Abstract
The Tata Group founded by Jamsetji Tata is a global enterprise headquartered in India which consists of over 100 operating countries in more than 100 countries across six continents. The Group exports products and services to over 150 countries. In 2013, the Tata Group had revenues of $103.27 billion. Tata Group is known for its strong values and business ethics. Each Tata company operates independently and has its own board of directors and shareholders. There are 32 publicly listed Tata enterprises with a combined market capitalization of approximately $137 billion as of early 2015 with a shareholder base of 3.9 million. The three major flagship companies of Tata Group are Tata Steel, Tata Motors, and Tata Consultancy Services. Tata Steel is one among the top 10 best steel makers. Tata Motors is among the top five commercial vehicle manufacturers in the world. Tata Consultancy Services is among the top 10 global IT service companies in the world. Tata Group with its pioneering and entrepreneurial spirit has established industries of national importance in sectors like steel, hydropower, hospitality, and airlines in India. Discounted cash flow valuation and relative valuation is used for valuing Tata Motors. In discounted valuation,models like DDM, FCFE and FCFF are used.
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