Key Developments: Tata Steel Ltd (TISC.BO)
311.95INR
17 May 2013
Rs0.60 (+0.19%)
Rs323.85
Rs313.00
Rs313.50
Rs309.00
511,451
817,178
Rs454.90
Rs292.70
Latest Key Developments (Source: Significant Developments)
TATA Steel Ltd Announces Updates On Open Offer To Tata Sponge
TATA Steel Ltd announced that it has a Copy of Post Offer Announcement to the Shareholders of Tata Sponge Iron Ltd(Target Company). ICICI Securities Limited (Manager to the Offer) on behalf of Tata Steel Limited (Acquirer) has informed this Post Offer Announcement to the Equity Shareholders of Tata Sponge Iron Ltd (Target Company), in connection with the voluntary open offer to acquire 1,734,040 equity shares of the Target Company having a face value of INR10 each (Equity Shares), representing 11.26% of the Equity Share Capital of the Target (Offer) in compliance with Regulation 18 (12) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 2011, as amended (SEBI (SAST) Regulations). The detailed public statement (DPS) with respect to the Offer was published on June 22, 2012. Full Article
Tata Sponge Iron Ltd Updates On Open Offer By Tata Steel Limited
Tata Sponge Iron Ltd announced that ICICI Securities Limited (Manager to the Offer) on behalf of Tata Steel Limited (Acquirer) has informed this Opening Public Announcement to the Shareholders of Tata Sponge Iron Ltd (Target Company), in respect of the voluntary open offer to acquire 1,734,040 equity shares having a face value of INR10 each (Equity Shares), representing 11.26% of the Equity Share Capital of the Target Company (Offer). Full Article
Tata Steel Limited Disposes Stake in HKS Scrap Metals bv-DJ
Dow Jones reported that Tata Steel Limited has sold its stake in HKS Scrap Metals bv to Euro Scrap Alliance. Euro Scrap Alliance has held the remaining 50% stake of HKS Scrap Metals bv. Full Article
Tata Steel Limited Announces Voluntary Open Offer For Acquisition Of Stock Of Tata Sponge Iron Limited
Tata Steel Limited announced Voluntary Open Offer for acquisition of up to 1,734,040 equity shares of face value of INR10 each from the shareholders of Tata Sponge Iron Limited by Tata Steel Limited. Full Article
Tata Steel Limited Announces Open Offer To Shareholders Of Tinplate Company Of India For Acquisition Of Stock
Tata Steel Limited announced voluntary open offer for acquisition of up to 14,653,470 equity shares of face value of INR10 each at a price of INR60 per share from the shareholders of Tinplate Company of India Ltd constituting 14% of the equity share capital of the Target Company by Tata Steel Ltd, Pursuant to and in compliance with Regulation 6(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 2011, and subsequent amendments thereto, Acquirer is making a Voluntary Open Offer for acquisition of 14,653,470 Equity Shares at a price of INR60 per share from the shareholders of the Target Company. The total consideration for the Offer is INR8,79,208,200, which is payable in cash. Full Article
New Millennium Capital Corp. And Tata Steel Limited's Joint Venture Reports 28% Increase in DSO Project Indicated Resource Estimate Based on 2011 Drill Results
New Millennium Capital Corp. announced the results of 2011 drill program conducted by Tata Steel Minerals Canada Ltd. (TSMC), a joint venture between New Millennium and Tata Steel. Three deposits were drilled in Area 4: Kivivic 1C, Kivivic 2 and Kivivic 5. The drilling consisted of 40 exploration holes for a total of 1,991 meters resulting in a 28% increase in the indicated and 43% increase in the inferred resource estimate compared to the current resource estimate (NR 10-12). New Millennium established the estimate of additional Mineral Resources internally and was reviewed by Qualified Persons as defined by National Instrument 43-101 and who have experience with the Project and relevant expertise. Based on the 2011 drill results of deposits Kivivic 1C, Kivivic 5 and Kivivic 2, TSMC announced plans to carry out additional in-fill reverse circulation drilling in deposits Kivivic 1C, Kivivic 5, and Kivivic 2 to increase the Mineral Resources and upgrade to the Measured and Indicated category, and exploration drilling in Leroy 1. Full Article
New Millennium Capital Corp. Announces Signing By Tata Steel Limited's TSMC of Impact And Benefit Agreement With Innu Takuaikan Uashat mak Mani Utenam Of Sept-Iles, Quebec
New Millennium Capital Corp. announcd the signing of an Impact and Benefit Agreement (IBA) between Tata Steel Minerals Canada Ltd. (TSMC), a joint venture between NML and Tata Steel Limited, and Innu Takuaikan Uashat mak Mani Utenam (ITUM) of Sept-Iles, Quebec. The 'life of mine' agreement promotes and governs a mutually beneficial development of TSMC's direct shipping iron ore (DSO) project located in north eastern Quebec and western Labrador, near Schefferville, Quebec. Full Article
Tata Steel Limited Secures Profiled Steel Plate Order for Siemens Wind Towers
Tata Steel Limited (Tata Steel) announced that it has secured a contract from Siemens Wind Power to supply 25,000 tones of profiled steel plate for wind towers. The order is worth an eight figure £ sum and establishes Tata Steel as a key supplier to Siemens Wind Power. Tata Steel will deliver 25,000 tones of profiled plate (cut into the desired shape) between April and September 2012. The steel will be used to build about 150 onshore wind turbine towers. Tata Steel has already supplied Siemens Wind Power with 6,000 tones of steel plate for similar developments in the UK and Europe. Steel plate will be manufactured at Tata Steel's plate mills in Scunthorpe, and Dalzell, in Motherwell, Scotland, before being cut to size and edge-profiled at the Company's dedicated wind tower hub in Scunthorpe. The steel will be delivered to a fabricator which will form the plate into round sections before they are welded together to form the turbine tower. It is anticipated the arrangement with Siemens Wind Power will open up further opportunities for Tata Steel to supply other steel products such as hot rolled coil and hollow sections, which are also used in wind turbines. Full Article
Tata Steel Limited Cuts 115 Jobs- CNBC TV-18
CNBC TV-18 reported that Tata Steel Limited has temporarily shut down its hot strip mill partly in South Wales and has cut 115 jobs at the plant due to poor demand from within Britain. Full Article
Tata Steel Limited To Start Production In African Mines In March-Business Standard
Business Standard reported that Tata Steel Limited's Tata Steel Europe to get its own coal is set to get over with its Mozambique mines, owned jointly with Rio Tinto, scheduled to start production in March. Full Article
RPT-Fitch: Tata Steel charge highlights industry's European troubles
May 14 - (The following statement was released by the rating agency)
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