Merger of seven subsidiaries with Tata Steel to be completed by FY24, says CEO Narendran (2024)

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Merger of seven subsidiaries with Tata Steel to be completed by FY24, says CEO Narendran? ›

The merger of 7 subsidiary companies with Tata Steel is expected to be completed in 2023-24 fiscal year, its CEO and managing director T V Narendran said. In September 2022, Tata Steel board had approved a proposal to merge six of its subsidiaries into itself for greater synergies, higher efficiency and reduce costs.

These companies include: Tata Steel Mining Limited with an annual turnover of ₹5,000 crore in FY23, merged effective September 1, 2023; Tata Steel Long Products Limited with an annual turnover of ₹7,464 crore in FY23, merged effective November 15, 2023, S&T Mining Company Limited merged effective December 1, 2023; The ...

The merger of five companies with a cumulative annual turnover of ~Rs 19,700 cr in FY23, in record time, presents a unique opportunity for consolidation of the downstream operations. This will enable growth in value added segments by leveraging Tata Steel's nationwide marketing and sales network.

T. V. Narendran, CEO & Managing Director of Tata Steel Limited was the President of the Confederation of Indian Industry (CII) for the year 2021-22. In May 2022, He was succeeded by Sanjiv Bajaj as the President of CII. On 31 October 2017, he was appointed as the global CEO and MD of Tata Steel.

"In terms of the Scheme of Amalgamation, the Board has approved Friday, January 19, 2024, as the Record Date for the purpose of determining the shareholders of Tinplate Company of India who shall be entitled to receive fully paid-up ordinary equity shares of Tata Steel in the share exchange ratio as per the scheme of ...

The boards of Tata Motors, Tata Capital, and Tata Motors Finance have approved a merger of Tata Motors Fin with Tata Capital through an NCLT (National Company Law Tribunal) scheme of arrangement, Tata Motors said on Tuesday.

There are 5 analysts who have given it a strong buy rating & 9 analysts have given it a buy rating. 3 analysts have given the stock a sell rating.

The market capitalisation of the company stood at Rs 1,63,922.32 crore at around the same time. Tata Steel shares traded over 1 per cent higher on the record date of its merger with Tinplate Company of India Ltd.

Who is next CEO of Tata? ›

Natarajan Chandrasekaran is Chairman of the Board at Tata Sons, the holding company and promoter of all Tata Group companies.

Hirabai Daboo was the beloved spouse of Jamsetji Tata, the visionary entrepreneur behind the establishment of the illustrious Tata Group, a leading conglomerate in India. Together, they nurtured a family and welcomed children into their lives, including their notable sons, Dorabji Tata and Ratanji Tata.

NEW DELHI: Tata Motors has roped in Marc Llistosella as chief executive officer (CEO) and managing director of the company effective 1 July 2021. Llistosella will replace current CEO Guenter Butschek, who had expressed his desire to relocate to Germany at the end of the contract for personal reasons.

GM Wei Yi became the winner of the 2024 Tata Steel Chess Tournament on Sunday after winning a thrilling four-player tiebreak that also involved GMs Anish Giri, Gukesh Dommaraju, and Nodirbek Abdusattorov.

“Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has fixed Friday, June 21, 2024, as the Record Date for determining the Members entitled to receive the dividend for the financial year ended March 31, 2024," it said.

Summary of TATASTEEL Share Price Forecast for 2025

With favorable market conditions, the mid-year price target for Tata Steel Ltd could reach ₹255. By the end of 2025, the price target for Tata Steel Ltd is expected to potentially reach ₹305, considering bullish market trends.

Tata Steel had acquired the UK plant as part of its acquisition of the Corus Group in April 2007 for 6.2 billion pounds and since then, the unit has hardly made any money for the Indian company.

Tata Steel acquired Corus in a $12-billion acquisition, in what was the biggest foreign acquisitions by an Indian company. In the first quarter of 1992-93, when Ratan Tata was still new to his role of Tata Steel chairman, the company had posted a meagre profit.

Through the Scheme of Amalgamation, Tata Steel acquired 72.65% of the equity share capital of Tata Steel BSL via Bamnipal Steel, with the public holding the remaining 27.35%. Once this acquisition was complete in November 2021, Bamnipal Steel ceased to be a separate legal entity as it was incorporated into Tata Steel.