Hit by weak demand and prices in its main European market.
Steel firms brace for good times on the back of better demand.
Overriding stiff global competition, India's private sector steel giant Tata Iron and Steel Company has attained recognition as the "best steel company" in the world.
Among Sensex firms, Eternal, Tata Motors, State Bank of India, Adani Ports, NTPC, IndusInd Bank, Bajaj Finance, Asian Paints, Axis Bank and Sun Pharma were the major losers. Bharti Airtel, Tata Steel, Mahindra & Mahindra, Hindustan Unilever, Nestle and Maruti were among the gainers.
Indian grandmaster Viswanathan Anand played out a draw againt Peter Svidler of Russia in the eighth round of Tata Steel Masters underway, in Wijk Aan Zee, The Netherlands, on Sunday.
Tata Steel's global footprint is spreading at a furious pace.
The domestic stock market this week would monitor the geopolitical developments after India and Pakistan reached an understanding to stop military actions, analysts said. Moreover, macroeconomic data announcements, Q4 earnings, trading activity of foreign investors and global market trends are also likely to influence sentiments, traders said.
With global major Mittal Steel likely to foray into India with its proposal to set up a five million tonne steel plant in Jharkhand, Tata Steel has asked the government to check its track record before inviting the company.
Credited with turning around Tata Steel in the 1990s, J J Irani has stepped down on turning 75, from the company Board, bringing to an end his 43 years of association with the world's seventh largest steel making company.
'...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,'
Magnus Carlsen concluded the first nine rounds with an impressive 6.5 points out of a possible 9.
Tata Steel constitutes committee headed by Ishaat Hussain to ascertain the facts
A senior official of Tata Steel on Wednesday indicated that the steel major might provide a rehabilitation package for the 1,700 workers slated to lose their jobs due to the partial mothballing of its subsidiary, Corus' Teesside plant in Britain.
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.
Tata Steel and Tata Motors dropped over 10 per cent each. Larsen & Toubro, HCL Technologies, Adani Ports, Tech Mahindra, Infosys, Tata Consultancy Services, Reliance Industries and Mahindra & Mahindra were the other big laggards.
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.
JSW Steel, owned by Sajjan Jindal, has emerged as the world's most valuable steelmaker, boasting a market capitalisation (mcap) of nearly $30.31 billion, according to Bloomberg data.
As part of restructuring, Tata Steel UK informed its lenders on Tuesday that it would prepay debt of over 200 million pounds to continue its objective of making its European operations debt-free. Non-recourse debt is a secured loan that is availed of by pledging collateral but there is no personal liability on the part of the borrower.
The 21-year-old stayed on course towards capturing his maiden professional title when he shot a two-under 68 in the second round to to open up a three-stroke lead over second placed Zai Kipgen and Mukesh Kumar.\n\n
World champion Viswanathan Anand suffered a shocking last-round defeat against Wang Hao of China and had to be content with a joint third finish at the 75th Tata Steel Chess tournament in Wijk Aan Zee, The Netherlands.
Earlier this week, Tata Steel vice-president (safety and long products) Hridayeshwar Jha had said that there was scope for a 'correction in prices of the long steel products depending on market conditions and the monsoon season." Leading domestic steel producers, including SAIL, JSW Steel, have already announced a reduction in prices of the long steel products by up to Rs 2,000 per tonne effective August 1.
Anand played the Italian game with white pieces but could get little out of opening against Vituigov.
Rameshbabu Praggnanandhaa won the Superbet Chess Classic after defeating Maxime Vachier-Lagrave with white pieces in the final Blitz play-off game on Friday.
It was on move 21 that Giri thought he was out of trouble and proposed a draw.
The CAG report had alleged the government had passed on financial gains of Rs 1.86 lakh crore to private companies by not auctioning the coal blocks.
The day produced four decisive games and it was again the youngsters who provided most of the entertainment.
The profit of the company before exceptional item and tax stood at Rs 1,302 crore (Rs 13.02 billion), from Rs 1,398 crore (Rs 13.98 billion).
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.
"'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.
D Gukesh will take on Magnus Carlsen in the opening round in what should be one of the most keenly-contested matches at the Norway Chess tournament.
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.
The assurance was given by Vietnamese Prime Minister Nguyen Tan Dung when India's Finance Minister Pranab Mukherjee called on him in Hanoi.
The Obama administration is appreciative of the investment made by Indian-owned multinationals to create new jobs in the United States as is evident from the visit of Acting United States Secretary of Commerce Rebecca Blank to Thomas Steel Strip, a Warren, Ohio-based Tata Steel unit.
Three Indian companies Wipro, Tata Steel and Tata Power have been named among the World's Most Ethical Companies.
Managing director of Tata Steel B Muthuraman and vice chairman of Goldman Sachs group Suzanne Nora Johnson are among the 20 business labour and civil society leaders named by the UN to serve on Global Contact group.
