Page 17 - Tata Steel

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

Tata Steel's global stride with new deal to aid Europe profitability

15 years ago, the global financial crisis set in and undid Tata Steel's best-laid plans in Europe. How far can the new deal help?

Tata Steel CEO expresses concern over India's rising steel imports

India being a net importer of steel is a matter of concern, Tata Steel CEO & MD T V Narendran said Tuesday. The government has assured of intervention, if the imports remain on a rise, Narendran said at the ISA Steel Conclave event in the national capital. "I think it's a little bit of a concern because internationally steel prices are still a bit soft because of China... You heard the (commerce) minister Piyush Goyal saying that if imports increase the government will look at what it can do to help us," he said replying to a question on India being net importer of steel in October. Commerce and Industry Minister Piyush Goyal on Tuesday assured the domestic industry that India will not accept such unfair taxes and will fight to get a fair deal for producers and exporters. He said India has already flagged its concerns over the carbon tax with the European Union (EU) and in the WTO (World Trade Organization). The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of ..

Tata Steel seeks financial aid for Netherlands unit; to submit proposal

After securing a funding in the UK, Tata Steel is looking for a financial aid from the Netherlands government to execute its decarbonization plans. In October 2021, Tata Steel completed the process of separating Tata Steel UK and Tata Steel Netherlands as two independent companies from Tata Steel Europe. "In Netherlands, we will shortly be submitting the detailed decarbonization proposal to the Dutch government seeking regulatory and financial support," Tata Steel CEO & MD TV Narendran said. Tata Steel Netherlands has been working intensely with Government of Netherlands on the contours of the decarbonization project covering emission and health standards. The detailed decarbonization proposal will shortly be submitted to Government of Netherlands seeking regulatory and financial support which is critical for the company's Dutch operations. Both parties will then discuss the detailed conditions of the project, a Tata Steel statement said. The board of Tata Steel will duly ...

We worked very hard, it's the best proposal: Tata Steel CEO T V Narendran

'Unions are obviously reflecting the sentiments of their members. One way to look at it is there are many jobs which are saved, but for the people who may be losing jobs, it's an emotional issue'

Q2FY24 performance: Cautious near-term outlook for Tata Steel stock

The UK operations suffered from low steel prices as well as higher costs on the emission rights front

Stocks to Watch: Tata Steel, Hero Moto, Britannia, GAIL, JK Tyre, Ambuja

Stocks to watch on November 2, 2023: Two-wheeler manufacturer Hero Moto's consolidated net profit rose 47.6 per cent YoY to Rs 1,007 crore in the September quarter

Tata Steel sees consolidated net loss of Rs 6,196 cr in Sept quarter

The company has also taken a charge towards restructuring and other provisions of Rs 3,612 crore in consolidated financial statements

Tata Steel cancels press conference as UK workers brace for job cuts

People familiar with the matter had said the firm was set to announce the restructuring of its operations at the Port Talbot site in south Wales