Reporter Raquel Camila

Tata Steel Long Products has seen a decent correction from the recent peak even though the business prospects continue to look up. TATA Steel - Usha Martin LTD There is a debt reduction plan that is underway and also the company's core business is ramping up rather well. “Q4 prices would be better than Q3,” said Ashish Anupam, MD of Tata Steel Long Products in an interview with CNBC-TV18. “If I look at the Q4 from the demand perspective, demand looks to be good, automotive is good, other segments like construction and the other businesses which we do, demand looks stable. Q4 prices are looking better than what they were in Q3,” he said. The company has been focusing on debt reduction for the current financial year. It will continue to focus on debt reduction for Q4 as well as for next year. “When we started this financial year, one of the key focus was debt reduction plan. We started with Rs 2,600 crore of debt and in the first nine months we could reduce the debt by almost Rs 1,00...

  Tata Steel is set to acquire the integrated one million tonne steel-making facility of the Kolkata-headquartered Usha Martin Ltd (UML) for a cash consideration of around Rs 4,300-4,700 crore. The process of acquisition is likely to be complete in the next six-to-nine months. “Tata Steel hereby announces that it has executed definitive agreements for acquisition of the steel business of Usha Martin through a slump sale on a going concern basis,” the company said in a notification to the bourses on Saturday. Apart from the steel-making facility, the unit at Jamshedpur has a producing iron-ore mine, a coal mine under development and captive power plants. Tata Steel Group is among the top steel makers with an annual global crude steel capacity of 27.5 million tonnes per annum (MTPA) as on March 31, 2018. “The acquisition is part of the overall strategy to build capability in long products and expand offerings including high-value added products,” the release said. The closing of th...