Tata Steel's margins may remain under pressure in FY15.
From the 30-share blue-chip pack, Adani Ports dropped over 4 per cent. UltraTech Cement, Sun Pharma, IndusInd Bank, NTPC and Tata Steel were also the among the laggards. Nestle, ICICI Bank, Infosys, Tata Consultancy Services and HCL Tech were among the gainers.
Tata Steel plans to invest nearly Rs. 600 crores on limestone deposits in Oman.
Tata Steel's $5 billion steel project in Vietnam has hit a roadblock, thanks to a delay in land allocation.
The world's sixth largest steelmaking group, which has been stepping up its raw material security at a frenetic pace, has 300 million tonnes of iron ore reserves in India.
After steering the company for 21 years, Tata will pass on the leadership baton to his successor designate and present deputy chairman of Tata Sons, Cyrus Mistry in December, when Tata turns 75.
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, is looking to acquire Brazilian iron ore assets of the United Kingdom-based London Mining, which will help ensure raw material supply for its Anglo-Dutch subsidiary, Corus. The valuation of the asset is yet to be completed, but analysts said that it would be in the range of $2 billion.
Besides a minority stake, the UK and Welsh governments are considering additional grant funding
UK's largest union Unite warned Tata against ducking its promises and conducting a 'fire sale' of its specialty steel business
Thanks to its acquisition of the Corus group, Tata Steel has made it to the Fortune 500 list even as India's largest corporate Reliance Industries climbed 63 places up to 206th rank. Companies qualify to the list on the basis of their revenues.
In an eventful week ahead, stock market investors will take cues from major events like the US Federal Reserve's interest rate decision, the upcoming Union Budget and Q3 earnings, analysts said.
Tata Steel, the world's sixth largest steelmaker, has entered into a joint venture agreement with Sodemi for the development of Mount Nimba iron ore deposits in Ivory Coast (West Africa). This is Tata Steel's first joint venture for iron ore. The Mt Nimba deposit, spread over 3 countries Liberia, Guinea and Ivory Coast, is one of the biggest in West Africa.
Tata Steel has lost the bidding battle for Vietnam's Vinausteel and SSE Steel after losing a vote on the resolution for its sale and purchase agreement by Vietnam Industrial Investments, the parent company of the two steel makers.
India's biggest steelmaker Tata Steel is set to merge its British unit Corus with itself by next year to save costs up to 350 million pounds, and the move is likely to put thousands of jobs at risk, a media report has said.
Newly-crowned world chess champion D Gukesh is looking forward to the day when the sport will become a part of the Olympic curriculum, which, he said, would take it to an altogether different level not just in India but across the world.
The acquisition is scheduled to take effect from April 2
Tata Steel was prepared to make a hostile bid of £4.2 billion (nearly $7.79 billion) if its favoured option of a friendly merger was rejected, the UK newspaper reported.
Shares of Corus Group Plc, surged by 1.12 per cent in trading on Friday on reports that Tata Steel may revise its takeover offer, but stocks of the Indian company fell 1.67 per cent on the bourses.
Indian Grandmaster R Praggnanandhaa, ranked No. 8 in the world, will face American Sam Shankland in the sixth round of the Prague Masters.
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.
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.
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.
The steel-maker will now have to pay 50 basis points more on this tranche of $1 billion with a seven-year tenure.
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.
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.
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.
'The biggest impact will be on coal and hence on power cost. Then comes iron ore, coking coal, bauxite.'
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.
Ahmedabad-based Adani Group is said to be the frontrunner to buy out both Tata Steel and Larsen & Toubro's stake in Dhamra.
Investors became richer by nearly Rs 8 lakh crore on Wednesday as benchmark BSE Sensex surged by 740 points amid value buying in utilities and power shares and a strong trend in global markets. The 30-share BSE Sensex surged by 740.30 points or 1.01 per cent to close at 73,730.23.
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.
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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