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[ad_1] NEW DELHI: Tata Steel on Thursday its consolidated production declined to 7.08 million tonnes (MT) in the first quarter of FY24. The company's consolidated production was at 7.67 MT during April-June of the preceding financial year, Tata Steel said in a statement. Consolidated deliveries however rose 7.97 pc to 7.04 MT from 6.52 MT in the same period of the last fiscal. In India, Tata Steel India produced 5.01 MT of steel over 4.92 MT in the year-ago quarter. The deliveries in India rose to 4.80 MT from 4.07 MT a year ago. Tata Steel Europe saw its production fall to 1.81 MT from 2.44 MT in April-June FY23. In Europe, the deliveries fell to 1.97 MT from 2.14 MT in the same quarter a year ago. In Thailand, Tata Steel Thailand produced 0.26 MT, down from 0.31 MT Q1 in the preceding fiscal. In Thailand also deliveries reduced to 0.27 MT from 0.31 in the year-ago quarter. "The planned relining of BF6 at Tata Steel Netherlands commenced in April and this has led to...

[ad_1] MUMBAI: Rising for the third straight session, equity benchmark Sensex closed higher by 123 points on Wednesday, propped up by robust fag-end buying in banking and financial stocks amid a bearish trend in global equity markets. Besides, covering-up of short positions by bears supported the late recovery in stocks, helped wipe off losses, traders said. However, a weak rupee against major rivals overseas weighed on market sentiment and restricted gains, they added. In a largely subdued session, the 30-share BSE Sensex ended 123.63 points or 0.21 per cent higher at 60,348.09. During the session, the index touched a high of 60,402.85 and a low of 59,844.82. The broader NSE Nifty gained 42.95 points or 0.24 per cent to finish at 17,754.40. IndusInd Bank was the biggest gainer on the Sensex chart, rising 4.75 per cent, followed by M&M, L&T, NTPC, ITC, Ultra Cement , Tata Steel , Maruti and SBI. In contrast, Bajaj Finance , Tech Mahindra, Infosys and Sun Pharma were amo...

[ad_1] MUMBAI: Benchmark indices declined in initial trade on Thursday after eight days of rally amid weak trends in the US equity markets triggered by fresh concerns over recession. IT counters took a beating in the morning trade which resulted in weak trend in the benchmark indices. The 30-share BSE Sensex fell 164.66 points to 60,228.11 in early trade. The broader NSE Nifty declined 44.45 points to 17,767.95. Among the Sensex firms, Infosys, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Wipro , NTPC, Kotak Mahindra Bank and Tata Steel were among the major laggards. The country's largest IT services exporter TCS on Wednesday reported a 14.8 per cent increase in March quarter net profit at Rs 11,392 crore but flagged worries from its key market of North America. Power Grid, Bajaj Finserv , Hindustan Unilever, Nestle, State Bank of India and Maruti were among the gainers. In Asian markets, Seoul, Japan and Shanghai were trading in the green, while Hong Kong ...

[ad_1] LONDON: Britain is set to pump 500 million pounds ($621 million) into Tata Steel to decarbonise its Welsh site in a deal aimed at securing the future of the country's steel industry, but which puts as many as 3,000 jobs at risk. The 1.3-billion-pound funding package for Britain's biggest steel works includes a 750-million-pound investment from Tata to pay for the switch to lower-emission electric arc furnaces from the current coal-powered methods. While Britain said Friday's deal would help to safeguard 5,000 jobs, Tata Steel UK currently employs more than 8,000 people - raising the prospect of 3,000 redundancies as the lower-carbon electric furnaces are less labour intensive. Business and trade minister Kemi Badenoch said the deal was the right thing for Britain and the overall workforce. "We are saving jobs which would have been lost... without this investment, we would probably have seen the end of steelmaking certainly in this part of the country,...

[ad_1] Stocks to watch June 9:  The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 18,756.50, up 36 points or 0.19% from the previous close. Aether Industries: Aether Industries Limited has inked a license agreement with Saudi Aramco Technologies Company for the commercialisation of the sustainable Converge polyols technology. L&T Finance Holdings: The Board of Directors of the Company has recommended a final dividend of Rs 2 per equity share for the financial year 2022-23. Arihant Capital Markets: A meeting of Board of Directors of the Company will be held on June 15, 2023, to consider and approve issuance of secured unlisted redeemable non-convertible debentures (NCD) on a private placement basis. Urja Global: Urja Global Limited entered into Agreement on June 7, 2023, with Tesla Power India Private Limited for the purpose of manufacturing and supply of batteries under the TESLA POWER U...

[ad_1] Stocks to watch out for on July 17 Stocks to watch: Shares of firms like HDFC Bank, Tata Steel, DMart, SBI, Bandhan Bank, ONGC, and others will be in focus on Monday's trade. Stocks to Watch on July 17:  Nifty futures traded 7.5 points, or 0.04 per cent, higher at 19,626.50, signaling that Dalal Street was headed for a flat start on Monday. Here’s a slew of stocks that will be in focus today for various reasons. Results today: HDFC Bank, LTIMindtree, Tata Elxsi, Crisil, Central Bank of India, Choice International, Hathway Cable, among others will report the April-June quarter results of fiscal year 2023-24 (Q1FY24). Tata Steel: The management said that the company plans to explore opportunities in the battery-minerals-related segment, including lithium through their Natural Resources division. This divison is one of the 14 companies listed as notified private exploration agencies by the Ministry of Mines. Angel One: The National Stock Exchange (NSE) has slapped Rs 1....

[ad_1] Stocks to Watch on July 6:  Nifty futures traded 33 points, or 0.17 per cent, lower at 19,479, signaling that Dalal Street was headed for a negative start on Thursday. Here’s a slew of stocks that will be in focus today for various reasons. Tata Power: Tata Power has received Letter of Award (LoA) to implement smart metering project in Chhattisgarh State Power Distribution Company. The value of project is Rs 1,744 crore, and the project will be spanned over a period of 10 years. Adani Enterprises: According to a report, Adani Enterprises has fully repaid Rs 10 crore of commercial paper, which is unsecured, short-term debt. The company redeemed the commercial paper on July 5, which was the date of its maturity. There is no outstanding amount remaining. JSW Steel, Zomato, JBM Auto: JSW Steel will replace Housing Development Finance Corporation (HDFC) in the S&P BSE Sensex effective from July 13. Moreover, JBM Auto Components will replace HDFC Ltd in S&P BSE 500 index;...

[ad_1] NEW DELHI: Tata Steel on Thursday its consolidated production declined to 7.08 million tonnes (MT) in the first quarter of FY24. The company's consolidated production was at 7.67 MT during April-June of the preceding financial year, Tata Steel said in a statement. Consolidated deliveries however rose 7.97 pc to 7.04 MT from 6.52 MT in the same period of the last fiscal. In India, Tata Steel India produced 5.01 MT of steel over 4.92 MT in the year-ago quarter. The deliveries in India rose to 4.80 MT from 4.07 MT a year ago. Tata Steel Europe saw its production fall to 1.81 MT from 2.44 MT in April-June FY23. In Europe, the deliveries fell to 1.97 MT from 2.14 MT in the same quarter a year ago. In Thailand, Tata Steel Thailand produced 0.26 MT, down from 0.31 MT Q1 in the preceding fiscal. In Thailand also deliveries reduced to 0.27 MT from 0.31 in the year-ago quarter. "The planned relining of BF6 at Tata Steel Netherlands commenced in April and this has led to...