Net profit of Tata Steel reported to Rs 833.45 crore in the quarter ended September 2024 as against net loss of Rs 6196.24 crore during the previous quarter ended September 2023. Sales declined 2.94% to Rs 53489.73 crore in the quarter ended September 2024 as against Rs 55107.21 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales53489.7355107.21 -3 OPM %11.437.74 - PBDT4742.982639.56 80 PBT2146.24159.71 1244 NP833.45-6196.24 LP Powered by Capital Market - Live News

Tata Steel will hold a meeting of the Board of Directors of the Company on 6 November 2024Powered by Capital Market - Live News

Tata Steel today successfully commissioned India`s largest blast furnace at Kalinganagar, Odisha. With a total investment of Rs 27,000 crore, the Phase II expansion at Kalinganagar will take the total capacity at the site from 3 million tonnes per annum (MTPA) to 8 MTPA. The new facility was inaugurated by T. V. Narendran, CEO and Managing Director, Tata Steel, in the presence of senior leaders of the Company. The new blast furnace will significantly boost the plant`s overall production capabilities, allowing Tata Steel to meet the growing demands of various industries, including automotive, infrastructure, power, shipbuilding, and defence. It will also provide advantages in specific areas like oil & gas, lifting & excavation, and construction. With the Phase II expansion, Odisha has emerged as the largest investment destination in India for Tata Steel, with a total cumulated investment of over Rs 100,000 crore in the last 10 years. The new blast furnace, with a volume of 5,870 m3 , is equipped with state-of-the-art features for long campaign life and an eco-friendly design to optimise the steelmaking process. This blast furnace will utilise four top combustion stoves, a first in India, along with two preheating stoves for optimum specific fuel consumption in hot metal production. In a first for Tata Steel, a dry gas cleaning plant has been installed to maximise energy recovery from by-product gas. The world`s largest Top Gas Recovery Turbine (TRT) of 35 MW power generation capacity will help with the recovery of an additional 10% of energy. An evaporative cooling system is being employed for the first time in an Indian blast furnace, optimising space footprint while lowering specific water and power consumption by approximately 20% compared to conventional designs. The blast furnace will also have a zero-process water discharge plan with rainwater harvesting. Powered by Capital Market - Live News

Tata Steel announced that it has signed a �500 million Grant Funding Agreement with the UK Government allowing it to proceed at pace with the project to install a state-of-the-art Electric Arc Furnace at the Port Talbot steelworks in Wales. As the largest investment in the UK steel industry for decades, the �1.25 billion project will safeguard UK`s steel sovereignty, secure steel making in Port Talbot and preserve 5,000 jobs. The new assets will reduce the UK`s entire industrial carbon emissions by 8% (and Port Talbot`s by 90%) while setting a benchmark in circularity, utilising UK scrap. Alongside its planned �750 million investment, Tata Steel has put its significant global engineering and project capabilities behind this project, which will benefit from an additional �500 million in UK Government Grant Funding. Basic engineering is now complete, and equipment orders will be placed shortly for the Electric Arc Furnace (EAF) and ladle metallurgy furnaces, a new coil box and crop shear for the hot strip mill, a cranes package, and for construction management and civil engineering. Tata Steel has already launched public consultation on specific activities and is working closely with the authorities to apply for planning approvals by November 2024, with a view to commencing large scale site work around July 2025. The EAF is expected to be operational within three yearsDespite the challenges inherent in the transformation, the company`s workforce has demonstrated great commitment and resilience to wind down and close the Blast Furnace #5 operations and Morfa coke ovens smoothly and safely in recent months. Plans are progressing to close Blast Furnace #4 and the wider heavy-end operations at Port Talbot by the end of September, with supply chain arrangements in place to serve customers through the transition period until the EAF is commissioned.T V Narendran, Tata Steel Chief Executive Officer and Managing Director, said: �With the UK government`s critical support, this complex and ambitious transformation of Port Talbot has the potential to make the plant one of Europe`s premier centres for green steelmaking. I would like to thank the UK Steel Committee and various departments of the UK and Welsh governments for their support in reaching this agreement. We now look forward to the efficient and speedy execution of the EAF project. We will also continue our work with the Transition Board and the UK and Welsh governments to enable this project to be a catalyst for economic regeneration and job creation in South Wales.�Powered by Capital Market - Live News

Tata Steel has today i.e. 28 August 2024, acquired 178,34,39,490 ordinary equity shares of face value USD 0.157 each aggregating to USD 280 million (Rs 2,347.81 crore) in T Steel Holdings (TSHP). Post this acquisition, TSHP will continue to be a wholly owned subsidiary of the Company.Powered by Capital Market - Live News