Net losses of Rs 6,528 crore is entire due to deliberate decision by company to reduce value of its European assets.
In FY23, Indian operations accounted for 41.6 per cent of the consolidated revenue of India's top five multinationals, up from 34 per cent in FY18 and 33.2 per cent and 34.2 per cent in FY21.
Steel companies are witnessing margin pressures in Q2FY25 and this may persist until China sees growth recovery.
Will it be Noel Tata, Ratan Tata's half brother?
From Sensex firms, Tech Mahindra, Mahindra & Mahindra, Tata Motors, UltraTech Cement, Tata Consultancy Services, HCL Technologies, ICICI Bank and Tata Steel were the biggest gainers. Sun Pharma emerged as the only laggard.
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
From the Sensex pack, Tata Motors, NTPC, Bajaj Finserv, Power Grid Corp, Titan, Asian Paints, IndusInd Bank, Maruti Suzuki India and Tata Steel were among the biggest gainers. Sun Pharmaceuticals, ITC, Hindustan Unilever, Bharti Airtel, UltraTech Cement and Reliance Industries were among the laggards.
Rahul Ganapathy and Ashok Kumar's teams finished second and third respectively.\n\n
The company, in a notice to shareholders, said it would come out with a rights issue of ordinary shares and cumulative convertible preference shares, besides issue of securities in the domestic or international markets.
India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
The British government has been under pressure to help a sale process go through after Tata said it would sell its British business.
Tata Steel said on Tuesday its Board will meet on April 17 to discuss plans for funding the $12 billion acquisition of Anglo-Dutch firm Corus Group Plc.
Britain's traditionally anti-EU media have blamed Brussels for preventing London from taking greater steps to protect the industry.
Among the Sensex pack, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel and Nestle were the biggest gainers. Tata Consultancy Services, Sun Pharma, Infosys and Tata Motors were among the laggards.
'The global median of whistle-blower complaints is 1.5 per cent of the total employees. India's reporting is far away from this average.'
Investors' wealth eroded by Rs 9.51 lakh crore on Monday morning, following a crash in equity markets where the benchmark Sensex tanked over 2,400 points, mirroring a sharp plunge in global peers. The 30-share BSE benchmark tanked 2,401.49 points to 78,580.46 in early trade. Following the sharp decline in equities, the market capitalisation of BSE-listed firms dropped by Rs 9,51,771.37 crore to Rs 4,47,65,174.76 crore ($5.35 trillion) during the morning trade.
Magnus Carlsen, the undisputed world number one for over a decade, believes chess ratings today are somewhat "deflated" compared to the past but remains unfazed by the possibility of someone surpassing him.
Indian IM Divya Deshmukh alleges sexism by spectators at Tata Steel Masters in Wijk Aan Zee
Reigning world champion Magnus Carlsen of Norway steered clear of the field with another dominating victory over Jan Krzysztof Duda Poland.
Anish's emergence comes as India witnesses an exciting era in chess, with young talents like Erigaisi, R Praggnanandhaa, and D Gukesh shine internationally.
The US Fed interest rate decision, ongoing quarterly earnings, macroeconomic data and FII trading activity are the major triggers that will drive stock markets this week, analysts said. Investors would also track global market trends and the movement in global oil prices for further cues. "This week, the focus will shift to global cues, particularly the US markets," Santosh Meena, Head of Research, Swastika Investmart Ltd said.
Summary of sports events and persons who made news on Thursday
Placed fourth after the first leg on Tuesday, the 48-year-old had a dream run on the final day to secure six wins and three draws in the nine rounds to draw level with the world No 3 American Nakamura to force a play-off.
Among the 30 Sensex firms, Asian Paints, Infosys, JSW Steel, UltraTech Cement, Power Grid, Larsen & Toubro, HCL Technologies and Tata Steel were the biggest laggards. Tata Motors, HDFC Bank, Bharti Airtel, ITC, IndusInd Bank and Axis Bank were the gainers.
IT services company's CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins.
Defending champion Ding Liren says the in-form Dommaraju Gukesh is the big favourite to win their World Chess title showdown in November.
Noel Tata -- the half-brother of late Rata Tata -- who takes over as chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts -- that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
The market capitalisation of BSE-listed companies hit a record high of Rs 429.32 lakh crore on Wednesday as the BSE benchmark Sensex ended higher amid a largely positive trend in global equities. The 30-share BSE Sensex climbed 149.98 points or 0.20 per cent to settle at 76,606.57. During the day, it jumped 593.94 points or 0.77 per cent to 77,050.53.
Home grown steel major, Tata Steel on Wednesday reported over six-fold per cent leap in its profit after tax at Rs 6,388 crore
'As Tata Steel we will obviously use group-level leverage to make progress where we want.'
Flat steel products are used by consumer durable industries and the automobile sector, while the long steel products are consumed primarily by the construction industry.
The government on Friday issued fresh show cause notices to prior allottees of coal blocks like JSPL, JSW and Tata Steel, asking reasons behind delays in mines development and warned of deduction in their bank guarantees if they failed to furnish replies.
A day after facing massive erosion from their wealth, equity investors became richer by Rs 13.22 lakh crore on Wednesday with markets making a strong comeback. The 30-share BSE Sensex jumped 2,303.19 points, or 3.20 per cent, to settle at 74,382.24. During the day, it rallied 2,455.77 points, or 3.40 per cent, to 74,534.82.
With his third victory in the event, Anand came back within striking distance of the leaders. His tally of six points out of ten is only one point less than Holland's Anish Giri, Norway's Magnus Carlsen and Azerbaijan's Shakhriyar Mamedyarov, all who have seven points apiece.
On what turned out to be an easy day, Anand had to stretch himself only a little as Karjakin did not attempt any complicated warfare. The result was exchanging of pieces at regular intervals and the players signed peace in an opposite coloured Bishops endgame.
India's steel market is out of step with global trends. Global demand is weak with China at a huge supply surplus to its domestic demand, pushing down global steel prices. India's domestic demand for steel is strong, given the continuing infrastructure push and is likely to accelerate as urbanisation improves, and the auto sector continues to grow alongside the infrastructure push.
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