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India Gazette
10-05-2025
- Business
- India Gazette
Fitch affirms Tata Steel with a negative outlook
New Delhi [India], May 10 (ANI): Fitch Ratings has affirmed Tata Steel Limited's (TSL) Issuer Default Rating (IDR) at 'BBB-' with a 'negative' outlook, and the senior unsecured rating at 'BBB-', the rating agency said in a statement. Concurrently, Fitch has withdrawn Tata Steel Limited's ratings. On Friday, Fitch said it has chosen to withdraw Tata Steel's ratings for 'commercial reasons'. The 'negative' outlook, according to the rating agency, reflects the risks of a sustained weakening in Tata Steel's financial profile from a persistent oversupplied steel industry market and a prolonged period of EBITDA volatility at the company's European operations from restructuring plans. The rating agency projects a near-term EBITDA weakness in India, on account of pricing and margin pressure from higher volumes of low-cost imports, and in Europe from weak demand, high imports and delayed restructuring of the UK operations. Fitch forecasts Tata Steel's standalone EBITDA margins to improve to around Rs 15,000 per tonne in 2025-26 (Fitch estimate 2024-25: Rs 13,500 per tonne). The central government imposed 12 per cent safeguard duties on certain steel imports for 200 days in April. 'We expect these duties to aid pricing growth, but to a lesser extent than 12 per cent, given risks to consumption from a full pass-through, and of further weakness in import prices,' Fitch said. 'Nonetheless, steady volume growth, moderation in iron ore and coking coal costs, and improving industry demand-supply will also support margin improvement.' On the tariffs imposed on India's steel imports by the US, Fitch said it will have a limited impact on India. 'We also believe that the 25% tariff imposed by the US on India's steel imports will have limited direct impact on Indian steelmakers, given their minimal exposure to US exports,' Fitch argued. Tata Steel Limited is among the largest steelmakers in India, with a capacity of around 22 million tonnes per annum and a flat-product-focused portfolio. It also has 7 million tonnes per annum of steelmaking capacity in the Netherlands, 5 million tonnes per annum in the UK and around 2 million tonnes per annum in Thailand. (ANI)
Mint
05-05-2025
- Automotive
- Mint
Small-cap stock with just ₹1,240 crore market cap bags ₹1,764 crore order from Tata Steel. Details here
Multibagger small-cap stock: Shares of BMW Industries, a leading manufacturer in the downstream steel sector, jumped 20% in Monday's trading session, to hit the day's high of ₹ 55.28 apiece. This sharp rise in the stock came after the company announced that it had secured a significant order from Tata Steel. The company informed investors through an exchange filing during today's mid-session that it had received a work order from Tata Steel Limited for the processing and conversion of coils, worth ₹ 1,764 crore. 'The company has received a work order from Tata Steel Limited for 'Processing and Conversion of Coils' at our Jamshedpur works for a period up to 31.03.2029, amounting to Rs1,764 crore (Rupees One Thousand Seven Hundred Sixty-Four Crore approximately),' the company said in the filing. This order is larger than the company's market capitalization of ₹ 1,244 crore as of today. In mid-March, the company had announced an ₹ 800 crore capital expenditure for setting up a greenfield downstream steel complex in Bokaro, Jharkhand, which will be funded through a mix of internal accruals and debt. According to the company, the proposed project involves the development of a downstream steel complex with an annual production capacity of 300,000 TPA of cold rolled full hard coils/sheets, 540,000 TPA of galvanized coils/sheets, and 200,000 TPA of color-coated coils/sheets. The project will be located in Bokaro, Jharkhand. The company already possesses the required land, which is designated for industrial use and will serve as the site for this greenfield project. Meanwhile, in March, the company signed a Memorandum of Understanding (MoU) with the Ministry of Steel under the Production Linked Incentive (PLI) Scheme 1.1 for specialty steel. The company's shares have rebounded this month, gaining 18% so far, after remaining sideways for nine consecutive months (between August 2024 and March 2025), during which they lost 35.65% of their value. Prior to the decline, the stock had rallied between June 2023 and August 2024, delivering a stellar gain of 186%. Despite the recent correction, the stock remains up by 332% over the past five years. BMW Industries is one of the leading manufacturers in the steel sector, engaged in the production of HRPO coils, CR coils, GP coils, GC sheets, MS and GI pipes, TMT rebars, and also provides processing services for marquee steel players in India.
Business Upturn
05-05-2025
- Automotive
- Business Upturn
BMW Industries secures Rs 1,764 crore work order from Tata Steel for Jamshedpur unit
By Aditya Bhagchandani Published on May 5, 2025, 14:57 IST BMW Industries Limited has announced that it has received a significant work order from Tata Steel Limited for the processing and conversion of coils at its Jamshedpur facility. The contract, valued at approximately ₹1,764 crore, will span a period extending up to March 31, 2029. The company disclosed this development in a regulatory filing under SEBI's Listing Obligations and Disclosure Requirements (LODR). It clarified that the order is part of the company's ordinary course of business and is expected to contribute meaningfully to its revenue over the duration of the contract. This long-term engagement strengthens BMW Industries' position as a key processing partner for Tata Steel and reflects continued trust in its operational capabilities. The Jamshedpur works will remain a critical site for delivering on this mandate. The announcement has been shared with both BSE and the Calcutta Stock Exchange for investor awareness and compliance. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Mint
05-05-2025
- Automotive
- Mint
Small-cap stock with just ₹1,240 crore market cap bags ₹1,760 crore order from Tata Steel. Details here
Multibagger small-cap stock: Shares of BMW Industries, a leading manufacturer in the downstream steel sector, jumped 20% in Monday's trading session, to hit the day's high of ₹ 55.28 apiece. This sharp rise in the stock came after the company announced that it had secured a significant order from Tata Steel. The company informed investors through an exchange filing during today's mid-session that it had received a work order from Tata Steel Limited for the processing and conversion of coils, worth ₹ 1,746 crore. 'The company has received a work order from Tata Steel Limited for 'Processing and Conversion of Coils' at our Jamshedpur works for a period up to 31.03.2029, amounting to Rs1,764 crore (Rupees One Thousand Seven Hundred Sixty-Four Crore approximately),' the company said in the filing. This order is larger than the company's market capitalization of ₹ 1,244 crore as of today. In mid-March, the company had announced an ₹ 800 crore capital expenditure for setting up a greenfield downstream steel complex in Bokaro, Jharkhand, which will be funded through a mix of internal accruals and debt. According to the company, the proposed project involves the development of a downstream steel complex with an annual production capacity of 300,000 TPA of cold rolled full hard coils/sheets, 540,000 TPA of galvanized coils/sheets, and 200,000 TPA of color-coated coils/sheets. The project will be located in Bokaro, Jharkhand. The company already possesses the required land, which is designated for industrial use and will serve as the site for this greenfield project. Meanwhile, in March, the company signed a Memorandum of Understanding (MoU) with the Ministry of Steel under the Production Linked Incentive (PLI) Scheme 1.1 for specialty steel. The company's shares have rebounded this month, gaining 18% so far, after remaining sideways for nine consecutive months (between August 2024 and March 2025), during which they lost 35.65% of their value. Prior to the decline, the stock had rallied between June 2023 and August 2024, delivering a stellar gain of 186%. Despite the recent correction, the stock remains up by 332% over the past five years. BMW Industries is one of the leading manufacturers in the steel sector, engaged in the production of HRPO coils, CR coils, GP coils, GC sheets, MS and GI pipes, TMT rebars, and also provides processing services for marquee steel players in India. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions. First Published: 5 May 2025, 03:19 PM IST
Associated Press
12-02-2025
- Business
- Associated Press
India Steel Market Report 2024: Substantial Growth by 2030, Reaching $166.96 Billion with JSW, Tata Steel, Steel Authority of India Limited (SAIL), Jindal Steel & Power, and ArcelorMittal Dominating
The 'India Steel Market, By Region, Competition, Forecast and Opportunities, 2020-2030F' report has been added to offering. The Indian steel market is forecasted to experience a significant rise in value, from USD 102.67 billion in 2024 to an estimated USD 166.96 billion by 2030, advancing at a Compound Annual Growth Rate (CAGR) of 8.28%. This growth is attributed to the steel industry's pivotal role in various sectors including construction, automotive, and manufacturing. Steel's unique combination of strength, durability, and versatility make it a fundamental material for development projects, as well as a subject of continuous innovation to meet environmental sustainability standards. Government Initiatives Promoting Market Expansion Government policies have been instrumental in the market's upward trajectory, notably the National Steel Policy (NSP) aimed at increasing production capacity, enhancing quality, and reducing carbon emissions by 2030. Furthermore, programs like Make in India and the Atmanirbhar Bharat (Self-Reliant India) campaign have spurred the growth of domestic steel usage and innovation, thereby catering to a surge in infrastructure and manufacturing demands. Technological Innovations in Production Indian steel production has been transformed by the adoption of state-of-the-art technologies such as the Basic Oxygen Furnace and Electric Arc Furnace methods, leading to significant improvements in efficiency and sustainability. These methods have not only reduced emissions but have also facilitated the production of specialized high-strength steels. India's push for technological excellence is enabling its steel industry to compete globally and address domestic needs more effectively. Global Trade Dynamics Impacting Exports India's expanding role in the international steel trade is evident in the growth of its exports. Strategic government actions to increase competitiveness, along with rising infrastructure demand globally, have positioned India as a lucrative exporter. Despite facing challenges from international trade policies, the country's commitment to quality production and cost-effectiveness maintain its resilience in the global market. Regional Market Insights Regionally, North India has taken the lead in the Indian steel market with significant industrialization and infrastructure development. The region benefits from close proximity to raw material sources, a robust industrial base, and government policies supportive of industrial and infrastructure projects. Leading Market Players The market is bolstered by key players such as JSW Group, Tata Steel Limited, Steel Authority of India Limited (SAIL), Jindal Steel & Power Limited, and ArcelorMittal India, among others. These companies are continuously innovating and expanding their capabilities to meet the evolving demands of a dynamic market landscape. The Indian steel market's noteworthy ascent is indicative of the industry's strategic importance and its potential contribution to the country's economic development. With substantial investments, technological advancements, and a focus on sustainability, the steel industry in India is poised for impactful growth over the coming decade. Key Attributes: Report Attribute Details No. of Pages 70 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $102.67 Billion Forecasted Market Value (USD) by 2030 $166.96 Billion Compound Annual Growth Rate 8.2% Regions Covered India Companies Featured JSW group Tata Steel Limited Steel Authority of India Limited (SAIL) Jindal Steel & Power Limited ArcelorMittal India Private Limited Outokumpu POSCO Rashtriya Ispat Nigam Limited For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on Laura Wood, Senior Press Manager For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: INDIA ASIA PACIFIC INDUSTRY KEYWORD: STEEL MANUFACTURING Copyright Business Wire 2025. PUB: 02/12/2025 10:08 AM/DISC: 02/12/2025 10:08 AM
