Page 33 - Tata Steel

Insolvency: CCI okays Tata Steel's acquisition of debt-ridden Bhushan Steel

Under insolvency process, Committee of Creditors declared Tata Steel as successful resolution applicant for Bhushan Steel

Tata Steel posts lower sales, production in Q4 due to Kalinganagar incident

It's production also increased to 12.48 mt in FY18, against 11.68 mt in the previous year

Tatas in race to be lndia's largest steelmaker, to overtake JSW and SAIL

Once Bhushan Steel is into its fold, Tata Steel will increase its capacity from 12.7 million tonnes per annum (mtpa) to 18.3 mtpa

Tata Steel to invest Rs 15 bn on Gopalpur SEZ infrastructure

Twenty investors how interest to set up units in the industrial park

Insolvency resolution: Tata Steel all set to buy stressed Bhushan Steel

This would be one of the biggest debt resolutions for banks as Bhushan Steel's debt stood at Rs 499 billion in 2016-17

Tata Steel to speed up acquisition of Subarnarkeha port in North Odisha

After recent execution of land lease deal with port authorities, 693 acres is being transferred by Odisha govt for phase-1 development of port

Steel stocks under pressure; Tata Steel, JSPL, SAIL down 4%

Nifty Metal index, the largest loser among sectoral indices, was down 1.5% against 0.1% rise in the Nifty 50 index at 02:45 pm

Tata Steel to gain from Odisha move to raise area limit for iron ore mines

The Odisha government has recommended to the Centre to shift the bar on the area to be held by an iron ore mine lessee from 10 sq km to 75 sq km, a move which is expected to benefit the steel giant Tata Steel in the upcoming auction of iron ore blocks in the state.Odisha is currently readying to auction two more iron ore mines Chandiposhi and Purheibahal in April, this year. The state had earlier auctioned three iron ore blocks. All these were meant for end user industries."Among the participants in the previous auctions, Tata Steel was the only bidder that impugned the area limit clause mentioned in the auction rules as the lease area already held by the company well exceeded the 10 sq km limit", said a government official. Tata Steel, at present, has six iron ore/manganese (an associated mineral) leases in the state with combined lease area of about 50 sq km.Quoting section 6 of MMDR Act, the auction rules said, "The State Government may not be able to issue the letter of intent ...

Tata Steel's Kalinganagar ore secured with nod to ramp up Khandabandh mine

Development is critical with capacity at Kalinganagar project being hiked to 8 mtpa from 3 mtpa now

Tata Steel is seeking UK funds for Wales plant, says report

The Indian steel giant is believed to have informally requested financial support from the government to upgrade its Continuous Annealing Process Line

Tata Steel forays into scrap business, to set up process unit in Gurgaon

Tata Steel plans to set up a scrap processing facility near Gurgaon by the year end that will cater to a part of the company's raw material need for steel making.The unit is expected to grow into a Rs 1000 crore business in 6 to 8 years and mostly process the off-road cars, other vehicles and retired white goods in the NCR to produce scrap."Given the limitation of using scrap for steel making in the blast furnace route, 7-10% of our blast furnace charge can be scrap or scrap equivalent," said Anand Sen, President, TQM & Steel Business, Tata Steel.Sen said, as the economy grows, the scrap inventory is going up. More than 100 million cars are sold every year world-wide. After sometime, these are retired. China has been producing more than 500 million tonne of steel per annum for last 10 years. At least 50 per cent of that comes back as scrap in a span of 8 to 10 years."Scrap so far has been an unorganised sector, with no control over quality, run by middlemen. We see an opportunity .

Tata Steel surges 5% on strong Q3 results

The stock up 5% to Rs 718 on BSE in noon deal, extending its Friday's nearly 2% gain after the company reported nearly five-fold jump in a consolidated net profit of Rs 11.35 billion in Q3FY18.

Tata Steel to begin ground work on Kalinganagar expansion in April

Tata Steel hopes the Kalinganagar plant with its diversified and enriched product mix to fetch better margins and be more cost-effective than the Jamshedpur facility

Tata Steel trades ex-rights, pares gains after hitting 52-week high

The stock hit a 52-week high of Rs 747, up 2% on BSE in early morning trade in otherwise subdued market.

Tata Steel raises $1.3 bn via bonds to refinance offshore obligations

Tata Steel, the country's oldest steel maker, today said it has raised $1.3 billion by issuance of unsecured bonds in the international markets.The issue comprises $300 million at 4.45 percent Unsecured Bonds due on July 24, 2023 and $1 billion at 5.45 percent Unsecured Bonds due on January 24, 2028 by Abja Investment Co Pte Ltd, a wholly owned subsidiary of Tata Steel based in Singapore. The bonds are rated BB- by S&P and will be listed on the Singapore Exchange (SGX), said Tata Steel in its release."Based on the buoyant trading performance of the existing bonds and strong credit appetite from quality investors, the company launched an innovative bond structure. The success of the issue demonstrates the investor's confidence in the long term strategy of the company and we are very happy with the quality of the investors in the issue," the release quoted Koushik Chatterjee, executive director and chief financial officer as saying. Road shows were organized simultaneously in ...

Tata Steel's Q3 saleable steel output dips 1.2% to 3.24 MT

The third quarter production figure of the current fiscal is provisional

Tata Steel to firm up iron ore supplies for Kalinganagar

The expansion from 3 mtpa to 8 mtpa will cost Tata Steel Rs 23,500 crore

Tata Steel to raise Rs 12,800 cr to fuel growth strategy

The board also reviewed the financial strategy of the company in the light of organic and inorganic growth strategy of the company

Tata Steel to acquire 74% stake in Bhubaneshwar Power for Rs 255 crore

Acquisition to help firm in meeting its growing power demand

Tata Steel Kalinganagar plant on stream by Sept '14

The project, the first integrated steel plant of Tata Steel outside Jamshedpur in its over century-old history, is being set up in two modules of 3 mn tonne each