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News on Medial
Can Tata Steel be a rewarding bet in FY25?
Money Control
·
1y ago
Medial
Tata Steel's Q4FY24 earnings missed expectations leading to a 6% decrease in stock value. While there was improved performance in Europe with reduced losses, the Indian business remained strong. The company expects better realisations and reduced costs in Q1FY25. Despite the decline in stock value, Tata Steel's management is confident in maintaining a net debt/EBITDA ratio below 2.5x. The stock is currently trading at approximately 7.8x FY26e EV/EBITDA.
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Tata Steel shareholders meet today; to consider merger with Indian Steel & Wire
Livemint
·
1y ago
Medial
Tata Steel will hold a shareholders' meeting to discuss the merger with its subsidiary Indian Steel and Wire Products. The meeting, to be conducted through audio-visual means, will consider and approve the scheme, as directed by the National Company Law Tribunal (NCLT). The merger plan includes the amalgamation of six additional subsidiaries, aiming to unlock shareholder value and improve operational efficiencies. The CEO of Tata Steel expects the merger to be completed in the current financial year, subject to regulatory clearances.
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Hot Stocks: 3 stocks that may give returns between 16-22%
Economic Times
·
1m ago
Medial
Analysts recommend Bansal Wire Industries, Tata Communications, and Home First Finance stocks with potential returns between 16% to 22%. Bansal Wire is anticipated for robust growth due to its expanding steel wire plant. Tata Communications is expected to achieve significant data revenue growth over FY25–28, despite some delays. Home First Finance is favored in the affordable housing finance segment, poised for loan growth and strong returns.
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Funding winter or not, startups loosen purse strings to reward top talent
Economic Times
·
1y ago
Medial
Indian startups are increasingly rewarding and retaining key talent with high increments, stock options, performance-related bonuses, non-monetary incentives, and accelerated promotion tracks. Companies such as UpGrad, Plum, Simplilearn, Eruditus, Shiprocket, Urban Company, CashKaro, and Simpl are focusing on rewarding top performers amidst a shift towards profitability in the wake of funding challenges. Startups are implementing a differentiated approach to appraisals, disproportionately rewarding high performers and retaining top talent through long-term incentives and career development opportunities. While overall sector hikes may be lower, top performers can expect significant rewards.
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Tata Steel CEO says job cuts in Britain ‘least bad option,’ will continue talks
Livemint
·
1y ago
Medial
Tata Steel CEO, TV Narendran, has stated that the planned job cuts in the UK were the "least bad option" for the company. Tata Steel intends to close its two blast furnaces in Britain, resulting in up to 2,800 job losses. Despite the plan being rejected by trade unions, Narendran hopes to reach a conclusion through continued talks. He emphasized that the company is not profitable and restructuring is necessary. Tata Steel is also looking into India's ongoing auction of critical minerals and expects strong steel demand in the country.
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Tata Steel acquires 179 crore shares in Singapore subsidiary T Steel Holdings for Rs 1,562.54 cr
Economic Times
·
1m ago
Medial
Tata Steel Limited has acquired 179.10 crore shares in its Singapore-based subsidiary, T Steel Holdings Pte. Ltd., for approximately Rs 1,562.54 crore ($180 million). These shares have a face value of USD 0.1005 each. This acquisition is part of Tata Steel's plan to infuse up to $2.5 billion into the subsidiary during the financial year 2025-26, as previously disclosed. The subsidiary remains wholly owned by Tata Steel after this capital infusion.
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Tata Steel ends 'legacy steelmaking' at UK's largest steelworks
Money Control
·
10m ago
Medial
- Tata Steel's Blast Furnace 4 at the Port Talbot plant in Wales ceased operations after over 100 years. - Steelmaking at the plant is set to resume in 2027-2028 using Electric Arc Furnace-based steelmaking with UK-sourced scrap steel. - Tata Steel is investing GBP 1.25 billion in low CO2 scrap-based steelmaking, sustaining over 5,000 jobs in the UK. - The closure of legacy steelmaking assets in Port Talbot marks a significant event in the UK steel industry's history. - Tata Steel plans to collaborate with business partners, academia, governments, and communities to secure a brighter, greener future. - The company's planned GBP 750 million investment in low-CO2 green steelmaking will be supported by a GBP 500 million Grant Funding Agreement with the UK government. - Many of the existing heavy end assets at Port Talbot had reached the end of their operational life. - Tata Steel is sharing details about the new Electric Arc Furnace with local communities, customers, and the planning department. - The transition will result in an estimated 2,800 redundancies, prompting sadness from steelworkers' trade unions. - The UK government has provided a minimum voluntary redundancy payout and offers of training to support affected workers.
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Tata Steel more than doubles Odisha plant capacity at Rs 27,000 crore investment
Money Control
·
10m ago
Medial
Tata Steel has completed an expansion of its Odisha facility, making it the company's largest investment destination in India. The expansion includes the commissioning of India's largest blast furnace, which increases the plant's total capacity from 3 million tonnes per annum (MTPA) to 8 MTPA. This boost in production capacity will help Tata Steel meet the demands of industries such as automotive, infrastructure, power, shipbuilding, and defence. Additionally, Tata Steel has set a Net Zero emissions target by 2045.
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‘More money on the table’ if Tata Steel can create more assets, jobs in UK
Livemint
·
1y ago
Medial
The new Labour government in the UK is willing to offer a higher grant to Tata Steel if the company invests in building downstream assets and creating more jobs for workers affected by the closure of blast furnaces. Discussions are also ongoing with the Dutch government, which has agreed to provide financial aid to Tata Steel for a similar transition at its mill in the Netherlands. The UK government supports the closure of blast furnaces for safety reasons and is focused on helping Tata Steel create a sustainable business and save jobs. In India, Tata Steel is evaluating the impact of a recent Supreme Court judgement regarding mineral rights and considering whether to continue investing in captive iron ore mines.
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1,700 Tata Steel UK employees have opted for voluntary redundancy scheme, says MD
Money Control
·
1y ago
Medial
Around 1,700 employees of Tata Steel's UK operations, mainly at its Port Talbot facility, have opted for voluntary redundancy. The scheme, which was opened in July, will close on August 7. Approximately 2,600 employees are expected to be laid off as Tata Steel continues to close down "heavy-end" assets at the Port Talbot site. However, around 5,000 people will continue to work for Tata Steel UK in downstream operations and other functions. The company is in talks with the UK government for further investments beyond the agreed £1.25 billion restructuring plan.
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Tata Steel signs £500 million deal with UK government for Port Talbot | Mint
Livemint
·
11m ago
Medial
Tata Steel has secured a £500 million grant from the UK government for its £1.25 billion green steel project in Port Talbot. This funding will accelerate the installation of an electric arc furnace at the steelworks, reducing the UK's industrial carbon emissions by 8% and Port Talbot's emissions by 90%. The project is expected to make Port Talbot one of Europe's premier centres for green steelmaking. Tata Steel is also working on planning approvals and aims to start large-scale site work by July. The electric arc furnace is projected to be operational within three years.
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