Ratan Tata retired as chairman of Tata group after a 50-year run on Friday. He kept away from work on the last day in office.
Mr Tata, who turned 75 today, is in Pune for his birthday, sources at Bombay House, headquarters of the salt-to-software conglomerate, told PTI, adding there was no clarity on whether he would visit his office later in the day. (Watch: The end of an era)
Chairman-designate Cyrus Mistry, who made a visit to Bombay House today, will take charge of the new assignment on Saturday, sources in Tata Sons said. (Read: Who is Cyrus Mistry)
Over half of the group's revenues are derived from outside the country currently. Not limiting himself to big-ticket acquisitions, Mr Tata also displayed sensitivity to the needs of the burgeoning middle class with the launch of the Rs one lakh Nano battling the odds in West Bengal.
Although Nano could not live up to the expectations after its initial worldwide acclaim, the small car will still be remembered as Mr Tata's desire to provide a "safer" option to many Indian lower-middle class families riding two-wheelers.
In a recent interview to PTI, Mr Tata said that Singur was a "great disappointment" because he went there "in a leap of faith" thinking that part of the country was being ignored industrially. Tatas will still go to West Bengal someday, he said.
Under Mr Tata, the group also made great strides in the sunrise industry through the 90's. With revenues of over $10 billion in 2011-12, Tata Consultancy Services (TCS) is today India's largest IT company, ahead of giants in the field like Infosys and Wipro.
On his post-retirement plans, Mr Tata, a bachelor, has said he will spend time on technology which is quite a passion with him. He will brush up on his piano, which he learnt as a school boy and pursue flying, apart from his focus on philanthropic activities. (Read: Ratan Tata's retirement plan)