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 […]
Leading domestic steelmakers have hiked the prices of Hot Rolled Coil (HRC) and Cold Rolled Coil (CRC) by up to Rs 4,000 and Rs 4,900 per tonne, respectively this week. After the price revision, a tonne of HRC will cost Rs 70,000-Rs 71,000 while the buyers will get CRC at Rs 83,000-Rs 84,000 per tonne. HRC and CRC are flat steel used in industries such as auto, appliances and construction. […]
Spike in iron ore export, largely to China, has started telling upon Indian steel manufacturers. Though global steel prices have been high in the first four months of this year, producers are struggling to supply as there is a huge shortage in raw material, iron ore. In the first four months (January-April), iron ore exports […]
Another good year of high demand and lucrative margin will change the fortune of Tata Steel, which has reduced nearly Rs 30,000 crore debt in 2020-21. The steelmaker, which has been struggling with its $12 billion legacy acquisition of Corus Plc in 2007, has brought down its net debt to Rs 75,389 crore from Rs […]
HSBC has successfully executed a blockchain-enabled, live trade finance transaction between the UAE’s Universal Tubes & Plastic Industries Ltd. and India’s Tata Steel Ltd. – a global first for the steel industry. The Contour blockchain platform enabled end-to-end digitisation of the documentation required for Universal Tubes to import its order of flat carbon steel to […]
