Page 4 - Tata Steel

Tata Steel, ICAR-NRRI join Odisha govt to reclaim acidic soils in state

Tata Steel and Odisha government have decided to implement a sustainable agricultural initiative to reclaim acidic soils in the state, an official said. The collaboration aims to utilize industrial waste, such as basic oxygen furnace (LD) slag and fly ash, as soil amendments to reclaim acidic soils in Odisha. The first consignment of LD slag was flagged off from Tata Steel Meramandali (TSM) plant in Dhenkanal district on June 18, the official said. The project, titled "Economic and Environment-Friendly Utilisation of Basic Slag and Fly Ash as Soil Amendments to Reclaim Acid Soils of Odisha (SAFAR)," is being spearheaded by the Indian Council of Agricultural Research (ICAR)-National Rice Research Institute (ICAR-NRRI) in Cuttack, Odisha. The initiative is part of the Odisha government's "Waste to Wealth" programme, which promotes a circular economy. "We are pleased to collaborate with the Government of Odisha and ICAR-NRRI on this important initiative," said Rajiv Mangal, vice ...

Mcap of BSE-listed firms hit fresh record high of Rs 437.24 trillion

The market capitalisation of BSE-listed firms hit a new record high of Rs 437.24 lakh crore on Tuesday amid an optimistic trend in equities where the BSE Sensex maintained the record-breaking run and hit another lifetime closing high level. Rising for the fourth straight session, the 30-share BSE benchmark climbed 308.37 points or 0.40 per cent to settle at a new closing peak of 77,301.14. During the day, it jumped 374 points or 0.48 per cent to hit the fresh lifetime peak of 77,366.77. The positive trend in equities took the market capitalisation of BSE-listed firms to a new record high of Rs 4,37,24,261.40 crore (USD 5.24 trillion). In four days, the investors' wealth has risen by Rs 10.29 lakh crore. "Key benchmark indices continued their record-breaking spree as renewed FII buying interest coupled with moderating domestic inflation has raised hopes of a rate cut by this year-end. "Although monsoon has made a steady start, investors are hoping for a pick-up in rain activity ove

LIC to Tata Steel, listed firms step up rumour verification disclosures

According to the rules notified by the Securities and Exchange Board of India (Sebi), companies need to verify, deny, or clarify media reports that trigger significant price movement in shares

India's consumer market represents long-term opportunity: N Chandrasekaran

India's consumer market represents a long-term structural opportunity, driven by population, a growing middle class, rapid urbanisation, increasing disposable incomes and raising aspirations, Tata Consumer Products Ltd Chairman N Chandrasekaran said on Thursday. The Tata group's FMCG arm is well positioned to capitalise on the significant opportunity, he said, while addressing the annual general meeting (AGM) of TCPL. Chandrasekaran said the India economy has been growing "very strongly" and the current momentum continues to be high. India is likely to maintain similar growth momentum in the coming years, he said, adding that the global economic landscape has been rather volatile with the geopolitics reshaping supply chains, energy security, and overall resilience. The baseline forecast for the world economy is to continue to grow over 3 per cent during 2024 and 2025. However, "India has been growing very strongly with the economic growth rate of 8.2 per cent for the fiscal 2023-2

Tata Steel flags concerns over political slugfest ahead of UK's elections

The statement follows UK media reports on Labour urging the company to pause the restructuring process until next month's general election

Tata Steel in talks with Dutch govt on proposed decarbonisation roadmap

Tata Steel on Thursday said it is in talks with the Dutch government on a proposed decarbonisation roadmap for the company's factory in the Netherlands. The company's statement came after reports said that the Netherlands may provide as much as 3 billion euro (3.26 billion dollar) for the green transformation of the steel major's IJmuiden factory, which has caused serious health and environmental problems in the adjoining area. "...the company is in discussions with the Dutch Government on the proposed decarbonization roadmap," Tata Steel said in a stock exchange filing. The Dutch Parliament had in March formally gave a mandate to the government to negotiate the terms of potential support towards a proposal for decarbonisation in Tata Steel Nederland. Eventually, the Dutch government has formulated a detailed framework of diligence, analysis, discussions and negotiations with the steel major, which will run over several months before potentially culminating in an agreed set of ...

Tata Steel credit metrics to improve in FY25 on high demand: CreditSights

Ratings firm CreditSights on Monday said it expects the credit metrics of Tata Steel to improve in the ongoing fiscal aided by factors like infrastructure-led domestic steel demand and lower coking coal prices. Tata Steel last week reported a 64.59 per cent decline in consolidated net profit at Rs 554.56 crore for the March quarter from Rs 1,566.24 crore in the year-ago period, mainly on account of lower realisations and expenses on certain exceptional items. In a report, CreditSights -- a FitchSolutions company -- said it expects Tata Steel's credit metrics to improve meaningfully in FY25, with net leverage projected to improve, driven by robust EBITDA growth and lower capex. "We expect total FY25 EBITDA to grow robustly year-on-year in the mid 20 per cent range, supported by robust infrastructure-led domestic steel demand, very slight recovery in steel price realizations aided by robust domestic demand...lower coking coal input costs that could offset higher iron ore input costs,"

2,500 job cuts inevitable in Tata Steel's UK operations: CEO Narendran

Loss of jobs for around 2,500 workers at Tata Steel's operations in the UK, which are in a transition phase, is "inevitable", the company's CEO T V Narendran said. Fear of job losses has attracted criticism of the workers' unions and they are continuously protesting against the company in the UK. India-based Tata Steel owns the UK's largest steelworks of 3 million tonne per annum (MTPA) at Port Talbot in South Wales and employs around 8,000 people across all its operations in that country. As part of its decarbonisation plan, the company is shifting to low-emission electric arc furnace (EAF) process from the blast furnace (BF) route which is nearing its end of life cycle. Speaking to PTI, Narendran said the transition to EAF with the UK government aid will make the company competitive in terms of reduced production cost, and also help in reduction of 5 million tonnes of Co2 per year. "But all this involves 2,500 job losses and that is what the unions obviously are not happy with.

UK workers' union to proceed with industrial action at Tata Steel plants

A steelworkers' union has announced plans to proceed with industrial action of around 1,500 Tata Steel employees based at Port Talbot and Newport Llanwern in Wales in protest against the Mumbai-headquartered company's job cuts associated with the closure of old blast furnaces. Unite the Union said on Thursday that its workers will begin working to rule as well as taking part in a continuous overtime ban from June 18 to severely disrupt and delay the company's operations and order book unless the company rows back on the closure. It is calling for the Indian steel major to halt its plans until the July 4 General Election, when it expects the UK's Conservative Party led government will make way for the Opposition Labour Party. Tata's disastrous deal with the current government would only see its other overseas operations take advantage of the coming boom in green steel at the expense of South Wales, said Unite general secretary Sharon Graham. Now that we will have a new government in

No better story than steel in reviving private capex: Tata Steel MD & CEO

In India, we expect the EBITDA per tonne to be a little lower though the spreads have improved a bit because it's a quarter where we have a lot of shutdowns, said TV Narendran

Demand uncertainty likely to keep Tata Steel stock under pressure

Tata Steel India (TSI) sales volume grew 11 per cent QoQ at 5.42 million tonnes (up 5 per cent YoY) but average realisation declined 5 per cent QoQ at Rs 67,592/tonne

Tata Steel CEO Narendran says want to move fast on UK decarbonisation

Chinese exports of steel into India were a 'growing concern,' Narendran said, as India turned net importer in the fiscal year that ended in March

Trade set-up for May 30: F&O expiry, weak global cues, Awfis debut in focus

All you need to know before the market opens on Thursday: Global markets are once again feeling the US rate cut jitters; market experts back home see 22,800 as immediate hurdle for the Nifty now.

Stocks to watch on May 30: Tata Steel, Awfis Space Solutions, Cummins India

Stocks to watch on May 30: Cummins India reported a 54.4 per cent spike YoY in net profit to Rs 538.9 crore in Q4FY24 on a consolidated basis compared to Rs 348.9 crore in the corresponding quarter

Tata Steel Q4FY24 results: Net profit drops 64.1% to Rs 611.48 cr

Consolidated revenue from operations at Rs 58,687.31 crore was down by 6.8 per cent Y-o-Y. The Bloomberg consensus estimate for revenue was Rs 58,375.1 crore and net income Rs 928 crore

Tata Steel Q4 results: Net profit falls 64% to Rs 611 crore on lower prices

The country's second biggest steelmaker by market cap said its consolidated net profit fell 64% to Rs 611 crore ($73.3 million) in the three months to March 31

Q4 results today: Tata Steel and Emami among 566 firms to post earnings

Q4FY24 company results: Alkem Laboratories, Heritage Foods, Aadhar Housing Finance, and Mazagon Dock Shipbuilder will be releasing their fourth-quarter report on May 29

Eastern India's largest auto cluster seeks to emerge from Tata shadow

Jamshedpur has 600-700 ancillary units in its industrial areas that solely depend on Tata Motors and Tata Steel

Port Talbot restructuring: Wales' First Minister meets Tata Steel top brass

On Thursday, members of the steelworkers' union, Community in the UK, voted in favour of an industrial action over Tata Steel's restructuring plans

Here's how much royalty Tata Group companies will pay for the Tata name

Tata Group companies pay a brand subscription fee for the privilege of using the 'Tata' name. Here is how much they will need to pay now