Diabytes
Tata Steel Ltd News
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Tata Steel Ltd swung to a first-quarter profit from a loss a year ago, as sales volumes were boosted by the ramp-up of its Kalinganagar plant.
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Tata Steel Ltd has hired a team of Standard Chartered Plc bankers to help sell its loss-making UK business amid Britain`s attempt to prevent the closure of one of it`s biggest manufacturing operations, a source familiar with the matter said.
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Tata Steel Ltd said on Monday it would cut 1,050 jobs in Britain, as the biggest steelmaker in that country looks to save costs amid continued falls in the European steel price driven by a flood of cheap imports, mainly from China.
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Shares of Tata Steel Ltd today went down by nearly 5 per cent after the company's September quarter earnings failed to cheer investors.
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Tata Steel Ltd has resumed mining operations at its biggest iron ore mine after a more-than-three-month stoppage, a company spokesman told Reuters, a move that will help lower its reliance on costlier imports of the raw material.
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