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Tag: Tata Steel

  • From Infosys to Tata Steel: Here are prime shares to look at on April 13

    Stocks to look at: The topline fairness indices on the BSE and National Stock Exchange (NSE) fell for the second consecutive day and ended over 0.5 per cent decrease on Tuesday. The S&P BSE Sensex fell 388.20 factors (0.66 per cent) to finish at 58,576.37 whereas the Nifty 50 declined 144.65 factors (0.82 per cent) to settle at 17,530.30.

    Here are the important thing shares to look at on Wednesday, April 13, 2022:

    Infosys

    IT main Infosys will announce its fourth-quarter (This fall) earnings of economic yr 2021-22 (FY22) on Wednesday.

    Hathway Cable

    Hathway Cable & Datacom on Tuesday reported a 60.6 per cent decline in its consolidated internet revenue to Rs 28.42 crore for the quarter ended March 2022.

    The firm had posted a internet revenue of Rs 72.14 crore within the January-March interval a yr in the past, Hathway Cable & Datacom mentioned in a BSE submitting.

    Future Enterprises

    Future Enterprises (FEL) on Tuesday mentioned it has defaulted on fee of Rs 9.10 crore curiosity on non-convertible debentures. The fee was due on April 11.

    FEL has defaulted curiosity for the interval between October 11, 2021, to April 10, 2022, a regulatory submitting from the Future group agency mentioned in an trade submitting.

    The gross principal quantity on which the default has occurred is Rs 180 crore.

    Tata Steel

    Tata Steel on Tuesday mentioned that it has accomplished the acquisition of total stake held by state-owned SAIL in S&T Mining.

    The acquisition is a part of Tata Steel Group portfolio restructuring and simplification technique.

    Tata Steel had lately mentioned that it has executed a share buy pact with Steel Authority of India Limited (SAIL) for buying the latter’s total 50 per cent stake in S&T Mining Co Ltd.

    On completion of the acquisition, S&T Mining has change into a wholly-owned subsidiary of Tata Steel. “…the company has yesterday, i.e. April 11, 2022, completed the acquisition of the entire equity stake held by SAIL in S&T Mining,” Tata Steel mentioned in a submitting to BSE.

    -with PTI enter

  • Sensex falls 483 factors, Nifty ends beneath 17,700-mark weighed by IT, monetary shares

    The benchmark fairness indices on the BSE and National Stock Exchange (NSE) ended over 0.5 per cent decrease on Monday weighed by data know-how (IT) and monetary shares forward of the result of Tata Consultancy Services’ (TCS) This fall earnings.

    The S&P BSE Sensex fell 482.61 factors (0.81 per cent) to settle at 58,964.57 whereas the Nifty 50 ended at 17,674.95, down 109.40 factors (0.62 per cent). Both the indices had opened on a damaging observe earlier within the day and traded within the purple all through the session.

    On the Sensex pack, HCL Technologies, Larsen & Toubro (L&T), Infosys, Wipro, Asian Paints, Hosuing Development Finance Corporation (HDFC), HDFC Bank, Axis Bank and Dr. Reddy’s Laboratories have been the highest laggards on Monday whereas ICICI Bank, NTPC, Tata Consultancy Services (TCS), UltraTech Cement, Nestle India and Maruti Suzuki India have been the highest gainers.

    The broader market indices nonetheless outperformed their benchmark friends and ended larger on Monday. The S&P BSE MidCap index rose 103.76 factors (0.41 per cent) to finish at 25,407.15. JSW Energy, Oberoi Realty, Crisil and Adani Power have been the highest gainers among the many midcaps. Likewise, the S&P BSE SmallCap too climbed 114.28 factors (0.38 per cent) to settle at 29,880.07.

    “The market is wary ahead of the ECB meeting, the release of US inflation data, and the start of the domestic Q4 result season. Indian IT sector dragged due to weak result expectations on a QoQ basis. In this shortened week, the market is cautious as trading at the upper side of the trend and momentum has shifted from broad to stock-specific,” stated Vinod Nair, Head of Research at Geojit Financial Services.

    Global market

    Global inventory markets and Wall Street futures sank Monday after the Federal Reserve indicated it’d increase rates of interest extra aggressively to chill US inflation and President Emmanuel Macron emerged from the primary spherical of France’s election going through a problem from the far proper.

    London and Frankfurt opened decrease. Shanghai, Tokyo and Hong Kong retreated. Oil fell greater than USD 2 per barrel on concern world financial progress would possibly weaken.

    -global market enter from AP

  • Tata Steel Q3 internet up 139% on rising demand

    Tata Steel on Friday posted a 139 per cent leap in consolidated internet revenue at Rs 9,598 crore for the quarter ended December 2021, in opposition to a internet revenue of Rs 4,011 crore a 12 months in the past.
    Revenue from operations rose 45 per cent to Rs 60,783 crore for the interval below assessment, in comparison with Rs 41,935 crore within the year-ago interval.
    Sequentially, revenues have been broadly steady as enchancment in internet realisations greater than offset drop in volumes.
    T V Narendran, CEO-MD, stated, “India steel demand has begun to improve on the back of continued economic recovery as 3rd wave of COVID begins to ebb.”

  • Govt approves Tata Steel’s bid to accumulate 93.71% fairness in Neelachal Ispat

    The authorities on Monday accredited the very best bid of Tata Steel Long Products Limited for buying 93.71 per cent fairness in Neelachal Ispat Nigam Ltd (NINL), held by three way partnership companions of 4 CPSEs and two Odisha authorities corporations, at an enterprise worth of Rs 12,100 crore. NINL has an built-in metal plant with a capability of 1.1 MT, at Kalinganagar, Odisha.
    The Central authorities doesn’t maintain any stake in NINL immediately, which has collected losses and a detrimental web price. NINL is a three way partnership of 4 CPSEs, — MMTC, NMDC, BHEL, MECON — and a couple of Odisha government-owned corporations OMC and IPICOL.

    An various mechanism, comprising Transport minister Nitin Gadkari, Finance Minister Nirmala Sitharaman, and Commerce & Industry Minister Piyush Goyal, has accredited the bid, Union finance ministry mentioned in a press release. The firm has been operating in large losses and its plant is closed since April 2020.
    “The company has huge debt and liabilities exceeding Rs. 6,600 crores as on 31.3.2021, including overdues of promoters (Rs 4,116 crore), banks (Rs 1,741 crore), other creditors and employees. The company has negative net worth of Rs 3,487 crore and accumulated losses of Rs 4,228 crore as of 31.3.2021,” the federal government mentioned.

    Tata Steel Long Products was chosen as the very best bidder, defeating JSW Steel and a consortium of Jindal Steel & Power Limited and Nalwa Steel and Power Ltd. The reserve value for the bid was accredited at at Rs 5616.97 crore. The cash increase via stake sale will go in the direction of funding firm liabilities and to the promoting shareholders. This is second giant privatisation deal put up sale of Air India to Tata Group.
    “This is the first instance of privatisation of a public sector steel manufacturing enterprise in India. The success of the transaction is a win-win situation for all. The biggest advantage of privatisation will be to the local economy of the region as the strategic buyer will be able to revive a closed plant, bring in modern technology, best managerial practices and make infusion of fresh capital, which will help in augmenting the capacity of the plant,” the federal government mentioned.

    On the request of the Boards of promoting shareholder PSEs and on concurrence by Odisha authorities, the Cabinet Committee on Economic Affairs had given ‘in-principle’ approval to strategic disinvestment of NINL in January 2020, the federal government mentioned. The Department of Disinvestment & Public Asset Management mentioned the transaction was made via an open-market, aggressive bidding course of.
    The authorities will problem Letter of Intent to Tata Steel Long Products, and thereafter signal a share buy settlement. At this stage, 10 per cent of the bid quantity shall be paid by the profitable bidder into the escrow account. The authorities had offered entry to digital information room of the corporate to the bidders for conducting due diligence.

  • Soren launches 2021 industrial coverage: We’re attempting to leverage Jharkhand’s infinite sources

    The two-day Investor Summit held by the Jharkhand authorities right here noticed a proposed funding of over Rs 9,000 crore within the state, with the launch of the Jharkhand Industrial and Investment Promotion Policy (JIIPP) 2021.
    Companies which have been already energetic within the state, resembling Tata Steel, Dalmia Group, Steel Authority Limited of India (SAIL), Adhunik Power and Prem Rubber Works, have given in writing their proposed funding within the coming three-four years.
    As per paperwork despatched by the Chief Minister’s Office, Dalmia Group signed an MoU of Rs 500 crore to develop their cement plant and the proposed graduation of manufacturing might be March 2023.
    The paperwork acknowledged that Tata Steel has “expressed their intent” to speculate Rs 3,000 crore over subsequent three years with “expansion of capacities”’ of coal and iron ore mines and “downstream” worth added metal portfolio.
    SAIL, too, has expressed intent to speculate Rs 4,000 crore in Gua Mines in West Singhbhum district for over a interval of three years, as per the doc. IT will improve Gua mines from 4 MT capability to 10 MT capability and set up a pallet plant of 4 MT capability. As per the press launch issued by the state authorities, Adhunik Power will make investments Rs 1,900 crore and one other firm Prem Rubber Works will even make investments Rs 50 crore.

    At the launch of the JIIPP 2021, Chief Minister Hemant Soren stated, “The state government wants to move forward with the cooperation of the investors. We are trying to leverage the infinite resources which nature has gifted Jharkhand and walk the path of development. The government has stepped up and we will not stop here. From the very beginning, the state government has been deliberating upon how to generate employment in Jharkhand. Our focus largely revolved around industries based on mines and minerals … but we are now also working in the field of tourism, education, renewable energy, food processing, automobile, pharma and textile.”
    He added that in renewable vitality, the state is arising with a “big project” and planning to determine India’s “largest floating solar plant”, and emphasised that Jharkhand additionally has potential in tourism, pharma, instructional institutes amongst others.
    Soren stated these investments within the coming months will result in round 20,000 direct and round 1.5 lakh oblique employment. “All potential investors who would commit to engage 35 per cent of their workforce from scheduled tribe/scheduled caste communities will be incentivised over and above the existing provisions of the new JIIPP 2021.” he added.

    During the occasion, Jharkhand Chief Secretary Sukhdev Singh stated, “Our human capital is very healthy and very law-abiding. You will never have to face labour unrest in Jharkhand. We have a very good law and order situation. You will never hear of any organised extortion gang. Even Naxalism has shrunk to a few remote pockets of Jharkhand and it is likely to be eliminated from the geography of Jharkhand in a couple of months. Jharkhand invites you, invites you with open arms.” He added that seven bureaucrats travelled to Delhi from Ranchi to “solicit and woo” traders.
    “It’s a beautiful state with a beautiful landscape. It is a state with a vast range of flora and fauna. Thirty per cent of our land is covered with forest, with such vast production of minor forest produce that it is a paradise for anyone interested in the agro-food processing industry,” the Chief Secretary additional stated.
    Jharkhand Industries Secretary Pooja Singhal stated the state has ready a Single Window Clearance Policy in numerous sectors to ask traders. She stated the state authorities has a “land bank of 1,000 acres” for establishing industries, and threw mild on numerous features associated to why traders ought to spend money on Jharkhand. She additionally talked concerning the JIIPP 2021, ethanol coverage, street connectivity, electrical automobile coverage, Adityapur Cluster by a presentation.

  • Tata Steel’s June quarter crude metal output jumps over 43% on-year; gross sales up 35%

    Steel main Tata Steel has posted an over 43 per cent bounce in its consolidated crude metal output at 7.94 million tonne (MT) throughout the quarter ended June 30, 2021.
    The firm’s consolidated output of metal within the year-ago quarter was at 5.53 MT, Tata Steel stated in a press release launched on Sunday.
    During the April-June interval of 2021-22 fiscal, the corporate’s consolidated gross sales additionally rose to 7.14 MT, from 5.33 MT in the identical quarter a 12 months in the past, an increase of 35 per cent.

    In India, the corporate produced 4.62 MT metal, 55 per cent greater in comparison with 2.99 MT in April-June quarter of monetary 12 months 2020-21, which was impacted as a result of COVID-19 pandemic and the stringent nationwide lockdown.
    Tata Steel India deliveries elevated by 42 per cent to 4.15 MT from 2.93 MT a 12 months in the past.

    In the quarter underneath evaluate, Tata Steel Europe’s metal manufacturing grew by 27 per cent to 2.73 MT, in comparison with 2.15 MT within the year-ago quarter. While the deliveries elevated by 19 per cent to 2.36 MT from 1.98 MT a 12 months in the past.
    Tata Steel Southeast Asia’s manufacturing grew to 0.59 MT, up 49 per cent from 0.39 MT in April-June a 12 months in the past. The deliveries in Southeast Asia additionally elevated by 50 per cent 0.63 MT from 0.42 a 12 months in the past.

  • Thanks to Tata Steel, a dump yard is now a park on Marine Drive

    Tata Steel, which transformed a municipal dump yard on Marine Drive right into a sprawling park supreme for internet hosting picnics, inaugurated its ode to sustainability on Sunday.

    Spread over 5 acres, Dalma View Point is adjoining to the XLRI campus and is testimony to the metal main’s efforts at enhancing inexperienced cowl in and round Jamshedpur. 

    The park was inaugurated by Chanakya Chaudhary, vice chairman (Corporate Services), Tata Steel, together with R Ravi Prasad, president Tata Workers` Union, amidst a small gathering.

    Chaudhary stated Dalma View Point was one more initiative to reiterate Tata Steel`s dedication to sustainability. “The clean and green environment is not only adding to the beauty of the area but is also helping conserve biodiversity and helping in sustainable development,” he stated.

    Prasad congratulated the company providers staff for reworking the municipal strong waste dump right into a lush inexperienced picnic space and stated that it was web site to spend time with household and mates amid nature.

    Earlier, the location was a strong waste landfill space with restricted vegetative progress. It was transformed to a inexperienced park by layering the dump with soil and plantation of a wide range of bushes to stabilise the slopes and forestall soil erosion.

    Planting of greater than 1,000 vegetation, 28,000 creepers, 5,000 shrubs and 13,000 sq metre of grass have enhanced the inexperienced cover within the space. 

    The slopes of the dump have been stabilised by planting Wadelia Trilobata, a species recognized for its in depth root system. These species assist in attracting numerous species of butterflies, primarily Zizeeria karandra and Eurema hecabe.

    A pond has been developed contained in the picnic space to utilize the run-off water and likewise improve aesthetics. The pond is supplied with a fountain to keep up the dissolved oxygen degree and enhance the standard of water.

  • Over a dozen shops gutted in Sakchi market fire

    Over a dozen shops were completely gutted due to a fire that broke out at the Sakchi commercial hub on the wee hours of Sunday. The fire was allegedly caused by a bonfire, past midnight at around 12:15 am.

    It took seven fire tenders from both Tata Steel and the state fire department over six hours to bring the fire under control.

    The seamlessly packed shops in the congested Shiv Mandir Line were saved from severe damages due to the prompt action taken by the fire department.

    District fire service officials reached the spot within 25 minutes of being informed. “Sakchi police informed us about the fire around 12.20 am. We immediately sent off four fire tenders from our department and two from Tata Steel and one from Tata Motors to the spot. The fire was finally brought under control around 7 am,” said Ravinder Thakur, duty officer at the fire station in Golmuri.

    According to eyewitnesses, the fire started at a cloth store and spread to other shops, including a general store, a grocery store, a musical instrument shop, and a couple of tailoring shops. According to shopkeepers, the loss caused by the fire could add up to several lakhs.

    Shopkeeper Niranjan Singh, one of the affected businessmen of the commercial hub said, “A bonfire was lit near a shop at the Shiv Mandir Line to beat the intense cold. Unfortunately, it was not doused properly and could have caused the fire.”

    He ruled out the possibility of a suspected short-circuit.

    The affected shopkeepers who rushed to the spot on getting the news post-midnight also alleged that the lone hydrant failed to function.
    “We tried to operate the hydrant but couldn’t. Had it been alright the action of dousing the flames would have been fast,” said a shopkeeper.

  • Tata Steel excels in LGBT+ inclusion

    Global steel behemoth Tata Steel, which has its largest plant at Jamshedpur in Jharkhand, has been named a top employer for LGBT+ inclusion by India Workplace Equality Index (IWEI), the country’s first comprehensive benchmarking study to measure and enable efforts for the community’s inclusion.

    Tata Steel vice-president (designate), human resource management, Atrayee S. Sanyal, said in a media communiqué released on Thursday afternoon: “At Tata Steel we believe a diverse and inclusive environment enables employees to express themselves openly thereby adding to the perspectives and collective wisdom of the organisation. We are proud to feature amongst the IWEI 2020 top employers for LGBT+ inclusion. This recognition reaffirms our commitment to foster a culture to actively promote LGBTQ+ empowerment and build a benchmark workplace.”

    The IWEI ranking is considered the definitive list showcasing the best employers in India for lesbian, gay, bisexual and transgender employees . This is the inaugural IWEI top employers’ list, featuring 52 organisations that have been recognised as ‘bronze’, ‘silver’ or ‘gold’ depending on their final score. Organisations participating in this index make it clear that they support equality for LGBT+ people at work,” the communiqué added. Incidentally, Tata Steel rolled out a new HR policy last year that enables colleagues from the LGBTQ+ community to avail all benefits permissible under the law for their partners (people of same-sex living together) like coverage for child-care leave, newborn parent leave, medical benefits, joint house points, employee assistance programs, domestic travel policy, health check-ups, transfer and relocation benefits, honeymoon package and others.

  • Three BIT-Sindri students get Rs 10.52 lakh job offer from Tata Steel

    Three B.Tech third year students of BIT-Sindri, namely Aditi Sinha and Salique Ahmed of electrical engineering and Abhishek Paul of mechanical engineering have been lapped by Tata Steel for a package of Rs 10.52 lakh per annum.

    The selected three students were among the 170 who appeared for the online written screening held on December 8 and out of the 19 who were selected for the final round of interview held on December 11.

    Talking to The Telegraph Online on Sunday, Ghanshyam Rai, BIT-Sindri training and placement officer said, “The selection in the period of lockdown assumes significance when all tests are being conducted online and few students are getting job offers.”

    Though 40 students of our institute of the 2020-21 pass out batch have so far been selected by different recruiters but the selection of three students by Tata Steel has special significance because of the high package of more than Rs 10 lakh per annum,” added Ghanshyam.

    “Seventeen of our B.Tech students have also been selected by Tata Consultancy Service on October 18 this year out of which 14 secured Tata Ninja offer for a package of Rs 7 lakh per annum, while three others got the Tata Digital offer for a package of Rs 3.36 lakh per annum,” explained Ghanshyam.

    Divulging more details, Ghanshyam said, “Several other recruiters’ interview are still lined up for the present batch of 725 but the majority of these recruitment process like the previous one will be conducted online.

    “We are utilising the time of lockdown period for honing up the soft skills of our students and several online workshops, seminars are being organised at the behest of the training and placement cell where the top executives of different companies are providing valuable tips about personality development besides skill for facing an interview, etc.,” said Singh and added that more than 350 students of the 2019-20 batch out of total 725 had already secured jobs through campus placement while the remaining are appearing for off-campus selection.