Tata Steel Limited missed forecasts with a 47 percent fall.
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.
From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards. In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
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
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.
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.
Management buyout vehicle Excalibur Steel, Sanjeev Gupta's Liberty House metals group, India's JSW Steel Ltd and Greybull Capital have submitted separate bids
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.
Adverse economic conditions in Europe, demand-supply imbalance led to impairment.
Anand needs to finish in a minimum sixth place in Kolkata, in order to qualify for the grand finale
In the process, the Mhow-based golfer picked his seventh title of the season and tenth in 2002.
He is acknowledged as the person behind transforming Tata Steel into the world's 11th largest steel-maker.
Tata Steel on Wednesday said its European subsidiary Corus will be able to meet full capacity utilisation by the end of the current fiscal, riding on revival in global demand.
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.
There are seven potential buyers, ranging from the Port Talbot steelworks' management to the UK steel industry investors Liberty House
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.
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.
Anand moved to joint sixth spot with 2.5 points on a day that saw Firouzja Alireza scoring a sensational victory over super-solid Anish Giri of Holland.
Tata Steel's June quarter profit has slowed down on higher input cost.
World No. 1 Magnus Carlsen secured a remarkable double victory at the Tata Steel Chess India tournament, winning both the rapid and blitz titles.
Gukesh was in control with his white pieces giving nothing away to Keymer, one of his seconds, in a Nimzo-Indian defense game.
World champion Viswanathan Anand played out a quick draw with Hikaru Nakamura of United States while debutant P Harikrishna beat local player Anish Giri in the first round of the 'A' group of Tata Steel Chess tournament that got underway in Wijk Aan Zee, The Netherlands on Sunday.
Tata Steel's greenfield projects in Jharkhand, Orissa and Chhattisgarh have been delayed by about 12 to 16 months due to issues over land acquisition and resettlement, the company's executives said.
Tata Steel has appointed Uday Kumar Chaturvedi as MD of Corus Strip Products UK. It has also made two other changes in the top management of Corus.
World No. 1 Magnus Carlsen recorded a flawless performance, securing victories against S L Narayanan
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.
The proposed changes in Long Products business will predominately affect management and administrative functions at sites in Scunthorpe, Teesside and Workington.
Tata Steel has ventured into pilot projects that promote use of steel in furniture and house doors.
Gujrathi had won the Azerbaijan event last year after outperforming compatriot Arjun Erigaisi.
Tata Steel plans to expand capacity to 10 million tonnes at Jamshedpur by August 2011 from 6.8 million tonnes.
Consultants said the fact that Oberoi had no debt on its books and Kalpataru had low debt helped the two in the slow realty market.
During the quarter, exceptional items stood at Rs 1,899.64 crore, which includes an actuarial gain of Rs 1,850.25 crore on funds for employee benefits. Total income zoomed 425 per cent to Rs 32,535.15 crore from Rs 6,192.95 crore. Total expenditure, however, jumped 551 per cent to Rs 28,803.59 crore as well.
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.
Tata group has been a constant in India's sporting landscape and the conglomerate's involvement only grew under Ratan Tata.
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