Vedanta group firm Hindustan Zinc Ltd on Monday said it has partnered with Tata Steel to expand the use of its low-carbon zinc solution, EcoZen, in steel manufacturing. The partnership highlights both firms' resolve to weave climate priorities into their core operations and sourcing strategies. "Hindustan Zinc... has strengthened its longstanding association with Tata Steel to expand the integration of EcoZen, its lowcarbon zinc solution into sustainable steel manufacturing," Hindustan Zinc said in a filing to the BSE. EcoZen is produced using renewable energy and has a verified carbon footprint of less than one tonne of CO equivalent per tonne of zinc -- about 75 per cent lower than the global industry average. By significantly reducing emissions at the raw material stage, EcoZen enables downstream industries to lower value-chain emissions and advance their decarbonisation goals. "Our partnership with Tata Steel is a significant milestone in scaling up the adoption of low-carbon
The Nifty Metal index, which tracks 15 companies from the metals and mining sector, plunged 4.71 per cent to hit an intraday low of 10,874 on the NSE
Scrap-based electric arc furnace in Ludhiana marks Tata Steel's first step towards low-emission steelmaking and supports its net-zero target for 2045
Strong domestic demand, protectionist policies in key markets and cost efficiencies position Tata Steel to benefit despite global headwinds and price volatility
Punjab Chief Minister Bhagwant Mann on Friday inaugurated Tata Steel's state-of-the-art scrap-based electric arc furnace built with an investment of nearly Rs 3,200 crore. Speaking on the occasion, Mann said the state government offers a congenial environment for the industry to flourish. The 0.75 million tonne per annum (mtpa) scrap-based facility is designed to achieve CO emissions less than 0.3 tonnes per tonne of steel, Tata Steel said. According to a company statement, Tata Steel Friday marked a historic milestone in the company's journey toward sustainable steelmaking with the introduction of its scrap-based Electric Arc Furnace (EAF) facility at Hi-Tech Valley, Ludhiana. "As India accelerates its transition towards a climate-resilient future, sustainability has become a national imperative - one that demands urgent, collective action. The EAF reflects Tata Group's long-term commitment to building a greener, more resilient industrial future," Tata Steel Chairman N Chandraseka
Excluding National Aluminium, 14 of 15 index constituents rose on Friday, with Lloyds Metals & Energy, Tata Steel, JSW Steel, Jindal Steel, and APL Apollo Tubes gaining over 3 per cent each
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In the ferrous space, analysts at ICICI Securities don't foresee any major impact due to ongoing geopolitical tensions as exports share of total steel production is pegged at <6 per cent.
The merger would also consolidate long products assets under a single entity, unlocking opportunities to create shareholder value, the company said
Nifty Metal index: At 10:45 AM on Friday; the metal index was the top sectoral indices loser down 4.3 per cent as against 1.3 per cent decline in the Nifty 50.
Among sector players, Nomura has maintained Buy recommendations on Tata Steel with a target price of ₹220 per share, JSW Steel at ₹1,340, Jindal Steel at ₹1,280, and Lloyds Metals & Energy at ₹1,600
According to analysts, the broader weakness in metal stocks reflects the risk-off sentiment across global markets amid rising geopolitical tensions
Metal shares declined on Wednesday, following weakness in global markets and a broad-based risk-off sentiment triggered by escalating geopolitical tensions in West Asia
Tata Motors to make new investment in hydrogen truck at Jharkhand's Jamshedpur facility, he added
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Tata Steel, JSW Steel and Jindal Steel hit their respective all-time highs on the NSE today
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MOFSL remains constructive on Tata Steel on the back of a strong domestic demand outlook, safeguard duty-led price support, ongoing capacity expansions and a gradual turnaround in the EU biz.
The policy support, safeguard measures, and the likelihood of regulatory adjustments are improving industry visibility, say analysts.
Individually, Hindalco and Nalco shares fell as aluminium prices peaked, which does not bode well for Indian aluminium companies, as it may impact their earnings, according to InCred Equities