Domestic giant Tata comments on rust in Steel demand

Tata Steel India recorded an output of 4.50 million tonne (MT) in the second quarter as against 4.30 MT in the corresponding quarter of the previous financial year. Its sales volumes during the quarter, however, took a hit recording 4.14 MT sales as compared to 4.32 in the year-ago quarter. Continue Reading

Investor wealth spikes Rs 2.11 lakh cr after FM announcements

The BSE Sensex advanced over 1,300 points to a high of 37,421.70. Led by the spike in equities, the market capitalisation of BSE-listed companies climbed Rs 2,11,086.42 crore to Rs 1,40,79,839.48 crore. Continue Reading

Tata Steel’s consolidated output rises by 9%

Domestic steel giant Tata Steel Sunday said its consolidated steel production rose by 9.18 per cent to 7.61 million tonnes (MT) in the first quarter of the current fiscal. The company’s output in the year-ago period was at 6.97 MT, Tata Steel Ltd said in a BSE filing. Continue Reading

Industry experts predict increase in steel demand

The Union Budget 2019-20 will give a push to big-ticket infrastructure projects and thereby increase the demand for steel, industry players said. Finance Minister Nirmala Sitharaman Friday announced a slew of steps to scale up the country’s infrastructure, including augmenting 1,25,000 km of rural roads under the Pradhan Mantri Gram Sadak Yojana (PMGSY) at a cost of Rs 80,250 crore and creating a national highways grid. Continue Reading

Tata Sponge Iron acquires UML steel biz

Tata Sponge Iron Limited, a subsidiary of Tata Steel Limited, has acquired the steel business of Usha Martin Limited (UML), a company release said Tuesday. Tata Steel signed a definitive agreement with UML to acquire their steel business in September 2018. Continue Reading