'When you look at reviving private sector capex, I don't think there's a better story than steel.'
'The UK is more of a structural problem, and that's why we're doing the restructuring.'
India is in a much better position to deal with the challenges related to growth and inflation, said Sanjiv Bajaj, president of industry body CII. According to official figures, India's retail inflation continues to remain above the Reserve Bank's tolerance level of 6 per cent since January, while the economic growth in the first quarter of the fiscal was 13.5 per cent, lower than the central bank's estimate of 16.2 per cent. "I don't want to say we don't have our own challenges with growth, with inflation but we are in a much better position and credit must go to everybody including the central and state governments.
Jamshed J Irani, known as the steel man of India, died in Jamshedpur late Monday night, Tata Steel said. He was 86. "The Steel Man of India passes away. It is with profound grief that Tata Steel informs of the demise of Padma Bhushan Dr Jamshed J Irani," Tata Steel said in a statement. He passed away on October 31, 2022 at 10 PM at TMH (Tata Hospital) in Jamshedpur, it said.
The management should have acted as soon as they were made aware of the senior employee's depression and abrupt exit for the company.
The industry is facing scarcity of raw material and steel import is on a rise.
New MD likely to be announced by December-end or first week of January.
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.
Jamshedpur plant is expanding its capacity at a cost of Rs. 20,000 crore.
Liquidity crisis and demand slowdown has forced Tata Steel, the country's largest steel maker, to put brakes on its greenfield projects in Jharkhand and Chhattisgarh.
Quoting Tata Steel managing director B Muthuraman, the daily said the target could be reached partly by improving manufacturing procedures at the Corus plants spread across Europe. The Indian conglomerate Tatas had acquired the Anglo-Dutch steel maker Corus for about $13 billion last year.
The Tata Steel group - comprising Tata Steel and Corus Group, the European steel maker it acquired in January on Wednesday took decisive steps towards integration by setting up a new organisation structure that will become effective January 1, 2008.
"The project is definitely on," Tata Steel managing director B Muthuraman told reporters on Tuesday. Asked if the previous government did not acquire the land because of the unruly elements, he said "definitely".
Tata Steel on Thursday revived its mega Rs 2,500 crore (Rs 25 billion) project to produce titanium dioxide from ilmenite mined from beach sands of Tirunelveli and Tuticorin districts in south Tamil Nadu.
"In less than three years, India will import 10 million tonnes of steel worth Rs 20,000 crore (Rs 200 billion)," said Muthuraman, addressing the 2nd Asian Mining Congress. In 2006-07, the country imported 3.9 million tonnes of the alloy.
Tata Steel plans to invest nearly Rs. 600 crores on limestone deposits in Oman.
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).
The academy will be inaugurated by 'Flying Sikh' Milkha Singh on May 29.
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.
Tata Steel's profitability per tonne is the best in the world, despite its small production base.
The acquisition of Anglo-Dutch steel company Corus by Tata Steel is expected to be completed by middle of January 2007.
Tata Steel had made an offer to buy out UK-based Corus at 455 pence per share taking the enterprise value of the company to $10 billion.
Former Chairman and Managing Director of Tata Steel, Russi Mody, 96, passed away in Kolkata on Friday.
On Mody's death, Tata on Friday said, "Russi Mody was an institution at Tata Steel. Under his leadership, the company grew significantly and he instituted many human resource initiatives.
Tata Steel would make a bid for buying the Indian iron ore assets of one of Britain's largest independent steel trading companies Stemcor.
In the first two months of the current fiscal, Indian exports of finished steel reportedly grew by almost 76 per cent on a YoY basis and China alone accounted for close to 60 per cent of the increase.
In the domestic segment, demand is currently led by rural markets, oil and gas, LPG and B2C segments like roofing and sheeting.
'It will take six months to one year to move to normalcy, depending on how the pandemic plays out in India.'
Steel, cement, aluminum, fertilisers, tractors, two-wheelers, beverages and carbonated drinks, tyres and FMCG could see demand back to near normal levels by the third or the fourth quarter of the financial year, or even earlier.
'He was sought after because he delivered.' Ishita Ayan Dutt profiles Tata Steel's new boss.
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