
Tata Steel stock dips as co posts highest quarterly loss in Q2 at ₹6,511 cr
Tata Steel takes impairment charge of ₹6,358 cr in Q2 FY24 for decarbonisation project at Port Talbot plant in the UK
Tata Steel takes impairment charge of ₹6,358 cr in Q2 FY24 for decarbonisation project at Port Talbot plant in the UK
The delivery volumes declined from 4.91 million tons in Q2 last year to 4.82 million tons in the September quarter this year.
Ailing Port Talbot unit’s transition to green steel set-up with 40% revival cost borne by Britain.
Moody's has also changed the outlook of Tata Steel from ‘stable’ to 'positive.'
The credit rating agency also changed the company's outlook to 'stable' from 'positive'.
The proposed project would involve Tata Steel’s balance sheet being restructured with potential elimination of the current cash losses in the UK operations
The Tata Group firm is in negotiations with the British government to raise capital to secure the future of Port Talbot steelworks in South Wales.
The UK subsidiary asked for a financial package of £1.5 billion, but the government offered £300 million and is in talks for increasing the aid.
Companies have the intent to hire people with varied sexual orientations, physical disabilities, and neuro diversities. However, only the top firms are walking the talk.
The share price of the steel major rebounded 2.5% to ₹118.40, after falling nearly 1% in opening trade on the BSE.