TISCO TO ACQUIRE TATA SSL UNIT AT TARAPUR
Article Abstract:
The Tarapur unit of the Rs776-crore Tata SSL Ltd is to be acquired by the Rs6,516-crore Tata Iron and Steel Company Ltd (TISCO). TISCO holds 41 percent stakes in Tata SSL, while the balance is held by financial institutions and the public. Tata SSL posted a net loss of Rs4.58 crore in 1997-98. The Tarapur unit makes cold rolled products such as wires. TISCO produces hot rolled coils and is putting up a 1.2 million tonne cold rolling unit at Jamshedpur which is scheduled for commissioning by mid 2000 AD. (nr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TISCO H1 NET PLUNGES 45%
Article Abstract:
The net profit of Tata Iron and Steel Company Ltd (Tisco) has declined by 45 percent to Rs370.26 crore for the first half of 1998-99. Net sales fell by six percent to Rs2,817.53 crore from Rs3,016.20 crore. Tisco has been able to increase its sales tonnage by four percent despite competition in both domestic and international markets. The lower profitability is attributed to the continued recession in the economy.(uh)
Comment:
The net profit of Tata Iron and Steel Company Ltd (Tisco) has declined by 45 percent to Rs370.26 crore for the first half of 1998-99.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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