Chandrasekaran, the former CEO of key Tata Group company TCS, took charge as chairman of the group’s parent firm, Tata Sons, after the bitter ouster of Cyrus Mistry earlier this year.
Tata Steel has finally freed itself from its 15 billion pound UK pension liability. The steel major has received the confirmation from UK's pension regulator for the deal.
In an interview to CNBC-TV18, TV Narendran, MD of Tata Steel spoke at length about steel demand and the latest happenings in the company from the sidelines of Centrum Conference.
CNBC-TV18’s Nigel D'souza is in conversation with the Steel Secretary Aruna Sharma on the side-lines of the Centrum Symposium on steel. Steel consumption is going up very well, it is matching to the increase in the production which is a very good sign, she said.
In an interview with CNBC-TV18, TV Narendran, MD of Tata Steel said that most of the big expenditure is behind the company and cash flow will be better going ahead.
Tata Steel expects government's new policy to give a boost to investments. Tata Steel MD told CNBC TV18 that hike in steel prices from April does not worry the company.
Tata Global has made 5-6 launches in the last 15 months. It is working in-line with global trends of health, wellness and premiumisation, Sushant Dash, Regional President India of the company.
Tata Steel speciality business would immediately give an outlet to recycle domestic scrap, said Sanjeev Gupta, Executive Chairman, Liberty House Group.
All eyes are on Budget, which is just round the corner, and Koushik Chatterjee, Group ED, Tata Steel is of the view that investments in research and development (R&D) is a necessity and Indian companies must take on the R&D path as a critical business objective.
North Eastern Carrying Corporation has bagged a Rs 400-crore order from Tata Steel. In an interview to CNBC-TV18, Utkarsh Jain of North Eastern said the order from Tata Steel will be completed in three-four quarters.
India currently exports 700,000-800,000 tonnes of steel and will be a net exporter soon because India already has raw materials and efficient producers, says Tata Steel Managing Director TV Narendran.
Just days before Tata Steel Board convenes an extraordinary general meeting) on December 21 for the removal of Nusli Wadia as independent director of the company, Wadia has written a letter to Tata Steel shareholders saying the allegations levelled against him are false and baseless.
In conversation with CNBC-TV18, Bimlendra Jha, CEO of Tata Steel UK, said the company is trying to launch consultation process to close the British Steel Pension scheme to future accrual and it will start next week.
TV Narendran says the steel industry as a whole has done well in the last year. The government has helped the industry to deal with anti-dumping duties, but the imposition of minimum import prices has always been a temporary measure.
Speaking to CNBC-TV18 Kaustubh Chaubal of Moody's said that there is no change in ratings of Tata group companies but should any new facts emerge, then they would review them.
Sources have revealed OP Bhatt, M Srinivasan and Andrew Robb refused to back Nusli Wadia's pro-Mistry resolution.
Sources tell CNBC-TV18 that independent directors met prior to Tata Steel board meet and are likely to have voted in favour of Cyrus Mistry.
Some knee-jerk reaction to the new is expected, but no damage over long-term is expected, said Ramesh Damani, member of BSE & NSE adding that â€œthough it will expose dirty linen of Tata Group to public eye.â€
Mayank Pareek, President of Passenger Vehicles Business at the automaker said that initial festive demand beginning Onam has been very good for Tata Motors. The company is on course to achieve its business plans globally, he added.
Sajjan Jindal, Chairman, JSW Group said fortunately enough iron ore capacity is being developed in the country and so, the country we will import very little ore; in fact in time they would be net exporter of iron ore.
According to the people in the know of the development, Tata Steel is likely to hive off downstream units in Rostherham, Hartlepool and Stocksbridge, reports CNBC-TV18's Nisha Poddar.
TV Narendran, Managing Director, Tata Steel says that for next 3 years the company will focus on ramping up Kalinganagar facility and targets a production capacity of 1 MTPA out of this facility.
If the deal does not go through, some pressure will be seen on the stock in near-term, says Tarang Bhanushali of IIFL who has a reduced rating on Tata Steel. In case of no deal, the target price for the stock is Rs 305.
The steel industry is joining forces seeking an extension of minimum import price which is slated to expire in August.
In a strongly-worded letter, a Tata Steel union has asked the company's management to clarify its intention on what it plans to do with its UK business.