Global auto majors such as VW, Renault-Nissan and Volvo are expanding footprints in India
Tata Steel will report consolidated Q3 results, to include the Corus numbers, next month
Banking shares were the other big casualty with the sectoral index ending down by 1.58%
The latest job cuts equate to 2 per cent of Corus' total workforce of 80,000 people
Weak performance of European unit Corus pushes net loss to $584.7 million
Tata Steel, which operates a quarter of its 30 MT annual capacity in India, is already working on raising domestic capacity to 10 MT
The company had been operating at about half its 20 million tonnes steelmaking capacity in Europe for the past few quarters
Steel Authority of India, the largest producer of the metal in the country, posted a smaller-than-expected 17 per cent fall in quarterly net profit
Standalone net profit fell to Rs 9.03 billion for the fiscal second quarter, from Rs 17.88 billion reported a year earlier
