India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.
The "weaponisation" of economic activity - through tariffs and sanctions - is now a reality, with countries leveraging these tools strategically, External Affairs Minister S Jaishankar said at the Raisina Dialogue recently.
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
Steel companies are witnessing margin pressures in Q2FY25 and this may persist until China sees growth recovery.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
The Congress on Friday alleged that the electoral bonds data has exposed 'corrupt tactics' of the Bharatiya Janata Party such as quid pro quo, seeking donations for the company's protection, kickbacks and money laundering through shell companies.
Bids for eight coal blocks were sent for re-examination.
The trading firm is under pressure from lenders to raise funds.
In 2014, the Supreme Court of India revoked the allocation of more than 200 coal blocks which were sold by the government
The Essar group, Jindal Steel and Power, Monnet Ispat, Bhushan Steel and the Avantha group have been asked to close deals by March-end.
With the Adani and Jindal groups and Mukesh Ambani-owned Reliance Industries joining the race to buy Videocon Industries' (VIL's) assets, lenders are expecting aggressive bids for VIL's consumer durables and overseas oil assets, which are to be sold in separate auctions. The entire asset sale exercise is expected to be completed in the next six months, said a banker. A promoter entity of Naveen Jindal-owned Jindal Steel and Power has also evinced interest in the second round of bids for VIL's consumer durable business. The deadline to submit bids for VIL's assets ended on February 2.
The dip in net profit, according to the annual general report, was due to a rise in depreciation and financial cost of its debt and for funding various expansion projects.
Naveen Jindal, Chairman and Managing Director of Jindal Steel and Power Ltd (JSPL), has topped the executive pay charts for listed companies in India.
Ministers are forbidden to have any connections with businesses that are related to the work they conduct for the government.
Zee Business Editor Samir Ahluwalia, who along with his colleague Sudhir Chaudhary is accused in an extortion case, on Thursday filed in a Delhi court a criminal defamation complaint against Naveen Jindal, his firm Jindal Steel and Power Ltd (JSPL) and its 14 officials.
The unholy nexus between business and politics has taken a whole new form, says Bhupesh Bhandari.
Central Bureau Investigation has asked Congress MP Naveen Jindal, who is currently abroad with his family, to join its probe in the allocation of a coal block to his company Jindal Steel and Power Limited.
Congress Member of Parliament Naveen Jindal and former minister of state for coal Dasari Narayan Rao have been named as accused in the fresh FIR filed by the Central Bureau of Investigation in connection with the coal allocation scam. Congress Member of Parliament Naveen Jindal and former minister of state for coal Dasari Narayan Rao have been named as accused in the fresh FIR filed by the Central Bureau of Investigation in connection with the coal allocation scam.
Zee News Editor Sudhir Chaudhary on Thursday told a Delhi court that Congress MP Naveen Jindal and 16 other officials of his firm against whom he had filed a criminal defamation complaint, had levelled "false allegations" against him to tarnish his image.
A Delhi court on Wednesday took cognizance of Zee Business Editor Samir Ahluwalia's criminal defamation complaint against Naveen Jindal, his firm Jindal Steel and Power Ltd and its 14 officials.
In a significant development, a Delhi court on Thursday took cognisance of Zee News Editor Sudhir Chaudhary's criminal defamation complaint against Congress MP Naveen Jindal and 16 officials of his firm Jindal Steel and Power Ltd (JSPL).
India's resource-hungry corporations are going aggressive to acquire natural resource assets overseas.
In a new twist in its case against Zee News, Jindal Steel and Power Ltd on Thursday showed tapes -- purportedly recorded in a sting operation -- alleging that the channel tried to blackmail the company and extort Rs 100 crore for not airing stories against it on coal block allocation.
The panel undertook the review of the blocks from September 6-8.
A court in Delhi on Tuesday asked the Delhi police to investigate the defamation complaint filed against Congress Member of Parliament Naveen Jindal and 16 others by Zee News editor Sudhir Chaudhary, who had alleged that false allegations were levelled against him to tarnish his image.
It is targeting a rise in output to 16 million tonnes per year by 2016 from four million now.
The decline in these was mostly due to company or sector-specific issues, say experts.
When the initial public offer of Jindal Power was announced in 2009, it was seen by investors as a golden opportunity to own a quality stock.
A look into the controversies the 42-year-old chairman and managing director of Jindal Steel and Power has battled in the last six months.
Naveen Jindal, Chairman and Managing Director of Jindal Steel and Power Ltd (JSPL), has topped the executive pay charts for listed companies in India.
Jindal SAW, an O P Jindal Group company, is yet to receive a copy of the notice.
Renowned names from India Inc and politics are chargesheeted by the CBI before a special court in a coal blocks allocation scam case.
One of the beneficiaries is Jindal Steel and Power, which had earlier been kept out of procurement for rails
Four companies, including India's largest private sector electricity generator Tata Power and infrastructure major Larsen & Toubro Ltd, chose not to bid for the Rs 16,000-crore ultra mega power project (UMPP) in Tilaiya in Jharkhand even as Reliance Power, Lanco Infratech and NTPC Ltd, the country's largest power producer, submitted their technical bids.
"We have acquired Shadeed Iron & Steel (Shadeed) which has 1.5 MT Hot Briquetted Iron (HBI) facility located in Sohar, Oman. The deal is closed," JSPL Director Sushil Maroo told PTI.
Essar Group has bid $150 million for taking over an Australian coal firm, Rocklands Richfields Ltd, bettering an earlier offer from Jindal Steel and Power Ltd.
Two traders - Jindal Steel and Power Ltd and GMR Energy Ltd - have already surrendered their licences.
The decision was taken by the ministry this week, a top Coal Ministry official said, while refusing to reveal the names of the companies.
The Tilaiya project is a part of the government's showcase UMPP scheme under which a power generation capacity of around 50,000 Mw is planned to be created through 13 of such mega projects, which will come up mostly in the Twelfth Plan period.
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