Fitch today reaffirmed its BB+ rating as well as 'stable' credit outlook for Tata Steel saying its highly profitable India operations are improving the company's financial position.
Tata Steel's financial
Tata Steel Ltd gains 1 percent after the company sought shareholders' approval to increase its borrowing limit to 700 billion rupees ($11.73 billion) from 500 billion rupees earlier
Steel stocks gain after positive manufacturing data in a private survey in China, the world's biggest consumer and producer of the metal.
Tata Steel gains 4
Adani Ports has agreed to acquire Dhamra Port in Odisha from Tata Steel and L&T Infrastructure Development Projects (L&T IDPL) for about Rs 5,500 crore.
"The Dhamra port acquisition now
Tata Steel today reported a Rs 1,036 crore consolidated net profit for the January-March quarter on higher sales on the back of strong performance in Europe and India.
Tata Steel will start production from its greenfield plant at Kalinganagar in Odisha from the last quarter of next fiscal.
"Kalinganagar project is going on
Steel demand in India is expected to remain high, derived by strong fundamentals and the sector is expected to see an investment to the tune of about Rs two lakh
Tata Steel is to boost its research and development programme in the UK after it received an 8-million pound investment from the British government.
The Regional Growth Fund (RGF) investment
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William D. Green
Chairman & CEO, Accenture