Tata Metaliks

The National Company Law Tribunal has sanctioned the amalgamation of Tata Metaliks Ltd into its parent Tata Steel, which led to the cancellation of board meeting ahead of financial results announcement of the subsidiary firm. According to a regulatory filing by Tata Metaliks, the board meeting, scheduled for January 12, to declare company's financial results has been cancelled. The National Company Law Tribunal (NCLT) Mumbai on Thursday pronounced the order sanctioning the scheme of amalgamation amongst Tata Metaliks into parent Tata Steel Ltd, the company said. "With the pronouncement of the order...the financial results of Tata Metaliks for the quarter and nine months ended December 31, 2023, shall be considered along with the financial results of Tata Steel," the filing said. Shares of Tata Metaliks were trading 0.96 per cent higher at Rs 1,067.55 apiece on the BSE.

Tata Metaliks Limited (TML) on Friday announced a nearly six per cent rise in net profit to Rs 55.56 crore for the fourth quarter period ended March 2023 on the back of higher revenues. The net profit for the corresponding Q4FY'22 was Rs 52.46 crore. The revenue from operations for Q4FY'23 was Rs 926 crore, as compared to Rs 808 crore in the corresponding period of the previous year, representing a growth of 14 per cent. Total expenses for the period were Rs 863 crore, as compared to Rs 772 crore in the corresponding period of the last fiscal. The Ductile Iron (DI) pipe plant-2 (new plant) production had a vertical ramp-up and its production of finished pipes touched 35 kilotonnes (KT) in the quarter (25 KT in Q3 FY'23), the company said in a statement. The company said its product portfolio now covers the larger size range from 900 mm to 1200 mm diameter pipes which constituted almost 30 per cent of sales from the new plant. "The company's DI Pipe business has a healthy order bo

Closing Bell: Within sectors, the Nifty metal index closed with most strength, up 1.5 per cent, followed by financials and pharma pockets, while PSB index slumped the most by over 1 per cent

Stocks to watch today: Tata Metaliks reported a sharp fall of 73 per cent in its December quarter net profit at Rs 9.48 crore, on account of increased expenses

The company had posted a Rs 35.65 crore net profit in the year-ago period, according to a statement

'Move would also drive synergies' and increase value for shareholders, says company

Shares of the to-be merged subsidiaries, Tata Steel Long Products, Tinplate Company of India, Tata Metaliks, and TRF declined 2 - 9 per cent each.

Stocks to Watch: State Bank of India (SBI) has clarified that it has not been identified as a nodal bank for handling Russia-related rupee transactions

he Tata Group company, engaged in pig iron business, had PAT of Rs 94.72 crore in the year-ago quarter (Q1FY22)

Stocks to watch today: Tata Elxsi, L&T Infotech will report their June quarter results 2022 on Thursday July 14; Mindtree posted 37.3 per cent rise in net profit to Rs 471.6 crore for Q1FY23.

It had reported a net profit of Rs 94.72 crore in the April-June quarter of financial year 2021-22, the company said in a regulatory filing.

The BSE Sensex fell 372 points at close to 53,514. The index had previously risen 325 points to the day's high.

Stocks to watch today: Mindtree, Tata Metaliks will report their June quarter 2022 (Q1FY23) results on Wednesday, July 13; NMDC will be removed from the Nifty CPSE index post hive off of NMDC Steel.

Stocks to Watch Today: Shares of pharma company - Aurobindo, Sun Pharma and Jubilant are likely to be in focus as the trio have recalled different products in the US market as per the latest USFDA

The company had clocked a Rs 74.99 crore net profit during January-March period of preceding 2020-21 fiscal, Tata Metaliks said in a BSE filing.

In Q2, EBITDA margin came in at 15.5 per cent, lower by 998 basis points (bps) QoQ and 559 bps YoY on the back of higher operating costs

Shares of Tata Metaliks Ltd jumped over 8% after the firm reported a net profit of Rs 94.72 crore for the quarter ended June 30, 2021.

The firm was helped higher sales and price realisation

During the first half of this week, 15,750 - 15,800 are the levels to watch out for and the first of sign of strength would come only after reclaiming 15,800 on a closing basis

Tata Group companies, on Friday, rallied up to 6 per cent in intra-day trade on the BSE post the Supreme Court ruling