NINL acquisition: Tata Steel to complete acquisition of Neelachal Ispat Nigam Limited by end of this quarter
2 years, 8 months ago

NINL acquisition: Tata Steel to complete acquisition of Neelachal Ispat Nigam Limited by end of this quarter

India TV News  

NINL acquisition news: Tata Steel will complete the acquisition of Neelachal Ispat Nigam Limited by the end of the current quarter, its CEO and MD T V Narendran said on Tuesday. On January 31, Tata Steel announced winning the bid for acquiring 93.71 per cent stake in Odisha-based steel maker NINL for Rs 12,100 crore. In a conference call with reporters on Tuesday, Narendran said, "The acquisition of Neelachal Ispat Nigam Limited will be closed in 1QFY23 and we will scale it up rapidly to drive expansion of our high-value retail business." Operations at the 1.1 million tonne integrated NINL plant at Kalinganagar, where Tata Steel has a steel plant, are suspended at present.

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History of this topic

Odisha: Protest by displaced families of NINL enters day three
1 month, 2 weeks ago

Odisha: Protest by displaced families of NINL enters day three

New Indian Express  

JAJPUR: The indefinite protest by displaced families of Neelachal Ispat Nigam Ltd steel plant in Kalinga Nagar industrial complex entered its third day on Wednesday. The protesters, under the banner of Nilachal Bistapita Parivar, have since Monday blocked the Duburi-Danagadi road demanding permanent employment at the NINL plant. Susanta Kumar Mohanta, a protester said the state government had acquired 2,500 …

Tata Steel Q1 highlight: PAT falls, consolidated revenues reach ₹59,490 crores
1 year, 5 months ago

Tata Steel Q1 highlight: PAT falls, consolidated revenues reach ₹59,490 crores

Live Mint  

Tata Steel reported consolidated revenues of ₹59,490 crores for the quarter, with an EBITDA of ₹6,122 crores and an EBITDA margin of 10%. The Profit after Tax stood at ₹525 crores, impacted by non-cash deferred tax charge related to the buy-in transaction at British Steel Pension Scheme, successfully derisking Tata Steel UK. The construction & infrastructure sector is the third-largest …

Tata Steel to invest ₹12,000 crore in FY23 on India, Europe operations: CEO Narendran
2 years, 5 months ago

Tata Steel to invest ₹12,000 crore in FY23 on India, Europe operations: CEO Narendran

The Hindu  

Tata Steel has planned capital expenditure of ₹12,000 crore on its India and Europe operations during the current financial year, the company's Chief Executive Officer T.V. The domestic steel major plans to invest ₹8,500 crore in India and ₹3,500 crore on the company's operations in Europe, Mr. Narendran, who is also the managing director of Tata Steel, told PTI in …

Disinvestment: Tata Steel arm acquires NINL for ₹12,100 cr
2 years, 6 months ago

Disinvestment: Tata Steel arm acquires NINL for ₹12,100 cr

Live Mint  

Tata Steel Long Products Ltd has completed the acquisition of state-owned Neelachal Ispat Nigam Ltd for ₹12,100 crore, the Centre said on Monday. Neelachal Ispat, which makes pig iron and billets, was a joint venture of four central public sector enterprises, including Metals and Minerals Trading Corp, Ltd, National Mineral Development Corp., Bharat Heavy Electricals Ltd, MECON Ltd, Odisha Mining …

Tata Steel Long Products accepts the letter of award for acquisition of NINL
2 years, 11 months ago

Tata Steel Long Products accepts the letter of award for acquisition of NINL

Live Mint  

Tata Steel on Wednesday informed the stock exchanges that its arm Tata Steel Long Products Ltd has accepted the letter of award for acquisition of Odisha-based Neelachal Ispat Nigam Ltd. DIPAM has issued the letter of award to Tata Steel Long Products for acquisition of 93.71% equity stake of NINL on 2 February. The process for acquisition of NINL is …

Tata Steel Q3 net profit more than doubles to ₹9,572 cr
2 years, 11 months ago

Tata Steel Q3 net profit more than doubles to ₹9,572 cr

Live Mint  

Tata Steel today reported a consolidated net profit of ₹9,572 crore for the third quarter ending 31 December, 2021. Our steel deliveries in India expanded by 4% in the first nine months of the financial year along with an improvement in product mix," said Tata Steel CEO and MD T V Narendran. Tata Steel continued to deliver strong operating and …

Govt to sell debt-ridden NINL to Tata Steel Long Products for ₹12,100 crore
2 years, 11 months ago

Govt to sell debt-ridden NINL to Tata Steel Long Products for ₹12,100 crore

Live Mint  

The government Monday approved Tata Steel Long Products Ltd as the strategic buyer for Neelachal Ispat Nigam Ltd with the highest bid of ₹12,100 crore. The highest bid of ₹12,100 crore by Tata Steel Long Products Ltd is accepted,” Tuhin Kanta Pandey, secretary of the department of investment and public asset management said in a statement. The financial bids from …

Untitled Story
3 years, 2 months ago

Untitled Story

Live Mint  

Tata Steel today reported a consolidated net profit of ₹11,918 crore for the second quarter ending September 30, 2021. Revenues at Tata Steel Europe business went up 50% year-on-year to £2,108 million in the reporting quarter, while EBITDA improved 2.2x QoQ to £328 million which translates to an EBITDA per ton of £153. Other operational highlights of Tata Steel's Q2 …

Tata Steel to invest ₹3,000 crore in Jharkhand in next 3 years to expand capacities
3 years, 4 months ago

Tata Steel to invest ₹3,000 crore in Jharkhand in next 3 years to expand capacities

The Hindu  

Domestic steel giant Tata Steel on Saturday expressed commitment to invest ₹3,000 crore in Jharkhand in the next three years to augment capacities. "Tata Steel plans to invest ₹3,000 crore in the next three years in Jharkhand with expansion of capacities of coal and iron ore mines and downstream value added steel portfolio," Chanakya Choudhary, vice president - Corporate Services, …

Tata Steel sells SE Asian operations to Chinese firm for $327 million, equity interest
5 years, 11 months ago

Tata Steel sells SE Asian operations to Chinese firm for $327 million, equity interest

Live Mint  

Tata Steel Ltd has agreed to sell most of its steel business in South-East Asia to China’s state-owned HBIS Group as the Indian steel maker continues efforts to trim its massive debt and focus on its fast-growing home market. Ltd, an indirect wholly-owned unit of Tata Steel, signed definitive agreements with an entity controlled by HBIS to sell its entire …

Tata Steel begins phase-II expansion of Kalinganagar plant in Odisha; expected to be 'lowest-cost' facility in world
6 years, 2 months ago

Tata Steel begins phase-II expansion of Kalinganagar plant in Odisha; expected to be 'lowest-cost' facility in world

Firstpost  

About 59.6 percent of the total employees engaged directly by Tata Steel are from Odisha, and 80.71 percent of the total contractors’ workforce working the company belong to the state, Bhubaneswar: The expansion of Tata Steel’s Kalinganagar plant to 8 million tons per annum capacity from 3 mtpa will incur a cost of Rs 23,500 crore and take 48 months …

The great battle for Indian steel
6 years, 3 months ago

The great battle for Indian steel

Live Mint  

Mumbai: Can you set a price on ambition? ArcelorMittal had to effectively value Essar Steel at roughly ₹ 5,000 crore for every 1 mt of production capacity, the highest any company has paid in India’s nascent bankruptcy court. This, along with the acquisition of Bhushan Steel, has brought Tata Steel’s India capacity to 19.3mt, neck-and-neck with JSW Steel with an …

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