Edition:
India

Tata Steel Ltd (TISC.NS)

TISC.NS on National Stock Exchange of India

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Latest Key Developments (Source: Significant Developments)

Tata Sons Says NCLT Order Vindicates Position Of Tata Trusts & Tata Sons
Monday, 9 Jul 2018 

July 9 (Reuters) - Tata Sons Ltd::WELCOMES NCLT ORDER.SAYS ORDER OF NCLT VINDICATES POSITION OF TATA TRUSTS AND TATA SONS.TATA SONS HOPES THAT FINALITY WILL BE GIVEN TO JUDGEMENT OF NCLT BY ALL CONCERNED IN LARGER INTEREST OF COMPANIES, SHAREHOLDERS AND PUBLIC.JUDGEMENT RE-AFFIRMED, VINDICATED THAT TATA SONS AND ITS COMPANIES HAVE ALWAYS ACTED IN A FAIR MANNER.  Full Article

Tata Steel Q1 India Production 3.17 Mln Tonnes
Friday, 6 Jul 2018 

July 6 (Reuters) - Tata Steel Ltd ::Q1 FY19 INDIA PRODUCTION 3.17 MILLION TONNES.Q1 FY19 EUROPE PRODUCTION 2.81 MILLION TONNES.Q1 FY19 SOUTH EAST ASIA PRODUCTION 0.52 MILLION TONNES.Q1 FY19 PRODUCTION IS HIGHER THAN Q4 FY18 MAINLY DUE TO BETTER PLANT AVAILABILITY AT KALINGANAGAR.PRODUCTION IN Q1 FY19 IN SOUTH EAST ASIA IS LOWER COMPARED TO Q4 DUE TO PLANNED ANNUAL SHUTDOWNS AT TATA STEEL THAILAND.  Full Article

Thyssenkrupp CFO Says Closing Of JV Deal With Tata Steel Could Happen In Q4 Or Q1
Saturday, 30 Jun 2018 

June 30 (Reuters) - Thyssenkrupp ::THYSSENKRUPP TKAG.DE CFO SAYS NEW TATA JOINT VENTURE WILL HAVE ONE BALANCE SHEET, ONE CASH FLOW.THYSSENKRUPP CFO WAS ASKED ABOUT POTENTIAL STATUS OF TATA STEEL'S TISC.NS DUTCH OPERATIONS.CFO SAYS WE CAN SELL OR TRANSFER OUR RIGHT TO INITIATE IPO OF STEEL JOINT VENTURE.CFO SAYS EXPECT THE BIGGEST PART OF THE SYNERGIES TO BE REALISED WITHIN FIRST THREE YEARS OF THE JV.CFO SAYS CASH FLOW OF TATA STEEL'S DUTCH OPERATIONS IS NOT EXCLUSIVELY RESERVED FOR INVESTMENTS IN DUTCH BUSINESS.CFO SAYS CLOSING OF JV DEAL WITH TATA STEEL <<>> COULD HAPPEN IN Q4 OR Q1, DEPENDING ON HOW DISCUSSIONS WITH EUROPEAN COMMISSION GO.  Full Article

Thyssenkrupp, Tata Steel sign agreement to create steel JV
Saturday, 30 Jun 2018 

June 30 (Reuters) - Thyssenkrupp ::TATA STEEL AND THYSSENKRUPP SIGN A DEFINITIVE AGREEMENT TO CREATE A NEW EUROPEAN STEEL CHAMPION.SAYS JV WITH TATA STEEL IS THE ONLY SOLUTION TO CREATE SIGNIFICANT ADDITIONAL VALUE OF AROUND 5 BILLION EUROS FOR BOTH.SAYS HAS THE RIGHT TO EXCLUSIVELY DECIDE ON THE TIMING FOR A POTENTIAL IPO OF JV WITH TATA STEEL <<>>.SAYS RESPECTIVE EMPLOYEE REPRESENTATION STRUCTURES IN EUROPEAN COUNTRIES AND A EUROPEAN WORKS COUNCIL (EWC) WILL BE RETAINED.SAYS THERE WILL BE OPPORTUNITIES IN CAPITAL EXPENDITURE MANAGEMENT AND WORKING CAPITAL OPTIMISATION TO REALIZE ADDITIONAL SYNERGIES.SAYS BOARD WILL PRESENT THE REFINED STRATEGY TO THE SUPERVISORY BOARD IN AN EXTRAORDINARY MEETING IN THE WEEK BEGINNING JULY 9, 2018.  Full Article

Yes Bank Recovers 1.84 Bln Rupees Pursuant To Acquisition Of Bhushan Steel By Tata Steel
Wednesday, 23 May 2018 

May 23 (Reuters) - Yes Bank Ltd ::SAYS CO RECOVERS 1.84 BILLION RUPEES PURSUANT TO ACQUISITION OF BHUSHAN STEEL LIMITED BY TATA STEEL.YES BANK-HAS EXPOSURE TO 1 ACCOUNT, WORTH 234 MILLION RUPEES AS ON MARCH 31, 2018, FROM BORROWERS REFERENCED IN LIST 1 OF RBI IBC NCLT PROCESS.SAYS CO RECOVERS 1.84 BILLION RUPEES PURSUANT TO ACQUISITION OF BHUSHAN STEEL LIMITED BY TATA STEEL.  Full Article

Tata Steel Says Unit Completes Acquisition Of Controlling Stake In India's Bhushan Steel
Friday, 18 May 2018 

May 18 (Reuters) - Tata Steel Ltd ::UNIT BAMNIPAL STEEL COMPLETED ACQUISITION OF CONTROLLING STAKE OF 72.65 PERCENT IN BHUSHAN STEEL LIMITED AS PER RESOLUTION PLAN.SAYS ADDITIONALLY, 1 BILLION RUPEES PAID BY BNPL TO FINANCIAL CREDITORS OF BHUSHAN STEEL.INVESTMENT IN BHUSHAN STEEL DONE VIA COMBINATION OF EQUITY OF 1.59 BILLION RUPEES AND LOAN OF 349.74 BILLION RUPEES.ACQUISITION FINANCED VIA COMBINATION OF EXTERNAL BRIDGE LOAN OF 165 BILLION RUPEES AVAILED BY BNPL; BALANCE VIA INVESTMENT BY CO IN BNPL.SAYS NOMINEES OF BNPL HAVE BEEN APPOINTED ON BOARD OF BHUSHAN STEEL.BRIDGE LOAN AVAILED BY BNPL IS EXPECTED TO BE REPLACED BY DEBT RAISED AT BHUSHAN OVER TIME.  Full Article

Tata Steel Is Said to Seek Loan for Bhushan Steel Asset Purchase - Bloomberg
Thursday, 17 May 2018 

May 17 (Reuters) - :TATA STEEL LTD PREPARING A 115 BILLION RUPEE ($1.7 BILLION) LOAN TO HELP FUND ITS PURCHASE OF ASSETS FROM BHUSHAN STEEL LTD - BLOOMBERG, CITING SOURCES.  Full Article

Tata Steel Exec Says Co Hopes To Achieve 100 Pct Ramp Up Of Bhushan Plant In Next Couple Of Years
Wednesday, 16 May 2018 

May 16 (Reuters) - Tata Steel Ltd Executive Director and CFO Koushik Chatterjee::EXEC SAYS HOPE TO ACHIEVE 100 PERCENT RAMP UP OF BHUSHAN PLANT IN NEXT COUPLE OF YEARS.TATA STEEL EXEC SAYS THERE IS POTENTIAL TO TAKE CAPACITY OF BHUSHAN STEEL PLANT FROM 5 TO 8 MILLION TONNES.TATA STEEL EXEC SAYS BHUSHAN POWER'S COMMITTEE OF CREDITORS HAS NOT SAID ANYTHING TO CO.TATA STEEL EXEC SAYS CAPEX FOR CURRENT FY WILL BE AROUND OR OVER 80 BILLION RUPEES.  Full Article

India's Tata Steel Posts March Qtr Consol Profit
Wednesday, 16 May 2018 

May 16 (Reuters) - Tata Steel Ltd ::MARCH QUARTER CONSOL NET PROFIT 146.88 BILLION RUPEES VERSUS LOSS OF 11.68 BILLION RUPEES LAST YEAR.MARCH QUARTER CONSOL INCOME FROM OPERATIONS 357.37 BILLION RUPEES VERSUS 348.33 BILLION RUPEES LAST YEAR.RECOMMENDED DIVIDEND OF 10 RUPEES PER SHARE.MARCH QUARTER TOTAL EXCEPTIONAL ITEM OF 113.76 BILLION RUPEES.SAYS EXCEPTIONAL GAIN INCLUDES A NON-CASH GAIN OF 140.77 BILLION RUPEES ON ACCOUNT OF RESTRUCTURING OF UK PENSION SCHEME IN Q4.TATA STEEL - NET DEBT DECLINED TO 692.15 BILLION RUPEES AS OF MARCH 31, 2018.TATA STEEL - 50:50 JV DISCUSSION WITH THYSSENKRUPP IS PROGRESSING WELL.  Full Article

North Eastern Carrying Corp Gets Work Order Worth 3.56 Bln Rupees From Tata Steels
Friday, 27 Apr 2018 

April 27 (Reuters) - North Eastern Carrying Corporation Ltd ::SAYS CO GETS WORK ORDER WORTH 3.56 BILLION RUPEES FROM TATA STEELS.  Full Article

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Keep ThyssenKrupp whole, German minister urges

BERLIN The German government opposes a break up of ThyssenKrupp, it said on Wednesday after the submarines-to-lifts conglomerate lost its two top officials following pressure from shareholders who want to see the group restructured.