Steel demand in Europe continues to be a concern because of the euro zone crisis. It, and operational difficulties, caused a downturn in performance of Tata Steel Europe (TSE).
Tata Steel’s March 2012 quarter performance saw positives in the form of Tata Steel Europe (TSE) regaining profitability at the operating level, after losses in the December 2011 quarter.
Tata Steel is trading lower by 2.2% at Rs 390 after reporting a 90% year-on-year (y-o-y) drop in consolidated net profit at Rs 433 crore for the fourth quarter ended March 2012, due to higher raw material cost and less demand for steel in Europe.
Private steel producer Tata Steel is hopeful of completing the first phase of its project at Kalinganagar in Odisha by the early part of the next financial year.
Private steel producer Tata Steel is hopeful of completing the first phase of its greenfield project at Kalinganagar in Odisha by the early part of the next fiscal.
Tata Steel posted a bigger-than-expected drop in its consolidated quarterly profit, as weak prices, lower volumes and high raw material costs depressed margins in its main European market.
Tata Steel has posted a dip of as much as 90% in its consolidated net profit, at Rs 433.46 crore, for the last quarter of FY12. The corresponding profit figure for the same quarter a year ago was Rs 4,175.60 crore.
Tata Steel, which is in the process of setting up a six million tonne green field steel plant at Kalinga Nagar, is sponsoring a six-day 'Cleft and Other Facial Deformities Operation Camp' from April 19 in association with US-based not-for-profit
Tata Steel plans to invest up to 800 million pound in its facilities in Wales over the next five years, the First Minister of Wales, Carwyn Jones, said in a statement, after returning from a visit to India.
Tata Steel celebrated the Odia new year day and Maha Bisuba Milan at its operational locations in Joda in Keonjhar district, Sukinda in Jajpur district and Gopalpur in Ganjam district.
This year witnessed an overall increase in production and sales while registering its best ever performance in hot metal, crude steel, saleable steel production and total sales, a company press release said.
Tata Steel has appreciated 42 per cent from its 52-week low on January 2. Analysts see improving fundamentals, both in domestic and European operations, driving the stock further up.
Tata Steel today said it has got shareholders' approval to increase its borrowing limit by 25% to Rs 50,000 crore to part-finance several ongoing expansion activities.
Tata Steel has paid the entire amount demanded by the state government for distributing compensation among the villagers who gave away their land for company’s mega steel project in Bastar.
Tata Steel is yet to pay about Rs 27 crore compensation to the villagers, who had given away their land in Bastar where the steel major was coming up with a mega steel project.
