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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
For the first time since it was relegated to the second spot, India’s oldest steelmaker has made its ambition clear. Can it best its rival?
Editor's note: This is no bugle call for war. But when it comes to Tata Steel, this is the closest it can get to that. For the first time since JSW Steel displaced it as India’s largest steelmaker, Tata Steel has made its aspiration official. It wants the crown back. The declaration was not made by CEO and managing director T.V. Narendran. There was no press statement to that effect either. Instead the company chose to make the announcement through its annual report for the fiscal year 2022, which was earlier this month sent to investors holding its 122 crore shares. That it made the statement directly to its investors is significant as the company lags JSW Steel in market capitalization too. The aspiration is part of Tata Steel’s “Strategic Roadmap 2030”, which includes four “strategic objectives”. They include consolidating its position as a global cost leader and attaining leadership in sustainability. The most striking is “leadership in India”. This includes “increasing capacity of India operations through organic and inorganic growth”, and “attain and retain leadership in chosen segments (current and new)”. …
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
A sharper growth push from Tata Steel is reshaping a long-running contest with JSW Steel and shifting the market’s loyalties. But can it keep its expansion-hungry rival at bay?
Tata Steel battles protests and litigation in the Netherlands. Separately, India’s solar market powers ahead and ESG investing redraws its boundaries.
