Tata Steel, one of the leading global steel producers, reported consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) of ₹6,224 crores for the July to September 2024 quarter, with a half-yearly EBITDA of ₹13,046 crores. The company’s consolidated revenues for the quarter stood at ₹53,905 crores, marking a strong 25% year-on-year increase. Tata Steel […]
Tata Steel has made a significant leap in India’s steel industry by commissioning the country’s largest blast furnace at its Kalinganagar facility in Odisha. With an investment of ₹27,000 crore, this project is set to ramp up the site’s crude steel capacity from 3 million tonnes per annum (MTPA) to a staggering 8 MTPA, solidifying […]
Tata Steel has announced robust earnings for the quarter ended June 30, 2024, amidst a challenging global steel market. The company reported consolidated revenues of ₹54,771 crores and an EBITDA of ₹6,822 crores for the first quarter of FY25, reflecting an EBITDA margin of approximately 12.5%. This financial performance underscores Tata Steel’s resilience despite subdued […]
Tata Steel Long Products (TSLP) said that it has restarted the blast furnace at the Kalinganagar iron and steel plant of its subsidiary Neelachal Ispat Nigam Ltd (NINL). According to the Tata Group company, the milestone comes 90 days after the completion of acquiring a 93.71% stake in Neelachal Ispat Nigam Limited for INR 12,100 […]
Tata Steel Limited and Tata Steel Long Products Limited have signed a share sale and purchase agreement for acquiring a stake of 93.71% in Neelachal Ispat Nigam Limited (NINL) for INR 12,100 crores. Tata Steel and Tata Steel Long Products signed the agreement with MMTC, NMDC, MECON, Bharat Heavy Electricals Ltd (BHEL), Industrial Promotion and […]
Tata Steel Long Products said that it has accepted the letter of award (LoA) issued by the Indian government’s Department of Investment and Public Asset Management (DIPAM) pertaining to the acquisition of a 93.71% stake in Neelachal Ispat Nigam Limited (NINL). The consideration for the stake in Neelachal Ispat Nigam Limited is INR 12,100 crores. […]
Tata Steel Limited has reported a profit after tax (PAT) of INR 9,598 crores for the third quarter of the fiscal year 2022 (Q3 FY22), a 139.3% increase compared to INR 4,011 crores in the same period of the previous fiscal year. In the previous quarter, that is Q2 FY22, the Indian steelmaker had a […]
Tata Steel said that its subsidiary Tata Steel Long Products has prevailed in a bidding process to acquire a stake of 93.71% in Neelachal Ispat Nigam Limited (NINL) for INR 12,100 crores. The auction process is being carried out by the Indian government’s Department of Disinvestment & Public Asset Management (DIPAM). Neelachal Ispat Nigam has […]
Tata Steel Limited said that it has increased its stake from 26% to 51% in Medica TS Hospital Private Limited (MTSHPL), the holding company for a 100-bed multi-specialty hospital in Kalinganagar, Odisha, in a deal worth around INR 50 crores. Operating since 2014, Medica TS Hospital is a joint venture between Tata Steel and Medica […]
Tata Power and Tata Steel are joining forces to develop grid-connected solar projects with a combined capacity of 41MW in the Indian states of Jharkhand and Odisha. The two Tata Group companies have inked a power purchase agreement (PPA) for a duration of 25 years for the said capacity. Dr Praveer Sinha — CEO and […]