Benchmark Sensex closed above the 85,000 level for the first time while Nifty scaled the 26,000 peak at close on Wednesday as fag-end buying in banking and power shares helped stock markets recoup early losses. After a see-saw trade during the day, the 30-share BSE Sensex rose by 255.83 points or 0.30 per cent to settle at an all-time high of 85,169.87. During the day, it surged 333.38 points or 0.39 per cent to hit a record intra-day peak of 85,247.42.
Tatas plan to revive, not sell the Port Talbot steel plant. The investment could be as much as $500 million.
JLR, Tata Steel Europe CEOs caution staff on high risks of leaving the EU
Corus plans to spend about $140 million for opening two mines in South Africa and Canada, which could produce 10 million tonnes of iron-ore a year by early next decade, while it is also mulling another mining project in Ivory Coast, the report said. The captive mines insulate the company from the steep rises in iron ore prices and give it a similar position as the Jamshedpur plant, it added.
No one is saying the steel industry is out of trouble. The financial crunch continues, and coupled with high cost of input, severely affected the first-quarter profits of steel companies. But most agree with Tata that the signals are encouraging.
The $12.1 billion Corus acquisition-the biggest global acquisition made by an Indian company-ended up as a millstone around Tata Steel's neck, points out Indrajit Gupta.
Gupta has expressed an intent to buy Port Talbot, Britain's biggest steelworks
In the domestic market, the Tata Group has lost ground in the passenger car business.
ITC, Sun Pharma, Maruti, M&M, Tata Motors, HCL Tech, Wipro, Infosys, HUL, Bharti Airtel and Reliance were among the major losers. Kotak Bank rose the most by 1.59 per cent, followed by IndusInd Bank, Bajaj Finance and Bajaj Finserv. L&T, SBI, TCS and HDFC Bank also closed higher.
At the end of 2018-19, the Tata group had a consolidated debt of Rs 2.77 trillion. Tatas not only plan to avoid big-ticket acquisitions for now, the group's main focus will be on improving key metrics and reduce debt, say Shally Seth Mohile & Dev Chatterjee.
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
'It's an open secret that the UK business is structurally not in a great place.'
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
Analysts say Tatas could sustain their current pace of growth, provided the group's "cash cows", such as TCS and Tata Motors, continue to deliver.
Leverage ratio falls to under 1; but group heavily dependent on TCS & Tata Motors.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
Tata Sons said dividend from 40-odd Tata Group firms had declined during Mistry's tenure while expenses had risen
According to a new survey conducted by consultancy major PriceWaterhouseCoopers, about 28 per cent of Indian financial services firms expect to buy stakes in European groups in the next five years and the same percentage intend to enter North America. "Overseas acquisitions by industrial groups such as Tata Steel, Hindalco, Tata Motors and Ranbaxy are clearly proving inspirational," PwC said in its report.
Mistry's strategy appears to be the opposite of the group's stance in the heady days of 2007
The British government has said it was "not prepared" to accept an announcement by Tata Steel and its European subsidiary, Corus, that there seemed no option but to indefinitely suspend operations at one of the latter's factories in north-east England, which means loss of around 2,000 jobs.
With a bid of 608 pence a share, Indian corporate giant Tata Steel outsmarted CSN's 603 pence a share offer during the night-long auction process.
But there are fears that any reform could be reduced to tweaking because the tax is so lucrative.
Tata Ryerson, a 50:50 joint venture between Tata Steel and US-based Ryerson Inc, is investing Rs 120 crore (Rs 1.2 billion) for the Tata Motors' small car project at Singur.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Equity benchmarks Sensex and Nifty closed with gains on Tuesday, following a firm trend in the global markets. Extending its previous day's rally, the 30-share BSE Sensex jumped 361.01 points or 0.60 per cent to settle at 60,927.43. During the day, it rallied 420.26 points or 0.69 per cent to 60,986.68.
Benchmark BSE Sensex gained 130 points on Friday after gains in index majors Reliance Industries, ICICI Bank and Tata Steel ahead of the release of inflation and factory output data. Recovering from its early losses, the 30-share BSE index ended 130.18 points or 0.22 per cent higher at 59,462.78 in a range-bound trade. The broader NSE Nifty advanced 39.15 points or 0.22 per cent to close at 17,698.15.
Cyrus Mistry had put in place a strategy that would have pulled most of the Tata group's 'legacy hotspots' out of the financial mess from legacy issues and helped turn around the group's finances.
Among the main gainers were Jio Financial Services which jumped 4.99 per cent, Tata Steel (2.09 per cent), Maruti Suzuki (1.87 per cent), M&M (1.31 per cent) and Infosys (1.19 per cent).
Equity benchmark Sensex declined over 215 points on Wednesday, weighed by losses in index heavyweight Reliance Industries, Bajaj Finserv and Tata Steel, after the Reserve Bank raised the key interest rate by 35 basis points. Subdued Asian markets and continued selling by foreign investors also weighed on sentiment, traders said. Extending its losses for the fourth straight session, the 30-share BSE Sensex ended 215.68 points or 0.34 per cent lower at 62,410.68.
Equity markets opened the trade on a lower note on Monday, extending the previous day's fall, with the Sensex tanking 785 points in early trade, mirroring an extremely weak trend in Asian markets. Also, unabated foreign fund outflows and selling in index majors Reliance Industries, Infosys and TCS added to the weak sentiment. The BSE benchmark Sensex was trading 785 points lower at 56,412.14. The NSE Nifty declined 243.35 points to 16,928.60
'The idea is to align the HR policies and work culture with changing times'.
Gains in IndusInd Bank, HCL Tech, TCS, Tech Mahindra, NTPC, ITC, JSW Steel and Tata Steel helped the barometer scale a fresh high. Axis Bank fell the most by 1.26 per cent, M&M by 0.99 per cent and Hindustan Unilever by 0.67 per cent. Maruti, Bajaj Finserv, Bharti Airtel and HDFC Bank and Infosys also declined.
It is believed that Tata Sons was unhappy with Mistry's approach of shedding non-profit businesses, including the conglomerate's steel business in Europe, and concentrating only on cash cows
Equity benchmark Sensex surged past the 57,000-mark by rallying over 1,000 points on Thursday, tracking an overall bullish trend in global equities despite the US Federal Reserve hiking rates. The 30-share BSE index closed 1,047.28 points or 1.84 per cent higher at 57,863.93. Likewise, the NSE Nifty surged 311.70 points or 1.84 per cent to end at 17,287.05.
ITC was the top loser in the Sensex pack, slipping over 3 per cent, followed by Maruti, Infosys, NTPC, HCL Tech and Tata Steel. NSE Nifty shed 63.20 points to close at 18,114.90.
From the Sensex pack, Reliance Industries fell the most by 2 per cent. Tata Steel, Bajaj Finserv, ITC, NTPC, Bharti Airtel, Tech Mahindra, Titan, Axis Bank and Bajaj Finance were among the other major laggards.
Fourteen per cent of the $16 billion invested by Ratan Tata in M&As abroad has been written off by his successor.
From the Sensex pack, Infosys, Tata Motors, UltraTech Cement, HDFC Bank, NTPC, IndusInd Bank, Larsen & Toubro, HCL Technologies, Power Grid, Maruti, HDFC and Tata Steel were the major laggards. Kotak Mahindra Bank, Asian Paints, Nestle, Titan, State Bank of India and Reliance Industries were the gainers.
Grandmaster D Gukesh endured a heartbreak in the final tie-breaker against Wei Yi of China and had to be content with a joint second place finish at the Tata Steel Masters chess tournament in Wijk Aan Zee, The Netherlands.
Equity benchmarks bounced back sharply on Friday after facing a heavy drubbing in the previous trade, with the Sensex and Nifty jumping nearly 3 per cent, aided by positive trends from global markets and across-the-board buying. Index majors Reliance Industries and HDFC twins saw robust buying, helping the benchmarks. The 30-share BSE Sensex rallied 1,534.16 points or 2.91 per cent to settle at 54,326.39.
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