Shares of Tata Steel has pulled back and surged over 6% in early trades on Friday amid short covering and value buying at lower levels after the company reported profit for its Indian operations.
Tata Steel Ltd reported a net loss of Rs 6,528.5 crore for the quarter ended March 31 against a profit of Rs 433.5 crore in the corresponding period last year.
Tata Steel Ltd today shocked its investors with the biggest ever quarterly loss by a private sector company in India. But once you get over the shock, the loss doesn’t bite as the number suggests.
After MSTC Ltd, Mjunction Services, a 50:50 joint venture between Steel Authority of India Ltd and Tata Steel, has evinced interest in offering e-auction services for sale of key bulk minerals in Odisha, such as iron ore, chrome ore and manganese.
Tata Steel has said it has decided to write down goodwill and assets worth $1.6 billion, primarily due to the weaker macroeconomic and market environment in Europe.
Tata Steel on Monday announced it would write down assets and goodwill worth $1.6 billion in FY13. Effectively, the company is saying some of its assets, primarily European, are not worth as much as they were.
A day after Tata Steel announced an impairment or non-cash write down of $1.6 billion, the company's stock was down 0.8 per cent in early trades to Rs 303. The write-off was largely due to the company's struggling European operations, where demand has
In an indication of sluggish demand abroad, Tata Steel on Monday said it was making a non-cash impairment of $1.6 billion for 2012-13. In a statement, Tata Steel said this was undertaken after considering the external economic environment and
Steel giant Tata Steel has reportedly warned the British government that it plans to shut down two research and development facilities in the country and shift them overseas including to India, resulting in 300-400 job cuts in the UK.
The company is building a six-million tonne unit at a cost of about $7 billion (Rs 38,500 crore), to primarily cater to increasing demand for its flat products from the automobile industry and tap new customers from other sectors.
In its first foreign fund-raising activity in about three years, Tata Steel has started conducting roadshows to raise $750 million in Singapore, said a company official, on condition of anonymity.
Mid size steel manufacturer, Kalyani Steels rose 15.3% to Rs 42.2 per share on Thursday after supreme court lifted the iron ore mining ban in Karnataka.
Lifeline Express, the 'Hospital on Wheels', currently being hosted by Tata Steel at Chhatrapur railway station in Ganjam district started its operations on Thursday.
Koushik Chatterjee, the group chief financial officer of Tata Steel, is likely to take over as the next managing director of the company when the current incumbent, H M Nerurkar, retires in October.
The company said that production of crude steel and saleable steel went up by 14% in FY13. The company produced 8.8 million tonne of crude steel in the given year and saleable steel production stood at 7.9 million tonne as against 6.9 million tonne in the
