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Tata Steel aims for a nearly 9% increase in Indian steel sales this fiscal year, leveraging expanded capacity at its Kalinganagar facility. The company is also on track to fully repay overseas subsidiary bonds by fiscal year-end, a move that has significantly reduced its exposure to currency depreciation risks and strengthened its financial flexibility for future investments. View More
Mumbai: Tata Steel is targeting a near 9% rise in steel sales in India this fiscal year, aided by additional production from its facility in Kalinganagar, Odisha, which is currently ramping up. The company commissioned an additional five million tonne capacity at this facility last year, taking the total to eight million tonne. The fresh capacity will come at a time when demand for steel is seen growing by 8-9% in 2026, largely driven by greater spending on infrastructure and urbanisation. Tata Steel sold a record 22.53 million tonne of steel in India in FY26. Tata Steel, among the world's top producers of the commodity, has manufacturing operations in the Netherlands, UK, and Thailand, besides its home market of India. The company is also targeting fully repaying outstanding bonds issued by its overseas subsidiaries by this fiscal year-end, according to senior executives. "For the last few years, we have been focusing on the onshoring of overseas debt to mitigate the rupee depreciation risks ," said chief executive officer TV Narendran and chief financial officer Koushik Chatterjee in the company's FY26 annual report . Live Events Tata Steel's overseas debt stood at 18% of its total debt last fiscal, declining from 50% in FY21, per the company. "Without this proactive onshoring, our gross debt would have been higher by ₹12,500 crore due to rupee depreciation alone," the executives said. A strengthened balance sheet is helping Tata Steel retain financial flexibility required to fund investments in growth, value-added upstream and downstream assets, as well as new technologies and decarbonisation through the business cycle, the management said. Tata Steel closed FY26 with a gross debt of ₹80,144 crore, and a net-debt-to-EBITDA ratio of 2.3 times. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
A fire erupted at Tata Steel's Port Talbot plant in the UK late Wednesday, with all personnel safely evacuated. The blaze occurred on a processing line and is unrelated to recent demolition work. Emergency services are actively working to extinguish the flames. The facility is undergoing a significant transition to an electric arc furnace. View More
Mumbai: Tata Steel said that a fire broke out at its plant at Port Talbot in the UK late on Wednesday and that all personnel at the site had been evacuated from the area safely. The fire broke out at one of the processing lines at Port Talbot, the company said on Thursday. "The incident is not related to the safe and successful demolition of the empty, redundant gas holder earlier yesterday evening," Tata Steel UK said, adding that the Mid and West Wales Fire Service attended to the site while emergency services were working with local teams to completely extinguish the fire. The 3.2 million tonne facility is transitioning to an electric arc furnace at an investment of £1.25 billion, with aid from the local government. It is expected to be commissioned by the end of 2027. Tata Steel has completed major demolition work of the blast furnaces for the transition, and is currently working on fabrication and delivery of equipment. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
The Supreme Court ruled that state governments can charge higher royalties from mining companies if laws change after a tender agreement. It upheld Karnataka's decision to deduct an additional 5% royalty from BMM Ispat's security deposit, linking payment rates to mineral movement dates. View More
Mumbai: State governments can charge higher royalty than what was stipulated in the tender agreement from mining companies if there is a subsequent change in law, the Supreme Court ruled Thursday. It validated the Karnataka government's decision to deduct an additional 5% royalty from the security deposit of BMM Ispat , linking the rate of payment to the date of movement of the minerals. A bench comprising Justices Sanjay Karol and N.K. Singh said that if the date of the movement is after the enhancement in royalty on account of change in law, a contract made before the statutory change cannot be limiting its impact, the apex court said. It set aside the Karnataka High Court's order that ruled otherwise. According to the SC , it was entirely open to BMM Ispat which operates an approximately 1 MTPA integrated steel facility in Karnataka, to remove the iron ore from the site at one go or at any date prior to the amendment, which the company chose not to do. Live Events It is BMM Ispat "who either adopted the piecemeal approach in moving the mineral or moved the entire quantity after the date of the amendment," the judges said, adding that the company cannot escape payment of enhanced royalty. The Central Government, by amendment to the Second Schedule appended to the Mines and Minerals (Development and Regulation) Act, 1957 dated September 1, 2014, revised the rates of royalty for iron ore to 15% w.e.f. the very same date, as opposed to 10% applicable on July 20, 2014, the date of the tender between the Karnataka government and BMM Ispat. However, the contract was signed prior to the amendment coming into force. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
The Mid and West Wales Fire Service responded to a fire at a processing line in Port Talbot last night around 8 pm; All personnel were safely evacuated, according to the company View More
A fire erupted at Tata Steel's Port Talbot plant in the UK. Emergency services responded swiftly to the incident. All personnel were safely evacuated from the site. The fire occurred at a processing line. Tata Steel is transitioning to a low-carbon steel-making process. Though, iron making at the site ceased in October 2024. View More
New Delhi : A fire broke out on Wednesday at Tata Steel 's UK plant, which is undergoing transition to a low-carbon steel-making process , a company statement said on Thursday. "All personnel were accounted for and evacuated from the area safely," Tata Steel UK said. The company said that Mid and West Wales Fire Service attended the Port Talbot site last night at around 8 pm (UK time) to deal with a fire at one of the site's processing lines. Also Read: Indian steelmakers grapple with resurgence of cheap Chinese imports The emergency services were working with local teams to completely extinguish the fire, Tata Steel UK said, adding that further updates will be shared as information becomes available. Live Events In October 2024, Tata Steel ceased iron making at its Port Talbot site and temporarily paused steel manufacturing, pending the construction of a 3.2 MTPA electric arc furnace. Also Read: SAIL sees limited steel price impact from Iran conflict .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Viyom Steel Infra will focus on steel products for infrastructure use, including transmission towers, monopoles, crash barriers and octagonal poles View More
Vedanta’s push to decarbonise heavy industry spans ecosystem restoration, renewable energy adoption and cleaner industrial practices View More
CMR Green Technologies' Rs 631 crore IPO is attracting significant investor attention. The issue is oversubscribed, with a strong grey market premium indicating potential listing gains. The company is a leader in non-ferrous metal recycling. Investors are showing interest in this manufacturing and sustainability-linked business. The IPO remains open for subscription. View More
The Rs 631 crore IPO of CMR Green Technologies entered its second day of subscription with a grey market premium (GMP) of around 31%. Based on the upper end of the price band at Rs 192 per share, the GMP suggests a potential listing price of approximately Rs 252. The issue witnessed strong investor interest on the first day, getting oversubscribed 2.46 times against the 2.30 crore shares on offer. The non-institutional investor (NII) segment drove demand with a subscription of 5.67 times, while the retail investor category was subscribed 2.45 times. The IPO will remain open for bidding until June 5. The Rs 630.6 crore public issue is entirely an offer-for-sale ( OFS ), meaning the company will not receive any proceeds from the offering. The price band has been set at Rs 182–192 per share, and investors can apply in lots of 78 shares. CMR Green Technologies IPO GMP Today As of June 4, 2026, the grey market premium (GMP) for the CMR Green Technologies IPO stood at around 31%. Based on the upper end of the price band of Rs 192 per share, this suggests an estimated listing price of about Rs 252. GMP refers to the premium at which IPO shares trade unofficially in the grey market before listing. It serves as an indicator of investor sentiment and potential listing gains, though it does not guarantee actual listing performance. CMR Green Technologies IPO Subscription Status The CMR Green Technologies IPO received a strong response on the first day of bidding, with the issue subscribed 2.46 times overall. The retail portion saw robust demand, as Retail Individual Investors (RIIs) subscribed 2.45 times the 1.14 crore shares reserved for them. Live Events The Non-Institutional Investor (NII) segment emerged as the strongest category, attracting bids for 5.67 times the 49.07 lakh shares set aside for the segment. Meanwhile, participation from Qualified Institutional Buyers (QIBs) remained subdued on Day 1, with bids covering just 3% of the 65.42 lakh shares allocated to them. About CMR Green Technologies CMR Green Technologies is India’s largest non-ferrous metal recycler by installed capacity and held the highest market share in the domestic secondary aluminium segment in FY25, according to an ICRA report cited in the company’s prospectus. The company operates 13 manufacturing facilities and produces recycled aluminium alloys, aluminium billets, zinc alloy ingots, and other recycled metal products. It also holds an estimated 42%–45% share in the cast alloy segment used by the automotive industry. The business is well positioned to benefit from the global shift toward recycled metals, as industries increasingly focus on low-carbon manufacturing solutions. As per the ICRA report, recycled aluminium emits significantly lower greenhouse gases compared to primary aluminium production and requires much lower capital investment. On the financial front, the company reported operating revenue of Rs 6,666 crore in FY25, reflecting a 12% year-on-year growth. Profit after tax stood at Rs 155 crore, recovering from a loss in FY24, which was primarily due to a one-time goodwill impairment charge. Ahead of the IPO, CMR Green Technologies also raised Rs 188 crore from anchor investors, including participation from domestic mutual funds, insurance companies, and foreign institutional investors. Brokerages Review Analysts have offered mixed views on the issue. Motilal Oswal highlighted CMR Green's leadership position in the aluminium recycling industry, its dominant market share and exposure to long-term sustainability and decarbonisation trends. The brokerage noted that the company is benefiting from growing demand for recycled aluminium and expansion into new segments such as extrusion and rolled alloys. Swastika Investmart has assigned a "Neutral" rating to the IPO. The brokerage said the valuation of around 27 times FY25 earnings appears reasonable relative to peers and acknowledged the company's industry leadership and strong market position. However, it flagged concerns around the issue being a pure OFS, customer concentration risks, dependence on a few key clients and relatively thin operating margins. Swastika said high-risk investors may consider the issue primarily from a listing gains perspective. The IPO comes at a time when investor appetite for manufacturing and sustainability-linked businesses remains healthy, particularly in sectors linked to recycling, resource efficiency and the circular economy. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. 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Trade barriers, energy transitions and shifting demand patterns to continue to challenge the industry: N Chandrasekaran, Chairman, Tata Steel View More
The company says India’s infra and manufacturing build-out could drive domestic steel demand up by more than 80 per cent to over 300 million tonnes View More