"We have appointed a committee to examine the structure and functioning of four companies (MSTC, FSNL, KIOCL and HSCL) and make recommendations regarding their re-organisation, merger with other companies or other structural re-organisation as warranted," Steel Secretary P K Rastogi told PTI. The steel ministry is of the view that the proposed restructuring will enhance the efficiency and profitability of these companies, Rastogi said.
Disappointing quarterly earnings numbers and revenue forecast from IT services company Wipro also weighed on investor sentiments. The 30-share BSE Sensex fell 247.78 points or 0.38 per cent to settle at 65,629.24 points. During the day, it plunged 533.52 points or 0.80 per cent to 65,343.50 points.
Tata Steel, the world's sixth-largest steel maker, has posted a 56.37 per cent drop in third quarter net profit to Rs 466.24 crore from its Indian operation as slowing economic growth and the credit crunch prompted makers of cars and appliances to slash orders. The company reported a drop for the first time in almost three years due to 13.81 per cent fall in the volume of steel sold.
He is acknowledged as the person behind transforming Tata Steel into the world's 11th largest steel-maker.
Five out of the top 10 companies in Fortune 500 list of Indian companies are from the oil sector.
Tata Steel, others sell assets abroad after taking massive impairments.
The Coal Ministry has issued show-cause to eight firms including Hindalco Industries and Mahanadi Coalfields, and sought explanation from five firms for delays in commencing production from mines allocated to them.
The company said it had extended financial support to the UK business.
The footage, which has swiftly gone viral, showcases an act of abuse that has sparked widespread condemnation and calls for justice among the civil society in Mangaluru.
Apprentices get at an average of Rs 10,000 to Rs 12,000 per month which can double after one year of on-the-job training.
The company substantially improved its performance over the corresponding period last year by registering a six per cent and eight per cent growth in saleable steel production and sales, respectively.
Small- and mid-size companies where Cyrus was the chairman did better on bourses than large Tata group companies
In a dazzling showcase at Apple Park, Apple on Monday introduced its latest technological marvels, including the much-anticipated iPhone 16 lineup. The event, held at the newly inaugurated Observatory building, featured an array of exciting updates that promise to redefine the smartphone experience.
Analysts sceptical whether company will sustain rise in operating profits.
India's gain will be an additional business of $300 million to $400 million per month if 10-11% of Bangladesh's export is diverted to Indian hubs like Tiruppur.
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.
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
Stocks in the automotive, financial, cement, metal, and hotel sectors are likely to benefit if the Narendra Modi-led Bharatiya Janata Party (BJP) comes back to power for a third time. The key investment themes have been identified after analysing the Sankalp Patra - the party's manifesto for the next five years - released on Sunday.
Anil Ambani's Reliance Power tops the table with 3.46 million shareholders
One of the beneficiaries is Jindal Steel and Power, which had earlier been kept out of procurement for rails
The Sterlite group is gearing up to revive its steel project in Orissa in partnership with a foreign company
Mongolia can take a lifetime to happen but rewards the intrepid traveller with enduring memories of a surreal, delightful land.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Power generation and distribution is the most indebted sector
Analysts tracking Corus said the steel company's workers had witnessed nearly 8,000 job cuts in the last eight years and were, therefore, apprehensive of Tata Steel's intentions.
Ved Prakash who has been working in the field of recyclable raw materials for 29 years aims to 'create value' every day.
These firms owe Rs 13 trillion to lenders and account for 55% of all non-financial corporate debt.
Ruias-controlled Essar group on Thursday said it will delist its two steel and oil arms from stock exchanges to gain more flexibility in running the companies.
Among the Sensex firms, HCL Technologies, Tata Consultancy Services, Maruti, Wipro, Larsen & Toubro, Infosys, Tata Steel, Bharti Airtel, State Bank of India, Tech Mahindra, UltraTech Cement and Mahindra & Mahindra were the major gainers.
Over the weekend, many companies stepped in to ease the bottleneck in supply and transportation of oxygen, as demand ran high with the surge in cases.
Steel producers have already increased prices by 3-5 per cent, which will consequently hit the construction and automobile industries.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
They are snapping up ore and coal abroad, as their availability is stuck at home.
'The scheme excludes tractors, light commercial vehicles, and medium and heavy commercial vehicles.'
I-T officials were scrutinising documents related to purchase orders and other financial dealings.
Japan's fourth largest steelmaker Kobe Steel plans to set-up an iron nugget plant in India and is currently in discussions with the diversified Chowgule group of Goa.
