Page 32 - Tata Steel

Today's picks: From Tata Steel to BPCL, hot stocks to watch on Thursday

For BPCL, keep a stop at Rs 372 and go short. Add to the position between Rs 365 and Rs 366

Tata Steel Q1 profit more than doubles to Rs 19.34 bn, still below estimate

Tata Steel India posted a rise of about 7.9% in total steel deliveries for the quarter

Tata Steel plans to up India revenue share to 91% from current 53%

Company looking at simplification of south-east Asia business, not divestment

Tata Steel keen to exit SE Asia operations, focus on domestic growth

The company will also continue to evaluate and pursue more growth opportunities in the country through organic and inorganic options

Insolvency proceedings: Tata Steel readying blueprint to buy Bhushan Power

Much like the Bhushan Steel deal, Tata Steel is keeping its financing arrangements ready and is sounding out people within the organisation for Bhushan Power & Steel

Tata Steel to sell iron ore to Bhushan Steel at arm's length pricing

Though Tata Steel now owns Bhushan Steel, it needs state govt's nod to supply ore from its captive mine as BSL remains a separately listed entity

Tata Steel to sell iron ore to Bhushan Steel at arm's length pricing

Khandabandh mine at present supplies ore to Tata Steel's Kalinganagar facility which is considered to be an internal captive transaction

Tata Steel to buy more iron ore from OMC after Bhushan Steel takeover

OMC sources confirmed Tata Steel was pitching for more iron ore supplies. Presently, the steel company is drawing one mtpa from OMC mines under a long-term linkage pact

Tata Steel Europe to get 45% in joint venture with ThyssenKrupp

A new agreement between the two partners represents an increase of around $695 million for ThyssenKrupp shareholders as compared with last September's deal

Tata to raise Bhushan steel stake to 75%, to acquire additional 2.5%

Tata Steel's subsidiary Bamnipal Steel had acquired 72.65 per cent stake in Bhushan Steel in May this year after the company failed to repay its Rs 560 billion in debts

Tata Steel to seek approval from shareholders for Rs 120-billion NCD issue

The board will decide on the terms of the issue, including the class of investors to whom the NCDs are to be issued, time, the number of NCDs, tranches and issue price

Crack in the welding: Tata Steel Europe, ThyssenKrupp JV hits speed bump

German firm's investors want better deal for merger

Tata Steel's Kalinganagar plant creates job for over 21,000 persons

This includes direct employment for 3611 persons and indirect (contractual) employment for 18344 persons

Tata Steel's deliveries up 10.7% in FY18 against market average of 8%

The branded portfolio contributes 46% to the steel company's total sales, touching 2.5 million customers across the country

Tata Steel's Bhushan buy to raise net leverage over next 2-3 years: Fitch

Tata Steel's acquisition of a controlling stake in debt-laden Bhushan Steel is likely to raise the former's leverage over the next two to three years, Fitch Ratings said today. The move would also offset benefits to Tata Steel's credit profile from reduced exposure to structural weaknesses in Europe and resultant increase in market share in India, said the report.The Bhushan acquisition will enable Tata to improve its domestic market share, but Fitch estimates it will raise the latter's leverage, in terms of net debt to EBITDA, to 4x over the next two to three years from around 3x at end-March 2018. Tata Steel's net debt will increase by around Rs 350 billion due to the acquisition, excluding additional working capital debt at Bhushan. "We assume additional EBITDA of around Rs 45 billion in the second year following the acquisition, based on an output of 5 million tonnes and an EBITDA per tonne of around Rs 9,000, based on Tata Steel's successfully improving operations at Bhushan to .

Tata Steel to raise Rs 165 billion debt to fund Bhushan Steel acquisition

The banks, according to industry experts, are expected to take a whopping haircut of about 30-35 per cent in the sale of BSL to an arm of Tata Steel

Tata Steel completes acquisition of controlling stake in Bhushan Steel

Tata Steel said Rs 12,000 million will be paid to operational creditors of BSL over a period of 12 months as per their admitted claims and as per the terms of the approved resolution plan

Declare Tata Steel's bid for Electrosteel 'ineligible': Renaissance Steel

Renaissance Steel is contesting Rs 53200 million resolution plan by Vedanta group for Electrosteel, which was approved by the Kolkata bench of the NCLT, before the appellate tribunal

Tata Steel reports consolidated Q4 net profit at Rs 146.88 billion

The Indian steelmaker saw an exceptional gain of 113.76 billion in the quarter

NCLT rejects plea by Bhushan Steel employees, okays Tata Steel bid

The National Company Law Tribunal (NCLT) today approved Tata Steel's bid for debt-ridden Bhushan Steel. The tribunal also dismissed a plea filed by the employees of Bhushan Steel opposing Tata Steel's bid and imposed a fine of Rs 1 lakh. The bench comprising NCLT President Justice M M Kumar and S K Mohapatra also dismissed the plea of engineering and construction major L&T seeking higher priority in recovery of loan and imposed a fine of Rs 1 lakh. L&T, which is an operational creditor of Bhushan Steel, had sought higher priority in recovery of debt in the resolution process at par with the financial creditors. The tribunal also rejected Bhushan Energy's plea to continue its power purchase agreement with Bhushan Steel. The order was pronounced in court today and detailed judgement is awaited. Earlier on April 11, the principal bench of the tribunal had reserved its order after hearing all the sides. The Committee of Creditors (CoC) had approved Rs 32,500 crore deal along with