Tata steel uk

Tata Steel said today that the existing power purchase pact between Bhushan Steel, the debt-laden company which it acquired, and Bhushan Energy is in under discussion. The statement comes amid reports that Tata Steel has started the process of cancelling PPAs between Bhushan Steel and Bhushan Energy in a bid to cut costs. "Bhushan Steel has a contract (power purchase agreement) with another company BEL (Bhushan Energy Ltd). There are some discussions going on at this stage so nothing has happened as yet. There is discussion regarding the contract," Tata Steel President --Steel business and Total Quality Management (TQM)-- Anand Sen told reporters here. He was speaking on the sidelines of International Conference on Minerals and mental sector organised by ITEI. Sen further said, "Yes, the company feels that it could be little bit more economical so they are examining the contract and discussing with the owners of BEL to have more beneficial contract on both parties." BEL is a … [Read more...] about Existing power pacts between Bhushan Steel, Bhushan Energy under discussion: Tata Steel

The National Company Law Tribunal (NCLT) on Thursday approved the resolution plan of Tata Steel to acquire debt-ridden Bhushan Energy Ltd for around Rs 800 crore. The principal bench of NCLT Delhi also rejected objections from Bhushan Energy's former promoter Neeraj Singal opposing Tata Steels' bid. Under the resolution plan, Tata Steel will offer an upfront payment of Rs 730 crore. It would also pay Rs 50 crore additionally to operational creditors of the company. Besides, Tata Steel would also infuse Rs 367 crore into the company as a part of equity infusion. A detailed order is still awaited in this matter. The order was pronounced by NCLT on Thursday. Bhushan Energy was a subsidiary of Bhushan Steel Ltd, which was also taken over by Tata Steel last year in May and later renamed as Tata Steel BSL Ltd. Tata Steel had offered Rs 35,200 crore in cash to acquire Bhushan Steel besides Rs 1,200 crore to creditors and convert the remaining debt owed to banks to equity. Incorporated … [Read more...] about NCLT approves Tata Steel takeover of Bhushan Energy

Indian indices opened on a positive note on Wednesday (December 11) with the Sensex gaining 87.59 points or 0.22% to reach 40327.47 and the Nifty advanced 25.00 points or 0.21% at 11881.80. A total of 393 shares have advanced, 198 shares declined, and 31 shares were unchanged.  Tata Steel, Dish TV, Vodafone Idea, JSPL and Indiabulls Housing, are among major gainers on the Indices, while Yes Bank, SBI, RIL, Nestle and Britannia Industries were the major losers. The Indian rupee opened higher at 70.89 per dollar on Wednesday after closing at 70.92 on Tuesday (December 10). The Sensex on Tuesday (December 10) closed 247.55 points lower or 0.61 percent at 40239.88, while the Nifty shed 80.70 points or 0.68 percent at 11856.80. The top gainer stocks were Bajaj Finance, Eicher Motors, and Cipla while the top losers included YES Bank, Zee Entertainment and Power Grid. Among sectors, Nifty Metal, Nifty PSU Bank and Nifty IT sub-indices lost 1.50 per cent each. During early hours on … [Read more...] about Sensex, Nifty opens in green; Tata Steel, Vodafone Idea gain

NEW DELHI: Nifty futures on the Singapore Exchange traded 1.5 points, or 0.01 per cent, up at 11,966, indicating a flat start for Dalal Street. Here are few of the stocks that may buzz during the day: YES Bank: The board will meet to decide on investment offers made by a number of fund houses and family offices. The company is in the process of raising $2 billion from the market. Tata Motors: Auto major Tata Motors plans to add 100 sales outlets for passenger vehicles by the end of the current fiscal, a senior company official said. The company, which has around 860 sales outlets spread across the country, has already added up around 100 outlets in the current financial year till now. JSW Steel: JSW Steel on Monday posted a 7 per cent fall in November 2019 crude steel output at 12.90 lakh tonne (LT). In November 2018, the Sajjan Jindal-led company had produced 13.90 LT of crude steel. Jaypee Infratech: Voting on the bids of of state-owned NBCC Ltd and private sector firm … [Read more...] about Stocks in focus: YES Bank, JSW Steel, SRF, BoB

Email By Nick Rowley Posted December 12, 2019 05:00:59 Photo: Boris Johnson's rise to the Prime Ministership has seen an exodus of senior Conservative MPs unable to stomach his selling of simple messages. (AP: Dominic Lipinski) Related Story: Boris Johnson believes he cannot win Brexit without this 99 per cent white British town Related Story: UK male MPs have been accused of abuse, so these survivors are coming for their seats Related Story: This is how Boris Johnson could win Brexit, but lose the United Kingdom Map: England Ahead of today's British general election, the polls appear to indicate a victory for the Conservative Party under the leadership of Boris Johnson.But with the previously ordered British party system in disarray and a toxic campaign beset with crude accusation and counter accusation coming to an end, it is unclear whether even a majority government will have a mandate and the political capital to resolve terribly much.Over the past weeks of the … [Read more...] about UK election is the continuation — not the end — of this toxic chapter of British politics and history