Tata arm show hints at sunny days in steel TSLPL posted a profit of Rs 304.39 crore in the third quarter compared with Rs 59.05 crore in the preceding quarter and Rs 112.90-crore loss in the same period last fiscal
A near six-fold increase in the net profit of Tata Steel Long Products Ltd, the first steel company to announce its quarterly results, may signal how the company’s parent Tata Steel and the other integrated players may fare in this results season.
TSLPL, formerly Tata Sponge, posted a profit of Rs 304.39 crore in the third quarter compared with Rs 59.05 crore in the preceding quarter and Rs 112.90-crore loss in the same period last fiscal.
Basic materials stocks were trading in the positive zone, with the S&P BSE Basic Materials index rising 37.87 points or 1.03% at 3725.24 at 09:48 IST. Among the components of the S&P BSE Basic Materials index, Fineotex Chemical Ltd (up 8.14%), Rashtriya Chemicals & Fertilizers Ltd (up 7.01%),Tata Steel Long Products Ltd (up 4.95%),Orient Paper & Industries Ltd (up 4.78%),West Coast Paper Mills Ltd (up 4.61%), were the top gainers. Among the other gainers were Pennar Industries Ltd (up 4.59%), Sanghi Industries Ltd (up 3.84%), National Fertilizer Ltd (up 3.81%), Rain Industries Ltd (up 3.79%), and Tata Metaliks Ltd (up 3.58%). On the other hand, Pokarna Ltd (down 4.99%), Anant Raj Ltd (down 3.74%), and Greenpanel Industries Ltd (down 3%) moved lower.
Search Tata Steel transfers stake in two joint ventures to a wholly owned subsidiary Move aimed to simplify the group corporate structure
Tata Steel has transferred its stake in two joint ventures to a wholly owned subsidiary in an attempt to simplify the group corporate structure.
Listed entity Tata Steel held 51 per cent in Jamshedpur Continuous Annealing and Processing Company Private Ltd (JCAPCPL) and 50 per cent in Tata BlueScope Steel Private Ltd (TBSPL). These shares are now transferred to the books of Tata Steel Downstream Products Ltd (TSDPL), a wholly owned subsidiary of Tata Steel.
The transactions were carried out on a non-cash basis; TSDPL issued shares to Tata Steel as consideration for acquiring the stakes. While Nippon Steel of Japan is the other shareholder in JCAPCPL, BlueScope Steel of Australia is the partner in TBSPL.
Jharkhand chapter of CII holds online industrial safety conclave Over hundred delegates participate in event
The Confederation of Indian Industry s ( CII) Jharkhand State Council on Friday organised its second edition of Industrial Safety Conclave, to inspire stakeholders towards building a stronger culture of safety in their organisations.
The conclave acted as a forum for participants to interact with the safety professionals and thought leaders to learn the best practices.
“For achieving vision zero or a zero-accident workplace, we would need more involvement and commitment of the MSMEs,” said Sanjay Sabherwal, Chairman, CII Jharkhand State Council.
“I am happy that the CII Jharkhand s safety panel has launched Project SARTHI to handhold MSMEs on better safety management practices and transform them into a better and safer workplace,” Sabherwal, who is also the Managi