Tag: tatasteel

Shares of Tata Steel slipped 5 percent to Rs 112 on the BSE in Tuesday’s intra-day trade on profit booking after the steel major reported a consolidated net loss of Rs 2,502 crore for the quarter ended on December 31, 2022 (Q3FY23), on account of higher expenses. It had posted a net profit of Rs 9,598.16 crore in the year-ago period, the company said in a regulatory filing. Consolidated revenues from operations at Rs 56,757 crore were down 6.2 percent from Rs 60,525 crore in the year-ago period. The earnings before interest, depreciation, tax and amortization (EBITDA) were down 74 percent year-on-year and 34 percent sequentially at Rs 4,154 crore. In the previous quarter, consolidated revenues had stood at Rs 59,512.54 crore and the net profit was Rs 1,514.42 crore. Total expenses during the quarter stood at Rs 57,172.02 crore compared to Rs 48,666.02 crore a year back. Read more

Tata Steel has sold its Singapore unit, NatSteel Holdings Pte,17 years after it acquired for ₹1,275 crore ($172 million). TopTip Holding Pte, a Singapore-based steel and iron ore trading company.However, the wires business of NatSteel in Thailand (Siam Industrial wires) has been retained by Tata Steel as part of the downstream wires portfolio. Based on the historical performance of the transacted business, the enterprise value to EBITDA works out to about 13 times. In the past, Tata Steel had attempted to sell NatSteel Singapore but the move had failed. In 2019, the Indian company had inked an agreement with China’s Hebei Iron and Steel Group to sell NatSteel Singapore along with its other operations in Vietnam and Thailand (Millennium Steel). But the deal had collapsed as it failed to pass muster with the Hebei government. Read more

Shares of metal companies came under heavy selling pressure on Monday with the Nifty Metal index slipping 4.5 percent on the National Stock Exchange (NSE) in the intra-day trade. The Nifty Metal index has tumbled by nearly 250 points so far today with an intraday low of 5,683.85. The performance comes after the country's copper imports recorded double-digit growth for the June 2021 quarter by a whopping 26% to 60,766 tonnes in the quarter ending June 2021 (Q1FY22) compared to 48,105 tonnes imports witnessed in the same quarter a year ago. A decline in copper price on the back of a stronger dollar further added to the sell-side in stocks globally. Tata Steel was the top drag performance in the index tumbling by 10% as some analysts give a sell target on the company's stock. Read more

At close, the Sensex was down 524.96 points or 0.89% at 58,490.93, and the Nifty was down 188.30 points or 1.07% at 17,396.90 for the second day spooked by a possible spillover of China's Evergrande's debt woes, fall in commodity prices and ahead of US Federal Reserve policy meet outcome. About 995 shares have advanced, 2308 shares declined, and 132 shares are unchanged. Hindustan Unilever was the top Sensex gainer followed by Bajaj Finserv and ITC. Tata Steel was the top loser, followed by the State Bank of India, IndusInd Bank, and HDFC. Barring the Nifty FMCG index all indices ended in red. Nifty Metal tumbled the most followed by the Nifty PSU Bank index, down 6.6 percent and 4.18 percent, respectively. Nifty Realty, Bank, Pharma also tanked nearly 2 percent each. The BSE Midcap index plunged 1.84 percent and the BSE Smallcap 1.8 percent. India VIX zoomed 14.85% during the day to close at 17.49.

Shares of Tata Steel gained higher by 8.5 percent to Rs 1,191, their fresh record high on the BSE, in intra-day trade on Friday after the company reported its best-ever performance across metrics. The company on May 5 posted a consolidated profit of Rs 6,644.1 crore for the quarter ended March 2021 compared to a loss of Rs 1,481.3 crore in the year-ago quarter. Consolidated revenue from operations stood at Rs 49,977.4 crore, up 38.8 percent over Rs 36,009.4 crore in the corresponding quarter of the previous fiscal. Tata Steel’s consolidated EBITDA for Q4FY21 came in at Rs 14,184 crore, up 48 percent quarter-on-quarter (QoQ) and 196 percent YoY. Tata Steel's standalone operations reported EBITDA/tonne of Rs 27,775/tonne while the European operations reported. With the past two days' gain, Tata Steel has now rallied 97 percent since the Finance minister presented the Union Budget 2021-22 on February 1. Read more