The Indian conglomerate and the Singaporean state investor are in the final stages of discussions around the interest of about 20% in Tata Play, the report added.

Tata Group and Temasek didn’t immediately respond to Reuters’ emails seeking comment.

The airline’s new logo includes a design with golden, red and purple colours, and will replace the old logo of a red swan with orange spokes.

The rebranding by Tata, which comes after years of under-investment under government control, will not completely do away with the iconic mascot of a cheerful Maharaja in a red turban and with an outsized moustache.

It would stay on in some elements of the design, but would not be as prominent, CEO Campbell Wilson said, adding that all of the airline’s widebody planes will be refurbished with the new livery by 2025.

Since taking control in 2022, Tata has spent millions of dollars to update Air India’s old planes, while also placing an order for hundreds of new jets.

It has also upgraded many of its paper-based systems and streamlined operations to better compete with domestic rival IndiGo and global airlines like Emirates.

“The vision we have for the airline is also in the backdrop of a new resurgent India where the aspirations of everyone are limitless,” Air India chairperson N. Chandrasekaran said.

Over the past year, Air India has expanded its network and flights to several new domestic and international destinations, but it still faces challenges in operating a seamless and timely schedule of flights.

As the airline grows, CEO Wilson said, it wanted to move beyond the Maharaja, which may not be as well known outside India, while retaining the elements of the mascot that spell hospitality and service.

“In India, the Q2 (July-September) realisation will be about 3,000-3,100 rupees per tonne ($36.65-$37.87) lower than Q1 (April-June),” T.V. Narendran told Reuters in an interview, adding that prices in Europe would be 38 pounds per tonne lower in July-September.

The company, backed by India’s Tata Group, sees Indian steel industry prices in line with prices globally and not impacted by aggressive imports, Narendran said.

China remained the second-biggest steel exporter to India in the April-June quarter, selling 0.4 million tonnes of the alloy, up 58% from the same period a year earlier.

Narendran said Chinese exports to India were “not yet a big threat.”

However, economic performance in China and India would likely steer prices during October-December, he added

On Monday, Tata Steel reported a staggering 92% slump in first-quarter profit, hurt by lower alloy prices and expenses related to a pension scheme in Britain.

The company has been in talks with the UK government to seek support for its transition to the so-called “green steel” – produced without the use of heavily polluting fossil fuels such as coal in the melting process – as some of its downstream assets are nearing the end of their cycle.

However, its troubled UK operations did not impact the overall business much, Narendran said.

“There is an urgency in our conversation with the (UK) government. The government understands that,” he added.

The steelmaker is also in talks with its supplier BHP Group to explore decarbonisation projects, he said.

Tata Steel expects an overall improvement in its balance sheet during the rest of the year due to improved margins and cash flow, among others, Narendran added

The coffee processor’s net profit attributable to shareholders rose to 474.8 million rupees ($5.8 million) in the quarter ended June 30 while revenue from operations rose nearly 6% to 7.01 billion rupees.

“Tea plantations’ performance was robust in the quarter, driven by higher crop production and lower cost of production,” said managing director Chacko P Thomas.

Several coffee processors, including Tata Coffee, said in recent months that demand from restaurants, cafes and offices bounced back as people ventured out more frequently.

Shares of Tata Coffee, which exports to over 40 countries, are up 1.2%.

The company, which also supplies to chain stores of a joint venture between Starbucks (SBUX.O) and parent Tata Consumer Products (TACN.NS), said revenue from its value-added products business rose 3% from a year earlier.

The segment constitutes almost 82% of the company’s total income and includes the production and sale of roasted, ground, and instant coffee products.

Last month, Reuters reported that Starbucks is revamping its strategy in India, changing prices and expanding into smaller cities amid fierce competition from domestic startups.

Tata Coffee’s total expenses, however, rose more than 8%, making its earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin contract to 16.73% from 17.61% a year earlier.

The company said that lower bag volumes and higher input costs impacted the performance of its unit, Eight O’clock Coffee.

Tata Consumer Products will report its earnings next week

The company also launched its new Generative AI Enterprise adoption offering for clients, making a bet on the rapidly growing artificial intelligence space.

The 10-year contract, signed in early 2018, involved TCS working with U.S.-based Transameria to enable the digitization of more than 10 million policies into a single integrated platform.

Administration of those policies, including life insurance and retirement and investment solutions, will be moved to a new servicing model, which will take about 30 months, TCS said.

“It’s more of a sentimental negative rather than a big impact on the financials of TCS,” said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.

Indian IT companies, which draw a bulk of their revenue from the United States and Europe, have flagged a slowdown in the telecom and communication segment as clients contemplate spending cuts and project rampdowns to save cash.

“We don’t see a big impact because of this. But yes, it’s a sign that the demand environment is not very good” Khemka said.

TCS stock is currently trading 1.3% lower at 3,175 rupees.

Compared to the size of its population, India’s car market is tiny. Tata Motors dominates its electric vehicle (EV) sales, which made up just 1% of India’s total car sales of about 3.8 million last year.

A joint statement on the memorandum of understanding, between Tata’s unit Agratas Energy Storage Solutions and the government of the western state of Gujarat, said work on the plant, to be based in Sanand, northern Gujarat, was expected to start in less than three years.

It would have initial manufacturing capacity of 20 Gigawatt hours (GWh), which could be doubled in a second phase of expansion, the statement said.

“The plant will go a long way in contributing to the development of the EV ecosystem in Gujarat and India,” Vijay Nehra, an official in the Gujarat state government told Reuters.