Page 26 - Tata Steel

Rlys order for supply of seats for Vande Bharat, not for coaches: Tata

The order placed by the Railways is for the supply of seats and interior panels for Vande Bharat trains and "not to manufacture its coaches", a Tata Steel official has clarified. As part of the Rs 225 crore order, Tata Steel will supply light-weight seats for 23 coaches of Vande Bharat rails and fibre-reinforced polymer composites-based interior panels for 16 coaches of the high-speed train, Debashish Bhattacharjee, Vice President (VP) - Technology & New Materials Business of Tata Steel, told PTI. Some sections of the media have reported that Tata Steel has bagged orders for manufacturing coaches of Vande Bharat trains, which is "incorrect and baseless. We have not received the order to manufacture its coaches," he said. "Tata Steel has bagged the seats and interior panels order through a competitive bidding process executed by the national transporter (the Railways). We appeared as L1 for the prestigious order," he said, adding that the value of the order is Rs 225 crore. The ...

Govt planning PLI 2.0 to boost production of specialty steel: Scindia

The government is planning to introduce the second edition of the PLI scheme for specialty steel to boost production of value-added steel in the country, Union Minister of Steel Jyortiraditya Scindia said on Friday. The minister was speaking at the PLI Scheme for Specialty Steel MoU signing event in the national capital. It was attended by the companies selected to invest under the Rs 6,322-crore scheme. "Today is an important day in the history and future of the steel industry. PLI 1.0 is not a full stop, it is the beginning of the journey. Our ministry is already looking at PLI 2.0," he informed the participants of the first edition of PLI for specialty steel. The minister further asked the industry stakeholders to share their suggestions and feedback so the next PLI Scheme for specialty steel can be prepared at the earliest. As many as 27 steel companies signed 57 memorandum of agreements (MoUs) with the Ministry of Steel at the event to produce coated/plated steel products, hig

Railway Min, Tata Steel ink deal for seating, panelling in Vande Bharat

The Ministry of Railways has signed an agreement with Tata Steel for providing seating system, panelling for 22 Vande Bharat trains as one of its vendors

Jamshedpur Steel city is celebrating its 184th Founders Day today

The Tata Founders Day is celebrated on the birth anniversary of Jamsetji Nusserwanji Tata, who founded the Tata group

Stocks to Watch: Adani Green, Sonata Software, HG Infra, Zee Entertainment

Stocks to Watch: NCLT has admitted IndusInd Bank's Insolvency Plea against Zee Entertainment; Sri Lanka's Board of Investment have approved two wind power plants by Adani Green Energy

Nifty holds 17,500, ends Feb F&O series 2% down; Sensex drops 139 pts

CLOSING BELL: The S&P BSE Sensex settled at 59,605, down 139 points or 0.23 per cent

Tata Steel completes first multi-modal shipment of TMT bars to Tripura

Tata Steel successfully completed the first multi-modal shipment of 960 tonnes of TMT bars from West Bengal's Haldia Port to Tripura's Agartala, the company said on Thursday. The entire transportation from flag-off to receiving material at the distributor's warehouse in Agartala was completed in 17 days, it said. "The possibility of using this route to service additional, smaller-lot regions along the river is also worth exploring. The Indo-Bangladesh Protocol route is more economical as well as environmentally more responsible, Tata Steel Chief Group Shipping, Ranjan Sinha, said in a statement. Earlier in 2022, the company had successfully shipped 1,800 tonnes of finished steel products from Haldia Port in West Bengal to Pandu Port in Assam using the IBP route via the Brahmaputra river, it added.

Tata Steel signs MoU with CBRI for sustainable mining solutions on Tuesday

Tata Steel and Central Building Research Institute (CBRI), a constituent of the Council of Scientific and Industrial Research (CSIR), signed an MoU to collaborate on research, academic growth, and sustainable solutions in mining. The MoU was signed by D B Sundara Ramam, vice president Raw Materials, Tata Steel, and Prof. R. Pradeep Kumar, director CBRI, here on Tuesday, a company press release said. Under the agreement, CBRI will provide scientific inputs to Tata Steel on slope stability analysis and control measures in mining areas and affordable and sustainable green housing technologies for the rehabilitation and resettlement of families in mining areas. The partnership will also include technical training and workshops on geotechnical understanding and other scientific areas related to mining, the release said. Speaking on the development, Sundara Ramam said, "The collaboration with CBRI is a significant step towards our commitment to sustainable mining practices. We are excite

Mehul Kothari expects a pullback rally in Tata Steel, PEL; check why

According to the technical analyst from Anand Rathi, Piramal Enterprises can rally to Rs 950, while EaseMyTrip can jump to Rs 120.

Why the British operations remain a drag on Tata Steel's performance

Analysts believe that the challenges on account of the UK are not going away in hurry

Merger of 7 subsidiaries with Tata Steel to complete by FY24: CEO Narendran

The merger of 7 subsidiary companies with Tata Steel is expected to be completed in 2023-24 fiscal year, its CEO and managing director T V Narendran said. In September 2022, Tata Steel board had approved a proposal to merge six of its subsidiaries into itself for greater synergies, higher efficiency and reduce costs. "We had already announced (merger of) 6 companies earlier. (Merger of) one more Angul Energy we announced recently," he told PTI in reply to a question on the timeline for the merger. However, the completion of the merger depends on the regulatory processes including NCLT clearances, post which the process is expected to be completed in the next financial year, the CEO said. "We are dependent on the speed at which we can go through our regulatory requirements," he added. Besides Angul Energy, the six subsidiaries to be merged with Tata Steel are Tata Steel Long Products (TSPL), The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, and Tata .

Europe ops will be out of woods only in next FY: Tata Steel's T V Narendran

"Fundamentally, we believe that having fewer sites with larger capacity potential per site is better and more efficient"

Tata Steel slips 5% on profit-booking after disappointing Q3 performance

The disappointing performance during the quarter was on the back of a sharp drop in realisations in Europe coupled with a non-cash deferred tax expense on account of British Steel Pension Scheme.

Stocks to Watch: Tata Steel, Hindalco, JK Paper, Muthoot Fin, Adani Ports

Stocks to Watch: Tata Steel reported a consolidated net loss of Rs 2,223.84 crore in the December quarter (Q3FY23) on the back of a sharp drop in realisations in Europe

Tata Steel posts surprise Rs 2,224 crore net loss in December quarter

Plunge in realisations in Europe, non-cash deferred tax expense on account of British Steel Pension Scheme drag the firm into the red

Tata Steel slips into red; posts Rs 2,501 cr loss in Q3 on higher expenses

Steel major Tata Steel on Monday reported a consolidated net loss of Rs 2,501.95 crore in the quarter ended on December 31, 2022, on account of higher expenses. The company had posted a net profit of Rs 9,598.16 crore in the year-ago period, according to a regulatory filing. Total income on a consolidated basis fell to Rs 57,354.16 crore in the October-December quarter from Rs 60,842.72 crore earlier. The company's expenses rose to Rs 57,172.02 crore in the quarter under review from Rs 48,666.02 crore in the year-ago period. Tata Steel Group is among the top global steel companies with an annual capacity of 34 MT.

Tata Steel Long Products reports loss of Rs 237 crore in Q3, income rises

Tata Steel Long Products Ltd on Wednesday reported a standalone loss of Rs 236.93 crore in the quarter ended December 31, 2022. In contrast, the company had posted a standalone profit of Rs 103.88 crore in the year-ago period, Tata Steel Long Products Ltd said in a regulatory filing. The standalone income of the company increased to Rs 1,952.41 crore from Rs 1,686.98 crore in the year-ago period.

Metals eye up to 15% gain amid China reopening, likely capex push in Budget

Over half of the stocks in Nifty Metal Index are trading with a bullish sentiment ahead of Budget 2023,

Tata Steel sets up Centre for Innovation in Mobility at IIT-M Research Park

The Centre for Innovation in Mobility is in addition to the state-of-the-art centre application centre at Jamshedpur

Indices rebound after 3-day decline on easing inflation; Sensex up 303 pts

The 30-share BSE Sensex rose by 303.15 points or 0.51 per cent to settle at 60,261.18. During the day, it jumped 460.23 points or 0.76 per cent to 60,418.26