Steel Tata Steel

The negative outlook reflects risks of further weakening in Tata Steel's credit profile if the effect of economic conditions and lower commodity prices are more prolonged than current expectations

Seven mining and metals companies, including Tata Steel from India, have partnered with the World Economic Forum (WEF) to accelerate responsible sourcing of raw materials with the World Economic Forum (WEF). Geneva-based WEF, which describes itself as a public-private partnership for international cooperation, said the new 'Mining and Metals Blockchain Initiative' will explore the building of a blockchain platform to address transparency, the track and tracing of materials and the reporting of carbon emissions or increasing efficiency. Besides Tata Steel, other founding members of the initiative are Antofagasta Minerals, Eurasian Resources Group Sarl, Glencore, Klockner & Co, Minsur SA and Anglo American/De Beers (Tracr). The initiative will work towards experimenting, designing and deploying blockchain solutions that will accelerate responsible sourcing and sustainability practices. These companies will pool resources and cost, increase speed-to-market and improve industry-wide ..

In the past three months, the stock has underperformed the market by falling 30 per cent, as compared to a three per cent decline in the S&P BSE Sensex.

Tata Steel, SAIL, JSPL, JSW Steel, Jindal Saw and Jindal Stainless (Hisar) from the S&P BSE500 index were up 2% to 4% at 11:03 am.

Tata Steel, Jindal Stainless, Kalyani Steel, Jindal Saw and JSPL have rallied more than 50%