Page 20 - Tata Steel

Not so keen on any other new acquisitions: Tata Steel CEO Narendran

Tata Steel - which is in an expansion mode in India - is not so keen on any other new acquisitions, the company CEO T V Narendran has said. The statement from Narendran has come amid Vedanta Ltd reviewing and evaluating its steel and steel-making raw materials businesses. In June, Vedanta Ltd said it will immediately begin the review and evaluate a broad range of options including potential strategic sale of some or all of its steel businesses. "Not so keen on any other new acquisitions... We don't need it," Narendran said in a reply to a question on his company's interest in buying Vedanta Ltd's steel business. There is a lot to do at Tata Steel's existing sites, he added. The company has a plan to scale up its annual installed steel making capacity to 40 million tonnes per annum (MTPA) by 2030 in India, from around 22 MTPA at present. In June 2018, Vedanta Limited acquired Jharkhand-based steel company ESL Steel Limited through an insolvency resolution process. The company set

Tata Steel to bid for iron ore mines ahead of expiry of leases in 2030

Lease of 4 of its ferrous mines to expire in 7 yrs, even as prepares to double steelmaking capacity

Tata Steel 1st Indian firm to use LNG powered carrier for raw material

Tata Steel became the first Indian company to use clean fuel Liquified Natural Gas (LNG) powered Capesize carriers for its raw material movement from Australia to India, the company said on Friday. In an initiative to lower the company's Scope 3 carbon footprint, the steel major imported 1,65,700 metric tons of coal from Australia's Gladstone to Dhamra port in Odisha using MV Ubuntu Unity, a cape vessel powered by clean fuel LNG. Capesize' is the largest class of cargo ship. They are called so as they cannot pass through the Panama Canal and have to go around the Cape of Good Hope to sail between the Pacific and Atlantic oceans. "In 2021, Tata Steel became the first in the Indian Steel Industry to deploy a ship powered by biofuel. We continued the decarbonation drive with seven biofuel shipments in FY23. In continuation to our sustainability drive, in FY24, we are the first to deploy an LNG powered vessel for transportation of raw materials to India," said Peeyush Gupta, the ...

Tata Steel expects lower steel prices in July-September quarter: CEO

The company, backed by India's Tata Group, sees Indian steel industry prices in line with prices globally and not impacted by aggressive imports, Narendran said

Talks with UK govt have picked up significantly: Tata Steel's T V Narendran

T V Narendran, Tata Steel MD & CEO, tells that collectively the Tata group is one of the biggest investors and employers in the UK

Stocks to Watch: Tata Steel, RIL, Maruti, TVS Motor, HDFC AMC, JK Paper

Stocks to Watch on July 25, 2023: Asian Paints, Bajaj Auto, Cyient, CEAT, Delta Corp, Jubilant FoodWorks, KPIT Tech, Larsen & Toubro, SBI Life and Tata Motors will release their Q1 results today

Tata Steel Q1 results: Net profit plunges 92% but still beats estimates

Net profit was Rs 633.95 crore and revenue from operations Rs 59,489.66 crore, 6 per cent lower from a year ago

T V Narendran re-appointed as Tata Steel's CEO and MD for 5 years

Tata Steel on Monday said T V Narendran has been appointed again as the company's Chief Executive Officer & Managing Director for a period of five years effective September 19, 2023. His present tenure as CEO & MD will conclude on September 18, 2023, Tata Steel said in a regulatory filing. "T V Narendran is appointed as CEO & MD of the Company for a further period of five years effective September 19, 2023...not liable to retire by rotation," it said The re-appointment is subject to shareholders' approval, the company said. He has over 35 years of experience in the mining and metals industry. Narendran joined Tata Steel in 1988. He was appointed as Managing Director of Tata Steel for India and South East Asia on November 1, 2013. In October 2017, Tata Steel elevated Narendran as Chief Executive Officer and Managing Director globally. As the CEO & MD, he has overseen the organic and inorganic growth of Tata Steel over the last few years. Narendran oversaw the ...

Tata Steel Q1 consolidated net profit falls over 93% to Rs 524.85 cr

Tata Steel on Monday posted over 93 per cent decline in consolidated net profit to Rs 524.85 crore for the April-June quarter of 2023-24 on account of higher expenses. It had posted Rs 7,714 crore net profit in the corresponding period of 2022-23, according to a company filing to exchanges. Total income also declined to Rs 60,666.48 crore from Rs 63,698.15 crore in the year-ago quarter, a fall of 4.75 per cent. Expenses soared to Rs 58,553.25 crore in the first quarter of FY24 as against Rs 51,912.17 crore a year ago.

Sensex falls for 2nd day, slips 299 pts; ITC sheds 4%; auto stocks gain

CLOSING BELL ON JULY 24, 2023: The NSE Nifty ended with a loss of 73 points; Reliance down 2% was the other major laggard on Monday.

Manufacturing companies opt for flexible work rules in post-coronavirus era

Deloitte's India Benefits Report 2023 findings reported that one-third of about 80 manufacturing firms have changed their policies to enable hybrid working arrangements post Covid-19

Tata Steel manufactured crane used in rocket launch for Chandrayaan-3

Private steel major Tata Steel on Wednesday said that it manufactured the crane used for the successful launch of the LVM3-M4 rocket, dubbed as 'Fat Boy', in the Chandrayaan-3 mission. It said the crane was manufactured in Tata Growth Shop in Jamshedpur. "Our cutting-edge crane technology played a crucial role... We supplied the Electric Overhead Traveling (EOT) crane which was installed at the Satish Dhawan Space Centre of Indian Space Research Organisation (ISRO) at Sriharikota, Andhra Pradesh," it said. "Through our contribution to the launch... we reaffirm our commitment to fostering India's technological advancement and growth," it stated. The rocket was launched from Sriharikota on July 14.

Tata Steel UISL spearheads measure to prevent dengue in Jamshedpur

Tata Steel UISL, a 100 per cent subsidiary of Tata Steel, on Monday said the company was taking measures to combat the spread of dengue and other vector-borne diseases in the monsoon season in Jamshedpur City. Tata Steel UISL has implemented a comprehensive strategy to prevent and control the transmission of dengue, the company said in a statement. Key activities undertaken by Tata Steel UISL included rigorous surveillance to identify and destroy mosquito larvae in residential areas. Trained teams are conducting thorough inspections and taking actions to eliminate the potential breeding sites. From April to June this year, a total of 180,062 houses have been covered under the surveillance and out of these, mosquitoes larvae were found in 4,193 houses, the statement said. Besides, Tata Steel UISL is conducting extensive searches for breeding sites of culex mosquitoes in outdoor stagnant water, drains, and ditches and riverbeds.

Stocks to watch: HDFC Bank, Bandhan Bank, LTIMindtree, Angel One, D-Mart

Stocks to watch on July 17, 2023: From HDFC Bank to Angel One, here are the top stocks to watch in Monday's trading session

Tata Steel to explore opportunities in lithium, other battery-minerals

The Tata Group, in June, also signed a deal with the Gujarat state government for setting-up a lithium-ion cell factory with an investment of about Rs 13,000 crore

Tata Steel joins LeadIT to drive net-zero industry transformation

Tata Steel has joined the Leadership Group for Industry Transition (LeadIT), a global initiative to accelerate the transition to net-zero emissions in heavy industry, the company said on Wednesday. LeadIT was created by the governments of Sweden and India during the UN Climate Action Summit in September 2019 and is backed by the World Economic Forum. The group brings together governments, companies, investors, and other stakeholders to share best practices, develop new technologies, and advocate for policies that support the transition to a net-zero emissions economy. Tata Steel's membership in LeadIT is a significant milestone for the company, as it positions Tata Steel as a global leader in the drive to decarbonize the steel industry. Tata Steel has set a goal to become net-neutral in carbon emissions by 2045, and joining LeadIT will help the company achieve this goal by providing access to a network of experts and resources. "Tata Steel's membership in LeadIT presents a signifi

Sensex sinks 505 pts, Nifty gives up 19,350 amid global weakness; PSBs soar

Closing Bell on July 7, 2023: PowerGrid, IndusInd Bank, HUL, NTPC, Bajaj Finance, HCL tech, Tech M, L&T, Asian Paints, ICICI Bank, ITC, Kotak Bank, Infosys, and HDFC twins declined up to 3 per cent

Stocks to Watch on July 7: Dabur, Titan, SBI Card, PSBs, Cipla, Sobha, IHCL

Stocks to Watch today, July 7, 2023: Titan Company has registered a 20 per cent year-on-year (YoY) consolidated revenue growth in Q1FY24

Tata Steel consolidated output falls 7.69% to 7.08 MT in Q1; sales grow 8%

Tata Steel on Thursday its consolidated production declined to 7.08 million tonnes (MT) in the first quarter of FY24. The company's consolidated production was at 7.67 MT during April-June of the preceding financial year, Tata Steel said in a statement. Consolidated deliveries however rose 7.97 pc to 7.04 MT from 6.52 MT in the same period of the last fiscal. In India, Tata Steel India produced 5.01 MT of steel over 4.92 MT in the year-ago quarter. The deliveries in India rose to 4.80 MT from 4.07 MT a year ago. Tata Steel Europe saw its production fall to 1.81 MT from 2.44 MT in April-June FY23. In Europe, the deliveries fell to 1.97 MT from 2.14 MT in the same quarter a year ago. In Thailand, Tata Steel Thailand produced 0.26 MT, down from 0.31 MT Q1 in the preceding fiscal. In Thailand also deliveries reduced to 0.27 MT from 0.31 in the year-ago quarter. "The planned relining of BF6 at Tata Steel Netherlands commenced in April and this has led to a drop in crude steel producti

Tata Steel dismisses 35 for 'unacceptable practices', says ethics priority

Company will uphold 'highest values' and has a zero-tolerance policy for breach, says Chandrasekaran