by Amruth Sundarkumar | Sep 26, 2022 | Corporates, India
Tata Steel will merge four listed and three unlisted subsidiaries for increased operational efficiencies and business synergies in order to focus on growth and save costs. Merger details are given below: Tata Steel Long Products (TSLP) shareholders will receive 67...
by Amruth Sundarkumar | Jul 26, 2022 | Corporates, India, Investment Grade Bonds
Tata Steel reported a 21.6% YoY fall in consolidated net profits to INR 77.6bn ($973mn) for the quarter ended June. The profit decline is attributed to higher raw materials costs and tax expenses. This is despite an 18.6% YoY increase in revenues to INR 634.3bn...
by Amruth Sundarkumar | Jul 25, 2022 | Corporates, India
India’s JSW Steel reported revenue growth of 31% YoY to INR 380.9bn ($4.8bn) for the quarter ended June. However, its net profits were lower by 85% to INR 8.4bn ($110mn) on the back of higher raw material costs rising 2.5x YoY to INR 256bn ($3.2bn) and power &...
by Amruth Sundarkumar | Jul 18, 2022 | Corporates, India, Investment Grade Bonds
Tata Steel has set aside INR 120bn ($1.5bn) for capital expenditures on its Indian and European operations during the current fiscal year. The CEO, T V Narendran elaborates that INR 85bn ($1.1bn) is meant for India, specifically on the Kalinganagar project expansion...
by Amruth Sundarkumar | Jul 5, 2022 | Asian Dollar Bonds, India, Investment Grade Bonds
Tata Steel has announced that its step-down subsidiary Tata Steel Long Products Ltd (TSPL), has completed the acquisition of 93.71% in Neelachal Ispat Nigam Limited (NINL). TSLP paid out INR 121bn ($1.5bn) for the transaction. The acquisition details were as follows:...
