Page 16 - Tata Steel

BSE Metal index surges 3% as base metals climb to multi-year highs

Metal stocks top performers: Here's why metal stocks were in demand on the Dalal Street on Wednesday.

Tata protests: Steelworkers at UK's plant vote to strike over job losses

Around 1,500 Tata Steel workers based at two plants in Wales voted in favour of industrial action on Thursday over the company's plan to close its blast furnaces and shed 2,800 jobs. The Mumbai-headquartered steel major said it was disappointed over the move while consultation continues and pointed to significant irregularities in the ballot process in favour of strikes. While the company says its restructuring plans were important to sustain the business as it transforms to new electric technology, Unite the Union said its workers from the Port Talbot and Newport Llanwern plants had voted against the disastrous plans because they did not agree with the approach. We are naturally disappointed that while consultation continues, Unite Union members at Port Talbot and Llanwern have indicated that they would be prepared to take industrial action up to and including strike action if an agreement cannot be reached on a way forward for the business and its employees, a Tata Steel ...

Metal shares rally up to 10%; Hindustan Copper, SAIL hit over 12-year highs

The Nifty Metal index hit a new high at 8,984, and was up 2 per cent in Tuesday's intra-day deals. The index has surged 9 per cent in the last one month.

Tata Steel to stop operations of coke ovens at Port Talbot plant

Coke ovens are manufacturing plants or blast furnaces for making coking coal, a key raw material in steelmaking

Tata Steel India sales rises 6% to 19.9 MT in FY24 on higher demand

Tata Steel India has reported a 6 per cent growth in deliveries to 19.90 million tonnes in FY24, supported by higher demand from retail, automotive and railway segments. In India, the company produced 18.85 million tonnes (MT) of steel during the preceding 2022-23 financial year, Tata Steel said in a statement on Saturday. Automotive and special products segment deliveries increased by 8 per cent in FY24 to 2.9 MT, surpassing the previous record in FY23. Branded products and retail segment deliveries increased by 11 per cent in FY24 to 6.5 MT. The industrial products & projects segment deliveries rose 6 per cent to 7.7 MT. Among sub-segments, engineering registered best-ever annual sales led by pre-engineered buildings and railways, among others, the company said. "Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home Builders, stood at Rs 2,240 crore in FY24 and were up 30 per cent, driven by best-ever 3Q and 4Q sales," it added. The company in India ...

Calcutta HC admits petition filed by Tata Steel over loan waiver from SDF

The case has been opened today by Tata Steel, and the hearing will continue on April 8, 2024

SAIL at 14-yr high; Can steel stocks extend rally? Here's what charts say

The Nifty Metal index has gained 6% in the last 3 days outperforming the benchmark Nifty. Here's a technical outlook on SAIL, Tata Steel, JSW Steel and Jindal Steel.

Hindalco, JSW, Tata Steel: Tech charts hint at mixed outlook for metal stks

The NSE Metal index has rallied 3% so far this week, while the Nifty has edged 0.2% higher. Technical charts suggest select frontline metal shares can rally another 14% from present levels.

Tata Chemicals stock slides over 7%; Tata Steel, Motors & TCS also dip

Apart from Tata Chemicals, shares of other Tata Group companies were also trading in red. Tata Motors dipped for a third consecutive trading session on Wednesday

Nifty50: Break below 21,745 to accelerate fall; Trend bullish in Tata Steel

After a healthy correction of 13 per cent, Tata Steel stock has found support on its 50 days SMA and has bounced back

Tata Steel plans to raise up to Rs 2,700 crore capital through debentures

Tata Steel on Tuesday said a board committee has approved raising of up to Rs 2,700 crore through debentures. "The Committee of Directors (constituted by the Board of Directors of Tata Steel Ltd), at its meeting held today i.e., March 19, 2024, considered and approved the issue of NCDs," the steel major said in a regulatory filing. The date of allotment of non-convertible debentures (NCDs) is March 27 and its maturity date is March 26, 2027. Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum. Shares of the company declined 0.64 per cent to Rs 148.65 apiece on the BSE.

Steel majors to invest billions of capital to meet buoyant local demand

A spurt in economic activity and a revamp of broader infrastructure have drawn steel makers from around the world to India, where demand is rising. In Europe and the United States, it is falling

Stocks to Watch: TCS, Aditya Birla Sun Life, L&T Finance, Tata Steel, SBI

Stocks to Watch on March 19, 2024: Tata Sons is set to divest a 0.65 per cent stake in in TCS on Tuesday in the open market, according to a term sheet. It will offload 23.4 million shares

Steel stocks surge up to 5% on muted Chinese steel output

The stocks of domestic steel companies surged nearly 5 per cent on Monday, on the back of muted steel production data from China. Share prices of Tata Steel, Jindal Steel and SAIL moved up

IRFC, Zomato, Voda Idea: Strategies for most actively traded stocks

As of 10 AM on Friday, Yes Bank, Voda Idea, IRFC, NHPC and Tata Steel were the top traded stocks among the Nifty 200 index. Here's a technical outlook on the select shares.

CLSA downgrades prompt selling in Tata Steel, JSW Steel after 3-day rally

Tata Steel had made a new record high of Rs 156 in Saturday's special session on March 2. In the last three days, prior to today's losses, the stock had rallied 8 per cent

Home business grows faster than overseas for India's biggest MNCs

These companies' revenues in India have grown at a faster pace than their overseas revenues. As a result, the contribution of Indian business to consolidated revenues has steadily increased

Tata Capital seeks shareholders' nod on related party deals with Tata Steel

RPTs with Tata Steel to rise to Rs 12,000 cr

Tata Steel, JSW Steel among bidders for mines under coal block auction

Tata Steel, JSW Steel and Rungta Sons are among the 27 companies which have submitted bids for coal blocks put up for commercial mines auction, the government said on Tuesday. "A total of 27 companies including major companies like Tata Steel Ltd, JSW Steel Ltd, Rungta Sons Pvt Ltd., etc. have submitted their bids in the auction process," the coal ministry said in a statement. Other companies which submitted bids include ACC Ltdd, J K Cement and Thriveni Earthmovers. A total of 27 coal mines have been put up for auction in the ninth round of auction. A total of 33 bids were received for 13 coal mines. Under the second attempt of the seventh round of auction, a total of five coal mines were put up for auction and seven bids were received against three coal mines, the coal ministry said. "The online bids were decrypted and opened electronically in the presence of the bidders. Subsequently, sealed envelopes containing offline bid documents were also opened in the presence of bidders

NCLT allows Tata Steel's proposal to withdraw merger with TRF Ltd

The NCLT has approved Tata Steel's proposal to withdraw merger with TRF Ltd, according to an exchange filing. On February 7, Tata Steel had said that its board has decided not to pursue the amalgamation of TRF Ltd, as the associate company is witnessing a turnaround in its business performance. "We would like to inform that the National Company Law Tribunal, Mumbai Bench (NCLT), vide its order dated February 8, 2024, has allowed the withdrawal of the scheme," the steel major said in the filing. Tata Steel had earlier announced the amalgamation of nine of its strategic businesses, including Tata Steel Long Products, Tinplate Company of India, Tata Metaliks, TRF, The Indian Steel & Wire Products, Tata Steel Mining Ltd, S & T Mining Company. As per Tata Steel, TRF Ltd is in the business of undertaking turnkey projects of material handling for the infrastructure sector such as power and ports and the industrial sector such as steel plants, cement, fertilisers and mining. TRF is ...