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Tata Steel Ltd (TISC.BO)

TISC.BO on Bombay Stock Exchange

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Latest Key Developments (Source: Significant Developments)

TATA Steel Ltd to cut 1,200 jobs at Scunthorpe -UK union source - Reuters
Thursday, 15 Oct 2015 08:00pm EDT 

TATA Steel Ltd:Tata Steel is expected to cut around 1,200 jobs at its Scunthorpe plant, a union source said on Friday as the government convened a crisis summit on the sector - Reuters.Scunthorpe, which produces steel mainly used in construction and infrastructure projects, is part of Tata Steel's loss-making long products unit, which the company is trying to sell. The unit employs about 6,500 people - Reuters.A Tata Steel spokesman said: "We've made a number of structural changes to our UK business over the last months and years to make us more competitive - Reuters.British media reports on Friday said jobs were also at risk at Tata Steel operations in Scotland - Reuters.Commenting, the Unite union said: "Time is ticking on the UK’s steel industry and the news of yet more job losses should jolt the government out of its laissez-faire approach to this vital part of the UK economy." - Reuters.The sector employs fewer than 20,000 people, down from 200,000 in the 1970s - Reuters.  Full Article

TATA Steel Ltd announces sale of equity shares of Tata Motors Ltd
Friday, 18 Sep 2015 02:00am EDT 

TATA Steel Ltd:Says that this is to inform you that the company as part of its portfolio restructuring has on Sept. 18, sold 3,85,20,801 shares of Tata Motors Ltd to institutional investors over stock exchange for total consideration of 12.5069 bln Indian rupees.  Full Article

Tata Steel to cut as many as 250 jobs in South Wales - The Guardian
Tuesday, 25 Aug 2015 02:30pm EDT 

TATA Steel Ltd:Tata Steel is to cut as many as 250 jobs at Llanwern in south Wales, leading to warnings that the future of the industry in Britain is under threat - The Guardian.  Full Article

TATA Steel Ltd says 720 UK jobs could become redundant - Business Standard
Thursday, 16 Jul 2015 09:56am EDT 

TATA Steel Ltd:Says there seems to be no respite for Tata Steel's European operations - Business Standard.No sooner did the steel producer rescue itself from the brink of the biggest industrial dispute in 35 years, has identified 720 jobs that could become redundant following restructuring plans at its speciality and bar business in the UK division.  Full Article

UK unions suspend industrial action after TATA Steel Ltd offer - Business Standard
Tuesday, 16 Jun 2015 08:00pm EDT 

TATA Steel Ltd:Says UK trade unions have temporarily suspended industrial action at Tata Steel, as the company has made a new offer to the negotiators - Business Standard.Says Unions had started the industrial action, which included overtime ban and work to rule.Says Trade unions representing workers of Tata Steel in the UK had announced strike action on June 22.Says on June 14, Tata Steel had said the firm had approached British conciliation service ACAS in a bid to resolve the pension dispute with the trade unions.  Full Article

TATA Steel Ltd recommends dividend
Wednesday, 20 May 2015 07:54am EDT 

TATA Steel Ltd:Recommends dividend of 8 Indian rupees per Equity (Ordinary) Share of 10 Indian rupees each to the shareholders for the year ended March 31.  Full Article

TATA Steel Ltd's Tata Steel Minerals Canada Ltd acquires balance 49 pct participating interest in Howse Deposit
Friday, 3 Apr 2015 01:02am EDT 

TATA Steel Ltd:Tata Steel Minerals Canada Ltd, through its subsidiary Howse Minerals Ltd acquired the remaining 49 pct stake in the Howse iron ore deposit by exercising its rights under the terms of the joint venture agreement entered in Sept. 2013 with Labrador Iron Mine Holdings Ltd.Howse Minerals Ltd which held 51 pct interest in the Howse deposit has acquired the remaining 49 pct participating interest for C$5 mln.  Full Article

TATA Steel Ltd divests stake in Lanka Special Steels Ltd
Tuesday, 31 Mar 2015 12:56pm EDT 

TATA Steel Ltd:Divested its entire stake in Lanka Special Steels Limited (LSSL) to E.B. Creasy & Company PLC (EBCC) for a total consideration of 433 mln Sri Lankan rupee in an all cash deal.LSSL was a wholly owned subsidiary of Tata Steel incorporated in Sri Lanka.  Full Article

TATA Steel Europe to acquire Nordic strip products service centres
Thursday, 12 Feb 2015 05:24am EST 

Tata Steel Europe:Announced the acquisition of three service centres in Sweden, Finland and Norway to strengthen its offering to manufacturers in the Nordic region.Tata Steel Europe has reached an agreement with steel producer SSAB to buy its strip products service centres at Halmstad in Sweden and Naantali in Finland.Tata Steel Europe will also acquire from SSAB the remaining 50 pct stake it does not already own in Norsk Stal Tynnplater AS, another strip products service centre based in Fredrikstad, Norway.Says the three centres process strip products offering services such as cutting-to-length, slitting and recoiling.  Full Article

TATA Steel’s European business signs MOU with Klesch Group
Wednesday, 15 Oct 2014 09:58pm EDT 

TATA Steel Ltd:Announces the signing of a Memorandum of Understanding (MOU) with Klesch Group to undertake detailed due diligence and negotiations for the potential sale of its Long Products Europe business and associated distribution activities.Says the memorandum covers several UK-based assets including Tata Steel’s Scunthorpe steelworks, mills in Teesside, Dalzell and Clydebridge in Scotland, an engineering workshop in Workington and a rail consultancy in York, as well as other operations in France and Germany.  Full Article

UPDATE 1-UK Stocks-Factors to watch on Sept 29

Sept 29 Britain's FTSE 100 index is seen opening up around 61 to 70 points, or as much as 1 percent, on Thursday, according to financial bookmakers, with futures up 0.97 percent ahead of the cash market open.