Tata group firm: Domestic steel manufacturing company Tata Steel’s net profit declined by 93 per cent to Rs 524.85 crore in the April-June first quarter of the current financial year. In the information given to the stock markets on Monday, the company said that its profit has decreased due to increase in expenses. Shares of the company today closed at Rs 115.25, down 1.26% on Monday.

The company had earned a profit of Rs 7,714 crore in the same quarter a year ago. The total income of the company also declined by 4.75 per cent to Rs 60,666.48 crore during the quarter under review. 63,698.15 crore in the same period a year ago. Tata Steel’s expenses rose to Rs 58,553.25 crore in the first quarter of the current financial year as against Rs 51,912.17 crore in the year-ago quarter.

The company got a contract worth ₹ 7593 crore, 5 big orders in a month, the stock became a rocket, the price was ₹ 22

T V Narendran re-appointed CEO and MD of Tata Steel
Tata Steel has appointed TV Narendran as the Managing Director and Chief Executive Officer (CEO) of the company for another term of five years. The company said in a notice to the stock markets on Monday that Narendran’s new term would begin on September 19. His current term is going to end on 18 September. Tata Steel said shareholders’ approval is yet to be obtained on the appointment. Narendran was appointed as the CEO and MD of the company in October 2017. Prior to this, he was made the Managing Director (India and South-East Asia) of the company on November 1, 2013.