Tata Steel said that the crude steel production of its India business increased by 4.3 per cent to 4.80 million tonnes in Q3 FY22 from 4.60 million tonnes in Q3 FY21. Delivery volumes of Tata Steel India fell by 5.2 per cent YoY to 4.41 million tonnes in the third quarter. During Q3 FY22, crude […]
Tata Steel will focus on augmenting iron ore production from 30 million tonne per annum (mtpa) to 45 mtpa in the next five years, a company official said. The total iron ore production from the steelmakers’ captive mines in Noamundi in Jharkhand and in Katamati, Joda and Khondbond blocks in Odisha, is about 30 mtpa. […]
Driven by the market dynamics, steel prices in the country have risen but are still competitive as compared to prices of the metal in the international markets, a steel ministry official said during a CII meet. Steelmakers in the country have reportedly raised prices of benchmark hot-rolled coil by up to Rs 3,500 a tonne […]
Tata Steel reported a 7 per cent rise in consolidated steel output to 7.78 million tonnes (MT) for the July-September period this ongoing fiscal, FY 2021-22. The company’s consolidated steel production was 7.25 million tonnes in the same period last year, Tata Steel said in a statement. Tata Steel’s consolidated sales during the quarter under […]
Tata Steel has planned a capital expenditure of Rs 3,000 crore for its European operations as its focus is to make the business “stronger”, the company’s CEO and Managing Director T V Narendran said, while responding to a question related to the company’s strategy with respect to the Europe business, which Tata Steel could not sell […]
Tata Steel posted a consolidated net profit of Rs 9,768.34 crore for June quarter 2021-22. In the year-ago period, the company incurred a net loss of Rs 4,648.13 crore, Tata Steel said in a BSE filing. Total income soared to Rs 53,534.04 crore during the quarter under review from Rs 25,662.43 crore a year ago. […]
India’s coal import rose 20.4 per cent to 19.92 million tonnes (MT) in the month of May 2021. The country had imported 16.54 MT of coal in May last fiscal, according to data compiled by mjunction Services. “On a year-on-year basis, however, India’s coal and coke imports in May 2021 were up 20.4 per cent […]
Jindal Steel and Power Limited (JSPL) will invest over Rs 1 lakh crore in Odisha to create employment opportunities in the state, its Chairman Naveen Jindal has said. The industrialist said this responding to a meeting chaired by Odisha Chief Minister Naveen Patnaik last week in which five major industrial projects worth Rs 1,46,172 crore […]
Most metal and mining stocks have seen sharp gains in the first half of 2021, supported by augmented demand globally amid constrained supply in the wake of the COVID-19 pandemic. Economic activities were severely impacted globally when the COVID-19 pandemic led to the lockdown phase, but after the lockdowns were lifted and central banks of […]
The National Company Law Tribunal (NCLT) has approved the resolution plan for acquisition of ferro alloys and stainless steelmanufacturer Rohit Ferro-Tech’s (RFTL) by a subsidiary of Tata Steel, Tata Steel Mining. This is yet another acquisition for Tata Steel through a wholly owned subsidiary, under the Insolvency and Bankruptcy Code. The Committee of Creditors (CoC) of Rohit-Ferro Tech Ltd has declared Tata […]
