Tata Steel's June quarter profit has slowed down on higher input cost.
Market capitalisation of BSE-listed companies jumped to an all-time high of over Rs 280 lakh crore on Monday as benchmark indices bounced back after taking a breather in the previous trade. The 30-share BSE benchmark gained 85.88 points or 0.14 per cent to settle at 61,308.91. During the day, it jumped 162.45 points to 61,385.48.
The Congress on Friday alleged that the electoral bonds data has exposed 'corrupt tactics' of the Bharatiya Janata Party such as quid pro quo, seeking donations for the company's protection, kickbacks and money laundering through shell companies.
The Sittwe deal is more significant than Chabahar in Iran, where India has rights to operate only two terminals and not the port itself.
An easy, simple breakfast or brunch, that goes well with toast.
While write-off will push up its debt equity ratio, decline in equity will push up return ratios.
Tata Consultancy Services' (TCS') contribution to the overall market capitalisation (mcap) of listed Tata group companies has slipped below 50 per cent for the first time in over a decade. This has happened amid a rally in other Tata stocks, led by smaller companies, even as TCS, the group's largest company by mcap, has lagged. In recent quarters, Tata's listed firms have emerged as leading performers on the bourses, with the group's combined mcap crossing Rs 30 trillion early last week - a first for a private sector conglomerate.
Due to the group's presence across multiple businesses, it is in a unique position in the aviation industry to bring the best of talents.
Capital expenditure by Indian companies is likely to see an uptick in the upcoming quarters as capacity utilisation has surpassed the critical threshold of 75 per cent, and numerous companies have deleveraged their balance sheets, according to analysts. The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices. This, according to analysts at Care Ratings, should stimulate a revival in the private capex cycle.
The main reason for the move is the volatility in prices and inconsistent supplies for value-added grades.
Private steel maker JSW Steel on Tuesday said Japan's steel major JFE will buy 14.99 per cent stake in the company for over Rs 4,800 crore (Rs 48 billion), a move that may help the Indian company reduce its debt.
Jindal's house was raided by the CBI on Tuesday.
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.
State-owned BHEL on Friday said it is in talks with SAIL and Vizag Steel to tie up for manufacturing high grade steel, while Korean steel maker Posco may join the proposed joint venture company as a technology partner.
Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.
Tata Steel has expanded its presence in Orissa following acquisition of 100 per cent of equity stake in Rawmet Industries Private Limited, a company having its registered office at Kolkata, at an enterprise value of Rs 101 crore (Rs 1.01 billion).
Jindal Steel and Power Ltd has shelved a $10 billion coal-to-diesel project, its chairman told Reuters, becoming the first big casualty of a court decision to scrap coalfields allocated to private firms since 1993.
Mistry would be succeeding as the chairman of Tata Group.
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.
With the Tatas agreeing to sell its Scunthorpe steel plant in the UK to investment firm Greybull for a nominal one pound, the storied 'British Steel' name will be back in the now-ailing industry.
India Inc is set to post an 18-20 per cent revenue growth for July-September as compared to the year-ago period, domestic rating agency Crisil said on Thursday ahead of the filing of quarterly earnings by companies. The handsome growth in the topline will be driven by both higher volumes and higher commodity prices, the rating agency said. However, the rising input prices may have capped operating profit margin expansion for companies when compared to the preceding quarter, the agency said.
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.
Led by Tata Motors and Tata Consultancy Services (TCS), the combined revenue of the Tata group's listed firms crossed the Rs 10-trillion mark for the first time, in 2022-23. The group's 14 key listed companies in which Tata Sons holds a direct equity stake reported a combined revenue of Rs 10.07 trillion in FY23, up 15.3 per cent from Rs 8.73 trillion in FY22. The combined net profit of these companies was, however, down 10.6 per cent year-on-year (YoY) at Rs 66,670 crore in FY23, from a record high of Rs 74,540 crore in the previous financial year, when the profit had jumped 156 per cent YoY, aided by Tata Steel's strong showing.
Almost all major metal and mining firms would be affected by the Supreme Court ruling canceling 214 coal blocks, but Naveen Jindal's JSPL and Aditya Birla Group's Hindalco would be among the worst hit, analysts said.
Analysts assert that Vedanta Group's plan to demerge India-listed Vedanta Limited into six listed entities will not resolve the debt problem of its promoter entity, Vedanta Resources (VRL). They suggest that additional asset sales or stake sales by promoters will be necessary to repay the debt. Vedanta is already considering the divestment of its iron-steel division and its copper plant.
Prime Minister Narendra Modi had in June dedicated the modernised and expanded Bhilai Steel Plant to the nation.
Among Sensex shares, HCLTech, Asian Paints, Maruti, JSW Steel, TCS, SBI, ITC and Bharti Airtel were the major losers. On the other hand, Bajaj Finserv, Mahindra & Mahindra, Titan, L&T and Wipro were the major gainers.
Netherlands-based Mittal Steel on Tuesday claimed it has met the minimum conditions for takeover of Arcelor by acquiring 50 per cent of the Luxembourg-based company's outstanding shares.
South Korean steel giant Posco has narrowed down on Sanand (Gujarat) for setting up its steel coil unit at an investment of $20 million.
State Bank of India's push among fellow bankers to appoint an external agency to run debt-heavy Bhushan Steel might not be smooth sailing.
The country's largest steel producer has targeted to install an annual production capacity of about 23 million tonnes against the present 14 million tonnes.
Welspun Maxsteel, wholly owned subsidiary of the $3-billion Welspun Group, has kept its proposed steel factory plan in Maharashtra on hold due to the shortage of raw material and energy. The delay in environment clearances has also forced the company to keep the project in abeyance for now.
Are faulty design, hurried construction and private ownership to be blamed for the incidents of airport roofs crashing?
Essar Global on Wednesday announced the acquisition of Minnesota Steel, a US-based privately held company with iron ore reserves of 1.4 billion tonne, for an undisclosed amount.
After six years of probe, the Central Bureau of Investigation filed the closure report before a special court last week as it could not find enough evidence in the case to proceed with prosecution, the officials said.
Tata Steel would make a bid for buying the Indian iron ore assets of one of Britain's largest independent steel trading companies Stemcor.
