According to Mr HM Nerurkar MD of TATA Steel, TATA Steel plants are running at their peak capacity but the prices for the products are on the lower side, because of global overcapacity. Mt Nerurkar however optimistic that the positive news for the industry was the restoration of almost normal demand conditions in the global steel market. According to Mr Nerurkar, the GDP growth rate is good, the demand for…

TATA Steel will hold its board meeting on Monday to consider a proposal to restructure Centennial Steel Company, a wholly owned subsidiary of TATA Steel. Centennial Steel was incorporated by TATA Steel in August 2009 to jointly implement the expansion of capacity at Jamshedpur by 2.9 million tonne per annum to 9.7 million tonne per annum. In FY'10, TATA Steel transferred capital work worth INR 1,640 crore…

Wales Online reported that an ecstatic Mr Carwyn Jones has returned from a trade mission to India with the promise of up to GBP 800 million investment in Wales from TATA Steel over the next five years. The announcement follows a meeting in Mumbai between Mr Jones and TATA vice chairman Mr Balasubramanian Muthuraman. Mr Jones said that "I was delighted to meet Mr Muthuraman and to reaffirm personally the…

BS reported that TATA Steel has started preparation to begin underground chromite mining at its leasehold area in Sukinda valley in jajpur district. The company had been excavating chrome ore from its mines in the area for nearly half a century by open cast method. Mr HM Nerurkar MD of TATA Steel said while flagging off the preparatory work for the underground mining at Sukinda said that “Mining at SCM…

TVS Motor Company registered total sales of 170,097 units in September 2012 against 219,369 units registered in September 2011. Higher sales of the previous year can be attributed to the onset of the festival season which falls in the month of November this year. Total two wheeler sales stood at 165,092 units in September 2012 in comparison with 215,690 units recorded in September 2011. The company reported…

BS reported that TVS Motor and Sundaram Clayton Limited part of the USD 5 billion TVS Group, together are planning to invest around INR 770 crore in their facilities at Hosur, near Bangalore, in Tamil Nadu. A memorandum of understanding (MoU) to this effect is expected to be signed with the Tamil Nadu government shortly. According to the Reserve Bank of India’s data, TVS Motor has pumped in an additional…

Two wheeler firm TVS Motor Company said it will ramp up three wheeler production capacity by 2,000 units per month by the end of April 2012. Mr HS Goindi president (marketing) of TVS Motor on the sidelines of the annual SIAM summit told reporters that "Currently we are producing 6,000 units of three wheelers every month. We are increasing it to 8,000 units a month by April next year.” In August, the company…

Tata Metaliks Ltd is working on its "next phase" of growth to transform itself into a full-fledged ductile iron (DI) pipe producer from a pig iron maker. The Calcutta-based company plans to finalise its strategy to expand its DI pipe capacity and allied facilities within the next few months. Koushik Chatterjee, chairman of Tata Metaliks, said the company would consider its existing site at Kharagpur in…

Tata Motors is ceasing its operations in the Spanish unit of its wholly owned subsidiary Tata Hispano Motors Carrocera SA and is looking for a buyer, Livemint states. The decision to sell the plant situated in Zaragoza comes in the wake of slowdown across Europe resulting in mounting losses and falling demand. Earlier BL had reported that the company, formerly Hispano Carrocera, has also received an offer…

Tata Motors is narrowing the gap with homegrown rival Mahindra & Mahindra (M&M) to challenge the position of third biggest pa++ssenger vehicle maker in India by sales. According to the latest SIAM data, Tata Motors is just 1,313 units shy of M&M during April-August this fiscal in the PV segment, which continued to be dominated by Maruti Suzuki India (MSI). In the reported period, M&M sold a total of…