Page 22 - Tata Steel

INOX invests in Tata Steel's Dhenkanal plant to set up air separation units

INOX Air Products will invest Rs 1,300 crore to set up two air separation units having capacity of 1,800 tonnes a day each at Tata Steel's plant in Dhenkanal, Odisha, company's Managing Director Siddharth Jain said. The plant is being set up as part of a partnership with the steel major for supplying industrial gases like oxygen, nitrogen and argon -- which are used in the steel making process, the company executive told PTI during an interaction. The air separation units (ASUs) will be the single-largest greenfield investment ever made by INOX Air Products and will support Tata Steel's ongoing steel capacity expansion. The units will separate these gases from the air and supply it to the steel plant, Jain said, adding that the project is expected to be commissioned by March, 2025. When asked about the details of the partnership, he said his company has signed an agreement with Tata Steel for 20 years to supply oxygen, nitrogen and argon, and Rs 1,300 crore will be invested to set

Indian steelmakers look for government support to go the green way

Transition calls for large investment but demand for and premium on eco-friendly steel remains dull

Enough opportunities to take capacity to 40 MT in India: Tata Steel CEO

Tata Steel sees enough growth opportunities within its existing facilities to actualise an expansion plan to achieve 40 million tonne capacity in India by 2030, almost double of its current capability in the country, CEO and Managing Director T V Narendran said. The steel giant will continue to hold talks with the UK government over a financial package for operations there, he said. The company has planned capital expenditure to the tune of Rs 12,000 crore for India operations, he said. "In India, basically we want to increase the capacity. We have already around 21 MT. It will be 25 MT soon because the Kalinganagar expansion is going on. We have a few more plans - Neelachal, Kalinganagar and Meramandali or Angul to achieve 40 million tonne capacity by 2030," Narendran told PTI in an interview here. There are multiple ongoing projects at various locations in India and the company has prioritised completion of the 5 MTPA Kalinganagar expansion", he said. The company is in the proce

Tata Steel Mining signs MoU with BPCL to get LNG for Odisha plant

In an attempt to secure long-term supply of liquified natural gas for its ferroalloys plant located in Odisha's Jajpur, Tata Steel Mining Ltd (TSML) has signed a memorandum of understanding with Bharat Petroleum Corporation Ltd (BPCL). As per the MoU signed here on Thursday, central PSU BPCL will supply the agreed quantity of natural gas through its pipeline to the ferroalloys plant at Jajpur, said TSML, a 100 per cent subsidiary of Tata Steel in a statement. It said that the agreement is a part of TSML's sustainability initiatives and it will aid the business in significantly reducing its carbon footprint because it will allow it to produce ferroalloys using cleaner fuel LNG rather than furnace oil. "Our partnership with BPCL will ensure a steady supply of LNG for our ferro alloys plant in Jajpur. This Memorandum of Understanding is consistent with our commitment to decarbonisation and our sustainability plan, TSML Managing Director Pankaj Satija said. Rouf M Khan, Head (GAS), Eas

Fitch says outlook for Tata Steel positive, stable for JSW Steel

Rating for companies based on their EBITDA growth and improved finances

Stocks to Watch on May 10: L&T, SpiceJet, SCI, Apollo Tyres, Tata Steel

Stocks to Watch today: In a major blow, lessors have approached aviation regulator DGCA for deregistration of three planes of SpiceJet

Tata Steel CEO Narendran expects Europe ops to improve from July-Sept

Europe is still struggling but things are getting better because energy prices have come down, T.V. Narendran told Reuters in an interview

Sensex snaps 8-day winning run, ends 161 pts lower ahead of Fed outcome

Stock market live: Overnight in the US, banking shares declined as investors fret over the stability of small regional banks. The Dow Jones and Nasdaq fell 1.08% each while the S&P 500 shed 1.16%

Tata Steel's Q4 points to divergent cyclical trends in steel markets

So are analyst opinions with ratings ranging between 'hold to 'buy', and valuations between Rs 110 and Rs 132

Will come to a decision on UK biz in 12 to 24 months: Tata Steel MD & CEO

'We have planned a capex of Rs 16,000 crore. Of this, roughly, Rs 4,000 crore is in Europe, with the Netherlands accounting for about Rs 3,000; the balance will be in the UK'

Stocks to Watch Today: Airline, Tata Steel, PSB, Airtel, Sugar, Max Health

Stocks to Watch: Shares of aviation firms, such as IndiGo, SpiceJet, Jet Airways, are likely to be in focus on May 03 after Go First filed for insolvency proceeding on Tuesday.

Tata Steel flags risk to UK operations' status as a going concern

Discussions with the UK government on support for the transition had been on for almost three years now

Tata Steel Q4 net profit down 82% to Rs 1,704.86 crore but beats estimates

In Q4FY23, Tata Steel Europe reported an EBITDA loss of Rs 1,641 crore. In the previous quarter, EBITDA loss had stood at Rs 1,551 crore

Tata Steel Q4 results: Consolidated net profit declines 83% to Rs 1,705 cr

The Tata Steel board has declared a dividend of Rs 3.60 per equity share

From Ambuja Cements to Tata Steel: Q4 results to watch out for today

Q4 Results of Adani group companies are important to look at the fundamentals of the group after the rout its companies had to face post the Hindenburg Research report

Stocks to Watch Today: Adani Group, UltraTech, Auto, Sugar, ONGC, Blue Star

Stocks to Watch: On the earnings front, Ambuja Cements, Adani Total Gas, PSB, Tata Steel and Uco Bank are likely to be on investors radar on Tuesday.

Tata Steel signs business cooperation agreement with A&B Global Mining

Tata Steel on Thursday said it has signed an agreement with A&B Global Mining to harness new business development opportunities and deliver mine technical services. The steel major will closely work with ABGM India which will interface with their South African entity to explore business opportunities in India and abroad besides utilise each other's technical and strategic strengths to deliver projects across the mining and metals, including the steel value chain, a company statement said. ABGM will also collaborate with Tata Steel to deliver competitive integrated business solutions to the global mining industry, it said. "We started offering mine technical services commercially to the mining industry along with our partners, and this agreement will further complement our capabilities and capacities to raise the standards of such services in India in particular and internationally in general for more scientific and sustainable mine development, Tata Steel vice president (raw ...

TSLP reports Rs 184 cr loss in Q4 on account of increased expenses

Tata Steel Long Products (TSLP) has posted a standalone loss of Rs 184.11 crore during the fourth quarter of financial year 2022-23, on account of increased expenses. The company had reported a net profit of Rs 59.62 crore during the January-March period of fiscal year 2021-22, TSLP said in a regulatory filing on Tuesday. The company's total income rose to Rs 1,911.98 crore, from Rs 1,823.67 crore in the year-ago quarter. While the company's total expenses surged to Rs 2,054.12 crore in the quarter under review, from Rs 1,738.24 crore in the same quarter a year ago. For the full year 2022-23, the company has posted a loss of Rs 1,085.49 crore. It had clocked Rs 629.87 crore net profit in FY 2021-22. Tata Steel Long Products is into manufacturing of high alloy steel primarily for the auto sector and wire rope industry. With one million tonnes capacity, it is one of the largest speciality steel plants in India in the long product segment. Besides, the company also manufactures and

Tata Steel starts hydrogen gas injection in furnace to cut CO2 emissions

Process in line with company's vision of becoming net zero by 2045

Metal shares gain in subdued market; Jindal Steel, Tata Steel soar up to 4%

Thus far in the month of April, Jindal Steel has rallied 8 per cent, as against 1.6 per cent rise in the Nifty 50 and 5.7 per cent gain in the Nifty Metal index.