User: esg Topic: Issues
Category: KalingaNagar
Last updated: Aug 21 2017 23:35 IST RSS 2.0
 
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Visa Steel suspends Kalinganagar operations as raw material supplies stop 21.8.2017 All Companies Stories
Visa Steel said it has gone for temporary suspension of all its operating units at Kalinganagar as raw material supplies have been abruptly halted to its plant. In a notice to its employees and workers engaged in its blast furnace, sponge iron, Steel Melting Shop (SMS), rolling mill and ferro chrome units, the company said it has placed the units under suspension effective from 6 am on August 21 till further order.The steel company in a letter to the district labour officer, Jajpur said it was constrained to suspend the industrial activities due to non-availability of necessary raw materials- iron ore and chrome ore. Visa Steel procures the two ores from state run Odisha Mining Corporation (OMC)."It is a deep regret to inform that the lifting and transportation of iron ore from OMC office stationed at Daitari mines to Visa Steel plant site has been stopped abruptly without any prior information in any manner. Though the transportation has been going on uninterruptedly through OMC ...
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Tata Steel India, Europe profitability to sustain in FY18: S&P 9.8.2017 ET: Steel
The healthy profitability at India-based Tata Steel Ltd (BB-/stable) is in line with our expectations and supports the company's credit quality, said S&P.
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Tata Steel bullish on domestic steel sector, to up production 8.8.2017 deccanherald.com
Steel major Tata Steel on Tuesday said it is optimistic about prospects of the domestic steel sector, and hopes to ramp up the production capacity of its Kalinganagar plant to capture growing opportunities. Addressing shareholders at the company's 110th annual general meeting here, Tata Steel Chairman N Chandrasekaran said the global steel demand is expected to grow at 1.3% in 2017 and 0.9% in 2018. The demand for steel in China will remain flattish, while in Euro zone it will be mildly positive. Steel demand in the country is expected to grow significantly at 6-7% per annum in the next two years, he said. "We are optimistic of 2017-18 being a better year for the domestic steel industry and we are set to capture these opportunities. We will endeavour to ramp up our production capacity, particularly at Kalinganagar, and leverage our new and differentiated product range," Chandrasekaran said. Commenting on challenges, he said the company's consolidated debt is Rs 83,014 crore and it needs to work towards ...
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Tata Steel to focus on reducing debt, India expansion 8.8.2017 HBL: Home
Lines up ₹7,000 cr capex for this fiscal
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Defence ministry nod to ease Tata Steel's Subarnarekha port acquisition 8.8.2017 Latest News
The Defence ministry is on the verge of granting conditional approval for development of the Subarnarekha port off the coast of north Odisha. The nod is expected to overcome a major hurdle for Tata Steel that has announced to acquire a majority stake in the port project. The steel maker has signed a definitive agreement with Chennai-based Creative Port Development Ltd (CDPL) to pick up 51 per cent equity in the port project from the original promoters."The Defence ministry, particularly the Defence Research Development Organization (DRDO) had been opposing many minor port projects along the coast of north Odisha. The identified port sites were close to their missile testing facility near Chandipur. For the Subarnarekha port, the Indian Air Force had certain objections as their practice limit zone fell under the port limits. But, after discussions with the defence ministry officials, the row is almost settled and we are awaiting a formal approval", said an Odisha government ...
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Tata Steel shares up 4 % post Q1 results 8.8.2017 Hindu: Home
 Shares of Tata Steel on Tuesday rose by over 4 % after the company returned to profit in the quarter ended June 30, 2017.After making a positive opening, shares of the company further jumped 4.15 % t...
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Tata Steel surges over 3% on Q1 profit 8.8.2017 HBL: Stock Markets
Shares of Tata Steel surged on Q1 profit. The stock rose as much as 3.11 per cent to its highest since April 2011. The company posted a Q1 profit of Rs 921 crore ($144.46 million) compared with a l...
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Tata Steel: Tata Steel comes out of red, Q1 profit at Rs 921 crore - Times of India 8.8.2017 TOI: All Headlines
Tata Steel: Tata Steel comes out of red, Q1 profit at Rs 921 crore - Times of India
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Tata Steel swings to profit in Q1, but lags estimates 8.8.2017 Business Standard: Companies & Industry
Company posts consolidated net of Rs 921 cr in Q1 FY18 against a loss of Rs 3,183 cr in Q1 FY17
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Tata Steel registers profit of Rs 921.09 crore in Q1 7.8.2017 DNA: Urban Tales
Steel giant Tata Steel on Monday posted a consolidated net profit of Rs 921.09 crore for the quarter ended June 30, 2017 on the back of higher revenue from operations. The company had posted consolidated net loss of Rs 3,183 crore in the year-ago period, Tata Steel said in a filing to BSE. "Our sales were up by 28 per cent on a y-o-y basis as the smooth ramp up of our Kalinganagar facility helped us increase our volumes and increase our market share," T V Narendran, Managing Director, Tata Steel India and South East Asia said in a statement. The consolidated revenue from operations during April- June quarter was at Rs 30,973 crore, registering an increase of 19 per cent. "We saw strong growth in our branded products, retail and solutions segment which increased 19 per cent y-o-y and now contributes around 48 per cent of overall revenues," Narendran said. However, consolidated total expenses increased to Rs 28,844 crore, over Rs 25,003.7 crore in the year-ago period. "From a sequential perspective, there ...
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Tata Steel swings to profit in Q1 7.8.2017 Hindu: Home
Tata Steel Ltd. returned to profit in the first quarter of this year after a loss a year ago, helped by the ramp up of its Kalinganagar plant in Odisha. Revenue in the quarter jumped 19% aided by incr...
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India's Tata Steel swings to profit in first quarter 7.8.2017 TOI: Intl Business
TATA STEEL-RESULTS/ (UPDATE 1, PIX):UPDATE 1-India's Tata Steel swings to profit in first quarter
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Tata Steel swings to profit in first quarter 7.8.2017 TOI: Intl Business
TATA-STEEL-RESULTS:Tata Steel swings to profit in first quarter
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Tata Steel posts impressive profits in first quarter but misses estimates 7.8.2017 Budget 2017, Income Tax - India Budget 2017 Updates, Union Budget 2017 Latest News, Railway Budget 2017 | Times of India
The steelmaker's net profit came in at Rs 921 crore ($144.37 million) in the quarter ended June 30, compared to a loss of Rs 3,183 crore a year earlier. Analysts on average had expected a net profit of Rs 1,043 crore, according to Thomson Reuters data.
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Tata Steel swings to profit in first quarter 7.8.2017 Sify Finance
REUTERS - Tata Steel Ltd returned to profit in the first quarter of this year after a loss a year ago, helped by the ramp up of its Kalinganagar plant in Indian state of Odisha.
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Tata Steel swings back to profit in Q1 at Rs 921 cr 7.8.2017 Business Standard: News Now
Sales volumes were boosted by ramp-up of its Kalinganagar plant
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Captive mine remains a pipe dream for Vizag Steel 6.8.2017 All Companies Stories
Hyderabad, 6 August: Vizag Steel Plant, the only steel manufacturing facility among the public sector(PSU) steel plants that has no captive iron ore mine, sees little chances of getting one under the present auction route owing to unmatched competition from private players.Established in port city of Visakhapatnam about 35 years ago, this Navaratna steel plant has been running on iron ore supplies from NMDC from the beginning. While there were no clear reasons as to why this PSU steel unit was not allocated a captive mine all these years, the effort to secure a mine in a recent auction in Odisha made its management realise that the task has only become tougher."We have participated in a recent auction for a mine in Odisha in the hope of putting a good show. But private steel maker Bhushan Steel has quoted a price 300 percent higher than what we were willing to pay for the mine. We can not compete with private companies as we are constrained by our own assessment of economic viability .
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Odisha to open 30 new courts 5.8.2017 All News-IANS Stories
The Odisha government has decided to open 30 new courts for speedy disposal of pending cases, Law Minister Pratap Jena said on Saturday.
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Steel firms paying high price for captive iron ore mines to ensure supply 3.8.2017 News
The auction of iron ore blocks in the country has shown steeper competition and higher price bidding for blocks reserved for captive use compared to those meant for non-captive purpose.Five out of nine iron blocks meant for captive use have gone to bidders with quotes of more than 100 per cent revenue sharing with the states of their location.Till date, 27 mineral blocks have been auctioned out of which 10 are iron ore blocks. Of these 10 blocks nine were reserved for captive use while one was earmarked for non-captive purpose.Even the single mine meant for non-captive use has been bagged by a steel company (Bhushan Power and Steel) which outbid the merchant miners in the race for Netrabandh Pahar mine. "This trend shows more strident urgency among steel companies, operating without captive mineral resources, to secure raw material supply compared to merchant miners who only want to get hold of iron ore mines for trading purposes", said an analyst.More than 75 per cent of the steel ...
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Odisha may get windfall revenue of over Rs 25,000 cr from defaulter miners 2.8.2017 All Economy & Policy Stories
Odisha may have a revenue bonanza in excess of Rs 25,000 crore in the current fiscal thanks to the Supreme Court order on illegal mining in the state.The apex court has asked the mining companies to cough up 100 per cent of the value of ore they had lifted without lawful authority since 2000-2001.The defaulting companies included some of the big names in the mining business- Tata Steel, Aditya Birla group owned Essel Mining, public sectors Steel Authority of India (SAIL), Odisha Mining Corporation, Mesco, Rungta Mines, KJS Ahluwalia, Sirajuddin Mines, Indrani Patnaik etc.Following the Shah Commission probe into illegal mining, the state government, in 2013, had issued notices in 146 cases to lease holders, most of them engaged in iron ore and manganese excavation, for recovery of illegally mined ore under section 21 (5) of the Mines and Mineral Development and Regulation (MMDR) Act. The law mandated recovery of value of such ore if the material is already sold. The total value of ...
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