Tata Steel Ltd.

Tata Steel has trimmed its capex plans and scale down the debt reduction guidance of $1 billion for the fiscal, amid weak demand coupled with a sharp fall in prices. In May this year, the company, which has a gross debt of Rs 1.11 lakh crore as of end September, had announced plans to reduce the debt by another $1 billion and a capex plan of Rs 12,000 crore.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.