Tag: Tata Steel Ltd

Markets trade lower; Tata Steel, Bharti Airtel shares dip

06/04/2017 10:21

The key domestic benchmark indices were trading in a negative terrain in the morning trading session dragged by banking & financials, FMCG and select auto stocks.

The market sentiments were dampened amid weak cues from Asian markets following losses on Wall Street in overnight trade as caution prevailed in the market ahead of the highly-anticipated meeting between US President Donald Trump and Chinese President Xi Jinping. The rate-sensitive, auto, banking and realty stocks remained in focus ahead of the Reserve Bank of India’s bi-monthly monetary policy review.

At 10:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 29904.28 down by 69.96 points or by 0.23 per cent, while the NSE Nifty was at 9241.25 points, trading lower by 23.9 points or by 0.26 per cent.

The BSE Sensex touched an intraday high of 29948.44 and an intraday low of 29852.3 while the NSE Nifty touched an intraday high of 9245.8 and an intraday low of 9225.9

The top gainers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2811.45,+1.84 per cent), Axis Bank Ltd. (Rs. 512.05,+1.10 per cent), Reliance Industries Ltd. (Rs. 1425.60,+0.76 per cent), Infosys Ltd. (Rs. 1001.00,+0.56 per cent), NTPC Ltd. (Rs. 167.20,+0.48 per cent), among others.

Meanwhile, Tata Steel Ltd. (Rs. 485.00,-1.69 per cent), Bharti Airtel Ltd. (Rs. 339.50,-1.48 per cent), Hindustan Unilever Ltd. (Rs. 922.15,-1.41 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 352.55,-1.32 per cent), ITC Ltd. (Rs. 275.95,-1.08 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2410 shares traded, 1252 shares advanced, 1058 shares declined while 100 were unchanged.

On the global front, Asian stocks were trading lower today tracking losses on Wall Street overnight, while the US markets closed lower in the previous trading session after the Federal Reserve released the minutes from its March meeting which showed Fed officials wanting to start unwinding the central banks massive USD 4.5 trillion balance sheet later this year.

Advertisements

Markets remain firm; Tata Steel, Power Grid shares advance

13/02/2017 10:18

The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking firm cues from fellow Asian peers and strong closing of the Wall Street on Friday on hopes of tax reform by the newly elected President Donald Trump, amid sustained buying by foreign portfolio investors as they rush to avail treaty tax benefit before April 01.

It will be the busiest day of the earnings season as over 650 companies will release their financial report which includes big names such as, Hindalco Industries, Nalco, Petronet LNG, Allahabad Bank, Britannia Industries and MMTC.

The investors may react to Index of Industrial Production (IIP) data later in the day which contracted 0.4 per cent year-on-year in December 2016 due to demonetisation led dip in consumer goods production. Traders will also keep an eye on the consumer price index (CPI) data for January which will released after market hours today and wholesale price index (WPI) due tomorrow.

At 10:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 28374.41 up by 40.16 points or by 0.14 per cent, while the NSE Nifty was at 8807.3 points, trading higher by 13.75 points or by 0.16 per cent.

The BSE Sensex touched an intraday high of 28458.8 and an intraday low of 28321.93 while the NSE Nifty touched an intraday high of 8826.9 and an intraday low of 8786.45

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 475.55,+1.67 per cent), Power Grid Corporation of India Ltd. (Rs. 202.80,+1.48 per cent), Mahindra & Mahindra Ltd. (Rs. 1292.30,+1.11 per cent), GAIL (India) Ltd. (Rs. 488.30,+1.11 per cent), NTPC Ltd. (Rs. 171.90,+0.88 per cent), among others.

Meanwhile, Coal India Ltd. (Rs. 319.20,-1.71 per cent), Housing Development Finance Corporation Ltd. (Rs. 1380.00,-0.61 per cent), State Bank of India (Rs. 274.65,-0.58 per cent), Hero MotoCorp Ltd. (Rs. 3250.00,-0.50 per cent), Cipla Ltd. (Rs. 577.45,-0.33 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2344 shares traded, 1142 shares advanced, 1087 shares declined while 115 were unchanged.

On the global front, Asian stocks were trading higher as recent actions by President Donald Trump helped soothe investor worries about ties between the U.S. and its key Asian trading partners, while the US markets closed higher in the previous trading session on the positive impact of lower taxes and regulatory reforms promised by Trump.

Markets trading near flat line; Axis Bank, Tata Steel shares dip

19/01/2017 10:20

The key domestic benchmark indices were trading near the flat line in the morning trading session tracking mixed cues from fellow Asian peers as Wall Street ended on subdued note in overnight trade and as investors remained wary ahead of Donald Trump’s taking charge on Friday.

Banking stocks will remain in focus today as slew of private sector lender such as Axis Bank, Federal Bank, Lakshmi Vilash Bank and YES Bank will release their earnings report later today.

The investors also reacted to falling crude oil prices and fresh concerns over US rate hike after the Federal Reserve Chair Janet Yellen commented that the improving employment scenario in the economy makes case for gradually lifting interest rates.

At 10:15 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 27252.34 down by 5.3 points or by 0.02 per cent, while the NSE Nifty was at 8417.05 points, trading higher by 0.05 points or by 0.0 per cent.

The BSE Sensex touched an intraday high of 27296.86 and an intraday low of 27219.89 while the NSE Nifty touched an intraday high of 8427.9 and an intraday low of 8405.95

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 529.15,+1.15 per cent), Bharti Airtel Ltd. (Rs. 317.05,+1.07 per cent), GAIL (India) Ltd. (Rs. 443.50,+0.94 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 294.00,+0.75 per cent), Hindustan Unilever Ltd. (Rs. 871.00,+0.74 per cent), among others.

Meanwhile, Axis Bank Ltd. (Rs. 480.35,-1.64 per cent), Tata Steel Ltd. (Rs. 463.00,-0.98 per cent), Mahindra & Mahindra Ltd. (Rs. 1207.10,-0.74 per cent), Bajaj Auto Ltd. (Rs. 2685.00,-0.71 per cent), Wipro Ltd. (Rs. 478.70,-0.63 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2074 shares traded, 1062 shares advanced, 891 shares declined while 121 were unchanged.

On the global front, Asian stocks were trading mixed today, while the US markets closed lower in the previous trading session as investors remained wary ahead of Donald Trump’s taking charge on Friday.

Tata Steel Q3 production surges 28%

Tata Steel Q3 production surges 28%

09/01/2017 14:31

Tata Steel today reported 28 per cent growth in saleable steel production to 3.2 million tonnes (MT) for the third quarter of the ongoing fiscal on the back of ramp up its Kalinganagar plant.

The production was 2.5 MT in the same quarter of the last fiscal, Tata Steel said in a filing to BSE.

The company’s crude steel production during the October- December quarter of 2016-17 also grew to 3.2 MT, against 2.5 MT in the year-ago period.

Its sales grew to nearly 3 MT against 2.3 MT in the year-ago period.

Tata Steel said: “Q3 FY’17 saw sales of 2,994 (thousand tonne) an increase of 27 per cent over last year in the same period. It is also an increase of 14 per over Q2 FY’17, largely due to Tata Steel Kalinganagar ramp up,” it said.

The company’s hot metal production was up at 3.4 MT, against 2.7 MT in the same quarter of previous fiscal.

The filing said the company’s Kalinganagar plant “crossed 1.5 million tonnes of hot metal and one million tonnes of hot rolled coil production since commissioning in May”.

Meanwhile, shares of the company were trading at Rs 421.40 apiece, up 0.41 per cent from the previous close at 14:36 hours on BSE.

Tata Steel to buy 100% equity of Brahmani River Pellets

23/12/2016 14:42

Tata Steel Ltd said that it has executed a definitive agreement to acquire 100 per cent equity of Odisha-based iron ore company Brahmani River Pellets Ltd (BRPL).

It said the deal is based on enterprise value of BRPL of Rs9 billion plus closing adjustments. The funding for the acquisition will be done from internal cash flows of Tata Steel.

Meanwhile, shares of the company were trading at Rs 392.5 apiece, up 0.03 per cent from the previous close at 14:47 hours on BSE.

Tata Steel jumps over 4% on investment plan for UK

Tata Steel jumps over 4% on investment plan for UK

08/12/2016 11:03

Shares of Tata Steel rose over 4 per cent on the Bombay Stock Exchange after the steel maker announced to invest one-billion-pound to save 8,000 jobs in the steel industry and the Port Talbot steelworks in south Wales.

Buoyed by the development, shares of company gained as much as 4.35 per cent to hit intra-day high of Rs 430.80 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company were trading 4.03 per cent higher at Rs 428.50 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,591.78, up 354.91 points, or 1.35 per cent, at 10:53 hours.

Markets extend gains; Tata Motors, Tata Steel shares advance

08/12/2016 10:16

The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking firm cues from Asian peers after US markets ended robust in overnight trade on hopes that the European Central Bank would continue its asset buying campaign at a policy meeting later in the session.

On the corporate front, Steel Authority of India, MMTC, Finolex Industries and Claris Life Sciences will remain in focus as they will unveil their financial results for the quarter ended September 30, 2016 today.

The investors are expected to keep an eye on Chinese trade data and European Central Bank’s policy review which will be announced later in the day.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 26593.57 up by 356.7 points or by 1.36 per cent, while the NSE Nifty was at 8212.45 points, trading higher by 110.4 points or by 1.36 per cent.

The BSE Sensex touched an intraday high of 26604.12 and an intraday low of 26357.35 while the NSE Nifty touched an intraday high of 8216.1 and an intraday low of 8151.75

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 462.20,+3.81 per cent), Tata Steel Ltd. (Rs. 424.70,+2.96 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 284.20,+2.56 per cent), Maruti Suzuki India Ltd. (Rs. 5240.00,+2.38 per cent), Hero MotoCorp Ltd. (Rs. 3301.00,+2.29 per cent), among others.

Meanwhile, Dr. Reddy’s Laboratories Ltd. (Rs. 3169.10,-0.51 per cent), was among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1980 shares traded, 1589 shares advanced, 317 shares declined while 74 were unchanged.

On the global front, Asian stocks were trading higher today after US markets ended robust in overnight trade on hopes that the European Central Bank would continue its asset buying campaign at a policy meeting later in the session. US stocks closed higher in the previous trading session with the Dow industrials and S&P 500 hitting record high, in broad-based rally as investors are betting that newly elected President Donald Trump’s policies would boost economic growth.

Post Session: Sensex ends higher for second day, Nifty above 8,000; broader markets outperform

23/11/2016 16:31

The Indian benchmark indices ended higher for the second day on Wednesday, supported by strong rally across Mid and Small cap space, tracking firm cues from Asian peers amid optimism that the US economy is strong enough to withstand a rise in interest rates by the Fed before the end of the year, bolstering risk taking appetite. Further, sharp sell-off in the last few trading sessions offered investors a good bargain buying opportunity in stocks, at existing levels. The market also saw some movement as traders roll over their positions ahead of Thursday’s November derivative contract expiry.

The 30-share benchmark index closed trade at 26051.81, up by 91.03 points or by 0.35 per cent, and the NSE Nifty ended at 8033.3, up by 31 points or by 0.39 per cent.

In the day’s trade, the BSE Sensex touched intraday high of 26130.49 and intraday low of 25877.16, while the NSE Nifty touched intraday high of 8055.2 and intraday low of 7973.1.

Outperforming the benchmark indices, the broader market ended on robust note with the BSE MIDCAP closing at 12042.45, up by 144.93 points or by 1.22 per cent, while the BSE SMLCAP ended at 11805.55, up by 178.75 points or by 1.54 per cent.

The top gainers of the BSE Sensex pack were Lupin Ltd. (Rs. 1487.30,+5.22%), Asian Paints Ltd. (Rs. 942.50,+3.87%), Tata Steel Ltd. (Rs. 392.35,+3.80%), NTPC Ltd. (Rs. 158.25,+2.63%), Larsen & Toubro Ltd. (Rs. 1357.85,+2.16%), among others.

On the flip side, Mahindra & Mahindra Ltd. (Rs. 1193.25,-2.02%), Housing Development Finance Corporation Ltd. (Rs. 1225.95,-1.72%), Power Grid Corporation of India Ltd. (Rs. 181.85,-1.22%), Bharti Airtel Ltd. (Rs. 300.35,-1.22%), HDFC Bank Ltd. (Rs. 1184.90,-1.04%), were among top losers on BSE.

On the sectoral front, realty and metal stocks emerged as top gainers, adding as much as 3.41 per cent and 2.32 per cent respectively.

The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2909, shares advanced were 2009 while 721 shares declined and 179 were unchanged.

Markets extend losses; Asain Paints, GAIL shares dip

11/11/2016 10:18

The key domestic benchmark indices were trading in a negative terrain in the morning trading session tracking a mixed trend across markets in Asia as investors ponder over what the priorities for the new US President Donald Trump and his administration will be, curbing risk taking appetite.

Traders will also eye the September IIP data today which may offer fresh cues over the health of Asia’s third biggest economy.

Shares of Tata Steel, Andhra Bank, Bank of Baroda, Dhanlaxmi Bank, BPCL, Indian Overseas Bank, Jet Airways, M&M and Suzlon Energy will be in focus today as these companies reveal their September quarter earnings.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27138.67 down by 379.01 points or by 1.38 per cent, while the NSE Nifty was at 8389.75 points, trading lower by 136 points or by 1.6 per cent.

The BSE Sensex touched an intraday high of 27344.85 and an intraday low of 27105.15 while the NSE Nifty touched an intraday high of 8460.6 and an intraday low of 8389.35

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 697.95,+4.65 per cent), State Bank of India (Rs. 282.05,+0.16 per cent), among others.

Meanwhile, Asian Paints Ltd. (Rs. 979.75,-3.43 per cent), GAIL (India) Ltd. (Rs. 434.00,-3.41 per cent), Hero MotoCorp Ltd. (Rs. 3040.00,-3.32 per cent), Tata Motors Ltd. (Rs. 516.85,-3.24 per cent), Housing Development Finance Corporation Ltd. (Rs. 1289.95,-3.16 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2127 shares traded, 378 shares advanced, 1671 shares declined while 78 were unchanged.

On the global front, Asian stocks were trading mixed today as traders awaited clarity on the economic policies of the Trump-led US administration amid speculation that the Dodd-Frank Act financial-sector law may be replaced with pro-growth policies, while increased US expenditure may expand the US budget gap and stoke inflation. The US markets were trading higher in the previous trading session with Dow Jones Industrial Average rising to a record high on optimism that a Trump win maybe good for the US economy amid a possible roll back of regulations, increased infrastructure spending and tax cuts for businesses.

Markets extend gains; Tata Steel, Cipla shares advance

10/11/2016 10:20

The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking strength across markets in Asia and a bullish finish at Wall Street overnight amid hopes that the new US President Donald Trump may pursue business friendly policies, bolstering risk taking appetite.

Shares of Bank of India will be in focus as it reveals its September quarter earnings while traders will react to the report card of drug firm Cipla which on Wednesday reported that Q2 net profit fell 34.8 per cent at Rs 354 crore from a year ago.

After the initial shock, traders are reassessing Trump’s win in the US Presidential elections, hoping that the 45th US President may undertake some tax cuts and fiscal stimulus, which will be good for corporate earnings and equities.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27608.7 up by 356.17 points or by 1.31 per cent, while the NSE Nifty was at 8552.75 points, trading higher by 120.75 points or by 1.43 per cent.

The BSE Sensex touched an intraday high of 27642.57 and an intraday low of 27491.93 while the NSE Nifty touched an intraday high of 8560.1 and an intraday low of 8512.9

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 430.55,+7.69 per cent), Cipla Ltd. (Rs. 562.65,+6.54 per cent), State Bank of India (Rs. 272.35,+4.85 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 294.80,+4.45 per cent), ICICI Bank Ltd. (Rs. 291.55,+3.55 per cent), among others.

Meanwhile, Asian Paints Ltd. (Rs. 1031.55,-1.88 per cent), Housing Development Finance Corporation Ltd. (Rs. 1337.75,-0.84 per cent), Infosys Ltd. (Rs. 950.80,-0.53 per cent), Lupin Ltd. (Rs. 1527.00,-0.13 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2163 shares traded, 1843 shares advanced, 260 shares declined while 60 were unchanged.

On the global front, Asian stocks were trading higher today following a strong rally at Wall Street on Wednesday amid optimism that he may pursue a pro-business friendly agenda and may increase fiscal spending to prop up US economic growth.