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 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.
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