Shares of Reliance Industries, Oil and Natural Gas Corporation (ONGC), Tata Steel, Bank of India and Reliance Communications are among 258 stocks that hit 52-week low on the BSE (Bombay Stock Exchange) in intra-day trade today.
The mines Bill passed by the Rajya Sabha on Friday will push up the cost of production of Tata Steel, Steel Authority of India and Hindalco Industries as they pay to set up district mineral foundations.
With imports set to hit a record high in the current fiscal, steel-makers today urged the government to bring the provisioned customs duty hike in the Budget into effect immediately to bail them out of the deepening crisis.
As the state government is struggling to arrange resources for its unscheduled announcement of subsidised meal scheme Aahaar, it has sought financial assistance from corporates to implement the scheme.
Shares of one of the world's pioneering steel companies, Tata Steel have gained over 1% to Rs 380 on the BSE in an otherwise subdued market after it won a major contract to supply more than 57 kilometres of rail for London’s Crossrail project.
Shares of Tata Steel have inched higher by over 1% to Rs 369 on the BSE after the company decided to acquire three service centres in Sweden, Finland and Norway from rival SSAB to strengthen its offering to manufacturers in the Nordic region.
Has the time come for India Inc to retune its globalisation drum? Eight of the world's biggest economies with the exception of the United States and India are either in recession or face the prospects of slower economic growth in coming years.
Tata Steel has reported a lower-than-expected consolidated net profit of Rs 157 crore for the December quarter, a fall of 69 per cent compared to the year-ago period. Net sales took a hit due to weak domestic demand and surge in low-priced steel imports.
Tata Steel Ltd posted a 69 percent drop in quarterly net profit as a raw material crunch curtailed domestic production and a flood of cheaper imports hurt margins at both its European and Indian operations.