Tata Steel gains on segregating UK biz from pension scheme
Promoters held 31.35 per cent stake in the company as of June 2017.
Promoters held 31.35 per cent stake in the company as of June 2017.
The scrip rose 4 per cent to hit a high of Rs 624 on BSE.
Tata Steel is likely to report net profit of Rs 709.10 crore for the quarter ended June 30.
Hero, which has been the title sponsor for the league since its inception in 2014, will be shelling out $25 million in the next three years, announced Nita Ambani.
Tata Steel had sold 2.15 mt of steel in the same period of last year. The company also saw a 46 per cent growth in sales volume (y-o-y) in small and medium enterprises segment.
BMI Research has forecast India's steel output to clock an average annual growth of 8.9 per cent during 2017-21, higher than 2.9 per cent in 2012-16.
The firms like SAIL and Tata Steel are expected to drive the steel output growth, according to the report by BMI Research, a Fitch group company.
Tata Steel has two other Ferro-chrome plants in Odisha- a 65,000 TPA plant at Bamnipal in Keonjhar and the other at Athagarh in Cuttack of 55,000 TPA capacity under the management of its subsidiary T S Alloys.
Experts feel external factors have affected Tata scrips more than the Cyrus Mistry-Ratan Tata rift.
The production was 2.5 MT in the same quarter of the last fiscal, Tata Steel said in a filing to BSE.
Mutual funds' holdings in crown jewel TCS, Tata Motors, Tata Power and Tata Steel has risen during the month, according to a report industry research house Morningstar.
Tata Industries promotes Tata ventures in several sectors, including control systems, information technology, financial services, auto components, advanced materials, telecom hardware and telecommunication services.
The company is pursuing a transformation plan to create a sustainable future for its UK strip products business. The success of this plan is likely to influence decisions on future investments.
In a regulatory filing, Tata Motors said it has called extraordinary general meeting (EGM) on December 22 to consider resolutions moved by their holding company, Tata Sons, seeking removal of Mistry and Wadia.
Lord Kumar Bhattacharyya, founder-chairman of Warwick Manufacturing Group (WMG) and one of the Tata Group's advisers, said the group is "resolving" the problems facing the business.
Nearly every major plant has a potential to shift nearly 30-40 per cent of their inter-state rail movements to coastal shipping, said the latest report.
According to sources , the EGM should be called in the next few days . The board meeting on Thursday is to discuss the group's performance.
The directors also affirmed that the company will be governed, managed and supervised by the board. One independent director said the statement was drafted by Nasser Munjee and was endorsed by every independent director.
According to rules, independent directors have to review the performance of the non-independent directors, including the chairman and executive directors, once a year.
In a letter to Tata Motors CEO and Managing Director Guenter Butschek, Tata Motors Employees Union, Pune expressed "deep concern" over the rift between Tata Sons and the leadership of Tata group companies.
Name | DIN | Designation | Date of joining | |
---|---|---|---|---|
Chacko Joseph | Unlock to View | Unlock to View | Director | 21 Oct,2016 |
Srikumar Menon | Unlock to View | Unlock to View | Director | 28 Mar,2015 |
Rupali Basu | Unlock to View | Unlock to View | Director | 28 Mar,2015 |
Rajiv Kumar | Unlock to View | Unlock to View | Nominee director | 22 Oct,2014 |
Abraham George Stephanos | Unlock to View | Unlock to View | Managing director | 01 Apr,2014 |
Peeyush Gupta | Unlock to View | Unlock to View | Nominee director | 24 Jan,2014 |
Anand Sen | Unlock to View | Unlock to View | Nominee director | 20 Jul,2005 |
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