Among Sensex firms, Bharti Airtel, HCL Tech, UltraTech Cement, Power Grid, HDFC Bank, Bajaj Finance, Tata Steel and ICICI Bank were among the major gainers. However, Axis Bank, Tata Motors, Trent and Infosys were among the laggards.
Around half a dozen Tata Steel employees and contract workers were injured following an explosion in the LD gasholder inside its factory in Jamshedpur.
After two years of waiting, Tata Steel will get alternative land in Vietnam for building a 4.5 million tonne a year steel plant with an investment of $5 billion. Decision to allocate 725 hectares comes after a long delay.
This will be over and above a Rs 3,655-crore domestic rights issue and a Rs 4,350 crore convertible preference share issue the company announced last month.
The board of directors of Tata Steel, which met on Friday, appointed Jim Leng, chairman, Corus, as a non-executive independent director designated as deputy chairman.
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.
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.
This is the second major investment in Scotland by the global giant, following announcement of 8 million pounds investment at Dalzell plate rolling mill in August, 2010.
Tata Steel's margins may remain under pressure in FY15.
Tata Steel, the world's sixth largest steel-maker, will raise Rs 3,000 crore through non-convertible debentures to prepay the debt of its UK subsidiary, Tata Steel UK. The issue is Rs 1,000 crore higher than originally planned.
Inflation data, quarterly earnings and global trends will be the major driving factors for stock markets this week, analysts said. Moreover, the trading activity of foreign investors would also influence the equity market trends.
Ahmedabad-based Adani Group is said to be the frontrunner to buy out both Tata Steel and Larsen & Toubro's stake in Dhamra.
Indian Grandmaster Vidit Gujrathi held World No. 1 Magnus Carlsen to a draw in the 11th round of the Tata Steel Masters chess tournament
The Central Pollution Control Board has asked Tata Steel to submit the closure schedule of the battery at the earliest, minister of state for Steel A Sai Prathap said in a written reply to a question in the Lok Sabha. Coke oven battery is a plant where coking coal is converted into coke.
He is acknowledged as the person behind transforming Tata Steel into the world's 11th largest steel-maker.
UK's largest union Unite warned Tata against ducking its promises and conducting a 'fire sale' of its specialty steel business
Tata Sons' dividend from Tata group companies for last financial year is expected to show a decline of 3.5 per cent to Rs 36,514 crore from Rs 37,832 crore a year earlier. This should be the first year-on-year decline in Tata Sons' dividend in the last nine years. The holding company had last reported a decline in FY16, when its proceeds had gone down 42.5 per cent to Rs 6,898 crore from Rs 11,993 crore a year earlier.
Fabiano Caruana of United States made sure of his maiden title after beating Jan-Krzysztof Duda of Poland.
From the Sensex firms, Adani Ports, NTPC, Power Grid, HCL Tech, Tata Steel, Sun Pharma, Trent and Asian Paints were among the major gainers. However, Bharat Electronics, Eternal, Mahindra & Mahindra and Maruti were among the laggards.
Tata Steel said it has raised Rs 2,000 crore (Rs 20 billion) through private placement of rupee debentures as part of its long term financing plan. The issue, which closed on May 6, opened with an initial size of Rs 750 crore (Rs 7.5 billion) and the deemed date of allotment for the debentures was May 7. The debentures were assigned a rating of AAA (ind) by Fitch Ratings India Private Limited for the aggregate amount of Rs 2,000 crore (Rs 20 billion).
Bajaj Finance, Bharat Electronics, Tata Steel, Tata Consultancy Services, NTPC, Trent, Asian Paints and Axis Bank were the major laggards among Sensex stocks. However, Tech Mahindra, ICICI Bank, Power Grid, Hindustan Unilever and Reliance Industries were among the gainers.
Besides a minority stake, the UK and Welsh governments are considering additional grant funding
Among Sensex firms, Bajaj Finserv, Bajaj Finance, Tata Steel, Reliance Industries, Sun Pharma, Tata Motors Passenger Vehicles, Axis Bank and Infosys were among the major gainers. Bharti Airtel and Asian Paints emerged as the laggards from the pack.
An interview with Tata Steel Managing Director B Muthuraman
Management buyout vehicle Excalibur Steel, Sanjeev Gupta's Liberty House metals group, India's JSW Steel Ltd and Greybull Capital have submitted separate bids
Among Sensex firms, Asian Paints jumped the most by 4.18 per cent. Mahindra & Mahindra, Bharti Airtel, ITC, Hindustan Unilever, ICICI Bank and Reliance Industries were also among the gainers. However, Infosys, HCL Tech, Eternal, Tech Mahindra and Tata Steel were among the laggards.
In the process, the Mhow-based golfer picked his seventh title of the season and tenth in 2002.
Tata Steel on Friday said it will cut 900 jobs in the UK as part of major restructuring of European operations to make the company an "all-weather" steel producer, capable of succeeding in difficult economic conditions.
Among the Sensex firms, State Bank of India, Maruti Suzuki India, Axis Bank, NTPC, BEL, Adani Ports, Eternal, Sun Pharmaceuticals, Power Grid, ITC, UltraTech Cement, Trent, HCL Technologies, Mahindra & Mahindra, and HDFC Bank were the major gainers. On the other hand, Tata Steel, Tata Consultancy Services, Tech Mahindra, Titan, Bajaj Finserv, Tata Motors, Bharti Airtel and Bajaj Finance were among the laggards.
Back with a bang, World champion Viswanathan Anand will be up against World No. 1 Magnus Carlsen of Norway in a much-awaited fifth-round clash of the Tata Steel Chess tournament in Wijk Aan Zee, The Netherlands.
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.
There are seven potential buyers, ranging from the Port Talbot steelworks' management to the UK steel industry investors Liberty House
Tata Steel Limited missed forecasts with a 47 percent fall.
Tata Steel would make a bid for buying the Indian iron ore assets of one of Britain's largest independent steel trading companies Stemcor.
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