Latest news with #TataSteel
Entrepreneur
an hour ago
- Business
- Entrepreneur
Tata Steel Expands Digital Platform to Empower MSMEs
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Tata Steel has rolled out a broader version of its e-commerce platform, DigECA, opening access to Micro, Small, and Medium Enterprises (MSMEs), the company announced in a press release. Previously limited to channel partners, DigECA is now aimed at emerging corporate accounts (ECAs), a category under which Tata Steel classifies MSMEs. The platform is designed to streamline how these businesses purchase flat steel products, including Tata Astrum, Tata Steelium, and Galvano. The launch marks a significant step in Tata Steel's digital strategy, building on the foundation laid by its earlier B2C portal, Aashiyana. DigECA offers MSMEs direct transactional capabilities and real-time visibility into product availability, order status, and delivery, removing the dependence on traditional distribution chains. According to the company, the intent is to offer a more efficient and transparent supply experience, tailored to the evolving needs of smaller businesses. Since its pilot in the fourth quarter of FY25, DigECA has onboarded over 2,000 ECA customers and registered notable progress in gross merchandise value. Tata Steel attributes this early growth to the platform's focus on reducing friction in the procurement process, from inquiry through to post-supply support. Prabhat Kumar, vice president, marketing & sales (Flat Products) at Tata Steel, said the expansion of DigECA is part of a larger shift toward customer-centric digital solutions. "At Tata Steel, we are committed to enhancing customer satisfaction through digital innovation," he said in a statement. "With the launch of DigECA for our ECA customers, we are simplifying the steel buying experience and strengthening their direct engagement with Tata Steel. The platform is designed to enable a more connected and efficient relationship between customers and our distribution network, helping us better align our offerings with evolving market needs." While DigECA's focus remains on flat steel products, its long-term aim appears to be more ambitious, deepening the company's presence across India's MSME ecosystem and modernizing how industrial buyers interact with major steel producers.
Time of India
10 hours ago
- Business
- Time of India
Tata Steel Share Price Live Updates: Tata Steel's recent returns indicate a downward trend
20 Jun 2025 | 08:42:48 AM IST Stay up-to-date with the Tata Steel Stock Liveblog, your trusted source for real-time updates and thorough analysis of a prominent stock. Explore the latest details on Tata Steel, including: Last traded price 151.0, Market capitalization: 188501.33, Volume: 20145922, Price-to-earnings ratio 55.11, Earnings per share 2.74. Get a comprehensive understanding of Tata Steel with our coverage of both fundamental and technical indicators. Stay informed about breaking news that can have a significant impact on Tata Steel's performance. Our expert opinions and recommendations empower you to make well-informed investment choices. Trust the Tata Steel Stock Liveblog to keep you informed and equipped in the dynamic market landscape. The data points are updated as on 08:42:48 AM IST, 20 Jun 2025 Show more
Korea Herald
2 days ago
- Automotive
- Korea Herald
HS HYOSUNG ADVANCED MATERIALS Signs Long-Term Supply MOU with Tata Steel (Thailand) for Lower-Carbon Steel Wire Materials
SEOUL, South Korea, June 18, 2025 /PRNewswire/ -- HS HYOSUNG ADVANCED MATERIALS signed a memorandum of understanding (MOU) with (Thailand) on June 18th for the procurement of lower-carbon steel wire materials. Under the agreement, HS HYOSUNG ADVANCED MATERIALS will secure a reliable supply of low-emission steel wire materials required for the production of steel tire cord. Tata Steel (Thailand), a subsidiary of India's Tata Group, uses electric arc furnace (EAF) technology to produce steel from recycled scrap metal. Compared to traditional blast furnace operations, EAF production achieves significantly higher energy efficiency and reduces carbon emissions by approximately 60%. By utilizing these materials as raw inputs, HS HYOSUNG ADVANCED MATERIALS can produce and supply eco-friendly steel tire cords with significantly reduced carbon footprints. Given their higher margins compared to traditional steel products, eco-friendly steel tire cords are expected to strengthen the profitability and competitiveness of HS HYOSUNG ADVANCED MATERIALS' steel tire cord operations. "We are pleased to formalize this agreement, which ensures long-term access to environmentally responsible steel," said Nak Yang Seong, CEO of HS HYOSUNG ADVANCED MATERIALS. "This aligns with our strategy to support global tire makers in their shift toward sustainable materials." Steel tire cords produced by HS HYOSUNG ADVANCED MATERIALS are crucial reinforcement materials that enhance tire durability and maintain shape stability. The importance of high-strength steel cords is growing alongside the expanding electric vehicle tire market. Furthermore, as demand for sustainable raw materials grows across developed markets, particularly in Europe, sales of eco-friendly steel tire cords are steadily rising. HS HYOSUNG ADVANCED MATERIALS aims to expand the sales share of its eco-friendly steel tire cord products from 5% in 2025 to 15% in 2027. HS HYOSUNG ADVANCED MATERIALS' commitment to sustainability management was recognized last October when the company received the Platinum Medal from EcoVadis — the highest distinction awarded to the top 1% of over 130,000 companies across 180+ countries by the global supply chain ESG ratings provider. In December, the company was also added to the Dow Jones Sustainable Management Index (DJSI) Korea for the second consecutive year, one of global leading ESG benchmarks.
Yahoo
2 days ago
- Business
- Yahoo
Fears Tata Steel could be excluded from Starmer's Trump tariff deal
Ministers are reportedly working to stop the UK's biggest steelmaker, Tata Steel, from being left out of tariff-free access to the US under Keir Starmer's trade deal with Donald Trump. The prime minister said on Wednesday that he hoped his deal with the US – which has been agreed but not signed – would come into effect 'in just a couple of weeks', after the US president decided to pause 50% tariffs on British steel and aluminium products for five weeks. However, the deal could end up excluding Indian-owned Tata Steel, which runs the vast Port Talbot steelworks in south Wales, because of the origin of some of its products, its bosses fear. The company exports more than $100m worth of goods into the US market every year. Tata Steel shut down its blast furnace at Port Talbot last year owing to its transition to a greener electric arc furnace. As part of that change, the company has imported steel from its sister companies in India and Europe to ship on to customers. However, this could breach US import rules that require all steel to be 'melted and poured' in the country from which it is imported. UK negotiators have been trying to secure a carve-out for Tata, according to the Times. A government source reportedly told the paper that they were confident a deal could be struck to protect Tata but said negotiations were 'complex'. The UK government has also come under pressure from the US over British Steel, which is owned by the Chinese Jingye group. In April the government used emergency legislation to take control of the site in Scunthorpe amid fears the Chinese company planned to let its blast furnaces run cold. However, US representatives are concerned that Chinese involvement in British Steel could allow Beijing to use the company as a 'back door' into the US for Chinese products, according to the Times. The US has this week doubled tariffs on foreign steel and aluminium imports to 50%, which applies to all trading partners except Britain. The rate for steel and aluminium imports from the UK will remain at 25% until at least 9 July although the exact size of Britain's steel quota is unclear. As part of Starmer's deal with Trump last month, the US agreed to cut the 25% tariff rate on British steel and aluminium exports to zero, but this has not yet been finalised. Steel manufacturers say delays to implementing the trade deal have lost them business. Speaking to MPs before the announcement, Russell Codling, a director at Tata Steel, said that about £150m of business was affected by tariffs. 'If we can get this deal enacted as quickly as possible … it will get stability for us and for our customers in the US,' he said.
Yahoo
2 days ago
- Automotive
- Yahoo
‘Vital' that British steel gets Trump tariff deal after UK-US trade pact, say unions
Steel trade unions have said it is 'absolutely vital' that the UK rapidly secures a deal to protect the sector from Donald Trump's tariffs, after the industry was excluded from an initial UK-US pact signed on Monday night. Keir Starmer and Trump signed off a UK-US trade deal at the G7 summit in Canada, with the US president saying Britain would have protection against future tariffs 'because I like them'. The car industry was relieved that tariffs on the sector will be reduced to 10% from 27.5%. The UK aerospace sector will face no tariffs at all from the US after deal, which followed an initial agreement made in May. Related: Trump says UK is protected from tariffs 'because I like them' as trade deal is signed off However, the announcement of the deal did not include the removal of tariffs on steel imports. UK steelmakers still face 25% tariffs, although this is lower than the global tariff of 50% imposed by the Trump administration on other nations. The UK business department said the two leaders had pledged to 'make progress towards 0% tariffs on core steel products as agreed'. Alasdair McDiarmid, the assistant general secretary of the steel union Community, welcomed the progress that has been made on reaching a deal on steel. 'However, it's now absolutely vital that a deal for steel is secured as soon as possible,' he said. 'Our steel producers and their US customers need an end to the current state of uncertainty to allow normal business to resume. 'Crucially, we must see a full exemption for all UK steel exports to the US – without that guarantee some of our leading steel businesses could be left behind, with a threat to jobs and livelihoods.' A steel industry source said the automotive deal had been widely expected to be completed before steel and aluminium. However, the person said 'we now need steel to happen pretty quickly' to avoid the risk of 50% tariffs kicking in on 9 July, under the terms of the UK's temporary exemption. Gareth Stace, the director general of the trade body UK Steel, said: 'We look forward to imminently benefiting from a tariff rate cut similar to that which the automotive and aerospace industries will enjoy in seven days. The UK steel industry badly needs clarification over the 'melted and poured' requirement, and the level of quotas available to UK steelmakers so that we can restore the historical trade routes that have served both the UK and the US economies for many years.' Ministers have been working to ensure the UK's biggest steelmaker, Tata Steel, is included in tariff-free access to the US. Its bosses fear the deal could end up excluding Indian-owned Tata Steel, which runs the vast Port Talbot steelworks in south Wales, because of the origin of some of its products. The company exports more than $100m (£74m) worth of goods to the US every year. The Chinese ownership of British Steel, which is under government control, could be a sticking point in a deal for the industry as the executive order signed by Trump suggests the US wants assurances that the metal originates in the UK. 'The UK also committed to working to meet American requirements on the security of the supply chains of steel and aluminium products intended for export to the US and on the nature of ownership of relevant production facilities,' the order states. Separately, British Steel has secured a new five-year supply contract with Network Rail worth more than £500m, under which British Steel will supply between 70,000 and 80,000 tonnes of rail a year. McDiarmid welcomed the extension but expressed concern that 'British Steel's share of the Network Rail contract is set to reduce significantly'. Mike Hawes, the chief executive of the Society of Motor Manufacturers and Traders, told BBC Radio 4's Today programme he hoped the new 10% tariff rate for UK carmakers would start 'in the next few days'. The UK-US trade pact had been negotiated in early May, 'but we've been waiting for it to be implemented so manufacturers can start shipping without being subject to those punitive tariffs', he said. He added that 'a lot less' had been exported to the US in the meantime, and some UK manufacturers had halted shipments. The British luxury carmakers Jaguar Land Rover and Bentley are among those that paused shipments. 'They've been pausing because their customers – we've got shrewd customers – were going to wait and see what was going to happen,' Hawes said. 'You could see that the cost to the ultimate consumer was going to come down because of the reduction in the tariff, but you just didn't know when.'
