"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.
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
Arun Maira who worked for 25 years with the Tata Group, remembers his early years with Ratan Tata.
The US's recent 50 per cent tariff on Indian exports will have a trickledown effect on India's affordable housing, potentially derailing demand as well as supply in this segment, according to experts. Pointing to worker incomes and jobs in micro, small and medium enterprises (MSMEs), and small and medium enterprises (SMEs) that typically make up majority of the customer base of affordable housing, would take a hit in the near terms due to the tariff change, further crippling India's affordable housing sector, already reeling from the impact of the Covid-19 pandemic.
Tata Steel is fine-tuning strategies to enhance revenues.
NMDC Ltd has decided to set up its second steel plant in Chhattisgarh and is in talks with two companies to form a joint venture. One of them is Tata Steel.
'The UK is more of a structural problem, and that's why we're doing the restructuring.'
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
Tata Steel has a technical tie-up with Nippon Corporation for automotive steel production. Nippon is also helping plan the layout of its proposed steel plant at Kalinga Nagar.
The domestic stock market this week would monitor the geopolitical developments after India and Pakistan reached an understanding to stop military actions, analysts said. Moreover, macroeconomic data announcements, Q4 earnings, trading activity of foreign investors and global market trends are also likely to influence sentiments, traders said.
There were certainly qualities adhering to the Tata Group, which emanated from the persona of Ratan Tata. Most notable of these would be the low profile he maintained, which sharply contrasted the in-your-face celebrity status, celebration of wealth and pursuit of importance many of liberalised India's rich, love, notes Shyam G Menon.
The Anglo-Dutch merger was meant to revive the ailing British Steel which had incurred a net loss of 81 million in the year ended March 31, 1999
'The biggest impact will be on coal and hence on power cost. Then comes iron ore, coking coal, bauxite.'
Tata Steel had made an offer to buy out UK-based Corus at 455 pence per share taking the enterprise value of the company to $10 billion.
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.
In the first two months of the current fiscal, Indian exports of finished steel reportedly grew by almost 76 per cent on a YoY basis and China alone accounted for close to 60 per cent of the increase.
On the other hand, the group's two traditional cash cows, TCS and Tata Motors' subsidiary Jaguar Land Rover, are slowing as other businesses pick up pace
Tata Steel is to form a committee to undertake a social audit of its Kalinganagar project in Orissa, in a bid to counter allegations on the negative impact of industrialisation.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
'As Tata Steel we will obviously use group-level leverage to make progress where we want.'
India Inc on Wednesday welcomed Tata Steel's acquisition of Anglo-Dutch steel maker Corus while expressing concern that the deal might re-rate the entire steel industry, making steel companies over-valued.
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.
In the domestic market, the Tata Group has lost ground in the passenger car business.
Management and leadership changes, in addition to synchronising operations between all its airlines, are showing visible results for Air India. Data from the Directorate General of Civil Aviation (DGCA) show that there has been a marked improvement in key operational parameters of Air India after the Tata group took complete control of the national airline in January. One of the most dramatic improvements has been noticed in Air India's passenger load factor (PLF) - a crucial metric of capacity utilisation of an airline's fleet that shows how many seats it has been able to fill on every flight.
'It might not have a direct impact on the domestic steel industry but will improve India's position in the global market.'
In the domestic segment, demand is currently led by rural markets, oil and gas, LPG and B2C segments like roofing and sheeting.
Sandipan Chakravortty, managing director, said the facility would have a capacity of half a million tonne, with construction to be completed within nine months of land being handed over to the company.
The first to pass on the baton will be Tata Motors managing director Ravi Kant. He retires in June, according to the group's policy that all executive directors must retire at the age of 65 years. The other two are the MD of Tata Steel, B Muthuraman, and his long-time counterpart at TCS, S Ramadorai. They retire in September and October, respectively.
Goa plant has a capacity of 2 lakh tonne per annum.
The managing directors -- Rana Sinha of Tata Hitachi Construction Machinery Company, Dibyendu Bose of TM International Logistics Limited, Sandipan Chakravortty of Tata Steel Processing and Distribution Limited, Viresh Oberoi of mjunction, and Sanjiv Paul of Tata Metaliks -- met at Nabanna, the makeshift state secretariat. Finance and industry minister, Amit Mitra, was also present.
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 and Tata Chemicals under investor watch
Tata Steel's profitability per tonne is the best in the world, despite its small production base.
Tatas' best bet would be to find an insider who understands the systems, say headhunters
In March, Tata Steel announced its intention to sell the entire 10.5 million-tonne UK assets.
Half a dozen names are doing the rounds as replacement for Cyrus Mistry as the chairman of the Tata Group.
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