|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||706.30 - 717.00|
|52-week range||377.35 - 735.00|
|PE ratio (TTM)||19.55|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Bhubaneswar, Nov 14 (IANS) Tata Steel on Tuesday said it has ramped up its capacity at its Kalinganagar greenfield plant in Odisha to 100 per cent and it is all set to go for second phase expansion shortly. "We have ramped up our production and achieved 100 per cent capacity at the three million tonne per year (mtpa) steel plant," said Rajiv Kumar, Vice President (Operation) of Tata Steel Kalinganagar Plant. He declined to comment on the proposed investment for the second phase expansion as the company's board was yet to approve the expansion.
IG Metall, Germany's largest trade union called on Thyssenkrupp's management to provide guarantees for jobs, plants and future investments in relation to a planned European steel tie-up with Tata Steel. In an information leaflet seen by Reuters, IG Metall said management had failed to address employees' concerns about their future once the joint venture goes ahead next year. Under these circumstances we cannot approve of this joint venture," IG Metall said, adding it expected management to respond to its demands by Nov. 10.
Tata Steel Ltd.’s India head T.V. Narendran has been appointed global chief executive officer and managing director as the steelmaker returns to profitability, and sets about implementing an agreement with Thyssenkrupp ...
REUTERS - Tata Steel Ltd has promoted T.V. Narendran as chief executive officer and managing director globally, the company said on Tuesday. Narendran, 52, a company veteran who joined the Tata ranks in ...
India's Tata Steel Ltd posted a Sept-quarter profit, boosted by strong volume growth following the ramp-up of its Kalinganagar plant in India. Consolidated quarterly total steel deliveries were up 15 percent ...
Tata Steel Ltd. swung to a profit in the second quarter as the Indian mill benefited from a recovery in global steel prices and an increase in volumes, although it missed analyst estimates.
The works council of Tata Steel Netherlands said on Friday it opposed preliminary plans by Tata Steel and Thyssenkrupp to combine their European steelmaking operations into a joint venture (JV) and would fight to block it if necessary. Works council chairman Frits van Wieringen said that, after viewing the two companies' memorandum of understanding, he was concerned they intend to dissolve the Dutch subsidiary, which would strip away legal protections, and then lay off workers.
Tata Steel and Thyssenkrupp have no plans to spin off their pending European steel joint venture within the next two to three years, Tata's managing director said on Monday. The two companies announced last month a preliminary agreement to merge their European steel operations, creating the continent's second-largest steelmaker after ArcelorMittal, with revenues of 15 billion euros ($18 billion). Markets widely expect the longer-term aim of the merger is an initial public offering that would give the two companies a way to exit the volatile European steel business, but Tata Steel ruled that out in the near term.
Labour leaders remain sceptical about a planned merger of Thyssenkrupp's European steel operations with those of Tata Steel, following the first meeting of a working group set up to convince workers to back the deal. Thyssenkrupp and Tata Steel last month announced plans for a joint venture that would create Europe's second-largest steelmaker after ArcelorMittal. To appease workers, whose approval is crucial to Thyssenkrupp's Chief Executive Heinrich Hiesinger, a group of board members and labour representatives was set up shortly after the announcement.
REUTERS - The NSE Nifty rose nearly 1 percent on Friday, its biggest daily gain in over seven weeks, with Tata Steel Ltd climbing on strong quarterly production numbers, as investors awaited the outcome ...
FRANKFURT/DUESSELDORF (Reuters) - North Rhine-Westphalia, Germany's most populous state and home to Thyssenkrupp, said on Wednesday it was confident a deal between workers and management could be reached to push through a steel merger with Tata Steel. Thyssenkrupp and India's Tata Steel last month agreed to merge their European steel operations to create a business with revenues of 15 billion euros ($17.6 billion), the second business steelmaker on the continent after ArcelorMittal. Armin Laschet, state premier of North Rhine Westphalia, said he did not think Supervisory Board Chairman Ulrich Lehner would have to use his casting vote to push through the deal, adding those involved were trying to "find a solution everyone can say yes to in the end".
Thyssenkrupp (TKAG.DE) will guarantee that workers will be equally represented following the planned merger of its European steel operations with Tata Steel's (TISC.NS), its chief executive told a German newspaper. "German steelworkers will keep their co-determination just the way it is today," Heinrich Hiesinger told Bild. Thyssenkrupp and India's Tata Steel last month agreed to merge their European steel operations, creating the continent's No.2 steelmaker with revenues of 15 billion euros ($17.62 billion).
FRANKFURT/DUESSELDORF (Reuters) - Thyssenkrupp raised almost 1.4 billion euros ($1.7 billion) in a share placing on Tuesday to help fund the industrial goods businesses that will stay with the firm after the planned merger of its steel operations with Tata Steel next year. "We will use that time to strengthen our industrial goods businesses right away," said Chief Executive Heinrich Hiesinger. Thyssenkrupp makes everything from car components, ships and industrial plants to elevators and submarines.
Thyssenkrupp AG is to set up a joint working group of board members and labour representatives to help implement the plan to merge with Tata Steel, it said in a statement published on Sunday after a supervisory board meeting. The meeting was held after Thyssenkrupp top management's move this week to sign a memorandum of understanding with Tata Steel for a 50-50 joint venture. The working group will consist of members of the executive boards of Thyssenkrupp AG, Thyssenkrupp Steel Europe, which is the unit for the steel activities within the wider group, representatives of Thyssenkrupp's works councils and the works councils of the steel sites, the statement said.
Thyssenkrupp Steel and Tata Steel's plans to merge in Europe could enable them not just to cut costs but also raise prices, customers and shareholders say. The planned joint venture, announced on Wednesday, would create Europe's second-largest steel maker, with a market share of about 13 percent, according to data from the companies and the World Steel Association. This would make the group, to be named Thyssenkrupp Tata Steel, a distant second to global leader ArcelorMittal, which has a 26 percent share.
The face of salt-to-software conglomerate Tata will change in the next 10 years as it moves forward with adopting new technologies and responds to the needs of a fast-growing nation, former chairman Ratan Tata said in a CNBC TV18 interview on Wednesday. Hinting at consolidation and possible divestments of certain businesses which once defined the group, Tata said the conglomerate may look very different in the next decade, although the 150-year-old group will always strive to retain its culture. "There will be companies who were not there earlier and companies that were there, not there 10 years from now, because they may not be relevant or they may be sold off or transferred to other companies," said Tata, who is currently chairman of the trusts that control two-thirds of holding company Tata Sons.
ESSEN, Germany/MUMBAI (Reuters) - Germany's Thyssenkrupp and India's Tata Steel agreed on Wednesday to merge their European steel operations, creating the continent's No.2 steelmaker with revenues of 15 billion euros ($18 bln). The deal, which is preliminary, will help the companies address overcapacity in Europe's steel market, which faces cheap imports, subdued construction demand and inefficient legacy plants. The transaction will not involve any cash, Tata Steel said, adding both groups would contribute debt and liabilities to achieve an equal shareholding and remain long-term investors.
Thyssenkrupp will not be liable for any future funding demands of a new pension scheme sponsored by Tata Steel in Britain, its chief financial officer said, removing a key source of uncertainty in the companies' planned joint venture. Tata Steel last month received approval to separate itself from the existing British Steel Pension Scheme (BSPS) through a deal that will cut the scheme's 15 billion pounds ($20.29 billion) in liabilities. It wants to underwrite a new pension scheme with lower benefits for members, ridding itself of several billions of pounds in retirement liabilities.
German Economy Minister Brigitte Zypries said on Wednesday that employees were not yet convinced about plans for Germany's Thyssenkrupp and India's Tata Steel to merge and added that all affected parties needed to accept any deal. Thyssenkrupp and Tata Steel struck a preliminary deal on Wednesday to merge their European steel operations in a 50-50 joint venture to create the continent's No.2 steelmaker after ArcelorMittal. "The employees are not yet convinced about this decision and they are very concerned about job losses," Zypries said in an emailed statement.
German Labour Minister Andrea Nahles said on Wednesday that a merger between Germany's Thyssenkrupp and India's Tata Steel should not happen at any cost and the headquarters needed to be in Germany if it did happen. Thyssenkrupp and Tata Steel struck a preliminary deal on Wednesday to merge their European steel operations in a 50-50 joint venture to create the continent's No.2 steelmaker after ArcelorMittal. The sites in Germany must be maintained and compulsory redundancies must be ruled out," Nahles said in an emailed statement, adding that the sites in Germany were "absolutely competitive".
Thyssenkrupp Chief Executive Heinrich Hiesinger is convinced he can win over labour representatives to back a planned merger of its European steel operations with those of Tata Steel. "I am confident that we will reach a favourable ultimate solution with the employee representatives that will also be backed by the entire Supervisory Board," Hiesinger told reporters on Wednesday after the plans were unveiled. Labour representatives hold half of the 20 seats on the group's supervisory board.
Britain and its trade unions called on Wednesday for Germany's Thyssenkrupp and India's Tata Steel to keep previous commitments to safeguard Welsh jobs when they merge their European steel operations. The fate of Tata's British businesses, including the UK's largest steelworks at Port Talbot in Wales, has been uncertain since Tata Steel said more than a year ago it planned to sell the British assets following heavy losses.