The meeting chaired by Chief Secretary Suresh Chandra Mahapatra approved the proposals mainly from sectors like manufacturing, food processing, steel downstream, fertilisers and hospitality.
Based on the historical performance of the transacted business, the Enterprise Value to EBITDA works out to be about 13 times, says Tata Steel in a statement.
This is the first successful bidding of Rungta, which did not win a single mining block in the auction of 24 mines whose lease period expired before March 31, 2020.
Tata Steel has become the first company in India to adopt carbon capture technology. Carbon capture is the process of capturing carbon dioxide before it is released into the atmosphere.
Tata Steel has tied up with an Indian startup to pursue its aspiration of deploying EVs for transportation of finished steel.
The total payout for eligible employees of all applicable divisions/ units of the company will be Rs 270.28 crore.
President of the recognised union of the steel plant J Ayodhya Ram said they were holding an emergency meeting on Thursday to decide the future course of action.
Tata Steel CEO’s statement that the company is interested in acquiring RINL, drew sharp criticism from the Visakha Ukku Parirakshana Porata Committee, which is spearheading the agitation.
While Kotak Bank lost the most after shedding over 2 per cent, it was followed by Dr Reddy's, M&M, PowerGrid, NTPC, Nestle India and HDFC Bank.
While Tata Steel, NTPC, Bharti Airtel, HCL Tech, ICICI Bank, M&M and HDFC Bank followed IndusInd in losses, Asian Paints, UltraTech Cement, Bajaj Auto, HUL and Nestle India were among the gainers.
During the April-June period of 2021-22 fiscal, the company's consolidated sales also rose to 7.14 MT, from 5.33 MT in the same quarter a year ago, a rise of 35 per cent.
Tata Steel has created equal opportunities for all while focusing also on inclusive workplace policies for the LGBTQ+ community to promote a diverse workforce.
In addition, for all its deceased frontline employees, Tata Steel would bear “all the expenses of their children’s education till graduation in India”.
Tata Steel on Wednesday posted a consolidated net profit of Rs 7,161.91 crore for the quarter ended March 2021, mainly on account of higher income.
On the directions of the steel ministry, steel plants in the country are supplying liquid medical oxygen (LMO) to various states amid rising demand for the gas.