Tata Steel Ltd (TATASTEEL)

Tata Group Plans Semiconductor Foundry; Tata Steel Earnings Expected to Dip - 29 Apr, 2024

Tata Group is setting up a semiconductor foundry and chip packaging plant in India, while Tata Steel's per tonne EBITDA is expected to dip by 15% due to higher coking coal prices and falling steel prices.

Tata Steel CEO Raises Concerns About Rising Steel Imports in India - 28 Apr, 2024

Tata Steel CEO T V Narendran has expressed concern over the surge in steel imports in India and called for government intervention. Domestic players have also been demanding a curb on imports and review of free trade agreements (FTAs) with several countries.

Tata Steel Proceeds with Investment Plan for Modern Electric Arc Furnace - 26 Apr, 2024

Tata Steel will invest GBP 1.25 billion to build a state-of-the-art electric arc furnace in Port Talbot, Wales, and commence closure of existing heavy-end assets. The investment marks the most significant investment in British steel production in years, protecting jobs and cutting CO2 emissions by 5 million tonnes annually.

Tata Steel Proceeds with Investment in Electric Arc Furnace - 25 Apr, 2024

Tata Steel will invest £1.25 billion in an electric arc furnace for steel production in Port Talbot, backed by £500 million in subsidies from the UK government. The move is part of a shift towards greener goals and could cut UK emissions by about 2%. The company has informed trade unions that two blast furnaces will close by end-September. Tata Steel UK recorded negative EBITDA of £373m and negative free cashflow of £623m in FY23-24.

Tata Steel Shares Rise Amid Positive Market Sentiment - 24 Apr, 2024

Tata Steel shares opened higher and contributed to the gains in the BSE Metal index. Brokerage firm Jefferies maintained a buy rating on the stock with a target price of Rs 200. The company reported a 6% growth in deliveries in FY24, supported by higher demand from retail, automotive, and railway segments.

Tata Steel MD Expects India's Steel Demand to Grow by 8-10% in FY25 - 23 Apr, 2024

TV Narendran, Managing Director of Tata Steel, expects steel demand in India to grow by at least 8-10% for FY25. He believes that India turning into a net importer of steel is temporary and unfair imports need to be dealt with. Global steel prices will continue to be determined by China's production and exports, which could impact Indian prices.

Tata Steel Amalgamates with Angul Energy; Tanishq Opens Fifth Store in US - 22 Apr, 2024

The National Company Law Tribunal has approved the amalgamation of Angul Energy with Tata Steel. Meanwhile, Tanishq, a subsidiary of the Tata Group, has opened its fifth store in the US, located in Chicago.

Tata Group Seeks Waiver to Avoid Listing Tata Sons; Plant Identified as Major Supplier to Tesla - 20 Apr, 2024

Tata Group has sought a formal waiver from the central bank to avoid listing Tata Sons, its holding company and non-banking finance firm, on stock exchanges. Meanwhile, Tata Group's semiconductor fabrication plant in Gujarat has been identified as one of the major suppliers of chips to Tesla.

Tata Steel Hires First Batch of Women Firefighters to Enhance Diversity - 19 Apr, 2024

Tata Steel has hired its first batch of 23 women firefighters, as part of a move towards ending gender-based stereotyping of jobs. The company is increasingly hiring more women for mines, steel plants, oil rigs and shop floors. Tata Steel Kalinganagar (TSK), West Bokaro, and Tata Steel Meramandali have initiated three-shift deployment of women workforce in operation and maintenance roles. This will help mainstream marginalised communities.

Tata Steel's P/S ratio similar to industry despite negative revenue growth - 18 Apr, 2024

Tata Steel's P/S ratio of 0.9x is similar to the median for the Metals and Mining industry in India, despite a frustrating 6.5% decrease in revenue last year and only a 0.7% expected increase this year. Investors seem willing to pay up for exposure to the stock, but maintaining these prices may be difficult with limited growth expectations.

Tata Electronics Signs Deal With Tesla For Semiconductor Chips - 15 Apr, 2024

Tata Electronics has signed a strategic deal with Tesla to procure semiconductor chips for its worldwide operations. Meanwhile, JSW Steel Ltd, Tata Steel Ltd, and ArcelorMittal Nippon Steel Ltd fell short of an investment target for the fiscal year to March 2024 due to delays. Prabhudas Lilladher expects Tata Steel Q4 net profit at Rs. 1,010 crore down 40.5% YoY (up 70.1% QoQ). The Tata Steel stock looks set for higher price targets if it stays above the Rs 160 mark.

Tata Steel Procures Order from Indian Railways; Air India Partners with Customer Engagement Firms - 12 Apr, 2024

Tata Steel secures an order worth ₹333.48 crore from the Indian Railways for 52,753 MT of steel. Meanwhile, Air India has partnered with Concentrix and iEnergizer to manage its premium services and domestic inquiries.

Jefferies Raises Target Price for Tata Steel Amid Global Manufacturing Resurgence - 10 Apr, 2024

Jefferies has raised Tata Steel's target price to Rs 200 per share, citing the recent resurgence in global manufacturing activity. The steel major is expected to report a 37.7% YoY decline in net profit for Q4 FY2023.

Tata Steel Leads Gains in Record-Breaking S&P BSE Sensex - 09 Apr, 2024

Tata Steel Ltd. was one of the top performers in the index's 5,000-point rally, leading gains in the S&P BSE Sensex and contributing to the benchmark hitting a fresh record high of 75,000 for the first time.

Tata Steel Hits Record High on Strong Deliveries and Bond Issue - 08 Apr, 2024

Tata Steel Ltd's shares rose over 2% to hit a record high after the company reported strong quarterly deliveries and raised Rs 2,700 crore through unsecured fixed-rate bonds. The company produced a record 20.8 MT crude steel in 2023-24, with revenues from Tata Steel Aashiyana up 30%. Morgan Stanley has maintained an equal-weight rating on Tata Steel with a target of Rs 135.

Tata Steel India Reports Record Sales in FY24 - 07 Apr, 2024

Tata Steel India reported a 6% growth in deliveries to 19.90 million tonnes in FY24, supported by higher demand from retail, automotive, and railway sectors. The company produced a record 20.8 MT crude steel in 2023-24, 4% higher than the previous fiscal year.

Tata Steel Achieves Record Production Levels - 06 Apr, 2024

Tata Steel achieved its highest-ever annual crude steel production of 20.8 million tonnes, with a growth of 4% YoY, and reported a 4.46% increase in crude steel production to 5.38 million tons in Q4 FY24. Domestic deliveries grew by 9% YoY driven by higher demand for steel in the country.

Tata Steel Shares Trade Positive Amid Vistara Crisis - 04 Apr, 2024

Shares of Tata Steel traded positively as Vistara faces a pilot shortage ahead of its merger with Air India. Meanwhile, two pilot unions wrote to the Tata Group Chairman urging proactive measures to address their grievances.

Tata Steel Files Writ Petition for Loan Waiver - 03 Apr, 2024

Tata Steel has filed a writ petition in the Calcutta High Court seeking waiver of loans availed from the Steel Development Fund and refund of the balance amount. The total outstanding loan amount is Rs 2,751.17 crore.

Tata Steel Shares Reach Record High Amid Bullish Sentiment - 02 Apr, 2024

Tata Steel's stock has reached a record high of Rs 165.45, trading above all moving averages and showing bullish sentiment among analysts who predict further upside potential.