Indian benchmark indices, Sensex and Nifty, ended lower in choppy trade, with the Sensex declining 114 points, as investors reacted to unabated foreign fund outflows and rising geopolitical uncertainties.
Mistry would be succeeding as the chairman of Tata Group.
Anglo-Dutch steelmaker Corus has accepted a $7.7 billion takeover bid from Tata Steel, the largest Indian takeover of a foreign company.
Indian benchmark equity indices, Sensex and Nifty, saw gains in early trade, driven by strong performance in banking shares and positive sentiment from Asian markets, alongside optimism surrounding the ongoing US-China Summit.
Indian benchmark equity indices, Sensex and Nifty, rebounded on Wednesday, recovering intraday losses, primarily driven by strong fag-end buying and a significant rally in blue-chip Reliance Industries.
The imposition of 15 per cent export duty on steel has suddenly altered the prospects of the sector to negative and led to a big sell-off in steel stocks. Iron ore and pellet exports have to face duties of 45-50 per cent, which means they become uncompetitive. The Ukraine war has led to a supply crunch in global markets and pushed up prices, with Europe, in particular, looking for replacements for Ukrainian and Russian exports.
Indian benchmark indices, Sensex and Nifty, closed marginally higher after a volatile trading session, driven by value buying in IT and select blue-chip counters, despite global crude price hikes and a weak rupee.
Indian benchmark indices Sensex and Nifty experienced a significant slump in early trade, mirroring weak global trends, as escalating tensions in West Asia, particularly a drone attack on the UAE's Barakah nuclear facility, pushed crude oil prices higher. Track Sensex, Nifty50 movement and key market drivers for May 18, 2026.
With global major Mittal Steel likely to foray into India with its proposal to set up a five million tonne steel plant in Jharkhand, Tata Steel has asked the government to check its track record before inviting the company.
The announcement evoked a sharp response from the UK and Ireland's largest trade union, Unite, which said it would fight for every job and demanded that there would be no compulsory redundancies from Tata Steel.
Tata Steel was the top gainer in the Sensex pack, jumping around 4 per cent, followed by NTPC, PowerGrid, Reliance Industries and Bajaj Finserv.
With five points in his kitty from eight games, D Gukesh jointly leads the standings with Anish Giri of Holland.
According to insiders, Chatterjee shares a good rapport in the group, as well as with bankers, thanks to the fact that he was instrumental in raising finances for Tata Steel's $12.1-billion Corus acquisition.
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.
India's Vidit Gujrathi drew with Jan-Krzysztof Duda of Poland to take his tally to four points after the sixth round of Tata Steel Chess Tournament 2022.
Since Ratan Tata , the patriarch of India's Tata Group, decided to splash out $13.1bn early in 2007 on Anglo-Dutch Corus, he has spent a lot of time with smooth-talking Frenchman Philippe Varin , who has run Corus for five and a half years.
Revenue from China contributed no more than 3 to 4 per cent to the company's total revenue in the latest fiscal.
The Tata Steel group - comprising Tata Steel and Corus Group, the European steel maker it acquired in January on Wednesday took decisive steps towards integration by setting up a new organisation structure that will become effective January 1, 2008.
Historically, Tata Steel has always been among the biggest companies in the group in terms of m-cap, revenue, and profit but its fortunes began to decline after 2010 due to a sharp decline in the profitability of its European operations that it had acquired in 2007. The company was hit by a sharp rise in its debt level after this acquisition. First, it lost out to Tata Motors in terms of revenue in FY11 and then in March 2015, Titan beat it to become the third-biggest firm in the group in terms of m-cap. In FY20, TCS reported higher revenue and Tata Steel had become the third biggest company in that terms.
Indian benchmark indices Sensex and Nifty experienced volatile trade, declining in early deals before fluctuating, as investors reacted to unabated foreign fund outflows and rising geopolitical uncertainties, particularly in West Asia.
Indian benchmark indices Sensex and Nifty closed marginally lower due to profit-taking, following the Reserve Bank of India's decision to keep the repo rate unchanged while lowering its growth expectations for the current fiscal year and forecasting higher inflation.
More than 2,800 jobs will be axed as Tata Steel plans to close its blast furnaces at the Port Talbot plant in South Wales in the UK. Of the total job cuts, 2,500 will be in the next 18 months, said Indian conglomerate Tata. A further 300 jobs are to go in three years.
Tata Steel, world's sixth largest steel maker on Wednesday said it has bagged the 'Golden Peacock' award for 2009 for its corporate social responsibility initiatives.
Tata Steel Ltd on Thursday announced a 50:50 joint venture with Australian steel producer BlueScope Steel for setting up metallic coated steel production facility.
The chairmanship of Tata Motors and Tata Steel after Ratan N Tata steps down at the end of 2012 appears to be an open question. It will be up to the new Tata group chairman, Cyrus Mistry, whether he decides to succeed Tata in heading two of the largest group companies or opt for new chairpersons for them.
The Indian steelmaker, which bought the Mozambique project with Australia-listed Riversdale Mining, sees the mine as essential in ensuring it has a sustainable supply of coking coal.
While companies in India are busy using the platform provided by movies to promote their brands and products, home-grown steel major Tata Steel has sponsored a commercial film to talk about environmental issues. Hello Zindagi, a movie venture supported by Tata Steel and Dhamra Port Company Ltd, which released on March 5, highlights the sensitive issue of the conservation of Olive Ridley turtles in the story.
Companies are already diversifying sourcing, raising prices, and reworking operating models as the disruption drags on.
Former Chairman and Managing Director of Tata Steel, Russi Mody, 96, passed away in Kolkata on Friday.
Adding to its list of Ford, Maruti, Hyundai, Toyota, Tata Steel now boasts of Nissan and Volkswagen as buyers of Tata Steel.
The company stock ended up 4.49 per cent.
Six months after acquiring Anglo-Dutch steel giant Corus, Tata Steel has put the foreign company's aluminium business on the block.
"Yes, we will continue to hold on to our stake," Tata Steel's Vice-Chairman B Muthuraman told reporters on the sidelines of an industry event in New Delhi.
Indian Grandmaster Vidit Gujrathi prevailed over Russia's Daniil Dubov in the third round to become the sole leader with 2.5 points in the prestigious Tata Steel Masters chess tournament in Wijk Aan Zee, The Netherlands.
Analysts sceptical whether company will sustain rise in operating profits.
Tata Steel, India's largest steelmaker, has consolidated all its overseas assets including Corus under a new holding company, Tata Steel Global, to raise funds for its overseas expansion including future acquisitions.
