A number of key employees at Indian steel giant Tata Steel's two Scottish plants, on the verge of closure, will be retained on a 60 per cent salary as part of a new £195,000 government support package, the Scottish government announced on Saturday.
Tata Steel’s plan to sell its Europe-based long products business is a positive move. Tata Steel Europe (TSE), a subsidiary, has been struggling to keep its operations profitable in the wake of economic slowdown.
Tata Steel was trading higher by 3% to Rs 265 on the BSE in early morning trade after the company announced that Tata Steel UK has signed a Letter of Intent with Greybull Capital to sell its long products Europe business.
India will step up curbs on steel imports before the end of the year to combat a rising tide of cheap shipments and aid local producers, according to Steel Secretary Aruna Sundarajan. Shares of Tata Steel and JSW Steel rallied.
Tata Steel, the country's largest steel producing company on Wednesday said its Singapore-based arm T S Global Holdings has executed agreements for loan facilities worth $1.5 billion to refinance the debt which will be used to pay the existing term
Steelmakers all over the world are facing a crisis of low demand and very low prices, which leave either slender or no margin for producers. Let us consider the case of ArcelorMittal, the world's largest steel producer.
Terming Tata Steel's facility here a milestone in Odisha's industrial progress, Chief Minister Naveen Patnaik said investment on the project could go up to Rs 1 lakh crore by 2025."In the first phase, Rs 25,000 crore has been spent by Tata
Odisha Chief Minister Naveen Patnaik today dedicated the first phase of Tata Steel's 6 MTPA steel plant set up at an investment of Rs 25,000 crore to the nation amidst tight security as the project faced stiff opposition from locals since its inception.
Buy above Rs 235 with stop loss at Rs 226 and target Rs 252. The short term moving averages have converged and are placed with buy signals. On the oscillator front, RSI is placed with a positive signal.
Tata Steel wants to sell its plant in northern England to give it the “best chance of survival&" as the UK industry has been struggling under a flood of cheap steel being pumped in from China, which has depressed prices.
The business manufactures plates, sections, wire rod and semi-finished steel for different markets, including construction, ship-building and engineering, energy and wire drawers. These products are made at its mills in Teesside and Scunthorpe in the UK.
Shares of Tata Steel have dipped almost 4% to Rs 217 on the BSE on weak sales number in second quarter earnings. However, the company reported a consolidated net profit of Rs 1,529 crore in September quarter, up 22% from same period last year.
Tata Steel reported a consolidated net profit of Rs 1,529 crore in September quarter, up 22 per cent from same period last year. Net sales took a hit, on the back of lower expenses and higher other income.