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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Tata Steel Limited    TATASTEEL   INE081A01012

End-of-day quote. End-of-day quote  - 09/21
686.35 INR   -0.16%
10:06p TATA STEEL : merger deal takes a step forward
10:06p TATA STEEL : Retired steelworkers oppose pension changes
02:41p TATA STEEL : 4,000 jobs at risk in Tata Steel merger
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Tata Steel : merger deal takes a step forward

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09/21/2017 | 10:06pm CEST

TATA Steel and German firm Thyssenkrupp have taken the first step towards a merger deal by signing a memorandum of understanding.

The companies said the move will lead to the creation of a leading European steel enterprise.

Merger talks started around 18 months ago after Tata decided not to sell its UK steel business.

The flat steel businesses of the two companies in Europe and the steel mill services of the Thyssenkrupp group will merge in the proposed 50:50 joint venture.

The companies employ around 48,000 workers, with Tata owning UK plants including at Shotton, which employs around 700 workers, and Port Talbot in South Wales, where 4,000 staff work.

Andrew Robb, chairman of Tata Steel Europe, said: "Today's announcement marks the latest step in building a future for Tata Steel's activities in Europe which is sustainable in every sense.

"Both Tata Steel Europe and Thyssenkrupp share a vision of supplying the most advanced quality products and services to customers in the world's most demanding markets.

"The combination of our two businesses would provide the strongest possible foundation for achieving this vision, creating a global leader for the long term."

Unions cautiously welcomed the announcement, but will seek commitments on jobs and investment.

The news followed pension changes which were agreed by Tata's employees.

Business Secretary Greg Clark said the announcement was an "important step" for the steel industry.

He said: "The Government has been working hard with the unions to secure a sustainable future for Tata Steel in the UK, its 4,000 employees at the Port Talbot site and its supply chain.

"Today's agreement between Tata Steel and Thyssenkrupp is an important next step in establishing their shared ambition for Port Talbot as a world-class steel manufacturer, with a focus on quality, technology and innovation."

© Copyright 2017 Flintshire Chronicle, All Rights Reserved., source Newspapers

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Financials ( INR)
Sales 2018 1 242 B
EBIT 2018 132 B
Net income 2018 51 304 M
Debt 2018 739 B
Yield 2018 1,32%
P/E ratio 2018 12,89
P/E ratio 2019 10,61
EV / Sales 2018 1,13x
EV / Sales 2019 1,08x
Capitalization 668 B
Chart TATA STEEL LIMITED
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Tata Steel Limited Technical Analysis Chart | TATASTEEL | INE081A01012 | 4-Traders
Technical analysis trends TATA STEEL LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 662  INR
Spread / Average Target -3,7%
EPS Revisions
Managers
NameTitle
Natarajan Chandrasekaran Chairman
Koushik Chatterjee Chief Financial Officer & Group Executive Director
Shreekant Mokashi Chief-Group Information Services
Ashok Kumar Chief Technology Officer-Process
Vinay V. Mahashabde Chief Technical Officer-Flat Products
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