Explore Business Standard
Don’t miss the latest developments in business and finance.
Jharkhand Chief Minister Hemant Soren on Monday performed the groundbreaking rituals for Tata Group firm Tinplate Company of India Ltd's (TCIL) Rs 2,000-crore expansion project in Jamshedpur. Addressing the programme, Soren said that after the state industrial policy was unveiled two years ago, several investors have shown keen interest to invest in the state, and the TCIL project is one such. The expansion project will create about 1,000 new jobs directly, and over 5,000 indirectly, he said. Lauding the Tata Group's contribution to the development of Jharkhand, Soren said a cancer hospital of the conglomerate in Ranchi was ready for inauguration. The Tata Group has also proposed to set up a hotel in Jamshedpur, he said. Soren said Jharkhand has an abundance of mineral resources, and it also has enough potential for tourism. "We want more industries in the state as it would improve the standard of living of the people," he said. Tata Steel CEO and MD TV Narendran said the expans
Tata Coffee on Tuesday reported a 44.71 per cent decline in consolidated net profit during the December quarter at Rs 38.40 crore. The consolidated net profit of Tata Coffee Ltd (TCL) stood at Rs 69.46 crore in the year-ago period, it said in a regulatory filing. Consolidated total income for the quarter witnessed a 19.13 per cent growth during the October-December period at Rs 754.76 crore as compared to Rs 633.52 crore in the corresponding period previous year, driven by higher realisations in Eight O' Clock Coffee (EOC) and instant coffee businesses of the company. The company, a subsidiary of Tata Consumer Products formerly known as Tata Global Beverages, stated that the improved price realisations driven by superior product mix in instant coffee business both in India and Vietnam has aided the company's quarter performance. The operating performance of EOC business was impacted during the quarter under review by higher input and other costs, which are expected to ease over com