In an attempt to secure long-term supply of liquified natural gas for its ferroalloys plant located in Odisha's Jajpur, Tata Steel Mining Ltd (TSML) has signed a memorandum of understanding with Bharat Petroleum Corporation Ltd (BPCL). As per the MoU signed here on Thursday, central PSU BPCL will supply the agreed quantity of natural gas through its pipeline to the ferroalloys plant at Jajpur, said TSML, a 100 per cent subsidiary of Tata Steel in a statement. It said that the agreement is a part of TSML's sustainability initiatives and it will aid the business in significantly reducing its carbon footprint because it will allow it to produce ferroalloys using cleaner fuel LNG rather than furnace oil. "Our partnership with BPCL will ensure a steady supply of LNG for our ferro alloys plant in Jajpur. This Memorandum of Understanding is consistent with our commitment to decarbonisation and our sustainability plan, TSML Managing Director Pankaj Satija said. Rouf M Khan, Head (GAS), Eas
Rating for companies based on their EBITDA growth and improved finances
Stocks to Watch today: In a major blow, lessors have approached aviation regulator DGCA for deregistration of three planes of SpiceJet
Europe is still struggling but things are getting better because energy prices have come down, T.V. Narendran told Reuters in an interview
Stock market live: Overnight in the US, banking shares declined as investors fret over the stability of small regional banks. The Dow Jones and Nasdaq fell 1.08% each while the S&P 500 shed 1.16%
So are analyst opinions with ratings ranging between 'hold to 'buy', and valuations between Rs 110 and Rs 132
'We have planned a capex of Rs 16,000 crore. Of this, roughly, Rs 4,000 crore is in Europe, with the Netherlands accounting for about Rs 3,000; the balance will be in the UK'
Stocks to Watch: Shares of aviation firms, such as IndiGo, SpiceJet, Jet Airways, are likely to be in focus on May 03 after Go First filed for insolvency proceeding on Tuesday.
Discussions with the UK government on support for the transition had been on for almost three years now
In Q4FY23, Tata Steel Europe reported an EBITDA loss of Rs 1,641 crore. In the previous quarter, EBITDA loss had stood at Rs 1,551 crore
The Tata Steel board has declared a dividend of Rs 3.60 per equity share
Q4 Results of Adani group companies are important to look at the fundamentals of the group after the rout its companies had to face post the Hindenburg Research report
Stocks to Watch: On the earnings front, Ambuja Cements, Adani Total Gas, PSB, Tata Steel and Uco Bank are likely to be on investors radar on Tuesday.
Tata Steel on Thursday said it has signed an agreement with A&B Global Mining to harness new business development opportunities and deliver mine technical services. The steel major will closely work with ABGM India which will interface with their South African entity to explore business opportunities in India and abroad besides utilise each other's technical and strategic strengths to deliver projects across the mining and metals, including the steel value chain, a company statement said. ABGM will also collaborate with Tata Steel to deliver competitive integrated business solutions to the global mining industry, it said. "We started offering mine technical services commercially to the mining industry along with our partners, and this agreement will further complement our capabilities and capacities to raise the standards of such services in India in particular and internationally in general for more scientific and sustainable mine development, Tata Steel vice president (raw ...
Tata Steel Long Products (TSLP) has posted a standalone loss of Rs 184.11 crore during the fourth quarter of financial year 2022-23, on account of increased expenses. The company had reported a net profit of Rs 59.62 crore during the January-March period of fiscal year 2021-22, TSLP said in a regulatory filing on Tuesday. The company's total income rose to Rs 1,911.98 crore, from Rs 1,823.67 crore in the year-ago quarter. While the company's total expenses surged to Rs 2,054.12 crore in the quarter under review, from Rs 1,738.24 crore in the same quarter a year ago. For the full year 2022-23, the company has posted a loss of Rs 1,085.49 crore. It had clocked Rs 629.87 crore net profit in FY 2021-22. Tata Steel Long Products is into manufacturing of high alloy steel primarily for the auto sector and wire rope industry. With one million tonnes capacity, it is one of the largest speciality steel plants in India in the long product segment. Besides, the company also manufactures and
Process in line with company's vision of becoming net zero by 2045
Thus far in the month of April, Jindal Steel has rallied 8 per cent, as against 1.6 per cent rise in the Nifty 50 and 5.7 per cent gain in the Nifty Metal index.
No final decision has yet been taken and details may still change, according to the people. Bloomberg-compiled data indicate this would be Tata Steel's first green loan
Tata Steel is still pursuing its request for the financial package with the UK government, the company's CEO T V Narendran said. Narendran who is also the Managing Director of Tata Steel made the remarks in reply to a question on stance on exiting the UK business. "Tata Steel is still pursuing it (request) with the government there (UK)," he told PTI on the sidelines of an event in the national capital. There has been no conclusion to the request made for a financial package, he said. India-headquartered Tata Steel owns the UK's largest steelworks at Port Talbot in South Wales and employs around 8,000 people across all its operations in the country. The company had sought 1.5 billion pounds from the UK government to execute its decarbonisation plans. However, the British government earlier this year made a counter offer which was much lower to the company's expectations. Speaking to PTI, Narendran had said that Tata Steel cannot see its future in the UK without the support of th
Tata Steel India reported a record operational performance in the last financial year despite a challenging environment, according to the company's CEO & MD T V Narendran. The company produced 19.87 Million Tonnes (MT) of steel in the last fiscal as against 19.06 MT in 2021-22. During the same period, sales were higher at 18.87 MT compared to 18.27 MT in the year-ago period. "Tata Steel India reported a record-breaking operational performance in FY23 despite a challenging environment," Narendran said in a statement on Thursday. "Our strong marketing network and agile business model enabled us to grow across segments," he added. During January-March period, Tata Steel India's production increased to 5.15 MT from 4.90 MT in the year-ago period.