Residents of the states of Goiás and Mato Grosso do Sul will have access to a new mobile telephony operator, Brisanet, by the end of this month. According to a Teletime report, the offering will begin on the 26th, starting with smaller municipalities with populations under 30,000 inhabitants.
Brisanet has experience in the market, having previously focused on the Northeast states. Currently, it ranks as the fourth largest fixed broadband operator in the country, holding a 2.8% share, trailing Claro, Vivo, and Nio. In the mobile segment, the company began operating in the Northeast region in 2023, after obtaining spectrum licenses for 3.5 GHz (band n78) and 2300 MHz (band 40/n40) during the 2021 auction, in which other companies also acquired licenses, whether national or regional.
In May, Brisanet and other competing companies, such as Unifique, Amazônia 5G, and Iez!, also secured licenses for the 700 MHz band, which allows for greater capacity and coverage, increasing their service obligations. To date, Brisanet leads among the three new mobile operators, boasting just over one million customers, compared to the nearly 338,000 customers of Unifique and an undisclosed number by Iez! to Anatel as of June.
Unlike its operation in its home area, the introduction of mobile plans in the Central-West will be done through regional partners. This tactic is being adopted by the other two entrants (Unifique and Iez!), as well as several MVNOs. Superficially, this approach makes sense because it leverages the infrastructure already established by providers in these cities, in addition to reducing marketing costs for Brisanet. The company itself stated that in cities with more than 20,000 inhabitants, commercialization will be the direct responsibility of Brisanet.
Brisanet's mobile plans currently start at R$ 29.99 (valid for the first 12 months) with 20 GB and can go up to R$ 59.99. In locations without proprietary coverage, Brisanet devices use the TIM network, but roaming usage is less costly than what is allowed on the proprietary network. The company also offers 5G FWA for R$ 129.90 with 500 GB or for R$ 179.90 with 1 TB.
Brisanet's expansion into the Central-West can be explained by the fact that, in 2021, it also secured the license to offer 5G telephony in the region. The initial coverage goals from the auctions (both 2021 and 2026) are approaching: by December 31st, the company must cover 30% of cities with up to 30,000 inhabitants with 5G in its coverage area, in addition to fully covering the unserved sections of BR-101 and 20% of a list of localities without 4G coverage.
62 cities in Goiás and 53 cities in Mato Grosso do Sul will be covered, with a projected investment of R$ 100 million, and another 115 cities will be included in 2027. CEO Roberto Roberto Nogueira told Teletime that he intends to cover all cities with up to 30,000 inhabitants in both the Northeast and Central-West by 2029, anticipating the deadline stipulated for industry companies.
At the moment, extremely competitive offers are not expected during this expansion phase, given that Brisanet seeks to increase its ARPU (average revenue per user) in the mobile segment, moving from the current R$ 20 to R$ 30 next year. The intention to generate greater return from the customer base reflects an industry trend, where large corporations are already implementing new packages with initial values equal to or higher than R$ 30.
The exit of Natarajan Chandrasekaran, chairman of India's largest conglomerate Tata, has created uncertainty regarding the group's five-year investment plan. While the company is implementing a massive reinvestment program, Chandrasekaran's decision to step down in February leaves a leadership vacuum.
According to sources familiar with the situation, some current and planned projects of the conglomerate may slow down, be scaled back, or be stretched over time until a new leader is appointed. This transition is particularly significant as Noel Tata, chairman of Tata Trusts, now plays a decisive role in managing the holding company.
Noel Tata recently voiced objections to the expansive spending led by Chandrasekaran, which amounted to $120 billion over the next five years. Instead, he favors a more measured approach to capital expenditure with quicker returns.
The conflict between the two leaders has reached a climax and will impact the entire country, as Tata is a reflection of the broader Indian economy. The company's brand portfolio includes luxury cars Jaguar Land Rover, the Taj hotel chain, Air India, and everyday goods like Tetley tea. Beyond the consumer sector, the group has made strategic bets in areas such as semiconductors, electric vehicle batteries, and AI-based data centers, making it an important partner in implementing Prime Minister Narendra Modi's program to transform India into a global manufacturing powerhouse.
Mumbai-based stock strategist Kranti Batini noted that 'the ball is now firmly in Noel Tata's court.' He added that replacing a technocrat of Chandrasekaran's caliber, who deeply understands rapidly changing technological landscapes, will be a serious challenge.
The Chairman of Tata Trust leads a collective of 13 charitable organizations that hold a two-thirds stake in Tata Sons. Noel's tightening control over the conglomerate was prompted by disagreements with Chandrasekaran regarding the pace and duration of capital allocation. Chandrasekaran's departure resolves the issue of competing visions for the conglomerate but does not offer an obvious successor.
Utkarsh Sinha, Managing Director of boutique investment bank Bexley Advisors, stated that Chandrasekaran 'controlled the investment-intensive transformation of Tata Group in aviation, electronics, semiconductors, and the digital sphere.' He suggested that his departure might signal a greater emphasis on financial discipline, consolidation, and extracting profits from these investments, rather than continuing at the same pace of expansion.
Sources reported that the board of directors of Tata Sons began pushing for strategic adjustments even before Chandrasekaran's resignation was announced. Led by Noel, the directors insisted that senior management review or slow down many of the most capital-intensive projects, particularly investments in the flagship chip factory, the airline, and the emerging consumer technology business.
The board demands proof of return before approving further spending. Unlike his younger brother Ratan Tata, who acquired Jaguar Land Rover and Corus in the UK and had a penchant for nation-building projects, Noel oversaw the disciplined expansion of the fast-fashion giant Trent Ltd., which he managed for over ten years. This focus on profit is increasingly influencing decisions within the Tata Group since he took office as chairman of Tata Trusts in 2024 following Ratan's death.
Few industrial competitors of Tata have taken such risks in investing in advanced technology sectors. V.K. Unni, Professor of Public Policy and Management at the Indian Institute of Management Calcutta, noted that competitors such as Reliance Industries Ltd. and Adani Group have focused on land-related infrastructure, energy, fiber, and cloud computing that powers AI, utilizing 'core strengths with far less technological risk.' However, Unni emphasized that Tata aims for higher returns with a riskier strategy, requiring 'constant reinvestment of billions to match global return curves.'
Under Chandrasekaran's leadership, the Group was willing to take this risk, following its history as a company that stepped forward whenever policymakers decided the country needed expertise it did not yet possess. This spirit contributed to the development of domestic steel, commercial aviation, and IT industries.
Company leaders fear that new leadership, unwilling to ambitiously spend on long-term projects, may fail to replicate this success in sectors such as semiconductors, aviation, and industrial battery cells.
No project is more significant than the Tata Sons chip factory—an attempt to create a giant comparable to Taiwan Semiconductor Manufacturing Co. For the Modi administration, Tata's development offers the prospect of transforming Dholar into an innovation hub comparable to Silicon Valley. This also aligns with India's declaration to foreign tech investors as an attractive alternative to China and the national goal of reducing dependence on its Asian neighbor.
This project has an unusual level of oversight. One participant in the project revealed that the factory team reports not only to Tata management but also to the Government of India.
However, Chandrasekaran's successor will have to contend with the slow technological progress that has hampered the semiconductor venture. Although the Tata Electronics chip packaging plant in Assam remains on schedule for opening next year, sources indicated that various operational and technology access delays have prompted the group to temper expectations, starting with less complex technology.
Meanwhile, a kind of contraction is occurring in the Agratas battery division. Facing a widening cost gap compared to Chinese manufacturers and failing to secure previously explored technology partnerships, the business has abandoned plans for accelerated commercial production of battery cells. The focus is on proving the technology before investing billions in scaling up.
The revival of struggling Air India is another huge challenge after the airline incurred record losses for the year ending March 31 due to a plane crash in June 2025 and geopolitical conflicts that extended flight routes. The group has already scaled back its ambitions for the airline, acquired four years ago in one of the country's largest privatizations. It will soon have a new CEO.
Noel is also raising standards in non-manufacturing areas. When management requested approval for additional funding of around $1 billion to support operations and cover ongoing losses in Tata Digital, the consumer technology business directors objected. The board demanded a more detailed plan explaining how the business would reduce losses, improve execution, and justify further investment.
This response triggered a wide restructuring within Tata Digital. The company is cutting management layers, reducing staff in certain parts of the organization, and bringing in new leadership in key areas to improve operational efficiency.
A more cautious approach to investment comes as Tata Consultancy Services Ltd.—the financial backbone of the conglomerate for many years—enters a more uncertain period. India's largest software exporter continues to bring in billions of dollars annually, but slowing corporate technology spending and a shift towards AI have undermined its strong position, according to sources.
In a preemptive move to strengthen the company's balance sheet, the TCS board appointed a new layer of senior executives under CEO K. Kritivasan over the last 18 months, including an COO, Chief Strategy Officer, and Head of M&A. TCS is also actively exploring acquisition opportunities and AI infrastructure investments after historically relying almost exclusively on organic growth.
Attention now shifts to whom Noel will appoint as Chandrasekaran's successor. The question of succession has always been complex within the Group, unlike its strictly family-run counterparts. Founded in 1868 by Jamsetji Tata of Parsis descent, the conglomerate was managed by the Tata family until Ratan Tata handed over control to Cyrus Mistry in 2012. Just four years later, Ratan led a corporate upheaval to remove his successor, leading to a race for a new chairman, as Ratan, being a lifelong bachelor, left no children to take the post.
Chandrasekaran became a suitable candidate at that time. As a technocrat who spent 30 years at TCS—eight of them as CEO—he had already transformed the software giant into India's most valuable company and was considered a reliable pair of hands. Despite being the only non-founder and non-heir at the helm of a major Indian conglomerate, Chandrasekaran formulated his vision for Tata with unusually long-term goals. He termed the conceptual framework of these extended project timelines 'cathedral thinking,' borrowing the term coined by Australian philosopher Roman Krznaric to evoke medieval builders in Europe laying foundations for structures they would never see completed.
His successor is unlikely to have such room for dreaming. Deven Choksey, Managing Director of investment advisory firm DRChoksey FinServ, stated that whoever takes the chairmanship 'will face a harsher environment.' He added that 'an increasingly assertive board of trustees will make it harder for the next leader to act with the same degree of autonomy.'
}} , 2. {The venture capital firm Bluehill.VC, specializing in advanced technologies and based in Chennai, announced the completion of fundraising for its first fund totaling 400 crore rupees. This closing included the full subscription of a 50 crore rupee 'greenshoe' option, which allows the fund to raise more capital than initially planned if there is sufficient investor demand.
In an official statement, the firm reported that the fund attracted significant participation from institutional investors, including SIDBI, the governments of Kerala and Uttar Pradesh, as well as family offices, successful entrepreneurs, and Ultra High Net Worth Individuals (UHNIs) from India and the Middle East. It is planned that 80 crore rupees will be deployed over the next six months.
Bluehill.VC invests in startups ranging from seed rounds to Series A that develop patented technologies in areas such as energy, electric vehicles (EV), nuclear energy, semiconductors, advanced materials, defense, space, water supply, manufacturing, robotics, industrial technology, and the Internet of Things (IoT).
The company's portfolio already includes enterprises like EtherealX, which develops reusable rocket propulsion systems; Zebu Intelligent Systems, a drone countermeasure technology developer closely collaborating with the Indian Armed Forces; Helex, which develops advanced therapy for patients with genetic kidney diseases; Sophrosyne Technologies, a fabless semiconductor startup creating advanced biosensor SoCs for wearable and digital medical devices; and optoML, which works on a comprehensive Analog AI platform based on FinFET with integrated optical interconnects.
According to the statement, the new fund aims to form a concentrated portfolio of 15–16 companies, investing an average of up to $1–2 million in the first institutional round, while closely engaging with founders through its 'invest and develop' approach.
Manu Iyer, Managing Partner and Co-founder of Bluehill.VC, commented on the fund closure, noting that venture capital has primarily focused on consumer, software, and internet businesses over the last two decades. He expressed his conviction that the next wave of sustainable value will be created by companies solving complex engineering and scientific challenges. Iyer emphasized that India possesses the necessary talent, policy momentum, and entrepreneurial potential to create globally competitive enterprises in the fields of defense, semiconductors, space, energy, and advanced manufacturing.
He added that the final closing of the first fund is a strong confirmation of this belief and also reflects investor confidence in the firm's ability to early identify outstanding founders and collaborate with them long-term. The company's ambition, he said, is simple—to help build Indian companies that do not just participate in global markets but define them.
Sridhar Partasarathy, Managing Partner and Co-founder of Bluehill.VC, noted that investing in advanced technologies requires a special level of conviction. He explained that such companies require more time to build, necessitate deeper technical understanding, and solve problems few are willing to tackle. However, when they succeed, they create hard-to-replicate, globally competitive technologies capable of defining entire industries.
Partasarathy continued that Bluehill.VC's focus is on founders who build projects from scratch, achieving genuine technological breakthroughs rather than mere incremental improvements. He believes that exceptional founders in advanced technology are not limited to leading academic institutions but emerge from research labs, manufacturing clusters, defense programs, and universities across the country. The firm strives to discover these founders at an early stage, support them with full conviction, and remain with them throughout the process of building globally significant companies.
Shares of companies in the Tata Group lost nearly 44,000 crore rupees in market capitalization over two trading days after N. Chandrasekaran decided on Wednesday not to run for the position of Chairman of Tata Sons.
Over the last two trading days, the combined market capitalization of 26 Tata Group companies decreased by 43,812 crore rupees, reaching 27.04 trillion rupees as of Thursday at 09:23 AM. According to Capitaline Plus data, the total market capitalization of Tata Group companies was 27.48 trillion rupees on Tuesday, August 11, 2026.
According to the data, Tata Consultancy Services (TCS) was the biggest loser over these two days, absorbing 81 percent, or 35,421 crore rupees of the total decline in market capitalization across Tata Group companies. Titan Company suffered the second-largest loss with a decrease of 7,040 crore rupees, followed by Tata Steel (3,371 crore rupees), Tata Consumer Products (2,266 crore rupees), Trent (1,717 crore rupees), and Tata Motors Passenger Vehicles (2,266 crore rupees).
Analyst Anirudh Garg, Fund Manager and Partner at INVasset PMS, noted that the overall decline in sentiment was driven by realistic expectations, with the magnitude of this decline being inversely proportional to clarity on succession issues. He added that the previous leadership crisis in 2016 caused fluctuations in Tata shares, which later recovered due to the restoration of operational performance, and Mr. Chandrasekaran's appointment in 2017 was met with growth as it eliminated uncertainty.
Garg warned that the long-term risk is not the departure of any single person, but prolonged friction between the Trusts and Sons, as the holding company, which is at odds with its main shareholder, ultimately taxes capital distribution across the entire group.
Meanwhile, on the exchanges, Tata Motors Commercial Vehicles (CV) shares moved contrary to the general trend, adding 10,533 crore rupees to the market capitalization of Tata Group companies. On Thursday, shares rose by 5 percent after the company reported strong quarterly profits for the quarter ending June 2026 (Q1-FY27). Management remains optimistic about near-term demand and expects the September 2026 quarter (Q2) to deliver double-digit year-on-year volume growth, noting that July was particularly strong despite the monsoon season.
In the post-earnings report, Nitin Agrawal and Sahil Malik from JM Financial wrote: 'Given the superior margin in Q1-FY27 and pricing in Q2-FY27, we revise EBITDA for FY27 up by 30 basis points to 12.3 percent. We maintain a BUY recommendation with a target price of 535 rupees (previously 475 rupees), based on an SoTP valuation assigning 14x EV/EBITDA (13x previously) for standalone operations, including Tata Cummins joint ventures.'
On Thursday, Tata Group shares showed mixed dynamics in intraday trading. Among them, Tata Motors CV, Tata Teleservices Maharashtra, Tata Technologies, Nelco, Tata Motors PV, and Tata Power Company traded higher in the range of 1 to 5 percent.
Garg predicts a recovery of lost positions by the shares if the Tata Sons Annual General Meeting, scheduled for August 18, makes a clear decision—either on re-election or a smooth handover of powers. He added that if a deadlock occurs, the management premium that Tata companies have earned over decades, rather than the term of one chairman, will be at risk, which long-term investors should note.
