Page 9 - Tata Steel

At current steel prices, margins don't justify investments: Tata Steel CEO

T V Narendran tells that in many ways second quarter of FY25 was the worst, but Q3 also comes with challenges

Tata Steel Q2 results: Net profit at Rs 833.45 crore due to lower expenses

T V Narendran, chief executive officer and managing director of Tata Steel, said the global operating environment remains complex, with key regions experiencing subdued growth

Tata Steel Q2 results: Net profit at Rs 759 cr, total income up marginally

Tata Steel on Wednesday reported a net profit of Rs 758.84 crore for the September 2024 quarter, helped by lower expenses. It had posted a net loss of Rs 6,511.16 crore in the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing. The company's total income rose to Rs 54,503.30 crore during the second quarter against Rs 55,910.16 crore in the same period a year ago. Tata Steel reduced its expenses to Rs 52,331.58 crore from Rs 55,853.35 crore in the year-ago quarter.

Q2 results today: Tata Steel, Apollo, JK Lakshmi among 97 to post earning

Q2 results today, November 6: Aadhar Housing Finance, Power Grid Corporation of India, and Jindal Steel & Power will be releasing their Q2FY25 results today

Tata Steel Q2 preview: Steel giant may post net loss of up to Rs 153 crore

Domestic brokerages anticipate a challenging quarter for Tata Steel marked by lower steel realisations and regional pricing pressures

Tata Steel UK inks contract for electric furnace in green steelmaking drive

Tata Steel said it has signed a contract with an Italy-headquartered metals technology multinational to deliver a state-of-the-art electric arc furnace (EAF) as part of its green steelmaking drive in the UK. The Indian steel major's pact last week with Tenova for its Port Talbot site in Wales, the UK's largest steelworks, has been described as a significant milestone on the road to reducing carbon emissions by 90 per cent a year once it is commissioned from the end of 2027. Under the agreement, Tenova is to supply an EAF with an annual capacity of 3 million tonnes of steel similar to the output of the site's blast furnaces decommissioned recently by melting scrap steel sourced from the UK. "This partnership follows in the footsteps of an improved deal between the government and Tata Steel, and is further proof of our commitment to a bright future for UK steelmaking," said UK Business and Trade Secretary Jonathan Reynolds. "Technology like the furnaces made by Tenova is critical t

Tata Steel, Tenova partner for electric arc furnace at Port Talbot plant

The plan was for the Tata Steel-owned site to be subject to a three to four-year-long decarbonisation plan to build an electric arc furnace which will make steel from scrap

Ratan Tata extraordinary leader who encouraged others: Tata Steel MD

Ratan Tata was an extraordinary leader who encouraged others to push boundaries, said Tata Steel CEO and MD TV Narendran while condoling the demise of the industry veteran. "Tata guided Tata Steel through some very challenging and transformative times. He was a mentor to countless individuals, inspiring us with his unwavering commitment to the betterment of humanity," Narendran said. He was an extraordinary leader who led with great vision and who always encouraged us to push the boundaries of our aspirations. His unparalleled contribution to industry, philanthropy, and nation-building has left an indelible mark on society, he added. Ratan Tata became thr Chairman of Tata Steel in 1993. Alok Sahay, the Secretary-General of the Indian Steel Association (ISA), said India owes its legacy in steelmaking to the Tata Group, which gave the country its first integrated steel unit in 1907 at Jamshedpur in Jharkhand. Ratan Tata made Tata Steel a global brand. His inspiring legacy will conti

Market Close Highlights, Oct 10: Sensex adds 144 pts, Nifty nears 25,000; Banking shares shine

Stock Market Close Highlights, Oct 10, 2024: Kotak Mahindra Bank, JSW Steel, HDFC Bank, Bharat Electronics, and IndusInd Bank were among the 23 constituent stocks of the Nifty50 that ended in the gree

Jamshedpur mourns Ratan Tata, who brought global recognition to backwater

The city of Jamshedpur, popularly known as 'Tatanagar', is mourning. And so is Jharkhand where a day's mourning was declared on Thursday in a mark of respect for industrialist Ratan Tata. Named after Tata Group's founding father Jamsetji Nusserwanji Tata, it was the timeless vision of Ratan Tata that propelled Jamshedpur's growth and put it on the global map. His contributions are considered significant towards shaping Jharkhand, a backward region that became a state in 2000. He first visited Jamshedpur in 1963 to look into how Tata Steel, now a global conglomerate, works. He then visited the city in 1965 to hone his pilot skills. As soon as the news of his demise spread, a pall of gloom descended on the city. Since the morning, people from different walks of life have been visiting the Tata Centre to pay their homage to the legend who died at a Mumbai hospital on Wednesday night at the age of 86. Ratan Tata, who became the chairman of Tata Steel in 1993, visited the city ...

Metal index corrects for 4th day in a row; NMDC, Tata Steel slips up to 8%

The Nifty Metal index, the top loser among sectoral indices, was down 2 per cent, as compared to the 0.35 per cent rise in the Nifty 50, at 9:53 AM.

JSW Steel, JSPL, Tata Steel shares rise 12% in a month; more steam left?

While the sentiments are turning in favour of the ferrous metal players, analysts said, the fundamentals aren't quite there yet with Q2 expected to serve as a reality check

Germany's Thyssenkrupp loses fight against EU veto of Tata Steel JV

EU competition enforcer said the deal, which had aimed to tackle over-capacity and other challenges in the steel industry, could result in price hikes

Tata Steel ends 'legacy steelmaking' at Britain's largest steelworks

Tata Steel-owned Port Talbot plant in South Wales hit a significant milestone on Monday when its Blast Furnace 4 ceased operations after over 100 years, marking an end of "legacy" steelmaking as the UK's largest steelworks transitions towards greener steelmaking. Steelmaking at the site is now set to resume in 2027-2028 as part of a British government-backed investment programme of around GBP 1.25 billion in Electric Arc Furnace-based steelmaking, using UK-sourced scrap steel. The Mumbai-headquartered steel giant said it is looking ahead to a brighter, greener future for the historic site and sustaining more than 5,000 jobs. "I am deeply conscious how difficult today is for everyone associated with our business. Throughout this transition, we are doing everything possible to minimise the impact on all those who are affected by the changes we are making, Rajesh Nair, CEO of Tata Steel UK, said in a statement. Today marks a significant event in the history of iron and steelmaking in

Metals stocks glint in trade; Nifty Metal up over 1% on China stimulus

Metal stock surged after China lowered the mortgage rate. At around 9:28 AM, Nifty Metal was up 1.23 per cent at 10,188.3

Tata Steel commissions blast furnace, boosts Kalinganagar capacity

With the current expansion, Tata Steel's capacity across sites in Odisha is at 14.6 mt. In Jharkhand, Tata Steel's capacity is at 12 mt, of which Jamshedpur Works is at 11 mt

Tata Steel's Kalinganagar expansion to make Odisha top investment site

Tata Steel on Monday said Odisha would emerge as the company's single-largest investment destination after the phase-II expansion of its Kalinganagar plant from 3 million tonnes per annum to 8 mtpa. The steel major has invested Rs 27,000 in phase-II of the Kalinganagar plant expansion, and the company is on the verge of commissioning its expanded capacity at the unit, it said in a release. The ongoing expansion in Kalinganagar will play an important role in Tata Steel's ambition to achieve its target of 40 mtpa capacity in India by 2030, the company said. The phase-II expansion of Tata Steel's Kalinganagar plant in Jajpur district of Odisha... will also catapult the eastern state to an enviable position of becoming the single-largest investment destination for the country's oldest steel maker, the release said. Along with the Tata Steel Meramandali (formerly Bhushan Steel Ltd) plant in Dhenkanal district, the company's total investment in Odisha stands at over Rs 100,000 crore. Ev

UK govt can reclaim GBP 500 mn funding if Tata Steel fails on commitments

Tata Steel signed a GBP 500 million grant funding pact with the UK government to advance the installation of a low-carbon electric arc furnace at Port Talbot

Tata Steel signs GBP 500 mn grant funding pact with UK govt; stock up 3%

The upward move in Tata Steel shares came after the company signed a £500 million grant funding pact with the UK government for a £1.25 billion green steel project in Port Talbot. =

UK clears decks for GBP 500 mn grant for Tata Steel's Port Talbot project

This is part of the 1.25 billion pound green steel project in Port Talbot, of which Tata Steel's investment is to the tune of 750 million pounds