Page 15 - Tata Steel

Govt not planning higher taxes on steel imports despite industry's demand

Steel mills want authorities to raise taxes from the prevailing 7.5% on several steel products to curb imports

Steel industry hopes Budget will focus on infra, fair trade measures

Companies want support for capacity addition and anti-dumping measures against substandard imports

Tata Steel fixes Jan 19 as record date to allot shares to TCIL shareholders

Tata Steel has fixed January 19 as the record date to determine the shareholders of TCIL, for allocating the company's shares as per the scheme of amalgamation. Tata Steel is in the process of merging several of its subsidiary companies, including Tinplate Company of India Limited (TCIL), into itself. "The Board has approved Friday, January 19, 2024, as the record date for the purpose of determining the shareholders of TCIL who shall be entitled to receive fully paid-up ordinary equity shares of the company in the share exchange ratio as per the scheme of amalgamation," Tata Steel said in a BSE filing on Monday. The company will issue and allot fully paid-up equity shares to those shareholders of TCIL, whose names would appear in the register of members on the record date, in ratio of 33 fully paid-up equity shares of Re 1 each for every 10 fully paid-up shares of Rs 10 each held by such members in TCIL, it said. Tata Steel is among the top three steel-producing companies in India

Stocks to Watch: Nykaa, Titan, Adani Wilmar, Marico, Tata Steel, Bajaj Auto

Stocks to Watch on January 8, 2024: Titan's revenue rose 22 per cent YoY in the December quarter (Q3FY24

Tata Steel stock: Is it a buy, hold or a sell?

Near-term upside may be limited as the stock is trading above consensus target price of analysts

Domestic steel sector still in recovery mode post-Covid: Tata Steel CEO

The steel sector in the country is still in recovery mode after the Covid pandemic, Tata Steel CEO and MD T V Narendran said on Monday. He said demand for steel will continue to grow, backed by the government's focus on infrastructure development. This (2023) has been good year for the steel sector in India, even though it was a challenging period globally, Narendran said here. The recovery of the steel industry is still continuing post the global pandemic. In fact, we recovered well due to good handling of micro-economy by the RBI, and the investment that has been made for infrastructure development, he said at a New Year programme here. The demand for steel grew 10-12 per cent in 2023 and this trend should continue, he said, while expressing apprehension about increasing import of steel from China. China has been exporting 8 million tonnes of steel every month (in 2023), which was the highest since 2015, and this has an impact on international steel prices as well as profitabili

Tata's TCIL to invest over Rs 1,785 cr in manufacturing unit in Jamshedpur

The Tinplate Company of India Ltd (TCIL), a unit of Tata Steel, on Friday said it will invest Rs 1,787 crore for setting up a 3-lakh-tonnes-per-annum manufacturing facility in Jharkhand's Jamshedpur. The facility, an expansion project, is scheduled for commissioning in 2026, and is likely to generate about 600 direct and indirect employment opportunities, TCIL said. A pact was inked between the company and the Jharkhand government in this regard at a ceremony to mark the completion of four years of the JMM-led government in the state. "... This landmark MoU heralds the establishment of a cutting-edge 300,000 Tons per Annum (TPA) manufacturing facility in Jamshedpur, backed by an investment of approximately Rs 1,787 crore," TCIL said in a statement. The facility will not only enhance Tinplate's manufacturing capabilities with advanced technology and automation, but also contribute significantly to both domestic and export markets, bolstering the state's industrial growth, it said.

NINL was home to snakes, scorpions when acquired by Tata Steel: MD Mehta

Snakes and scorpions crawled the premises of NINL, the land around was covered with bushes and the plant machinery was full of rust, its MD & CEO Sudhir Kumar Mehta said remembering the challenges involved in restarting the sick unit within a set 90-day deadline. The company was in debt, Mehta said, adding NINL is now doing financially good and has generated a revenue of around Rs 3,000 crore in the April-September or first half of the ongoing fiscal. On July 4, 2022, Tata Steel completed the acquisition of Odisha-based Neelachal Ispat Nigam Ltd (NINL) -- the first state-owned steel company to be divested by the Narendra Modi-led government -- through its erstwhile subsidiary Tata Steel Long Products (TSLP) for a consideration of Rs 12,100 crore. "NINL premises is of 2,500 acre. It had been closed for a long period. When we first entered the unit post the acquisition, there were snakes, scorpions, and lizards crawling in the premises. Bushes up to several feet had grown all over .

Netherlands Tata Steel plant forces choice between public health or economy

Locals have voiced concerns about the factory's pollution for decades. However, it was only in September that the Dutch national public health agency first established a direct link

Demand for TMT rebars to grow over next 3-4 months: Tata Steel VP

The demand for TMT rebars in India will continue to grow over the next three to four months, a senior industry executive has said. There is a good demand seen from the construction, housing, and infrastructure segments, where new projects are coming up all over the country, Ashish Anupam, Vice President - Long Products at Tata Steel Ltd, said. Besides, there is consistency in government policies. So, sentiments are also high among the investors, he added. "I am very bullish for three reasons. Firstly, the festive season is over, workers are back to work. The monsoon is also over. This is the best time for construction because there is no heat and all as well. Next three to four months, I am more bullish from the demand side. Prices, I can't say as it depends on raw materials," he told PTI. According to market research firm BigMint (formerly SteelMint), the TMT prices through blast furnaces have fallen from Rs 56,700 a tonne in September to Rs 55,900/tonne in November. The TMT rebar

Tata Steel aims to complete Kalinganagar project expansion by Dec 2024

Tata Steel aims to complete expansion of its Kalinganagar project by December next year, a company official said. The company had commenced the second phase of expansion of its Kalinganagar project in Odisha in November 2018 to reach the production capacity of 8 million tonnes per annum, from 3 MTPA, with an investment of Rs 23,500 crore. "We are aiming to complete the project and make it operational by December end next year," Rajiv Kumar, vice-president, Operation, Tata Steel Kalinganagar (TSK), told PTI in an interaction. The project includes raw material capacity expansion, upstream and mid-stream facilities, infrastructure and downstream facilities including a cold rolling mill complex, he said, adding that the new blast furnace being installed is India's largest with 5,870 cubic metres (cum) of inner volume. The phase 2 expansion will increase the production of flat steel at the plant to meet the growing requirements of automotive, general engineering, oil & gas, lifting ...

Stocks to Watch: Tata Steel, Vedanta, NMDC, IIFL Sec, Zomato, Banks, Auto

Stocks to Watch: The Securities Appellate Tribunal (SAT) has set aside the order by Sebi restricting IIFL Securities from taking new clients for two years

From Tata Steel to NMDC, big firms weigh bids for critical mineral blocks

Tata Steel, Vedanta, NMDC among mining giants exploring the opportunity

Steel firms to hike qtrly contract prices after downward revision earlier

Tata Steel, JSW Steel, ArcelorMittal Nippon Steel India and other producers settling contracts

TCS, Tata Motors, Titan, IHCL: Track key levels for Tata Group stocks

Among the Tata Group stocks, shares of Tata Motors could potentially top the Rs 900-mark, while a select few could gain in the range of 15 - 19 per cent from present levels.

Tata Steel says it completes merger of S & T Mining Company with itself

Tata Steel on Friday said it has completed the merger of S & T Mining Company Ltd with itself. The scheme of amalgamation of S & T Mining Company Ltd ('S&T Mining') into and with Tata Steel Ltd was approved and sanctioned by National Company Law Tribunal (NCLT) Kolkata vide order dated November 10, 2023, according to a filing. "...scheme of amalgamation has become operative and effective from today i.e., December 1, 2023. In terms of the scheme of amalgamation, S&T Mining stands dissolved without being wound up, effective December 1, 2023," it said. Tata Steel is in the process of merging a number of subsidiary companies with itself. Its CEO & MD T V Narendran had earlier said the merger of the subsidiary companies with Tata Steel is expected to be completed in 2023-24.

Tata Steel appoints Akshay Khullar as VP of Engineering and Projects

Tata Steel on Monday announced the appointment of Akshay Khullar as the Vice President Engineering and Projects of the company. Tata Steel has also re-designated Peeyush Gupta as the Vice President TQM, group strategic procurement and supply chain of the company. "In terms of the company's succession plan for Senior Management Personnel, Akshay Khullar is being appointed as the Vice President Engineering & Projects (Designate), effective December 1, 2023 and as the Vice President Engineering & Projects, effective February 1, 2024," Tata Steel said in a regulatory filing. While Peeyush Gupta, currently serving as the Vice President Group Strategic Procurement and Supply Chain will lead the Total Quality Management (TQM) function, in addition to his current responsibilities, it said. Accordingly, effective February 1, 2024, Gupta will be re-designated as the Vice President TQM, Group Strategic Procurement and Supply Chain. In the filing, Tata Steel also announced ...

Tata Steel board approves allotment of 75.8 mn shares to TSLP shareholders

The Tata Steel board has approved the allotment of 7.58 crore shares to eligible shareholders of Tata Steel Long Products Limited. These equity shares are proposed to be listed and traded on BSE Limited and the National Stock Exchange (NSE), Tata Steel said in a regulatory filing on Wednesday. Tata Steel's board has approved the allotment of 7,58,00,309 shares to eligible shareholders of Tata Steel Long Products and the record date has been fixed as November 17. According to the filing, the share exchange ratio will be 67:10, which means that 67 shares of Tata Steel will be allotted for every 10 shares of Tata Steel Long Products. The scheme of amalgamation was approved and sanctioned by the NCLT-Mumbai Bench vide order dated October 20, 2023, and the NCLT-Cuttack vide order dated October 18, 2023. These equity shares so allotted shall rank pari-passu with the existing shares of Tata Steel. The above allotment, Tata Steel said, includes "14,430 fully paid-up equity shares of Tata

Tata Steel Foundation, KGA ink MoU to promote tribal art, music, culture

To promote tribal art, music and culture a Memorandum of Understanding (MoU) was signed between Tata Steel Foundation (TSF) and Mumbai-based Kala Ghoda Association (KGA) here on Saturday. The MoU was signed on the fourth day of the five-day pan India tribal conclave 'Samvaad'. It will allow tribals to participate in the Kala Ghoda Art Festival, which has been taking place in South Mumbai, Kala Ghoda Fort for the last 20 years. Chief Executive Officer of Tata Steel Foundation (TSF) Sourav Roy said "We have joined hands with KGA to take tribal art, music, and culture to South Mumbai. We are thankful to the KGA for giving us a space to put up installation, a stage for Rhythms of the Earth (ROTE) and an opportunity for tribal artisans to market their creativity." Expressing happiness over the MoU, the Festival Director and Chairperson of KGA, Brinda Miller said "We are very grateful to be a part of Samvaad. We appreciate music, dance, and other cultural expressions beyond art. We are .

Tata Steel cuts 800 jobs in the Netherlands to increase profitability

"Despite all efforts by Tata Steel to improve its market position and reduce costs, more needs to be done," the company said in a statement