With the worst in terms of pricing pressures behind Tata Steel, its outlook is expected to improve. Europe has seen hot rolled coil prices rise this January after the European Union's (EU's) carbon border adjustment mechanism (CBAM) kicked in and further price improvements may be on the cards once import quotas come into play in June.
A video of Maharashtra Deputy Chief Minister Ajit Pawar recounting a tense helicopter ride with Devendra Fadnavis in July 2024 has resurfaced after Pawar's death in a plane crash. Pawar humorously described his fear during the flight due to bad weather, while Fadnavis remained calm.
The matter has now been escalated and the ministry has written to Customs, Bureau of Indian Standards (BIS) and the Directorate of Revenue Intelligence (DRI) to investigate it thoroughly.
There is positive sentiment for Tata Steel on the basis of strong domestic demand, a turnaround of European operations and moderate valuations. A combination of capacity expansion, efficiency gains, higher asset utilisation, and improved operating leverage may lead to margin expansions.
An accident inside a furnace at a private steel plant in Chhattisgarh's Raipur resulted in the death of six people and injuries to several others. The incident occurred during cleaning work inside the furnace.
You have to grow, and grow fast - that's the DNA of the JSW group, chairman Sajjan Jindal said as JSW Cement made its debut on the stock market mid-August. The remark captured not just the moment but also the momentum of JSW's growth story.
The Supreme Court has ruled that motor vehicle tax is not applicable if a vehicle is not used or kept for use in a 'public place'. The ruling came on an appeal challenging a judgement of the Andhra Pradesh High Court.
'Due to tariff uncertainty, automotive customers reduced their steel uplift by almost 15 per cent.'
Tata Steel's consolidated net profit more than doubled to Rs 2,007.36 crore during the June quarter, on account of "increase in net steel realisations and the planned cost-takeouts" across geographies. The Tata Group entity had posted a net profit of Rs 918.57 crore in the year-ago period.
JSW Steel, owned by Sajjan Jindal, has emerged as the world's most valuable steelmaker, boasting a market capitalisation (mcap) of nearly $30.31 billion, according to Bloomberg data.
JSW Steel is learnt to have submitted its resolution plan along with AION Capital
Ispat Industries Ltd said it is in the process of restructuring its financial liabilities.
The O P Jindal Group has emerged as a strong contender for Ispat Industries, the debt-laden company owned by Pramod and Vinod Mittal.
The government on Thursday confirmed an investigation has been ordered against Ispat Industries to check its balance sheet under the Companies Act.
The Mittals-controlled Ispat group is reviving the Bhadrawati power project in Maharashtra, following the passage of the Electricity Bill, 2003.
Ispat Industries Ltd said it set up a 1.2 million tonne per annum single module DRI plant at Dolvi near Mumbai.\n\n\n\n
Vinod Garg, executive director, commercial, Ispat Industries, and his wife were at a business dinner with the company's foreign customers when terrorists attacked the hotel on Wednesday night.
Sathavahana Ispat plant resumes operations.
The Centre has conceded most of the demands of potential buyers of Neelachal Ispat Nigam Ltd (NINL). These include lowering the lock-in period for sale of assets to one year and allowing the new buyer to undertake the amalgamation of a special purpose vehicle (SPV) into NINL. An inter-ministerial group led by Department of Investment and Public Asset Management (Dipam) secretary Tuhin Kanta Pandey and the core group of secretaries on divestment (CGD) headed by Cabinet secretary Rajiv Gauba have decided that the lock-in period can be reduced to one year from the date of completion of sale, from the earlier three years proposed by Dipam, an official in the know said.
Faced with slackening prices in China, steel producer Ispat Industries is now turning to Europe and Middle East which are witnessing northwards movement of demand and prices.
In the wake of the Maoist attack on a Mumbai-bound train in West Midnapore district, the South Eastern Railway cancelled the Howrah-Barbil Janshatabdi Express and Howrah-Jamshedpur Ispat Express on Friday.
Ispat promoters Pramod and Vinod Mittal will hold 26 per cent stake in the company.
The Vinod- and Pramod Mittal-controlled Ispat Group is all set to invest around $3 billion (Rs 12,000 crore) in Bangladesh in a gamut of sectors, including gas exploration and production, power, petrochemicals and coal mining.
The government has ordered a probe against steel giant Ispat Industries for alleged exposure to Rs 8,500 crore of public funds, erosion of net worth and high accumulated losses.
Global Steel Holdings, the holding company which controls the steel and associated businesses of the Ispat Group, has acquired two coal blocks in Mozambique. According to sources, the investment in the blocks would be in the region of Rs 460 crore (Rs 4.6 billion).
There is no proposal to merge Nilachal Steel Corporation with SAIL but the process for the government's proposed merger of Nilachal Ispat Nigam Limited with Steel Authority of India Ltd is underway, the Lok Sabha was informed on Monday.
Citicorp International Finance Corporation plans to acquire 14.16 per cent stake in Monnet Ispat for Rs 35.27 crore (Rs 352.7 million) to partly fund expansion of the company's Raigarh unit manufacturing sponge iron and mild steel.
Global Steel owns 70 per cent stakes in iron ore mine in Brazil and two coal mines in Columbia and Mozambique. The company is setting up three special purpose vehicles for isolating financial and regulatory risks. Ispat will purchase the stakes in these SPVs, which are held by Global Steel. The iron ore mine has an estimated reserve of 500 million tonne while the coal mines hold reserves of 120 million tonne.
Fresh from getting a major concession from the corporate debt restructuring forum, the Pramod and V K Mittal-controlled Ispat Industries Ltd on Monday said it aims to be counted among the world's top five lowest cost producers of steel by 2005.
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