Tata Steel Europe's European Works Council, the body representing the employees, will meet on November 27 to formally discuss the company's transformation programme that entails 3,000 job cuts across operations in the continent.Voicing its displeasure against the planned job cuts announced by Tata Steel, the European Works Council, or EWC, said 'employees should not pay the price for Tata's failures' despite the challenges that the company is facing due to the current economic slowdown.The job cuts announcement on November 18 has riled the employees of Tata Steel Europe's units in the UK and the Netherlands, prompting trade unions to consider approaching the European Parliament and even an industrial action.Close "The employee representatives would like to be clear that while there are challenges across Tata Steel Europe, this transformation programme is a direct result of the company's failure to deliver the joint venture with thyssenkrupp and the complete absence of any Plan B," … [Read more...] about Tata Steel Europe| Union representatives to meet management next week
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The recent sharp rally in paper stocks following the government's pledge to eliminate single-use plastic has made investors sit up and take note.Many are of the opinion that the government’s shun-plastic push has brightened the prospects of paper companies. But, analysts and industry watchers are less convinced with this rally.The government has pledged to eliminate single-use plastic by 2022. As per reports, a nationwide ban on single-use plastic, including bags, cups and straws, could come as early as on October 2, the 150th birth anniversary of Mahatma Gandhi.Close Since August 15, when Prime Minister Narendra Modi urged citizens to give up single-use plastic by October 2, 20 paper stocks have surged over 10 percent as of September 11 on BSE. related news Sensex at record high but midcaps likely to generate wealth; 20 stocks to bet on Technical View: Nifty forms Doji pattern, record high likely if index closes above 12K Sensex hits a new high, 4 factors that could … [Read more...] about 20 paper stocks up 10% since Aug 15. Will it hold?
Life insurance and asset management companies (AMC) are likely to be high-growth businesses due to the financialization theme that is playing out, Rusmik Oza, Head of Fundamental Research, Kotak Securities, says in an interview to Moneycontrol’s Kshitij Anand.Edited excerpts:Close Q) What is your assessment of the September quarter earnings? If you had to describe them in one word, what would that be? What were the highlights?Rusmik OzaHead of Fundamental Research|Kotak Securities 'Corporate tax cut will boost earnings by 15-20%; HDFC Bank, ONGC, M&M among 20 cos to benefit the most'Cement, oil & gas among 3 sectors likely to outperform; here’s why'Nifty unlikely to test 12,000; expect the slump in earnings to continue in Sept quarter'A) If one has to summarise the September quarter results in one word, it would be ‘Decent’. Further, if it needs to be summarised in a sentence, it would be ‘Optically healthy on earnings, due to corporate … [Read more...] about Don’t miss! Stocks from life insurance and AMC likely to be included in Sensex & Nifty
Markets regulator SEBI will be looking to tackle a host of issues at its board meeting on November 20.Here are some of the major talking points:Rights issue processClose Based on a long-pending demand of making the rights issue process more efficient, the market regulator may discuss a significant reduction in time taken to process a rights issue to 31 days or less, from the current 55-58 day framework. related news Stake sale in BPCL, SCI, Concor to strengthen firms, bring in fresh investments: FICCI NCP leaders meet ahead of joint meeting with Congress Zydus Cadila gets USFDA nod for Isosorbide Dinitrate tablets, Desonide Cream As it stands now, a rights issue process, through the fast track route, typically takes 55-58 days and excludes the period taken for completing the letter of offer and any statutory and regulatory approvals.This has been under discussion as issuers perceive a higher exposure to price risk due to current rights issue process.To this effect, the … [Read more...] about SEBI board meet: Here’s all you need to know