Tata Steel has a very British problem. The performance of Europe dragged the steel major's October-December (Q3FY23) performance with the UK business accounting for a major part of the operating loss; on the bottom line, the overhang of the British Steel Pension Scheme (BSPS) showed. And a nearly three-year discussion with the UK government on a support package for a green transition resulted in an offer that fell short of the ask.
From the 30 Sensex companies, Zomato, Tata Motors, IndusInd Bank, Asian Paints, Bajaj Finance, Maruti Suzuki India, Adani Ports, Hindustan Unilever, Reliance Industries, Bajaj Finserv, UltraTech Cement and Infosys were among the laggards. In contrast, State Bank of India, ICICI Bank, Tata Steel, NTPC, Tata Consultancy Services, PowerGrid, Kotak Mahindra Bank and Sun Pharmaceuticals were the gainers.
'For the Indian economy to maintain a growth rate of 7 to 8 per cent, it needs large foreign direct investment coming in, and that's mainly coming from the US.'
ArcelorMittal does not favour futures trading in steel, as it could distort the prices of the commodity completely.
Tata Iron and Steel Company Ltd said on Saturday that its crude and saleable steel production as well as domestic sales during April-December 2004 increased by six per cent and seven per cent respectively.
Mittal Steel Company NV, which acquired Luxembourg's Arcelor SA for $38.3 billion last year, said on Thursday it would complete the transaction in a two-step merger this year.
\n\nNRI steel tycoon Lakshmi Mittal appears to have crossed the first hurdle with three European regulators publishing the official $22.1 billion bid for his takeover of the Luxembourg-based Arcelor steel company.\n
Arun Maira who worked for 25 years with the Tata Group, remembers his early years with Ratan Tata.
Tata Iron and Steel Company on Monday decided to issue bonus shares in the ratio of 1:2, subject to shareholders approval.
Fitch Ratings on Monday said India's steady GDP growth outlook, improved banking sector's financial health and expected interest-rate cuts in 2025 will support credit access for corporates in FY26.
Even as its 12 million tonne steel project in Orissa is waiting to take off, South Korea's Pohang Steel Company, the world's fifth largest steel maker
Earlier, Trump has already talked about slapping "100 per cent tariffs" on the BRICS grouping, a bloc that includes India as well.
Fundraising momentum is expected to accelerate further in the New Year, potentially surpassing 2024's record figures
Here is a list of Q & As to explain these issues and implications of the US move.
Bolivia has said that the multi-billion dollar contract it signed with India's Jindal Steel to develop an iron ore mine has not been rescinded, but the steel company would have to pay a penalty for not fulfilling the terms of the agreement.
There are many companies in the world, but not all do business ethically.
Non-resident Indian steel baron L N Mittal's LNM group has submitted an offer for the privatisation of selected production assets of Poland's leading steel company Huta Czestochowa.
Stung by the crisis arising out of the Syndicate Bank bribery case, lenders have gone into a fire-fighting mode to avoid fresh bad loans from their exposure to Bhushan Steel, one of the most indebted steel companies in the country.
Rajbaris are a link to Bengal's rich past, of grand mansions, classical fine dining, and allow guests to be pretend zamindars for those few hours or days that they stay.
According to data available on the website of World Steel Organisation, only eight steelmakers produced over 20 million tonne (mt) steel in 2009 with ArcelorMittal, leading at 77.5 mt.
Five major steel producers including SAIL, Tata Steel and Essar have decided to hold the price line for up to three months after an appeal by Prime Minister Manmohan Singh not to manipulate prices for short-term gains. India has said it will take measures to bring down steel prices, but would first wait to see if producers do it on their own. High steel prices are partly to blame for soaring inflation, which rose to 7.33 per cent for the week ended April 12.
Leading oil companies dedicated the second day of India Energy Week (IEW) 2025 to announcing strategic deals and business agreements across the supply chain - from sourcing more crude oil supply to deploying more domestic ships and building gas distribution capacity.
The commerce ministry is working on different scenarios to assess the possible fallout of reciprocal tariffs to be imposed by the US administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to announce tariffs or import duties to bring down America's trade deficit, and promote the country's manufacturing.
'Ratan had the quality that JRD and Russi Mody had -- they could walk with kings and never lose the common touch.'
With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts. Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) - Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem - constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
Mittal Steel Company NV announced on Thursday an interim dividend of $0.125 per share for its European and New York Stock Exchange shareholders.
While the maximum bonus will be Rs 130,463, the minimum will be Rs 26,610.
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
The Indian industry is paranoid about the USA's plan to impose reciprocal tariffs and wants early conclusion of a bilateral trade agreement, sources said on Wednesday. They said that the talks for the proposed bilateral trade agreement are going well.
