Analysts sceptical whether company will sustain rise in operating profits.
Tata Steel delivered one of its best financial performances ever in the third quarter of the current financial year, and surpassed its deleveraging target of $1 billion. In an interview, Koushik Chatterjee, executive director and chief financial officer, Tata Steel, tells Ishita Ayan Dutt that the company will continue to focus on deleveraging but profitable and value-added growth will be equally important.
Usually, in the western view, corporate success is attributed to efficiency, organisational structure, and scale. R Gopalakrishnan and Harish Bhat argue that philosophy, culture, and the transmission of values are more important for sustaining growth and profitability of an enterprise over a period of time.
Managing director of Tata Steel B Muthuraman and vice chairman of Goldman Sachs group Suzanne Nora Johnson are among the 20 business labour and civil society leaders named by the UN to serve on Global Contact group.
The company was also in the process of preparing the vision document for the year 2015.
Tata Steel's margins may remain under pressure in FY15.
The Indian steel industry is faced with a paradox: Rising demand and falling prices. Demand continues to surge as user industries gather pace, with the World Steel Association projecting around 9 per cent annual growth for India over 2025 and 2026, the year domestic demand is projected to be almost 75 million tonnes (mt) higher than in 2020.
Benchmark stock indices Sensex and Nifty dived sharply by nearly 2 per cent on Sunday after Finance Minister Nirmala Sitharaman proposed a hike in the Securities Transaction Tax (STT) on derivatives. Reversing the early gains, the 30-share BSE Sensex plunged sharply by 2,370.36 points or 2.88 per cent to slide below the 80,000-mark at 79,899.42 in afternoon trade as the finance minister announced a hike in STT on futures contracts to 0.05 per cent from the current 0.02 per cent.
Tata Steel has warned its suppliers that if they do not slash prices by up to 30 per cent in the long term then they risk losing the steel giant's business.
Tata Motors' commercial-vehicle (CV) business reported a 48 per cent year-on-year decline in net profit to Rs 705 crore in Q3FY26, even as profit before tax (PBT) rose 65 per cent to Rs 2,568 crore.
Besides a minority stake, the UK and Welsh governments are considering additional grant funding
'Due to tariff uncertainty, automotive customers reduced their steel uplift by almost 15 per cent.'
The company's planned capex for 2019-2020, which was Rs 12,000 crore, has now been revised down to around Rs 8,000 crore.
Jamshed J Irani, known as the steel man of India, died in Jamshedpur late Monday night, Tata Steel said. He was 86. "The Steel Man of India passes away. It is with profound grief that Tata Steel informs of the demise of Padma Bhushan Dr Jamshed J Irani," Tata Steel said in a statement. He passed away on October 31, 2022 at 10 PM at TMH (Tata Hospital) in Jamshedpur, it said.
It is not clear at this stage whether Tata will take up the government's offer of taking a 25 per cent stake in the business.
Management buyout vehicle Excalibur Steel, Sanjeev Gupta's Liberty House metals group, India's JSW Steel Ltd and Greybull Capital have submitted separate bids
The market capitalisation of BSE-listed companies eroded by Rs 9,40,581.75 crore to Rs 4,50,61,658.60 crore (USD 4.90 trillion) in a single day.
India is the second-most-preferred destination among chief executive officers planning international investments - up from the fifth spot last year, according to PwC's 29th Annual Global CEO Survey released on Tuesday. The United States is their first choice.
The proposed changes in Long Products business will predominately affect management and administrative functions at sites in Scunthorpe, Teesside and Workington.
'It is notable how humble he was and didn't want anything different just because he was a Tata.'
"'His mantra was simple yet profound: Be number one or be ready to be wiped out. There's nothing in between," he used to say and it was a reminder for all to always aim high, to push boundaries, and to strive for excellence.
From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up.
Domestic steel prices have seen an increase over the past couple of months in anticipation of a safeguard duty, but a looming global trade war is likely to weigh as threat of import rises and prospect of export flounders. Data from BigMint showed that in March 2025, hot rolled coil (HRC) prices ex-Mumbai increased by Rs 600 per tonne month-on-month (M-o-M), rising from Rs 48,400 per tonne in February to Rs 49,000 per tonne.
JSW Steel, owned by Sajjan Jindal, has emerged as the world's most valuable steelmaker, boasting a market capitalisation (mcap) of nearly $30.31 billion, according to Bloomberg data.
On Mody's death, Tata on Friday said, "Russi Mody was an institution at Tata Steel. Under his leadership, the company grew significantly and he instituted many human resource initiatives.
Quoting Tata Steel managing director B Muthuraman, the daily said the target could be reached partly by improving manufacturing procedures at the Corus plants spread across Europe. The Indian conglomerate Tatas had acquired the Anglo-Dutch steel maker Corus for about $13 billion last year.
India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
Noel Tata -- the half-brother of late Rata Tata -- who takes over as chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts -- that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
'He was sought after because he delivered.' Ishita Ayan Dutt profiles Tata Steel's new boss.
The acquisition of Anglo-Dutch steel company Corus by Tata Steel is expected to be completed by middle of January 2007.
"The project is definitely on," Tata Steel managing director B Muthuraman told reporters on Tuesday. Asked if the previous government did not acquire the land because of the unruly elements, he said "definitely".
The management should have acted as soon as they were made aware of the senior employee's depression and abrupt exit for the company.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
The demand for metal coated steel was on the rise, according to Tolia, with India's current requirements being four million tonnes.
Among the 30 Sensex firms, Tata Motors jumped over 4 per cent, followed by Bajaj Finserv, Bajaj Finance, HCL Technologies, ITC, Reliance Industries, Tech Mahindra, Maruti and State Bank of India. Reliance Industries climbed nearly 2 per cent after Mukesh Ambani, chairman and managing director of the firm, said the board of the company will meet on September 5 to consider issuing bonus shares in the ratio of 1:1.
"In less than three years, India will import 10 million tonnes of steel worth Rs 20,000 crore (Rs 200 billion)," said Muthuraman, addressing the 2nd Asian Mining Congress. In 2006-07, the country imported 3.9 million tonnes of the alloy.
The academy will be inaugurated by 'Flying Sikh' Milkha Singh on May 29.
'Only four or five original companies remain; the rest have been replaced every decade as sectors evolve or leadership shifts.' 'Companies that fail to adapt -- like many textile mills from the 1970s and shipping firms from the 1980s -- disappear.' 'Benchmark indices reward those who reinvent themselves in line with economic demands.'
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