India's Tata wants more profit from Corus UK -paper
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Tata Steel  Chairman Ratan Tata wants to make the UK operations of Anglo-Dutch group Corus  more profitable and cannot rule out job cuts, he told the Financial Times in an interview.
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India's Tata Steel is set to become the world's fifth-biggest steelmaker after winning a bid battle for Anglo-Dutch steelmaker Corus Group by agreeing to pay 5.75 billion pounds ($11.3 billion).
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The steel group Corus today announced pre-tax profits of Â£163m for the six months to the end of June - its first interim profits since its formation in 1999.
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(InfoWorld) - India's largest outsourcer, Tata Consultancy Services (TCS), reported Monday strong growth in revenue and profit, despite theÂ appreciation of the Indian rupeeÂ against the U.S. dollar and higher staff costs in India. The company reported for the quarter ended June 30 revenue of 52 billion rupees ($1.28 billion), up 25.6 percent from the same quarter a year ago. The company's profit for the quarter was 11.8 billion rupees, up 37.4 percent from the same quarter in the previous year. TCS' revenue and profit were, however, flat in rupee terms in the quarter to June 30 in comparison to the previous quarter ended March 31, reflecting the appreciation of the rupee against the dollar. Revenue and profit, however, grew 8 percent quarter-on-quarter in dollar terms. The company added 54 clients and 5,512 employees during the quarter, taking the number of employees to 94,902. Staff attrition rate in the quarter was 11 percent in its IT services business, with the attrition rate higher at 16.7 percent in its business process outsourcing (BPO) business. TCS, of Mumbai, said its net margins were not affected despite the rupee appreciation and a planned wage increase during the quarter, because of better cost management, currency hedging and productivity increases. A strong rupee affects margins of Indian companies as it brings down the value of foreign revenue in terms of rupees, even as costs incurred in India, such asÂ staff costs, are going up. India's second largest outsourcer,Â Infosys Technologies, reportedÂ last week a 40.6 percent growth in revenue and 51 percent growth in profits in the quarter. India's software and services exports are projected to grow by 26 percent to 29 percent to about $40 billion in the fiscal year to next March 31, India's National Association of Software and Service Companies said this month.
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India's biggest private steel firm Tata Steel is in talks to acquire Anglo-Dutch steel giant Corus Group in a deal anticipated to be worth more than 10 billion dollars, newspaper reports say.
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LONDON : Anglo-Dutch steelmaker Corus reported the first profit since its birth in 1999 thanks to cost cuts, rising metals prices and strong demand, notably from China.
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India's Tata Steel sees its quarterly profits rise 41% as the construction boom in India fuels demand for its products.
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Anglo-Dutch steelmaker Corus CS.L   CS.AS met forecasts with a 32 percent decline in first-half   core earnings but its shares fell after it warned there was no   sign of a let-up in cost pressures.
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Shares in India's Tata Steel have plunged more than four percent after it raised an offer to buy Anglo-Dutch steelmaker Corus by nearly 10 percent.
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High steel prices helps the UK's biggest steelmaker Corus to report a profit for the first six months of 2004.
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India's Tata Steel is widely expected to raise its offer for steelmaker Corus ahead of a takeover deadline.
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Tata Steel of India has bought Anglo-Dutch producer Corus for 13.7 billion dollars, beating Brazilian rival CSN in an auction that highlighted the growing global clout of emerging market companies.
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India's Tata Group is interested in acquiring Ford Motor Co's  Jaguar and Land Rover brands, the Indian conglomerate's chairman Ratan Tata said in remarks released on Friday.
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If India's Tata Group drives off with US auto giant Ford's iconic British brands Jaguar and Land Rover, it would be another feather in its cap after buying European steelmaker Corus earlier this year.
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India's Tata Communications Ltd. said Wednesday it plans to invest $2 billion over the next three years to fuel global expansion.
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Shares in India&#39;s Tata Consultancy Services Ltd. (TCS.BO: Quote, Profile, Research) jumped 16 percent on their market debut on Wednesday
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NEW DELHI -- India's Tata Steel said Wednesday it outbid Brazilian rival CSN to take over European steelmaker Corus Group PLC, offering $11.3 billion for the biggest-ever acquisition by an Indian company.