The company's planned capex for 2019-2020, which was Rs 12,000 crore, has now been revised down to around Rs 8,000 crore.
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.
Dalal Street investors were a poorer lot on Monday as their wealth eroded sharply by Rs 14 lakh crore following a sharp decline in benchmark indices amid a global market meltdown due to recession fears. The 30-share BSE Sensex tumbled 2,226.79 points or 2.95 per cent to settle at 73,137.90. Intra-day, the benchmark slumped 3,939.68 points or 5.22 per cent to 71,425.01.
A bleak demand outlook for steel in the domestic as well as global market is also another reason Tata Steel may be looking to have additional liquidity as margins are expected to take a hit in the coming quarters.
New products being designed mainly for auto, oil & gas sectors; firm is raising Kalinganagar plant capacity from three mtpa to eight mtpa
Six months after acquiring Anglo-Dutch steel giant Corus, Tata Steel has put the foreign company's aluminium business on the block.
In a groundbreaking moment for Indian chess, Arjun Erigaisi has become the second player from India and the sixteenth player globally to surpass the 2800 live rating mark.
Gukesh will have to carry with him the tag of world champion and along with it loads of expectations and increased scrutiny. But the 19-year-old is prepared to stand in the limelight.
In the first-ever auction of 'enemy property' that the Indian government has held since the 1971 Indo-Pak war, rights shares of Tata Steel were sold to an Indian investment firm for Rs 485 per share against the rights issue price of Rs 300 per share.
"'His mantra was simple yet profound: Be number one or be ready to be wiped out. There's nothing in between," he used to say and it was a reminder for all to always aim high, to push boundaries, and to strive for excellence.
The company said it had extended financial support to the UK business.
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.
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.
R Praggnanandhaa split points with Czech hero David Navara while compatriot Aravindh Chithambaram escaped with a draw with another local star Nguyen Thai Dai Van in the first round of the Prague Masters.
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.
Tata Steel on Wednesday said it has initiated the construction of a technical training institute near Gopalpur in Ganjam district of Orissa.
'Ratan had the quality that JRD and Russi Mody had -- they could walk with kings and never lose the common touch.'
The UK steel industry is struggling for survival in the face of extremely challenging market conditions.
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.
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.
The industry is facing scarcity of raw material and steel import is on a rise.
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.
Grandmaster R Praggnanandhaa scored his second victory on the trot, outwitting Vincent Keymer of Germany to join compatriot Aravindh Chithambaram at the top on three points after the end of the fourth round of the Prague Masters.
Tata Steel plans to invest nearly Rs. 600 crores on limestone deposits in Oman.
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