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.
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.
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.
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.
Tata Steel's margins may remain under pressure in FY15.
Among Sensex stocks, Tata Motors Passenger Vehicles, Trent, Infosys, Power Grid, HDFC Bank, HCL Tech, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance were the major laggards. However, Bharat Electronics, State Bank of India, Tata Steel, Eternal, Bharti Airtel and Reliance Industries were the gainers.
Among the Sensex constituents, Eternal, Tata Steel, Kotak Mahindra Bank, UltraTech Cement, Maruti Suzuki India, Sun Pharmaceuticals, Tech Mahindra, HDFC Bank, Tata Motors Passenger Vehicles, Infosys, Trent, Mahindra & Mahindra, Reliance Industries and HCL Technologies were the gainers. However, Asian Paints, Bharti Airtel, Bajaj Finance, PowerGrid, Axis Bank, ICICI Bank and Titan were among the laggards.
From the Sensex pack, Eternal, Maruti Suzuki India, Kotak Mahindra Bank, Mahindra & Mahindra, Tech Mahindra, Titan, HDFC Bank, PowerGrid, Bajaj Finserv, HCL Technologies, Bajaj Finance and Larsen & Toubro were among the gainers. On the other hand, Tata Motors Passenger Vehicles, Asian Paints, UltraTech Cement, Bharat Electronics Ltd, Tata Steel, Adani Ports, Hindustan Unilever, ITC, Tata Consultancy Services and Reliance Industries were the only laggards.
Indian Super League: Jamshedpur FC beat Mohammedan SC 1-0 at home, Bengaluru FC beat Sporting Club Delhi.
Ahmedabad-based Adani Group is said to be the frontrunner to buy out both Tata Steel and Larsen & Toubro's stake in Dhamra.
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.
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.
From the Sensex pack, Eternal, Bharat Electronics Ltd, Trent, Axis Bank, State Bank of India, Bajaj Finance, Sun Pharmaceuticals, Asian Paints, Adani Ports, Hindustan Unilever, Reliance Industries, ITC, PowerGrid, Tata Motors Ltd's Commercial Vehicles business, and Bajaj Finserv were the gainers. Infosys, Tata Motors Passenger Vehicles, Tata Steel, ICICI Bank, Tech Mahindra, Titan, UltraTech Cement, Maruti Suzuki India, and Larsen & Toubro were the laggards.
Among the Sensex constituents, Asian Paints, Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki India, Sun Pharmaceuticals, Tata Consultancy Services, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra and Tata Motors Passenger Vehicles were the laggards. However, Eternal, Titan, Adani Ports, Bharat Electronics Ltd, State Bank of India, Bajaj Finserv, NTPC and Bharti Airtel were among the gainers.
Among Sensex firms, Tata Steel, HCL Tech, Bajaj Finance, Bajaj Finserv, Bharat Electronics and Eternal were the major laggards. However, Maruti, Mahindra & Mahindra, Tata Motors Passenger Vehicles and ITC were among the gainers.
He is acknowledged as the person behind transforming Tata Steel into the world's 11th largest steel-maker.
Indian Grandmaster Vidit Gujrathi held World No. 1 Magnus Carlsen to a draw in the 11th round of the Tata Steel Masters chess tournament
UK's largest union Unite warned Tata against ducking its promises and conducting a 'fire sale' of its specialty steel business
Fabiano Caruana of United States made sure of his maiden title after beating Jan-Krzysztof Duda of Poland.
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).
Besides a minority stake, the UK and Welsh governments are considering additional grant funding
Clarity on Tata Sons' position on listing, as of 2025, would help define the future of the group better, irrespective of the RBI stand. As of now, the ball is in the RBI's court, and everyone is watching the space, points out Nivedita Mookerji.
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
In the process, the Mhow-based golfer picked his seventh title of the season and tenth in 2002.
Tech Mahindra, Trent, Reliance Industries, HCL Tech, Hindustan Unilever, and ITC were also among the laggards. However, Bajaj Finance, Tata Steel, Mahindra & Mahindra, and Bajaj Finserv were among the gainers.
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.
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
From the Sensex pack, Asian Paints, ICICI Bank, PowerGrid, Larsen & Toubro, Bajaj Finserv, Bharti Airtel, Sun Pharmaceuticals, Maruti Suzuki India, Axis Bank, UltraTech Cement and HCL Technologies were the only gainers. On the other hand, Eternal, Tata Motors' commercial vehicles arm, Mahindra & Mahindra, Tata Steel, Bharat Electronics Ltd, Tata Motors Passenger Vehicles, Trent, Tata Consultancy Services, Hindustan Unilever, and Infosys were among the laggards.
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.
From the Sensex pack, Asian Paints, Tech Mahindra, Tata Consultancy Services, Bajaj Finserv, Adani Ports, HCL Technologies, Bharti Airtel, Infosys, Trent, Reliance Industries, UltraTech Cement, Sun Pharmaceuticals, Eternal, Titan and Bajaj Finance were the gainers. On the other hand, Tata Steel, Tata Motors Passenger Vehicles, Tata Motors Commercial Vehicles, Bharat Electronics, Kotak Mahindra Bank and PowerGrid were the laggards.
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