Page 25 - Tata Steel

Tata Steel signs MoU with Hockey India to become official partner of WC

Tata Steel Limited has signed a Memorandum of Understanding (MoU) with Hockey India to become an Official Partner of the FIH Hockey Men's World Cup 2023 in Bhubaneswar-Rourkela. The 15th edition of the Hockey Men's World Cup will take place in Bhubaneswar-Rourkela from January 13 to January 29, 2023, a Tata Steel press release on Wednesday said. The MoU was signed on Tuesday. Chanakya Chaudhary, Vice President, Corporate Services, Tata Steel, said: "As a committed and long-term patron of sports in India, Tata Steel takes pride in being associated with the Hockey Men's World Cup once again. The state of Odisha has come to be recognised as a hub of the National sport, and Tata Steel is honoured to be part of the journey. We wish the tournament all the very best and hope it would encourage more youngsters to take up this sport in the future." "We are delighted to welcome Tata Steel into our family as an Official Partner for the FIH Odisha Hockey Men's World Cup 2023 Bhubaneswar - ...

Bidders seek clarity on ESL Steels' environmental clearance from Vedanta

Vedanta bought the firm under IBC in 2018 and recently put on the block, as it wanted to focus on its core business; bidders' current issue is with plant site in Jharkhand

New UK govt examining our proposal, promised to come back soon: Narendran

We have highlighted to them our financial situation given the way things are in Europe, and we have been promised that they will come back soon

Tata Steel hits over 3-month high in a weak market; stock up 6% in 4 days

The removal of export duty is a significant relief and a long term positive for the domestic steel sector, according to analyst at ICICI Securities.

Jindal, Adani, Mittal line up more projects and investments in Odisha

The spirit was matched by industrialists - the who's who of India Inc who were present on Thursday, the first day of the investment conclave

Tata Steel will continue to invest in Odisha, says CEO T V Narendran

Tata Steel which has make investments of over Rs 75,000 crore in Odisha will continue to invest in the state which has 25 per cent of India's total steel making capacity, its MD & CEO T V Narendran said. Narendran made the remarks at the 'Make in Odisha Conclave 2022' in Bhubaneswar on Thursday. "The Tata group of companies, and more specifically Tata Steel, has invested over Rs 75,000 crore in Odisha in the last five years. We will continue to invest to support the growth in Odisha," the official said. Over the last few years in Odisha, Tata Steel has not just built its plant in Kalinganagar, but has also acquired several assets which include Neelachal Ispat plant, he said. According to Narendran, Tata Steel is the largest steel manufacturer in Odisha producing about 9 million tonnes of steel annually. "We plan to double this over the next few years as we expand in all our locations in Odisha. Odisha accounts for 1/4th of the steel capacity in the country today," he said. Steel

Chance for India to make steel for domestic, global needs: T V Narendran

Welcoming the government's move to remove export duty on steel, Tata Steel CEO T V Narendran said India has a great opportunity to make steel for domestic consumption as well as to meet global needs. "We welcome the government's decision to roll back the export duty on steel products and iron ore, imposed to deal with the inflationary situation, and we acknowledge the same," Narendran told PTI. India, being richly endowed with iron ore, has a great opportunity to make steel in India, for India, and for the world, he said. China, Japan, and South Korea, together export around 150 million tonne of steel annually despite importing most of their iron ore needs, Narendran noted. Six months after imposition of the levy on May 21, the government removed the export duty on steel items and iron ore to nil effective from November 19, 2022.

Stocks to Watch: PNB, Tube Investments, Indian Oil, Laurus Labs, SBI, Lupin

Stocks to Watch: Punjab National Bank (PNB) on Thursday said it received the government's approval to divest its entire stake (15.22 per cent) in UTI Asset Management Company

Roll-back of export duty on steel has no near-term earnings upside: Experts

Analysts perceive the roll-back of export duties on steel as a valuation re-rating event, rather than an earnings upgrade trigger

Aftermath of Russia-Ukraine war dims the sheen on steel industry

But strong domestic demand and cooling raw material prices encourage manufacturers to stay the course on capex plans

Less than 50% capex planned for FY23 utilised, says Tata Steel CEO

Tata Steel has spent less than half of the capex planned for ongoing 2022-23 fiscal year, its CEO T V Narendran said. The company had planned Rs 12,000 crore of capex for the year, of which about Rs 8,500 crore was for India and the balance for Europe. "We have spent a little less of the 50 per cent (of the planned capex) till now," Narendran told PTI in reply to a question related to capital expenditure plan for FY23. For September quarter, Tata Steel reported 90 per cent drop in consolidated net profit to Rs 1,297 crore as against Rs 12,547.70 crore in the year-ago period. In India, Tata Steel acquired Odisha-based steel maker Neelachal Ispat Nigam Ltd (NINL) for Rs 12,000 crore in a bidding process in July. In the UK, the company is seeking 1.5 billion pounds from the UK government to execute its decarbonisation plans. Tata Steel owns the UK's largest steelworks at Port Talbot in South Wales and employs around 8,000 people across all its operations in the country. Narendran h

Mining & metal companies see reversal of fortune in September quarter

Profits down 91% in Q2, driven by margin contraction because sales realisation did not keep pace with rise in expenses

Jamshed Irani: Architect of post-lib Indian industry and 'New Tata Steel'

Irani transformed Tata Steel totally to make it the world's lowest-cost steel producer by 2001, completely revamped technology and used his phrase "Customer Har Haal Me" to augment user delight

Latest LIVE update: PM meets those involved in rescue operations at Morbi

Catch all the latest updates from across the globe here

Sensex gains 375 pts, ends above 61K; Nifty atop 18,100; IT, metal lead

MARKET WRAP: Pharma, power and IT stocks were the major gainers in trade on Tuesday, while index heavyweight Reliance Industries and select banking shares ended on a tepid note.

'Steel man of India' passes away at 86: Who was Jamshed J Irani?

A part of Tata Steel for over four decades, Jamshed J Irani was a tall name in the metal industry in India

Stocks to Watch: Bharti Airtel, Tata Steel, Axis Bank, L&T, Zomato, Castrol

Stocks to Watch today: Bharti Airtel's (Airtel's) consolidated net profit jumped 89% year-on-year (YoY) to Rs 2,145 crore in the second quarter (Q2) of 2022-23, led by strong revenue growth

Jamshed J Irani, known as the Steel Man of India, passes away at 85

Jamshed J Irani, known as the steel man of India, died in Jamshedpur late Monday night, Tata Steel said. He was 85. Irani was associated with Tata Steel for over four decades. He retired from the board of Tata Steel in June 2011, leaving behind a legacy of 43 years, which won him and the Company international acclaim in various fields. Born on June 2, 1936 in Nagpur to Jiji Irani and Khorshed Irani, Dr Irani completed his BSc from Science College, Nagpur in 1956 and MSc in Geology from the Nagpur University in 1958. He then went to the University of Sheffield in UK as a J N Tata scholar, where he secured a Masters in Metallurgy in 1960, and a PhD in Metallurgy in 1963. He started his professional career with the British Iron and Steel Research Association in Sheffield in 1963, but always yearned to contribute to the Nation's progress. He returned to India to join The Tata Iron and Steel Company (now Tata Steel), as it was then known, in 1968, and joined the firm as Assistant to th

Tata Steel Q2 net profit down 87.3% to Rs 1,514 cr over decline in margins

Revenues from operations at Rs 59,877.52 crore was marginally down from Rs 60,387.13 crore in the year-ago period

Tata Steel to take a call on UK business after government's response: CEO

Tata Steel's future course of action with respect to its UK business will be based on the British government's response to the company's proposal seeking financial support to sustain the business there, CEO T V Narendran said Monday. Tata Steel owns the UK's largest steelworks at Port Talbot in South Wales and employs around 8,000 people across all its operations in the country. The company is seeking 1.5 billion pounds from the UK government to execute its decarbonisation plans. On a conference call, Narendran said, "Obviously plans are being made in case we don't get the support that we seek form the (UK) government, but it's too early to talk about (it), but again a lot of conversations are going on internally to how we plan for all situations." He made the remarks in reply to a question on the company's plan in case the UK government does not accept the Tata Steel's proposal. Tata Steel is seeking support from the UK government in two forms. In policy terms by encouraging the .