and Titan continue to chug along. The group is still heavily in debt, but the burden is shrinking. Investors are enthused; the group’s market capitalisation has soared over the past year and more. From accounting for about 90 per cent of the group’s market value, TCS’s share is down to two-thirds – which tells us that the software services company is no longer the group’s sole bread-winner.
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