Tata Steel

Tata Steel India reported a record operational performance in the last financial year despite a challenging environment, according to the company's CEO & MD T V Narendran. The company produced 19.87 Million Tonnes (MT) of steel in the last fiscal as against 19.06 MT in 2021-22. During the same period, sales were higher at 18.87 MT compared to 18.27 MT in the year-ago period. "Tata Steel India reported a record-breaking operational performance in FY23 despite a challenging environment," Narendran said in a statement on Thursday. "Our strong marketing network and agile business model enabled us to grow across segments," he added. During January-March period, Tata Steel India's production increased to 5.15 MT from 4.90 MT in the year-ago period.

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Tata Steel India's production increased to 5.15 MT during the said quarter from 4.90 MT in January-March 2021-22 and tts sales rose marginally to 5.15 MT from 5.12 MT a year ago

Tata Group's trading and distribution arm Tata International on Tuesday announced the appointment of Rajeev Singhal as its Chief Operating Officer. He assumed office from April 1, 2023 and will report to Tata International Ltd Managing Director Anand Sen, the company said in a statement. All vertical heads will report to Singhal, who moved from Tata Steel to Tata International and has experience of over 35 years, it added. Prior to his latest role, he was Vice President of Marketing and Sales for Flat Products at Tata Steel. "I believe that his strategic insights and operational expertise will be invaluable as we continue to drive growth and expand our presence. I am confident that under his leadership, Tata International will scale to greater heights in all aspects of the business," Sen said.

TCIL's current capacity is 415,000 tonnes; first phase of expansion, which involves an investment of Rs 2,000 crore, would add another 300,000 tonnes

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Spot steel prices have been rising both globally and at home since December; a hike of over 12% in the domestic market would have been the basis of negotiations for the upcoming contracts

The order placed by the Railways is for the supply of seats and interior panels for Vande Bharat trains and "not to manufacture its coaches", a Tata Steel official has clarified. As part of the Rs 225 crore order, Tata Steel will supply light-weight seats for 23 coaches of Vande Bharat rails and fibre-reinforced polymer composites-based interior panels for 16 coaches of the high-speed train, Debashish Bhattacharjee, Vice President (VP) - Technology & New Materials Business of Tata Steel, told PTI. Some sections of the media have reported that Tata Steel has bagged orders for manufacturing coaches of Vande Bharat trains, which is "incorrect and baseless. We have not received the order to manufacture its coaches," he said. "Tata Steel has bagged the seats and interior panels order through a competitive bidding process executed by the national transporter (the Railways). We appeared as L1 for the prestigious order," he said, adding that the value of the order is Rs 225 crore. The ...

The government is planning to introduce the second edition of the PLI scheme for specialty steel to boost production of value-added steel in the country, Union Minister of Steel Jyortiraditya Scindia said on Friday. The minister was speaking at the PLI Scheme for Specialty Steel MoU signing event in the national capital. It was attended by the companies selected to invest under the Rs 6,322-crore scheme. "Today is an important day in the history and future of the steel industry. PLI 1.0 is not a full stop, it is the beginning of the journey. Our ministry is already looking at PLI 2.0," he informed the participants of the first edition of PLI for specialty steel. The minister further asked the industry stakeholders to share their suggestions and feedback so the next PLI Scheme for specialty steel can be prepared at the earliest. As many as 27 steel companies signed 57 memorandum of agreements (MoUs) with the Ministry of Steel at the event to produce coated/plated steel products, hig

The Ministry of Railways has signed an agreement with Tata Steel for providing seating system, panelling for 22 Vande Bharat trains as one of its vendors

The Tata Founders Day is celebrated on the birth anniversary of Jamsetji Nusserwanji Tata, who founded the Tata group

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Tata Steel successfully completed the first multi-modal shipment of 960 tonnes of TMT bars from West Bengal's Haldia Port to Tripura's Agartala, the company said on Thursday. The entire transportation from flag-off to receiving material at the distributor's warehouse in Agartala was completed in 17 days, it said. "The possibility of using this route to service additional, smaller-lot regions along the river is also worth exploring. The Indo-Bangladesh Protocol route is more economical as well as environmentally more responsible, Tata Steel Chief Group Shipping, Ranjan Sinha, said in a statement. Earlier in 2022, the company had successfully shipped 1,800 tonnes of finished steel products from Haldia Port in West Bengal to Pandu Port in Assam using the IBP route via the Brahmaputra river, it added.

Tata Steel and Central Building Research Institute (CBRI), a constituent of the Council of Scientific and Industrial Research (CSIR), signed an MoU to collaborate on research, academic growth, and sustainable solutions in mining. The MoU was signed by D B Sundara Ramam, vice president Raw Materials, Tata Steel, and Prof. R. Pradeep Kumar, director CBRI, here on Tuesday, a company press release said. Under the agreement, CBRI will provide scientific inputs to Tata Steel on slope stability analysis and control measures in mining areas and affordable and sustainable green housing technologies for the rehabilitation and resettlement of families in mining areas. The partnership will also include technical training and workshops on geotechnical understanding and other scientific areas related to mining, the release said. Speaking on the development, Sundara Ramam said, "The collaboration with CBRI is a significant step towards our commitment to sustainable mining practices. We are excite

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The merger of 7 subsidiary companies with Tata Steel is expected to be completed in 2023-24 fiscal year, its CEO and managing director T V Narendran said. In September 2022, Tata Steel board had approved a proposal to merge six of its subsidiaries into itself for greater synergies, higher efficiency and reduce costs. "We had already announced (merger of) 6 companies earlier. (Merger of) one more Angul Energy we announced recently," he told PTI in reply to a question on the timeline for the merger. However, the completion of the merger depends on the regulatory processes including NCLT clearances, post which the process is expected to be completed in the next financial year, the CEO said. "We are dependent on the speed at which we can go through our regulatory requirements," he added. Besides Angul Energy, the six subsidiaries to be merged with Tata Steel are Tata Steel Long Products (TSPL), The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, and Tata .

"Fundamentally, we believe that having fewer sites with larger capacity potential per site is better and more efficient"

The disappointing performance during the quarter was on the back of a sharp drop in realisations in Europe coupled with a non-cash deferred tax expense on account of British Steel Pension Scheme.