With the worst in terms of pricing pressures behind Tata Steel, its outlook is expected to improve. Europe has seen hot rolled coil prices rise this January after the European Union's (EU's) carbon border adjustment mechanism (CBAM) kicked in and further price improvements may be on the cards once import quotas come into play in June.
There is positive sentiment for Tata Steel on the basis of strong domestic demand, a turnaround of European operations and moderate valuations. A combination of capacity expansion, efficiency gains, higher asset utilisation, and improved operating leverage may lead to margin expansions.
'Due to tariff uncertainty, automotive customers reduced their steel uplift by almost 15 per cent.'
This was the massacre in which 15 farmers fighting against acquisition of their lands were allegedly killed by police.
There has been no change in Tata Steel's strategy on operations in the United Kingdom (UK), company chairman N Chandrasekaran has told shareholders. The statement comes amid growing concern about the restructuring plan in the face of change in government in the UK. Tata Steel's plan for the UK entailed a 1.25 billion investment plan agreed upon by the Conservative party-led government in September last year.
'When you look at reviving private sector capex, I don't think there's a better story than steel.'
'The UK is more of a structural problem, and that's why we're doing the restructuring.'
From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up.
'Interim Budget has ignited the entrepreneurial spirit.'
There was an acceptable domestic performance in India but there continues to be concerns about the Europe business and that overshadows the local performance. The consolidated revenues for the Q2FY24 stood at Rs 55,682 crore with an operating profit of Rs 4,315 crore and an operating profit margin of 8 per cent.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
New products being designed mainly for auto, oil & gas sectors; firm is raising Kalinganagar plant capacity from three mtpa to eight mtpa
'It's an open secret that the UK business is structurally not in a great place.'
The Centre has conceded most of the demands of potential buyers of Neelachal Ispat Nigam Ltd (NINL). These include lowering the lock-in period for sale of assets to one year and allowing the new buyer to undertake the amalgamation of a special purpose vehicle (SPV) into NINL. An inter-ministerial group led by Department of Investment and Public Asset Management (Dipam) secretary Tuhin Kanta Pandey and the core group of secretaries on divestment (CGD) headed by Cabinet secretary Rajiv Gauba have decided that the lock-in period can be reduced to one year from the date of completion of sale, from the earlier three years proposed by Dipam, an official in the know said.
Promoters have not proved they mean well for the community.
'He was sought after because he delivered.' Ishita Ayan Dutt profiles Tata Steel's new boss.
Tata Steel would make a bid for buying the Indian iron ore assets of one of Britain's largest independent steel trading companies Stemcor.
Tata Steel delivered one of its best financial performances ever in the third quarter of the current financial year, and surpassed its deleveraging target of $1 billion. In an interview, Koushik Chatterjee, executive director and chief financial officer, Tata Steel, tells Ishita Ayan Dutt that the company will continue to focus on deleveraging but profitable and value-added growth will be equally important.
Tata Steel's margins may remain under pressure in FY15.
Tribals on Friday took out separate rallies in Orissa's Kalinganagar area, both in support of the Tata Steel project and against it, to mark the third anniversary of killing of 14 tribals in police firing.
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.
A squad of about 300 special Central Industrial Security Force commandos has taken over the security of a large Tata Steel manufacturing facility in coastal Odisha, making it the 7th private sector concern in the country to get armed cover by the paramilitary force to ward off terror threats.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
The steelmaker's India basket grew after Tata Steel completed its acquisition of Bhushan Steel under the Insolvency and Bankruptcy Code process and its subsidiary, Tata Sponge, acquired Usha Martin.
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.
The state presently has 17 airstrips and 16 helipads.
Vistara'a launch, the steel plant at Kalinganagar and e-commerce venture are the ones most awaited for
Tata Steel is to form a committee to undertake a social audit of its Kalinganagar project in Orissa, in a bid to counter allegations on the negative impact of industrialisation.
Liquidity crisis and demand slowdown has forced Tata Steel, the country's largest steel maker, to put brakes on its greenfield projects in Jharkhand and Chhattisgarh.
The Tata Group has decided to defer its plan of setting up a rural business process outsourcing unit near the proposed steel plant at Kalinganagar in Orissa by two years.
The rural BPO centre will be established by the Tata Business Support Services -- the BPO wing and a wholly-owned subsidiary of Tata Sons -- in partnership with Tata Steel Rural Development Society -- a corporate NGO managed by the Tata Group for the last 60 years. To start with, it is expected to employ around 200 people. Sources close to the development said the company has already recruited the first batch of the executives for the BPO unit.
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.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
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.
The NINL management can see this as their moment of giving back to the nation and humanity. Its plant has an oxygen unit that can produce 418 tonnes of oxygen every day. 418 tonnes is about 58% of Delhi's daily demand for oxygen, notes Sudhir Bisht.
Sixteen companies in the group registered a turnover of over $500 million, with ten of these registering a turnover of over $1 billion
Mass agitations are not particularly uncommon in India. But a mass agitation led by an environment-related issue that has gone out of hand is not something that can be easily recalled.
Tata Steel is fine-tuning strategies to enhance revenues.
This amendment is proposed to be made retrospectively effective from FY16 onwards.
This is largely on the back of Tata Steel's expansion at Kalinganagar, as well as JLR's in China and Brazil
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