The company agrees to discussions for long-product division with Swiss group Klesch.
The chairmanship of Tata Motors and Tata Steel after Ratan N Tata steps down at the end of 2012 appears to be an open question. It will be up to the new Tata group chairman, Cyrus Mistry, whether he decides to succeed Tata in heading two of the largest group companies or opt for new chairpersons for them.
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.
Since Ratan Tata , the patriarch of India's Tata Group, decided to splash out $13.1bn early in 2007 on Anglo-Dutch Corus, he has spent a lot of time with smooth-talking Frenchman Philippe Varin , who has run Corus for five and a half years.
The company said it had extended financial support to the UK business.
The Indian operations continued their steady performance against a backdrop of lacklustre demand in the market place and increasing imports.
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.
India's leading passenger vehicle manufacturers are significantly increasing investments and factory capacities, alongside planning major product launches for FY27, driven by strong confidence in sustained domestic demand growth despite global geopolitical tensions and supply chain risks.
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
Tata Steel, India's largest steelmaker, has consolidated all its overseas assets including Corus under a new holding company, Tata Steel Global, to raise funds for its overseas expansion including future acquisitions.
Seven listed Tata companies together own 12.1 per cent in Tata Sons with a combined book value worth around Rs 30,700 crore.
India's biggest steelmaker Tata Steel is set to merge its British unit Corus with itself by next year to save costs up to 350 million pounds, and the move is likely to put thousands of jobs at risk, a media report has said.
The UK government has promised to put in place measures worth hundreds of millions of pounds to support any rescue deal for the Indian group's UK business.
Tata Motors' MD and CEO, Girish Wagh, has identified rising diesel prices as the most significant threat to India's commercial vehicle (CV) industry recovery, despite the sector recently surpassing its pre-FY19 wholesale peak. Diesel costs account for 25-50% of a truck operator's total cost of ownership, making any increase a critical concern for fleet economics.
Do you think this acquisition further fortifies the belief that India is a rising giant? Are you happy with the Tatas managing to beat Brazil's CSN to buy Corus? Do you think the Tata Group is set for big growth in the future? Tell us.
The idea is to create a start-up-like activity with a small business unit.
The acquisition is scheduled to take effect from April 2
The 57-year-old Charudatta, a Tata Steel official, was constantly humiliated and harassed between May 2012 and May 2013 following which he took the drastic decision to end his life.
The world's sixth largest steelmaking group, which has been stepping up its raw material security at a frenetic pace, has 300 million tonnes of iron ore reserves in India.
The board of Tata Steel, which will enter an open bidding war with Brazil's CSN for Corus on Tuesday, met in Mumbai presumably to discuss the strategy for the auction and also consider the quarterly results.
Thanks to its acquisition of the Corus group, Tata Steel has made it to the Fortune 500 list even as India's largest corporate Reliance Industries climbed 63 places up to 206th rank. Companies qualify to the list on the basis of their revenues.
After steering the company for 21 years, Tata will pass on the leadership baton to his successor designate and present deputy chairman of Tata Sons, Cyrus Mistry in December, when Tata turns 75.
The Tata Group had acquired its UK steel operations as part of a 6.7 billion pounds acquisition from Anglo-Dutch steelmaker Corus in 2009.
Tata Steel was prepared to make a hostile bid of £4.2 billion (nearly $7.79 billion) if its favoured option of a friendly merger was rejected, the UK newspaper reported.
Shares of Corus Group Plc, surged by 1.12 per cent in trading on Friday on reports that Tata Steel may revise its takeover offer, but stocks of the Indian company fell 1.67 per cent on the bourses.
He is acknowledged as the person behind transforming Tata Steel into the world's 11th largest steel-maker.
Ahmedabad-based Adani Group is said to be the frontrunner to buy out both Tata Steel and Larsen & Toubro's stake in Dhamra.
Management buyout vehicle Excalibur Steel, Sanjeev Gupta's Liberty House metals group, India's JSW Steel Ltd and Greybull Capital have submitted separate bids
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
Shares of Tata Group companies on Thursday rose up to 10 per cent, with Tata Chemicals and Tata Teleservices among the major gainers. Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday. He was 86. "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.
UK's largest union Unite warned Tata against ducking its promises and conducting a 'fire sale' of its specialty steel business
Three Indian companies Wipro, Tata Steel and Tata Power have been named among the World's Most Ethical Companies.
There are seven potential buyers, ranging from the Port Talbot steelworks' management to the UK steel industry investors Liberty House
Besides a minority stake, the UK and Welsh governments are considering additional grant funding
Steel firms brace for good times on the back of better demand.
Tata Steel constitutes committee headed by Ishaat Hussain to ascertain the facts
There was an acceptable domestic performance in India but there continues to be concerns about the Europe business and that overshadows the local performance. The consolidated revenues for the Q2FY24 stood at Rs 55,682 crore with an operating profit of Rs 4,315 crore and an operating profit margin of 8 per cent.
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