Tatas plan to revive, not sell the Port Talbot steel plant. The investment could be as much as $500 million.
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
Vistara'a launch, the steel plant at Kalinganagar and e-commerce venture are the ones most awaited for
Apart from being the most successful cases under the IBC, Bhushan Steel and Essar Steel are among the best steel assets in the country. They also ended up helping their lenders get back a significant chunk of the money while allowing Tata Steel to consolidate its position and giving the world's two largest steel makers - ArcelorMittal and Nippon Steel - a strong foothold in India. A significant contrast was the pace at which these two cases were resolved under the bankruptcy code. In the annals of the Insolvency and Bankruptcy Code (IBC), Essar Steel may go down in history as the most noticeable resolution with the world's largest steelmaker, ArcelorMittal, and the incumbent, Ruia family, locked in an intense battle spanning more than two years and ultimately resulting in full recovery of the principal amount for the financial creditors.
Tata Steel is bracing to deliver what investment bankers say will be a knockout punch to its competitor, Brazil's Companhia Siderurgica Nacional
Corporate behemoth Reliance Industries and two Tata Group firms - Tata Motors and Tata Steel - have emerged as the country's most admired companies for their corporate social responsibility initiatives, says a survey.
Brazilian steel major makes counter-bid at 4.75 a share.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
The contract would come into effect in 2009, Tata Steel said.
Tata group companies have outperformed the broader market over the past four years, under the chairmanship of N Chandrasekaran. However, the group's fortunes rely heavily on the performance of Tata Consultancy Services (TCS) now, as compared to the past. The combined market capitalisation of the group's listed companies has nearly doubled in the last four years, against a 77 per cent rally in the benchmark Sensex during the period. The overall market value of 16 key group firms - excluding listed subsidiaries of such entities - stood at Rs 16.8 trillion as of Friday. This was close to 2x the Rs 8.45 trillion as of February 21, 2017 - the day Chandrasekaran took charge as chairman of Tata Sons.
Shareholders of Tata Sons, the holding company and promoter of Tata group companies, have approved the reappointment of N Chandrasekaran as chairman for another five-year term despite its single largest shareholder the Shapoorji Pallonji family abstaining from voting, according to sources. In February this year, the Board of Tata Sons had approved the reappointment of Chandrasekaran as executive chairman for another five years till February 2027, subject to shareholders' approval. At the shareholders meeting held on Monday, the proposal for Chandrasekaran's reappointment for a second term needed more than 50 per cent of votes as it was an ordinary resolution.
Take the Rediff Business Quiz and find out how much you know about one of India's greatest industrialists.
The High Court in Britain has approved the $12 billion take over of Anglo- Dutch steel maker Corus Group by the Indian Steel giant Tata Steel. The deal is expected to be completed by early next week.
Reliance Industries, the Tata group, Bharti Airtel and Aditya Birla are among Indian conglomerates that have hedged their revenue and costs linked to the US dollar, giving them financial cover as the rupee fell past 80 against the greenback on Tuesday.
These patents are primarily in the area of computation and data processing.
Auto parts exports from India may see a slight slowdown as US President Donald Trump's 25 per cent tariff could increase car prices for buyers by 8-25 per cent, thereby affecting demand, experts believe.
The Tata Steel board will meet shortly to take stock of the situation arising out of Brazilian steel-maker Companhia Siderurgica Nacional's move
The group, however, measured the economic value of just 43 creative ideas out of 1,700 innovations that took place within the Group last year.
Dispute relates to premature termination of a deal to buy TCP steel
Gupta has expressed an intent to buy Port Talbot, Britain's biggest steelworks
Since the acquisition by Tata Steel in January 2007, which catapulted the domestic steel major to the world's sixth, this is the first layoff announced by the Corus.
For the first time, the Data Security Council of India assembled a joint task force to source threat intelligence at the origin and ensure coordinated action across the cybersecurity spectrum.
Bankers and brokers allied to Brazil's Companhia Siderurgica Nacional scaling up their combined stake in the company to over 19 per cent.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
On Friday, shares of Tata Motors rose by 2.68 per cent and Tata Steel went up by 1.85 per cent on the Bombay Stock Exchange.
Tata group company Tata Steel will issue equity shares on a rights and preferential basis to raise about Rs 10,000 crore (Rs 100 billion) to repay 'bridge loans' raised for funding acquisition of British steel behemoth Corus. The issue will close on December 21, a spokesperson said, adding that the record date for the issue was November 7.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Higher valuation of Corus may put pressure on Tatas' financials.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
April-June 2023 (Q1FY24) was a mixed quarter for India's top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.
Small- and mid-size companies where Cyrus was the chairman did better on bourses than large Tata group companies
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 stage appears set for a battle royale between Indian corporate giant Tata Steel and Brazil's CSN for acquisition of Anglo-Dutch steel maker Corus, with both the suitors reportedly willing to raise their bids.
The nine-round auction called by the UK Takeover Panel to decide the winner between the two suitors began at 2200 hrs Indian time (1630 hrs GMT) and will end the slugfest that has been on for three months.
Tata Consultancy Services, the $73 billion IT group, is India's biggest company by market value and four times the size of any other listed Tata entity
Speaking on the sidelines of CII annual regional meeting in Kolkata on Tuesday, Tata Steel group CFO Koushik Chatterjee confirmed that production cut continues to be around 40 per cent. Exuding confidence that the company will be able to save 600 million pounds by March as envisaged, Chatterjee said, "The cost saving measures are on track at Corus in line with the target."
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances