Tata Steel posts Q1 profit of Rs 9,768 crore

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. […]

Read more

JSPL announces Rs 1 lakh crore plus investment in Odisha during the next 10 years

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 […]

Read more

Tata Steel Mining to acquire Rohit Ferro-Tech under NCLT

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 […]

Read more

Indian steel companies hike steel prices by up to Rs 4,900 a tonne, again

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. […]

Read more

HSBC successfully executes steel industry’s first blockchain trade finance deal between UAE and India

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 […]

Read more