In its first official comment on the Corus deal since a rival bid came up, Tata Steel said on Tuesday that its offer for buying out the Anglo-Dutch steelmaker remains valid in spite of a counter bid from Brazil's CSN.
Tata Steel would expand the capacity of its Jamshedpur plant from five million tonne per annum to 10 million tonne by 2009-10, a company official said on Tuesday.
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 UK steel industry is struggling for survival in the face of extremely challenging market conditions.
Tata Steel on Wednesday said it has initiated the construction of a technical training institute near Gopalpur in Ganjam district of Orissa.
Shares of Tata Group companies on Thursday rose up to 10 per cent, with Tata Chemicals and Tata Teleservices among the major gainers. Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday. He was 86. "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.
Tata Steel Ltd on Monday said it had signed an agreement with Australia-based AMCI Pty Ltd to acquire five per cent stake in Carborough Downs coal project.
Gukesh was in control with his white pieces giving nothing away to Keymer, one of his seconds, in a Nimzo-Indian defense game.
Investors lost Rs 24.69 lakh crore in market valuation in the last four days of severe drubbing in the equity market. Spike in global crude prices, unabated foreign fund outflows, a strong US jobs data diminishing early rate cut expectations, and the rupee logging its steepest single-day fall in nearly two years dampened investors' sentiment.
Stocks of Indian steel companies are reeling from pricing pressure that is partly blamed on cheap imports. The stocks have declined up to 9 per cent on the NSE in one month, likely allowing investors an opportunity to use the correction to enter the pack as pricing pressure eases. "In steel or any other commodity, if prices or spreads are nearing their bottom, it can be an opportune time to invest in those stocks. In India, domestic fundamentals such as steel consumption remain robust, hence one can take fresh positions in these counters," said Amit Dixit, an analyst at ICICI Securities.
New MD likely to be announced by December-end or first week of January.
Its superior formability makes it suitable for creating relatively complex shapes.
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.
Ore and coking coal to come from Tata mines in Canada, Africa.
Four units of Tata Iron and Steel company have been adjudged winners of the 'TPM Excellence Award 2004 by the Japan Institute of Plant Maintenance.
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.
From the 30-share Sensex pack, Tata Consultancy Services, Infosys, NTPC, HCL Technologies, Axis Bank, Tech Mahindra, Bajaj Finserv, Sun Pharma, IndusInd Bank and Reliance Industries were the major laggards. Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Nestle and State Bank of India were among the gainers.
The industry is facing scarcity of raw material and steel import is on a rise.
World No. 1 Magnus Carlsen secured a remarkable double victory at the Tata Steel Chess India tournament, winning both the rapid and blitz titles.
Around half a dozen Tata Steel employees and contract workers were injured following an explosion in the LD gasholder inside its factory in Jamshedpur.
Tata Steel's margins may remain under pressure in FY15.
World No. 1 Magnus Carlsen recorded a flawless performance, securing victories against S L Narayanan
Tata Steel plans to invest nearly Rs. 600 crores on limestone deposits in Oman.
It is not clear at this stage whether Tata will take up the government's offer of taking a 25 per cent stake in the business.
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.
Stocks of Indian steel companies are reeling from pricing pressure that is partly blamed on cheap imports. The stocks have declined up to 9 per cent on the NSE in one month, likely allowing investors an opportunity to use the correction to enter the pack as pricing pressure eases. "In steel or any other commodity, if prices or spreads are nearing their bottom, it can be an opportune time to invest in those stocks.
Tata Steel's $5 billion steel project in Vietnam has hit a roadblock, thanks to a delay in land allocation.
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.
UK's largest union Unite warned Tata against ducking its promises and conducting a 'fire sale' of its specialty steel business
Besides a minority stake, the UK and Welsh governments are considering additional grant funding
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.
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.
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