Posts filed under 'Steel'
The series closing day added that triggered selling and profit booking in the Indian stock markets has added fuel to fire to drag the stock price of Tata Steel (BSE: 500470; NSE: TATASTEE; ISIN: INE081A01012) that reported a rather weak quarter result today. The company reported Q2 net loss of Rs 2700 crores as against to Rs 2,208 QoQ. The sales numbers are up by 9% and are at Rs 25,269 crore.
The steel maker said it is working on restructuring debt. The company has US$ 2.2 billion as cash in hand while its gross debt stands at US$ 12.8 billion. Tata Steel India’s turnover rose by 1% to Rs. 5,692 crores. On the other hand, the turnover stood at Tata Steel Europe rose by 10% to Rs. 16,768 crores.
Tata Steel opened at Rs. 560.00 on the BSE this morning, touched an intraday high of 567.95 and an intraday low of 529.15 before closing 543.45 down by 18.75 or 3.34%.
November 26th, 2009
The Indian stock markets are making further inroads to newer higher levels having opened upwards in the positive territory today.
Nifty is back at 4400 levels and is at 4410.35 up by 0.96%. CNX IT is marginally in the green while Bank Nifty is positive and has gained 1.11% in todays trade so far.
The BSE Sensex us up 120 points and is currently at 14,664.37 having opened at 14,610.57 early this morning. The BSE Midcap index is up 1.03% while the BSE Smallcap index is up 0.91%. On the sectoral front, Power, Metal, Realty, Health Care, PSU, Capital Goods, Bankex and Teck are all up by over 1%
The falling share prices seems to have come as an advantage to many, particularly for the Bajaj’s. A leading financial daily was reporting that the Bajajs have increased their stake in Mukund by 2% by open market purchases. With this, the Bajajs have a holding of 43% in the speciality steel company.
Reliance Communication (RCOM) was in news for many bad reasons and few good reasons recently. The latest buzz at RCOM is about their entry into the DTH Business under the brand Big TV. The press was reporting that the Reliance ADA Group has placed huge orders for DTH boxes and related equiptment to test their luck in the Indian DTH market. DTH has a market share of a mere 4% as against to the conventional cable television market of 95% and hence a huge market opportunity if the product and pricing are done properly.
Kingfisher - Deccan Aviation has finally got the approval from the Aviation Ministry to fly seven flights a week between the Bangalore - Heathrow (London) segment. The approval is actually given to Deccan Availation though it seems the UB Group would actually want the Kingfisher brand to use it for its foray into international aviation. Sources say the soft kickoff of the foreign fly will be on September 3 while a complete full fledged operations will be from November 2008. With this, Kingfisher-Deccan will become the third, after Jet-JetLite and AirIndia-Indian Airlines to get the approval to fly abroad.
August 20th, 2008
The following security of Tata Steel Limited shall be listed and admitted to dealings on the Exchange w.e.f. January 24, 2008. Trading shall be in the Normal Market Segment – Compulsory Demat (Rolling Settlement) for all investors.
|
Sr. No.
|
Symbol
|
Series
|
Security Description
|
ISIN Code
|
|
1
|
TATASTEEL
|
Q1
|
Cumulative Compulsorily Convertible Preference Shares
|
INE081A03018
|
January 22nd, 2008
The media had reports that Steel Authority Of India Ltd. may set up a 6 million tonne greenfield steel plant in Jharkhand, with an investment of Rs 18,000 crore.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Reply is awaited from Steel Authority Of India Ltd.
March 16th, 2007
NSE Press Release
The media had reports that JSW Steel Limited plans to spend around $2 billion on an aluminium project in Andhra Pradesh.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Reply is awaited from JSW Steel Limited.
March 6th, 2007