Riding on rising steel prices and sales, the world's sixth-largest steel firm, Tata Steel reported 41 per cent jump in its net profit for the quarter ended March 2007 at Rs 1,104 crore (Rs 11.04 billion) on sales of Rs 4,980 crore (Rs 49.8 billion).
Tata Steel on Wednesday reported Rs 916.77 crore (Rs 9.16 billion) consolidated net profit for the July-September quarter of the current fiscal on higher income.
Tata Steel Vice-Chairman B Muthuraman has asked a member of British Parliament not to be "over-critical" about the company's strategy in dealing with problems in Corus.
For the first time, the Data Security Council of India assembled a joint task force to source threat intelligence at the origin and ensure coordinated action across the cybersecurity spectrum.
Viswanathan Anand had to be content with a joint third place finish following a draw with compatriot Vidit Gujrathi in the 13th and final round of the Tata Steel Masters, in Wijk Aan Zee, The Netherland.
Taking advantage of the current boom in the steel sector, India's largest private steel manufacturer Tata Steel on Wednesday announced a whopping investment of up to Rs 25,000 crore (Rs 250 billion) over the next five years to become a 15 million ton
'The biggest impact will be on coal and hence on power cost. Then comes iron ore, coking coal, bauxite.'
The Global Business Coalition on HIV/AIDS hailed its expansion from 17 to 114 companies and praised member firms like Standard Chartered Bank PLC, Tata Steel and Daimler-Chrysler.\n
R Praggnanandhaa split points with Czech hero David Navara while compatriot Aravindh Chithambaram escaped with a draw with another local star Nguyen Thai Dai Van in the first round of the Prague Masters.
World champion Viswanathan Anand played out an easy draw with Grandmaster Peter Leko of Hungary to remain second after the ninth round of the Tata Steel Chess tournament in Wijk Aan Zee, The Netherlands.
World champion Viswanathan Anand played out an easy draw with Grandmaster Peter Leko of Hungary in the ninth round of Tata Steel Chess tournament, in Wijk Aan Zee on Tuesday.
World Champion Viswanathan Anand scored an emphatic victory over world number two Levon Aronian of Armenia to jump to joint lead with two others after the fourth round of the Tata Steel chess tournament, at Wijk Aan Zee, The Netherlands, on Wednesday.
The youngest-ever world champion, Gukesh Dommaraju will take on Magnus Carlsen, the world's highest-rated player, in a highly-anticipated contest at next year's Norway Chess.
State Bank of India, Tech Mahindra, Larsen & Toubro, Tata Steel, Sun Pharma, Infosys, HCL Tech, Axis Bank, Tata Consultancy Services and NTPC were among the biggest laggards among Sensex shares. Nestle, Hindustan Unilever, Titan, Power Grid, UltraTech Cement and ITC were among the gainers.
The Indian operations continued their steady performance against a backdrop of lacklustre demand in the market place and increasing imports.
Dalal Street investors were a poorer lot on Monday as their wealth eroded sharply by Rs 14 lakh crore following a sharp decline in benchmark indices amid a global market meltdown due to recession fears. The 30-share BSE Sensex tumbled 2,226.79 points or 2.95 per cent to settle at 73,137.90. Intra-day, the benchmark slumped 3,939.68 points or 5.22 per cent to 71,425.01.
Profit in the three months ended September 30, excluding unit Corus, rose to Rs 1,787.81 crore (Rs 17.87 billion) from from Rs 1,190.83 crore (Rs 11.9 billion). Prices per tonne of steel may fall by as much as Rs 4,000 by December, said Koushik Chatterjee, chief financial officer. Demand from makers of trucks and buses have fallen, while supplies to cars and other light vehicle have remained flat.
Tata Steel's arm here said it had got $130 million as final settlement from the consortium of global steel buyers which had prematurely terminated, in May 2009, a 10-year purchase contract.
This amendment is proposed to be made retrospectively effective from FY16 onwards.
The company was also in the process of preparing the vision document for the year 2015.
While the maximum bonus will be Rs 130,463, the minimum will be Rs 26,610.
NatSteel Asia Pte Ltd (NSA), the Singapore-based subsidiary of Tata Steel, said on Thursday it has acquired two new steel-bar rolling plants in Vietnam for $41 million as part of strategy to expand in the Asia-Pacific.
The steel plant is planned to set up in the Alton North light industrial area of Richards Bay, situated about 150 km north of Durban.
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.
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. In India, domestic fundamentals such as steel consumption remain robust, hence one can take fresh positions in these counters," said Amit Dixit, an analyst at ICICI Securities.
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.
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.
Grandmaster R Praggnanandhaa scored his second victory on the trot, outwitting Vincent Keymer of Germany to join compatriot Aravindh Chithambaram at the top on three points after the end of the fourth round of the Prague Masters.
European Union steel prices hit their lowest since 2004
Stock markets closed lower for the second straight day on Friday amid relentless foreign fund outflows and losses in blue-chip stocks Reliance Industries, ICICI Bank and State Bank of India. Benchmark BSE Sensex declined by 55.47 points or 0.07 per cent to settle at 79,486.32. During the day, it tanked 424.42 points or 0.53 per cent to 79,117.37.
Five-time World champion Viswanathan Anand gave a fine endgame lesson to young Alireza Firouzja, jumping to joint sixth position at the end of 11th round of Tata Steel Masters, in Wijk Aan Zee, The Netherlands, on Saturday. With his second victory, Anand clawed his way back to a fifty percent score and will now hope to end the tournament on a high. At just 16 years, Firouzja is less than one third of Anand's age, and the Indian ace showed that the Iranian still has a lot to learn.
World champion Viswanathan Anand slipped to the second position after he was held to an easy draw by tail-ender Ivan Sokolov of Holland in the eighth round of 75th Tata Steel Chess tournament Wijk Aan Zee, The Netherlands.
World No 3 Shakhriyar Mamedyarov of Azerbaijan, current World Cup winner Levon Aronian and India number two Harikrishna shared the lead with two points apiece.
Net losses of Rs 6,528 crore is entire due to deliberate decision by company to reduce value of its European assets.
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.
