Page 15 - Tata Steel

Tata Steel acquires about 1.16 bn equity shares in Singapore-based T Steel

Tata Steel on Wednesday said it has acquired about 116 crore equity shares in its Singapore-based arm for USD 182 million. "Tata Steel acquired 1,15,92,35,669 ordinary equity shares of face value USD 0.157 each aggregating to USD 182 million (Rs 1,528.24 crore) in T Steel Holdings Pte Ltd (TSHP)," the company said in an exchange filing. Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it added.

Metal shares fall on adverse SC ruling; Tata Steel, Vedanta drop up to 6%

The Supreme Court ruled in favor of the State governments' authority to levy taxes on mineral rights.

Cheap Chinese imports hurting domestic market: Tata Steel's T V Narendran

Tata Steel MD and CEO warned that low-priced Chinese steel may impact Indian cos capex plans

Tata Steel, Welspun jointly develop hydrogen-compliant grade steel pipes

Tata Steel and Welspun Corp have jointly developed hydrogen-compliant grade steel pipes for transportation of the gaseous hydrogen, a statement said on Friday. The development assumes significance as hydrogen transportation is critical for its usage in different sectors. "Tata Steel and Welspun Corp achieved the significant milestone of developing hydrogen compliant API X65 grade pipes, which successfully surpassed all necessary critical sour service and fracture qualification tests for transportation of 100 per cent pure gaseous hydrogen under high pressure at RINA, Italy," Tata Steel said in a statement. Tata Steel and Welspun Corp have become the first Indian companies to produce electric resistance welded (ERW) pipes for transportation of gaseous hydrogen, it said. In 2022, Tata Steel and Welspun Corp entered into a memorandum of understanding (MOU) to develop hydrogen-compliant API-grade pipes through the ERW Pipe route. As part of the partnership, Tata Steel said it has supp

Not much scope for unlocking value if too many taxes added: Tata Steel CEO

Narendran discusses issues from the UK strategy to the potential impact of the recent Supreme Court ruling on mineral tax

NTPC, Tata Steel among top picks by Jigar S Patel of Anand Rathi for Aug 1

Apollo Pipes has recently demonstrated a classic technical pattern known as a triple bottom around its historical support level near the Rs 600-mark.

Tata Steel Q1 results: Net profit rises 51% to Rs 959.61 cr on lower costs

Weak demand weighed on steel prices, says firm's CEO & MD

Stocks to Watch Today, July 30: Tata Steel, GAIL, RVNL, HPCL, PNB Housing

Stocks to watch today, July 30, 2024: GIFT Nifty indicates a lacklustre start for the benchmark equity indices on Tuesday. Here are buzzing stocks to watch during today's trading session

Tata Steel gets 5.57 bn equity shares in Singapore-based arm for $875 mn

Tata Steel on Monday said it has acquired over 557 crore equity shares in its Singapore-based arm for USD 875 million. In May, Tata Steel's board had approved infusion of funds into T Steel Holdings Pte Ltd (TSHP), by way of subscription to equity shares in one or more tranches, the company said in an exchange filing. "Further to our disclosure dated May 29, 2024... we wish to inform you that, the company has today acquired 557,32,48,408 equity shares of face value USD 0.157 each aggregating to USD 875 million (Rs 7,324.41 crore) in TSHP," Tata Steel said. Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it said.

These are top picks by Jigar S Patel of Anand Rathi ahead of Budget 2024

Recently, Tata Steel experienced a significant decline, dropping nearly 22 points after forming a double top at the 180 level.

Tata Steel seeks bigger share in auto sector, pins strategy on Odisha plant

Two crucial processing systems at Kalinganagar facility to be commissioned in the next few quarters

New UK govt pushes Tata Steel to protect local jobs before approving grant

The new UK Labour government insists on job protection at Tata Steel's Port Talbot plant as a condition for approving a £500 million support package for the company's low-carbon transition project

Don't see change in UK strategy: Tata Steel Chairman N Chandrasekaran

The transition from blast furnace to EAF technology puts 2,800 jobs at risk and the Labour government has been engaging in discussions to try and save jobs, according to reports in the UK

Fitch revises Tata Steel outlook to negative amid UK biz uncertainty

Fitch Ratings on Friday revised its outlook on domestic steel major Tata Steel to negative on account of uncertainty surrounding the turnaround of the company's operations in the UK. However, the expected robust growth in Tata Steel's India operations and likely earnings before interest, taxes, depreciation, and amortization (EBITDA) profits at Dutch operations in FY25, may offset any losses at UK operations, Fitch Ratings said in a report. "Fitch Ratings has revised the Outlook on India-based Tata Steel Limited's (TSL) Issuer Default Rating (IDR) to Negative, from Stable, and affirmed the IDR at 'BBB-'. "We have also affirmed the rating on the USD 1 billion notes due July 2024 issued by TSL's subsidiary ABJA Investment Co. Pte. Ltd. and guaranteed by TSL, at 'BBB-'," the statement said, adding that the negative outlook reflects uncertainty surrounding turnaround of the UK operations. The rating agency further said that the change in the UK government and labour union's actions to

Tata Steel launches virtual repository to track carbon dioxide savings

Private steel major Tata Steel recently launched a carbon bank, a virtual repository through which carbon dioxide will become a value-creating asset for future usage, a company statement said here on Wednesday. CO2 is widely recognized as a harmful substance emitted due to the use of various fossil fuels in industry and transportation. The steel industry, in particular, often relies on coal and other fossil fuels in its production line, resulting in the release of large quantities of CO2. The carbon bank is aimed at measuring and managing carbon dioxide savings generated from various sustainability projects. These savings not only contribute to environmental goals but also hold the potential for generating revenue that can be reinvested into further decarbonization efforts, it said. Rajiv Mangal, Vice President (Safety, Health & Sustainability), Tata Steel, said "In the face of mounting global concerns about sustainability, Tata Steel has taken proactive steps to spearhead carbon .

New British govt prioritising avoiding job cuts in Tata Steel talks

Tata, Britain's biggest steel producer, started closing one of its carbon-intensive blast furnaces on Thursday while the shutdown of its other one is slated for September

Tata Steel shuts 1 of its 2 blast furnaces at Port Talbot in South Wales

The decommissioning of blast furnace number 5 was in sync with the timeline indicated by the company earlier

Vedanta, Tata Steel, LT Fin, Brigade Ent among top buzzing stocks on July 4

Stocks to Watch today, July 4, 2024: L&T Finance's retail disbursements increased by 33 per cent Y-o-Y to Rs 14,830 crore in the June quarter (Q1-FY25)

Tata Steel's worker union calls off strike action at Port Talbot plant

A steelworkers' union planning to begin industrial action over Tata Steel UK future plans for its Port Talbot plant in Wales on Monday called off their strike, saying further investment talks had been assured. Unite the Union had said they would begin their strike action from July 8, leading to Tata Steel UK challenging the balloting process and also bringing forward a planned closure of blast furnaces. The company welcomed Unite's decision against a strike and shelved the early closure plans. "We have received written confirmation from Unite Union that with immediate effect they are suspending their current action short of a strike as well as the potential strike action due to commence on Monday 8 July, said a Tata Steel spokesperson. "As a result, and given we can now be confident of ensuring appropriate resourcing of activities to operate safely, we will halt preparations for the early cessation of operations on Blast Furnace 4 and the wider heavy end in Port Talbot, planned for

Tata Steel, SAIL: Analysts give 'sell' call on steel stocks; here's why

Individually, Welspun Corp, and Steel Authority of India dropped 8.5 per cent each, NMDC 4.9 per cent, APL Apollo Tubes 3.8 per cent, and Adani Enterprises 2 per cent in the last one month