The board of Tata Steel, which will enter an open bidding war with Brazil's CSN for Corus on Tuesday, met in Mumbai presumably to discuss the strategy for the auction and also consider the quarterly results.
'...it was an awkward situation for both of us. I was in a hurry that day and really forgot. I want to wish good luck to both of you,'
The steel-maker will now have to pay 50 basis points more on this tranche of $1 billion with a seven-year tenure.
From the Sensex pack, Bajaj Finserv, Bajaj Finance, Sun Pharma, Zomato, Tata Steel and Nestle were the biggest gainers. UltraTech Cement, Tata Motors, Mahindra & Mahindra, Kotak Mahindra Bank, Tech Mahindra and State Bank of India were among the major laggards.
From the Sensex pack, HDFC Bank, Maruti, Tech Mahindra, HCL Tech, ITC, ICICI Bank, Kotak Mahindra Bank and Bajaj Finance were among the biggest laggards. NTPC, Adani Ports, Mahindra & Mahindra, Tata Steel and IndusInd Bank were among the gainers.
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.
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.
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 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.
Tata Steel, the world's sixth-largest steel maker, has posted a 56.37 per cent drop in third quarter net profit to Rs 466.24 crore from its Indian operation as slowing economic growth and the credit crunch prompted makers of cars and appliances to slash orders. The company reported a drop for the first time in almost three years due to 13.81 per cent fall in the volume of steel sold.
Anand did not quite re-work his energy and lost to Carlsen in the first game of the third day and then made a draw with compatriot Vidit Gujrathi.
Ahmedabad-based Adani Group is said to be the frontrunner to buy out both Tata Steel and Larsen & Toubro's stake in Dhamra.
Magnus Carlsen concluded the first nine rounds with an impressive 6.5 points out of a possible 9.
Do you think this acquisition further fortifies the belief that India is a rising giant? Are you happy with the Tatas managing to beat Brazil's CSN to buy Corus? Do you think the Tata Group is set for big growth in the future? Tell us.
The chairmanship of Tata Motors and Tata Steel after Ratan N Tata steps down at the end of 2012 appears to be an open question. It will be up to the new Tata group chairman, Cyrus Mistry, whether he decides to succeed Tata in heading two of the largest group companies or opt for new chairpersons for them.
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.
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 firms, Adani Ports, Eternal, Bajaj Finance, Axis Bank, Bajaj Finserv, Reliance Industries, Power Grid and NTPC were the major gainers. Sun Pharma, however, tanked over 5 per cent.
Tata Steel would make a bid for buying the Indian iron ore assets of one of Britain's largest independent steel trading companies Stemcor.
Needs funds for Odisha plant expansion, to cut high debt.
Domestic steel prices have seen an increase over the past couple of months in anticipation of a safeguard duty, but a looming global trade war is likely to weigh as threat of import rises and prospect of export flounders. Data from BigMint showed that in March 2025, hot rolled coil (HRC) prices ex-Mumbai increased by Rs 600 per tonne month-on-month (M-o-M), rising from Rs 48,400 per tonne in February to Rs 49,000 per tonne.
From the 30 blue-chip pack, Tata Motors, Titan, Tata Steel, State Bank of India, Mahindra & Mahindra, NTPC, ICICI Bank, Maruti, HDFC Bank and Infosys were among the biggest laggards. Zomato, Tech Mahindra, HCL Tech and IndusInd Bank were among the gainers.
Tata Steel Limited missed forecasts with a 47 percent fall.
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).
An interview with Tata Steel Managing Director B Muthuraman
Reigning world champion D Gukesh continued to turn adversity into opportunity as he wriggled out of a virtually intractable position to beat compatriot Arjun Erigaisi for the first time ever in a classical game and jump to sole second position after round 7 of the Norway Chess.
Alireza Firouzja remained in joint lead with Caruana on 5.5 points and these two are now ahead of Wesley So of United States and Jorden Van Foreest of Holland.
The move follows Rio Tinto Jersey Holdings 2010 Ltd's decision to delist Riversdale Mining Ltd, after the company's shareholding in the mining company increased to 73.20 per cent.
Tata Steel has warned its suppliers that if they do not slash prices by up to 30 per cent in the long term then they risk losing the steel giant's business.
Jamshedpur plant is expanding its capacity at a cost of Rs. 20,000 crore.
The Coal Ministry has issued show-cause to eight firms including Hindalco Industries and Mahanadi Coalfields, and sought explanation from five firms for delays in commencing production from mines allocated to them.
In a groundbreaking moment for Indian chess, Arjun Erigaisi has become the second player from India and the sixteenth player globally to surpass the 2800 live rating mark.
Management buyout vehicle Excalibur Steel, Sanjeev Gupta's Liberty House metals group, India's JSW Steel Ltd and Greybull Capital have submitted separate bids
Adverse economic conditions in Europe, demand-supply imbalance led to impairment.
"'His mantra was simple yet profound: Be number one or be ready to be wiped out. There's nothing in between," he used to say and it was a reminder for all to always aim high, to push boundaries, and to strive for excellence.
In the process, the Mhow-based golfer picked his seventh title of the season and tenth in 2002.
