TATA STEEL INDIA
Stocks in news: Patanjali Foods, IOL Chemicals, Carysil, Tata Steel, Coal India
Coal India's coal production rose 8% to 189.3 million tonnes in the first quarter. Patanjali Foods approved the acquisition of the home and personal care business. DCX Systems received a Rs 1,250 crore order.
India steel, trade ministries in talks over rising Chinese imports
India's steel and trade ministries are discussing the increasing imports of steel, especially the influx of cheap Chinese goods, according to a government source. The talks come amid ongoing requests from top producers for higher tariffs. India became a net steel importer in the fiscal year ending in March, with finished steel imports reaching a five-year high in April and May, based on provisional government data.
Budget in mind, D-St bulls cross 'historic' milestone
Analysts said the sustained run-up in indices of late is part of the pre-budget rally, aided by renewed flows from foreign investors in June. The optimism, however, did not rub off on the broader market where there were more losers than gainers.
India Inc's CSR spends on sports likely to surge in next few years
The foundations of several companies, such as the Reliance, Tata Steel, JSW, Hindustan Zinc and SKF India, have been supporting sports as part of their corporate social responsibility (CSR) commitments. However, the data on whether there has been an increase in the CSR spend on sports and by which companies is not available. This is due to an MCA notification in September 2022 that no longer requires companies to disclose details of their CSR spends but only the total spends towards CSR.
Auto & FMCG stocks offer support as Sensex settles 131 points higher; Nifty tops 23,500
Investors traded cautiously amid sectoral swings. Sensex closed around 77,341, Nifty sealed the day at 23,538. Sectorally, the gains were led by auto stocks, whose index was up nearly 0.9% and the FMCG pack, which rose around 0.72%. The Nifty IT, metal, PSU bank and pharma indices spoiled the market mood.
Adani Ports enters Sensex, Wipro exits as part of semi-annual rejig
Adani Ports joins Sensex as Wipro exits. The inclusion of APSEZ brings $259 million in passive inflows. Seven stocks' weights to rise: Bharti Airtel, Infosys, Kotak Mahindra Bank, ICICI Bank, Tech Mahindra, Tata Steel, and IndusInd Bank.
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Adani Ports to enter Sensex on Monday, Wipro to exit as part of semi-annual rejig
Adani Ports’ Sensex inclusion will trigger passive inflows of $259 million and 14.9 million shares are expected to be added, according to Nuvama’s estimates. Wipro’s exclusion could see outflows of $170 million.
Arcelor-Nippon says India's plan for raw material curbs ignores Red Sea crisis
ArcelorMittal's India joint venture warned New Delhi that planned curbs on low ash metallurgical coke imports, crucial for steelmaking, could harm the industry. The Red Sea crisis complicates supply chains, and the proposed 40% quota for European imports could disrupt operations. India's imports of this key steelmaking fuel have doubled in four years.
Tech heavyweights drive Sensex over 150 points higher, Nifty above 23,600
Indian benchmark equity indices opened higher led by information technology stocks after U.S. IT firm Accenture forecasted annual revenue growth above expectations.
Adani Wilmar, HDFC AMC among 17 companies in focus this week for dividend, AGM, rights issue, split, bonus issue
Real estate developer Sobha announced a 6:47 rights issue at a premium of Rs 1,641. The record date for the same is June 19
India Inc makes a play for equality: L&T and Amazon lead the way with all-women teams in engineering and delivery
Engineering giant L&T has established an all-women team at Tata Steel's mining site in Odisha, handling large machinery repairs, inspired by a successful pilot. Amazon, which initiated all-women virtual customer service in 2020, now operates nine all-women delivery stations in various locations. Companies like Shell, KFC, and Dr. Reddy's are also creating all-women teams in various sectors, boosting productivity, reducing attrition, and attracting female talent. These initiatives aim to address the gender gap and promote inclusive practices across industries.
India's April-May steel imports hit five-year high on buoyant domestic demand
The surge in imports has raised concerns among Indian steel mills, prompting calls for government intervention and safeguard measures. However, the Ministry of Steel has refrained from such actions, emphasizing the strong local demand for steel. Notably, China and South Korea emerged as top exporters of steel to India in recent months, with Indian steel producers like Tata Steel expressing apprehensions about the growing influx of Chinese imports.
Tata Steel apprehensive of UK media reports over investment plans
Tata Steel expressed concerns about UK media reports indicating potential impact on the 1.25 billion pounds investment in Port Talbot plant due to policy differences between UK government and opposition. They had signed a joint agreement in September 2023 for decarbonisation plans. Tata Steel plans to proceed with the closure of heavy-end assets at Port Talbot, emphasising their commitment to sustainability and transition to low-emission electric arc furnace process within three years.
Own midcaps? Do a check & balance exercise to avoid decision of haste: 7 midcaps from different sectors with an upside potential of upto 49%
Every now and then the market goes through phases, where it prefers a certain set of stocks, not based on sector but based on the overall market cap. So, sometimes it is large caps, at other mid-caps. Now this partially happens, due to the flows which are coming to markets. For example, if more flows are coming to mid-cap or multicap schemes there is bound to be out performance in the mid-cap space. Now what it does is that it tends to create a sudden surge in mid-cap. Similarly when there is an outflow like the kind of one which we saw in March this year, midcap stocks tend to decline sharply. Essentially, it is the flows which impact the broader matrix of how midcaps behave. So there are phases not owning a midcap stocks appeared to sin and then there phase, where owning them appears to be sin. But if one focuses on the underlying business and some critical parameters, there is a possibility of getting rid of these phases of anxiety which keep coming to the street and create long term wealth.
Tata Steel credit metrics to improve in FY25: CreditSights
CreditSights predicts Tata Steel's credit metrics to improve this fiscal year due to increased domestic steel demand, lower coking coal prices, and a strong EBITDA growth in FY25. It expected net leverage to enhance. Despite a significant drop in consolidated net profit for the March quarter, CreditSights believes Tata Steel's annual results were better than expected, with revenues and EBITDA declining due to losses in Europe and higher expenses.
2,500 job cuts! Layoffs in Tata Steel's UK operations inevitable, says CEO Narendran
Tata Steel's transition to low-emission electric arc furnace process at its UK operations will lead to the loss of around 2,500 jobs. The move, part of a decarbonization plan, aims to reduce production costs and cut CO2 emissions. Worker unions are protesting against the job cuts, which are seen as inevitable.
They just happen to be listed in India, what matters to them is global developments: 5 stocks from two sectors with upside scope of up to 29%
In the last month of volatility, there are some sectors which have shown a streak of out performance. They haven't fallen as much as nifty and have been able to keep their head above the water even on the worst of days. The reason, their bottom lines are more correlated to what is happening in the country or the continent in which they have exposure both in terms of sales and in some cases in manufacturing. So, one way to take global exposure is to have a look at these companies, also it is a sort of diversification in terms of exposure to the underlying economy. Because they are operating at a global level, their balance sheets are good and in some cases, they have been able to enter amongst the top companies of the world in their sector.
Tata Steel's UK business likely to make operating profit in H2, says CEO T V Narendran
"We don't expect demand in UK to shrink beyond what it is. We will be at least $150 per tonne cheaper in the cost of production. This changes our cost position, and we will not start losing money in the UK every time steel prices drop," Narendran said in an interview with ET.
Tata Steel, Nestle India among 5 stocks with short buildup
A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Thursday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:
Stocks in news: Apollo Hospitals, Muthoot Finance, Tata Steel, Kfin Tech, RR Kabel
Tata Steel Ltd on Wednesday reported 64% fall in its consolidated net profit at Rs 611 crore for the fourth quarter, compared with Rs 1,705 crore in the same quarter a year earlier.
Tata Steel net falls 65% to ₹555 cr on lower India prices
The firm's consolidated revenue during the quarter fell around 7% on year to ₹58,678 crore, while its earnings before interest, tax, depreciation and amortisation (Ebitda) declined more than 8% at ₹6,631 crore. Operations in India, which are the company's mainstay and account for almost 70% of the volumes, saw a marginal decline in sales and operating profit for the quarter.
Tata Steel Q4 Results: Net profit slumps 64% YoY to Rs 611 crore; misses D-St estimates
Tata Steel Q4 Results: Revenue from operations for the quarter under review fell 7% YoY to Rs 58,687 crore. The company's board has recommended a dividend of Rs 3.6 per share. It has also approved a proposal to infuse funds up to $2.11 billion (Rs 17,407.50 crore), by way of subscription to equity shares of T Steel Holdings Pte Ltd in one or more tranches during FY25.
Q4 results this week: Tata Steel, LIC, IRCTC, Apollo Hospitals Enterprise, and Bharat Dynamics
Several companies, including Tata Steel, LIC, and IRCTC, will release their March quarter report cards this week.
Lok Sabha Elections 2024: 61.41 pc voter turnout recorded till 5 pm in Jharkhand
A voter turnout of 61.41% was recorded in Jharkhand's Lok Sabha constituencies. Dhanbad sees a contest between BJP's Dulu Mahato and Congress' Anupama Singh.
JSW steel to spend over Rs 19,000 crore to expand Dolvi plant
The cost of JSW Steel's third phase of capacity expansion at its plant in Dolvi will be among the lowest for brownfield expansions for the company, a top official told ET. JSW Steel will spend a little over ₹19,000 crore on this capacity addition, which will help it cater to the demand for value-added special steel products, Jayant Acharya, chief executive officer of JSW Steel, said.
Keeping close watch on steel imports: SAIL Chairman Amarendu Prakash
India's largest steel player, SAIL, is closely monitoring steel imports amid concerns over China's heavy tariffs on electric vehicles, batteries, steel, solar cells, and aluminium. India reported a 38% surge in steel imports to 8.319 million tonnes in 2023-24, becoming a net importer. Steelmakers are seeking government intervention and domestic players are demanding a curb on imports and review of free trade agreements.
Wales First Minister holds meeting with Tata Steel on likely job losses at Port Talbot plant
Wales First Minister Vaughan Gething held a meeting with Tata Steel to discuss expected job losses at the company's Port Talbot plant in South Wales. The company plans to close two furnaces and replace them with electric furnaces as part of its green steel manufacturing plans, potentially affecting around 2,500 jobs in the next 18 months. However, trade unions have opposed the move, and 1,500 workers have reportedly voted in favor of an industrial action.
Need to be watchful about steel imports: Tata Steel's T V Narendran
Tata Steel CEO T V Narendran has urged caution amid a surge in steel imports in India, which has risen 38% to 8.319 million tonnes in the 2023-24 financial year. He said the situation would be a "pity if the situation continues in the long run" and called for the government to address unfair imports. Steel consumption is expected to grow 8-10% in the 2024-25 fiscal year. India's crude steel production increased 14% in FY24.
India's steelmakers fall short of investment target due to delays linked to China
Indian steelmakers missed investment target for fiscal year 2024 due to delays in importing machinery from China and securing visas for Chinese experts, impacting capacity expansion in the second-biggest crude steel producer.
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