Page 8 - Tata Steel

Steel firms to hike qtrly contract prices after downward revision earlier

Tata Steel, JSW Steel, ArcelorMittal Nippon Steel India and other producers settling contracts

TCS, Tata Motors, Titan, IHCL: Track key levels for Tata Group stocks

Among the Tata Group stocks, shares of Tata Motors could potentially top the Rs 900-mark, while a select few could gain in the range of 15 - 19 per cent from present levels.

Tata Steel says it completes merger of S & T Mining Company with itself

Tata Steel on Friday said it has completed the merger of S & T Mining Company Ltd with itself. The scheme of amalgamation of S & T Mining Company Ltd ('S&T Mining') into and with Tata Steel Ltd was approved and sanctioned by National Company Law Tribunal (NCLT) Kolkata vide order dated November 10, 2023, according to a filing. "...scheme of amalgamation has become operative and effective from today i.e., December 1, 2023. In terms of the scheme of amalgamation, S&T Mining stands dissolved without being wound up, effective December 1, 2023," it said. Tata Steel is in the process of merging a number of subsidiary companies with itself. Its CEO & MD T V Narendran had earlier said the merger of the subsidiary companies with Tata Steel is expected to be completed in 2023-24.

Tata Steel appoints Akshay Khullar as VP of Engineering and Projects

Tata Steel on Monday announced the appointment of Akshay Khullar as the Vice President Engineering and Projects of the company. Tata Steel has also re-designated Peeyush Gupta as the Vice President TQM, group strategic procurement and supply chain of the company. "In terms of the company's succession plan for Senior Management Personnel, Akshay Khullar is being appointed as the Vice President Engineering & Projects (Designate), effective December 1, 2023 and as the Vice President Engineering & Projects, effective February 1, 2024," Tata Steel said in a regulatory filing. While Peeyush Gupta, currently serving as the Vice President Group Strategic Procurement and Supply Chain will lead the Total Quality Management (TQM) function, in addition to his current responsibilities, it said. Accordingly, effective February 1, 2024, Gupta will be re-designated as the Vice President TQM, Group Strategic Procurement and Supply Chain. In the filing, Tata Steel also announced ...

Tata Steel board approves allotment of 75.8 mn shares to TSLP shareholders

The Tata Steel board has approved the allotment of 7.58 crore shares to eligible shareholders of Tata Steel Long Products Limited. These equity shares are proposed to be listed and traded on BSE Limited and the National Stock Exchange (NSE), Tata Steel said in a regulatory filing on Wednesday. Tata Steel's board has approved the allotment of 7,58,00,309 shares to eligible shareholders of Tata Steel Long Products and the record date has been fixed as November 17. According to the filing, the share exchange ratio will be 67:10, which means that 67 shares of Tata Steel will be allotted for every 10 shares of Tata Steel Long Products. The scheme of amalgamation was approved and sanctioned by the NCLT-Mumbai Bench vide order dated October 20, 2023, and the NCLT-Cuttack vide order dated October 18, 2023. These equity shares so allotted shall rank pari-passu with the existing shares of Tata Steel. The above allotment, Tata Steel said, includes "14,430 fully paid-up equity shares of Tata

Tata Steel Foundation, KGA ink MoU to promote tribal art, music, culture

To promote tribal art, music and culture a Memorandum of Understanding (MoU) was signed between Tata Steel Foundation (TSF) and Mumbai-based Kala Ghoda Association (KGA) here on Saturday. The MoU was signed on the fourth day of the five-day pan India tribal conclave 'Samvaad'. It will allow tribals to participate in the Kala Ghoda Art Festival, which has been taking place in South Mumbai, Kala Ghoda Fort for the last 20 years. Chief Executive Officer of Tata Steel Foundation (TSF) Sourav Roy said "We have joined hands with KGA to take tribal art, music, and culture to South Mumbai. We are thankful to the KGA for giving us a space to put up installation, a stage for Rhythms of the Earth (ROTE) and an opportunity for tribal artisans to market their creativity." Expressing happiness over the MoU, the Festival Director and Chairperson of KGA, Brinda Miller said "We are very grateful to be a part of Samvaad. We appreciate music, dance, and other cultural expressions beyond art. We are .

Tata Steel cuts 800 jobs in the Netherlands to increase profitability

"Despite all efforts by Tata Steel to improve its market position and reduce costs, more needs to be done," the company said in a statement

Tata Steel's global stride with new deal to aid Europe profitability

15 years ago, the global financial crisis set in and undid Tata Steel's best-laid plans in Europe. How far can the new deal help?

Tata Steel CEO expresses concern over India's rising steel imports

India being a net importer of steel is a matter of concern, Tata Steel CEO & MD T V Narendran said Tuesday. The government has assured of intervention, if the imports remain on a rise, Narendran said at the ISA Steel Conclave event in the national capital. "I think it's a little bit of a concern because internationally steel prices are still a bit soft because of China... You heard the (commerce) minister Piyush Goyal saying that if imports increase the government will look at what it can do to help us," he said replying to a question on India being net importer of steel in October. Commerce and Industry Minister Piyush Goyal on Tuesday assured the domestic industry that India will not accept such unfair taxes and will fight to get a fair deal for producers and exporters. He said India has already flagged its concerns over the carbon tax with the European Union (EU) and in the WTO (World Trade Organization). The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of ..

Tata Steel seeks financial aid for Netherlands unit; to submit proposal

After securing a funding in the UK, Tata Steel is looking for a financial aid from the Netherlands government to execute its decarbonization plans. In October 2021, Tata Steel completed the process of separating Tata Steel UK and Tata Steel Netherlands as two independent companies from Tata Steel Europe. "In Netherlands, we will shortly be submitting the detailed decarbonization proposal to the Dutch government seeking regulatory and financial support," Tata Steel CEO & MD TV Narendran said. Tata Steel Netherlands has been working intensely with Government of Netherlands on the contours of the decarbonization project covering emission and health standards. The detailed decarbonization proposal will shortly be submitted to Government of Netherlands seeking regulatory and financial support which is critical for the company's Dutch operations. Both parties will then discuss the detailed conditions of the project, a Tata Steel statement said. The board of Tata Steel will duly ...

We worked very hard, it's the best proposal: Tata Steel CEO T V Narendran

'Unions are obviously reflecting the sentiments of their members. One way to look at it is there are many jobs which are saved, but for the people who may be losing jobs, it's an emotional issue'

Q2FY24 performance: Cautious near-term outlook for Tata Steel stock

The UK operations suffered from low steel prices as well as higher costs on the emission rights front

Stocks to Watch: Tata Steel, Hero Moto, Britannia, GAIL, JK Tyre, Ambuja

Stocks to watch on November 2, 2023: Two-wheeler manufacturer Hero Moto's consolidated net profit rose 47.6 per cent YoY to Rs 1,007 crore in the September quarter

Tata Steel sees consolidated net loss of Rs 6,196 cr in Sept quarter

The company has also taken a charge towards restructuring and other provisions of Rs 3,612 crore in consolidated financial statements

Tata Steel cancels press conference as UK workers brace for job cuts

People familiar with the matter had said the firm was set to announce the restructuring of its operations at the Port Talbot site in south Wales

Sensex ends 284 pts lower, Nifty below 19K again; Asian Paints, metals drag

Stock market on November 1, 2023: On the positive front, Sun Pharma gained nearly 3 per cent; Debutant Blue Health hit upper circuit on debut.

Tata Steel to acquire 26% stake in Tata Power Renewable Energy arm TPVSL

Tata Steel on Thursday said it will acquire a 26 per cent stake in TP Vardhaman Surya Ltd (TPVSL), an arm of Tata Power Renewable Energy Ltd. The company did not disclose the transaction value. It will also source 379 megawatt (MW) of clean energy from Tata Power Renewable Energy Ltd (TPREL), Tata Steel Ltd (TSL) said in a statement. TSL has concluded the negotiations to enter into definitive agreements with TPREL to acquire 26 per cent in TPVSL, currently a wholly-owned subsidiary of TPREL. TSL will also enter into an agreement with TPREL to source 379 MW of renewable power, the statement said. Tata Steel CEO and managing director T V Narendran, said: "Our partnership with Tata Power Renewable Energy marks a pivotal step in Tata Steel's sustainability journey towards achieving net zero carbon emissions by 2045. We stay committed to reducing our environment footprint and transitioning towards clean, green energy solutions.

NCLT approves Tata Steel Long Products' amalgamation with Tata Steel

Tata Steel Long Products Ltd on Thursday said the National Company Law Tribunal (NCLT) has approved the amalgamation of the company with Tata Steel Ltd. Tata Steel is to merge Tata Steel Long Products and six other subsidiaries with itself. In a regulatory filing, Tata Steel Long Products said the NCLT's Cuttack bench, on October 18, sanctioned the scheme of amalgamation of the company with Tata Steel. Earlier, Tata Steel CEO & MD T V Narendran had said the merger of the subsidiary companies with itself is expected to be completed in 2023-24. The subsidiaries to be merged with Tata Steel are Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, Tata Steel Mining and S&T Mining Company.

Tata Steel arm TCIL net loss narrows to Rs 2.29 crore in Sept quarter

The Tin Plate Company of India Ltd (TCIL) on Monday said its net loss had narrowed to Rs 2.29 crore in the September quarter. It had clocked a net loss of Rs 35.10 crore during the July-September period of the preceding financial year, TCIL said in a regulatory filing. The company earned a total income of Rs 959.95 crore, down from Rs 971.77 crore in the year-ago period. Its expenses declined to Rs 963.07 crore in the first quarter of the current fiscal from Rs 1,018.27 crore last year. Domestic steel major Tata Steel owns a majority stake in the Kolkata-headquartered TCIL, a tinplate producer. From its plant in Jamshedpur (Jharkhand), TCIL caters to 40 per cent of the overall domestic market and exports 15-20 per cent of its sales to different countries.

Stocks to Watch today: Adani Group, DMart, HDFC Life, TaMo, Dalmia Bharat

Stocks to watch on Monday, October 16, 2023: Ceat, Cyient DLM, Federal Bank, Jio Financial and Yatra Online among 24 companies to announce results today.