Tata Steel plans to invest approximately Rs 20,000 crore in capital expenditure during the current financial year (FY27), a significant increase from the previous year, with 60 per cent of this allocation directed towards its India business for expansion, new technologies, and sustainability.
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.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
Some feel that Tata Steel has put these assets on the block only after exhausting all the options.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
Analysts sceptical whether company will sustain rise in operating profits.
Tata Steel's margins may remain under pressure in FY15.
Stock markets are in for an event-heavy week ahead with a raft of Q1 earnings from blue-chips, the US Fed interest rate decision and foreign investors trading activity driving investors' sentiment, analysts said. Macroeconomic data announcements, monthly auto sales numbers and global market trends would also guide movement in the domestic equities, they said.
Honda Siel Cars India is planning to source steel from India for its local operations and is in talks with Tata Steel. A Tata Steel spokesperson confirmed that the companies were in discussions. Currently, Honda sources steel plates from Thailand for its Greater Noida facility. Honda models, like the City and Civic, have 74 per cent localisation, while the newly launched hatchback, Jazz, has 77 per cent local content.
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
Gupta has expressed an intent to buy Port Talbot, Britain's biggest steelworks
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 29,008 and 8,767 respectively.
Tata Iron and Steel Company Ltd has completed the acquisition of Singapore-based steel company NatSteel Ltd by subscribing to 100 per cent equity of its subsidiary NatSteel Asia Pte Ltd (NatSteel Asia).
After months of negotiations, Tata Steel-owned Corus has tentatively agreed to sell the beleaguered Teesside Cast Products plant to Thailand's Sahaviriya Steel Industries for a price of 320 million (Rs 2,325 crore).
Naresh Kumar, who famously mentored a young Leander Paes as India's Davis Cup captain, has passed away.
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
An expectation of tax sops in Budget, weakness of dollar and robust tax collection are adding positive sentiment
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
Olympic medallist Indian shuttler Saina Nehwal entered the semi-finals of the Indonesia Masters' tournament after a straight-game win over Pornpawee Chochuwong of Thailand.
The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400.
The company has charted out a three step process in achieving the target
'The success of the country's economic policies is affirmed by receipt of FDI of $15 billion last year, the highest in the Asia-Pacific after China and India, and well ahead of Indonesia, Australia, Singapore, Malaysia and Thailand,' notes Ambassador Talmiz Ahmad.
Summary of sports events and persons who made news on Wednesday
Hers is a rags-to-riches story for the ages, peppered with risks, determination and strokes of luck.
Trade between India and Indonesia stands at $20 billion.
