Tata Sons is not looking to monetise its investments to raise capital: N .ChandrasekaranÂ
Mumbai/IBNS: Tata Sons chairman N .Chandrasekaran on Friday said the company is not looking to monetise its investments to raise capital.
"Tata Sons is not looking to monetise its investments to raise capital. There are recent mis-informed and completely unfounded rumours regarding the Tata Group, in some sections of the print/social media," the chairman said in a statement.
"Tata Sons is in strong financial position with adequate cash flows to support the group companies and new growth initiatives," he said.
The Chairman made the remarks after amid reports that that Tata Group of companies have taken a huge hit due to nationwide lockdown and is struggling to allocate funds to stressed group companies.
He said: "The Tata group companies, like all other companies, are facing both challenges and opportunities arising out of the pandemic and resulting economic situation, based on the industries and markets they operate in. All our group companies are progressing well responding to these challenges and opportunities and we are confident that they will emerge stronger."
The chairman also issued the statement after its board meeting on Friday.