MUMBAI: Tata Sons Ltd is not looking to monetise any of its assets to raise capital, the company on Friday said after its board meeting. The board had met to take stock of thecovid-19 pandemic and its impact on Tata group of companies.
"Tata Sons is in strong financial position with adequate cash flows to support the group companies and new growth initiatives. Tata Sons is not looking to monetise its investments to raise capital," said N Chandrasekaran, chairman, Tata Sons, said in a statement.
Companies across the board have suffered due to the lockdown to contain the spread of covid-19 and economic slowdown. The ones that suffered the most are from hospitality, auto, aviation and consumer goods. Tata group has companies across these sectors.
The Tata group acknowledged that its companies, like all other firms, face challenges and find opportunities from the pandemic and the 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," said N Chandrasekaran.
The board also planned strategies for the set of companies that need more liquidity push to ensure that they are able to weather the storm brought about by the pandemic, said a person with direct knowledge of the matter.
The group is well poised to capture new opportunities and is focused on navigating the current situation and profitable growth, Tata Sons said in the statement.