'The biggest impact will be on coal and hence on power cost. Then comes iron ore, coking coal, bauxite.'
Anglo-Dutch steelmaker Corus has accepted a $7.7 billion takeover bid from Tata Steel, the largest Indian takeover of a foreign company.
"Yes, we will continue to hold on to our stake," Tata Steel's Vice-Chairman B Muthuraman told reporters on the sidelines of an industry event in New Delhi.
Uzbekistan's young grandmaster Abdusattorov Nodirbek emerged sole leader in the open section of the Tata Steel Chess India Rapid tournament in Kolkata on Wednesday.
From the 30-share Sensex pack, Mahindra & Mahindra, Tata Steel, Adani Ports, JSW Steel, IndusInd Bank, Reliance Industries, HDFC Bank and Kotak Mahindra Bank were the biggest laggards. Tata Motors, NTPC, Hindustan Unilever, Asian Paints and Infosys were the gainers.
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.
The Tata Steel group - comprising Tata Steel and Corus Group, the European steel maker it acquired in January on Wednesday took decisive steps towards integration by setting up a new organisation structure that will become effective January 1, 2008.
Axis Bank, IndusInd Bank, HDFC Bank, State Bank of India, Kotak Mahindra Bank and UltraTech Cement were also among the big gainers. Adani Ports, ITC, Bharti Airtel and Asian Paints were among the laggards.
Revenue from China contributed no more than 3 to 4 per cent to the company's total revenue in the latest fiscal.
Gukesh was in control with his white pieces giving nothing away to Keymer, one of his seconds, in a Nimzo-Indian defense game.
While companies in India are busy using the platform provided by movies to promote their brands and products, home-grown steel major Tata Steel has sponsored a commercial film to talk about environmental issues. Hello Zindagi, a movie venture supported by Tata Steel and Dhamra Port Company Ltd, which released on March 5, highlights the sensitive issue of the conservation of Olive Ridley turtles in the story.
Investors lost Rs 24.69 lakh crore in market valuation in the last four days of severe drubbing in the equity market. Spike in global crude prices, unabated foreign fund outflows, a strong US jobs data diminishing early rate cut expectations, and the rupee logging its steepest single-day fall in nearly two years dampened investors' sentiment.
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.
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.
Rating agencies may downgrade the company.
Tata Steel, world's sixth largest steel maker on Wednesday said it has bagged the 'Golden Peacock' award for 2009 for its corporate social responsibility initiatives.
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.
While write-off will push up its debt equity ratio, decline in equity will push up return ratios.
A bleak demand outlook for steel in the domestic as well as global market is also another reason Tata Steel may be looking to have additional liquidity as margins are expected to take a hit in the coming quarters.
Stocks of Indian steel companies are reeling from pricing pressure that is partly blamed on cheap imports. The stocks have declined up to 9 per cent on the NSE in one month, likely allowing investors an opportunity to use the correction to enter the pack as pricing pressure eases. "In steel or any other commodity, if prices or spreads are nearing their bottom, it can be an opportune time to invest in those stocks. In India, domestic fundamentals such as steel consumption remain robust, hence one can take fresh positions in these counters," said Amit Dixit, an analyst at ICICI Securities.
JSW will pay at least Rs 4,000 crore Rs 40 billlion.
New products being designed mainly for auto, oil & gas sectors; firm is raising Kalinganagar plant capacity from three mtpa to eight mtpa
From the 30-share Sensex pack, Tata Consultancy Services, Infosys, NTPC, HCL Technologies, Axis Bank, Tech Mahindra, Bajaj Finserv, Sun Pharma, IndusInd Bank and Reliance Industries were the major laggards. Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Nestle and State Bank of India were among the gainers.
World No. 1 Magnus Carlsen secured a remarkable double victory at the Tata Steel Chess India tournament, winning both the rapid and blitz titles.
The Tamil Nadu government has agreed to help Tata Steel procure nearly 10,000 acres of land for its Rs 2,500-crore (Rs 25 billion) titanium dioxide project in Tuticorin district, 540 km south-west of state capital Chennai. This is the first time the state government has officially said it will get involved in the land acquisition process for Tata Steel's ambitious project, which has been on paper for nearly a year.
Adding to its list of Ford, Maruti, Hyundai, Toyota, Tata Steel now boasts of Nissan and Volkswagen as buyers of Tata Steel.
World No. 1 Magnus Carlsen recorded a flawless performance, securing victories against S L Narayanan
The Indian steelmaker, which bought the Mozambique project with Australia-listed Riversdale Mining, sees the mine as essential in ensuring it has a sustainable supply of coking coal.
Six months after acquiring Anglo-Dutch steel giant Corus, Tata Steel has put the foreign company's aluminium business on the block.
The company said it had extended financial support to the UK business.
In the first-ever auction of 'enemy property' that the Indian government has held since the 1971 Indo-Pak war, rights shares of Tata Steel were sold to an Indian investment firm for Rs 485 per share against the rights issue price of Rs 300 per share.
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.
Stocks of Indian steel companies are reeling from pricing pressure that is partly blamed on cheap imports. The stocks have declined up to 9 per cent on the NSE in one month, likely allowing investors an opportunity to use the correction to enter the pack as pricing pressure eases. "In steel or any other commodity, if prices or spreads are nearing their bottom, it can be an opportune time to invest in those stocks.
Tata Steel Ltd on Thursday announced a 50:50 joint venture with Australian steel producer BlueScope Steel for setting up metallic coated steel production facility.
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