Indian benchmark indices, Sensex and Nifty, experienced a significant drop of over 1 per cent, driven by a bearish trend in global markets, weakness in HDFC Bank and IT firms, and fresh foreign fund outflows.
Tata Chess: Wesley So in sole lead, Erigaisi & Nihal not far behind in Blitz
Indian benchmark indices Sensex and Nifty rebounded in early trade after three days of decline, driven by a rally in Sun Pharma following its USD 11.75 billion acquisition of US-based Organon & Co, alongside a positive trend in global equity markets.
Rating agencies may downgrade the company.
Needs funds for Odisha plant expansion, to cut high debt.
The acquisition is scheduled to take effect from April 2
While write-off will push up its debt equity ratio, decline in equity will push up return ratios.
Ratan Tata's Tata Steel has been ranked 90th, while mortgage lender HDFC cornered the 92nd position in the world's 100 most sustainable companies list, Forbes said attributing this to the Toronto-based Corporate Knights.
Tata Steel, the world's sixth-largest steel maker, has posted a 56.37 per cent drop in third quarter net profit to Rs 466.24 crore from its Indian operation as slowing economic growth and the credit crunch prompted makers of cars and appliances to slash orders. The company reported a drop for the first time in almost three years due to 13.81 per cent fall in the volume of steel sold.
Indian benchmark stock indices, Sensex and Nifty, experienced a significant decline for the third consecutive day, with the Sensex tumbling 1,092 points and Nifty closing below 24,550. This downturn was primarily driven by the India Meteorological Department's forecast of a below-normal southwest monsoon and ongoing geopolitical uncertainties surrounding the US-Iran ceasefire arrangement.
Tata Steel's $5 billion steel project in Vietnam has hit a roadblock, thanks to a delay in land allocation.
Tata Steel, the world's sixth-largest steel maker, is looking to acquire Brazilian iron ore assets of the United Kingdom-based London Mining, which will help ensure raw material supply for its Anglo-Dutch subsidiary, Corus. The valuation of the asset is yet to be completed, but analysts said that it would be in the range of $2 billion.
Indian Grandmaster Vidit Gujrathi drew with Richard Rapport of Hungary in the ninth round to be in joint third place with 5.5 points in the Tata Steel Masters in Wijk Aan Zee, The Netherlands.
Ore and coking coal to come from Tata mines in Canada, Africa.
Tata Steel has lost the bidding battle for Vietnam's Vinausteel and SSE Steel after losing a vote on the resolution for its sale and purchase agreement by Vietnam Industrial Investments, the parent company of the two steel makers.
Indian listed companies experienced their fastest revenue growth in 15 quarters during Q1FY27, with combined net sales rising 18.4% year-on-year, while net profit grew 16%, primarily driven by mining, metals, and banking sectors, despite a contraction in operating margins due to higher input costs.
Tata Sons' unlisted ventures, including Air India, Tata Digital, and Tata Electronics, reported combined net losses of approximately 25,568.8 crore in FY25, a 58.3 per cent increase from the previous year, despite Tata Sons itself remaining profitable for over a decade.
Indian benchmark indices, Sensex and Nifty, extended their winning streak for a fourth consecutive session, driven by a significant drop in crude oil prices following a peace deal between the US and Iran. This development has fuelled investor confidence and buying activity across the market.
Aiming to revive its loss-making long-product business in Europe, Tata Steel on Friday said it plans to invest 400 million over five years, shut or mothball parts of Scunthrope plant and slash 1,500 jobs in England.
The world's sixth largest steelmaking group, which has been stepping up its raw material security at a frenetic pace, has 300 million tonnes of iron ore reserves in India.
The board of Tata Steel, which will enter an open bidding war with Brazil's CSN for Corus on Tuesday, met in Mumbai presumably to discuss the strategy for the auction and also consider the quarterly results.
Thanks to its acquisition of the Corus group, Tata Steel has made it to the Fortune 500 list even as India's largest corporate Reliance Industries climbed 63 places up to 206th rank. Companies qualify to the list on the basis of their revenues.
Tata Steel plans to invest nearly Rs. 600 crores on limestone deposits in Oman.
After steering the company for 21 years, Tata will pass on the leadership baton to his successor designate and present deputy chairman of Tata Sons, Cyrus Mistry in December, when Tata turns 75.
Vidit Gujrathi suffers first defeat
The Insolvency and Bankruptcy Code (IBC) got a leg-up with Tata Steel's acquisition of Bhushan Steel, the first big case to be resolved. Tata Steel CEO & MD T V Narendran tells Ishita Ayan Dutt how this deal moved so quickly while others are still mired in controversies.
The Tata Group had acquired its UK steel operations as part of a 6.7 billion pounds acquisition from Anglo-Dutch steelmaker Corus in 2009.
The steel-maker will now have to pay 50 basis points more on this tranche of $1 billion with a seven-year tenure.
Its superior formability makes it suitable for creating relatively complex shapes.
The company said it had extended financial support to the UK business.
Tata Steel was prepared to make a hostile bid of £4.2 billion (nearly $7.79 billion) if its favoured option of a friendly merger was rejected, the UK newspaper reported.
Tata Steel, the world's sixth largest steelmaker, has entered into a joint venture agreement with Sodemi for the development of Mount Nimba iron ore deposits in Ivory Coast (West Africa). This is Tata Steel's first joint venture for iron ore. The Mt Nimba deposit, spread over 3 countries Liberia, Guinea and Ivory Coast, is one of the biggest in West Africa.
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
