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.
The death toll in last week's explosion at the Visakhapatnam Steel Plant (VSP) has gone up to 17, with one of the injured officials succumbing to injuries on Wednesday.
RINL is among the few firms that had effected price hikes, both in the current month and in the previous one.
With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
A senior official from the Department of Disinvestment told Business Standard it was decided in a meeting on Thursday that the fresh date for RINL's IPO would be in the third or fourth week of July.
RINL, whose two coking coal blocks in Jharkhand -- Mahal allocated in 2005 and Tenughat-Jhirki allocated in 2008 -- were de-allocated by the Coal Ministry at the beginning of this month, had earlier requested permission to surrender these blocks in lieu of two alternative blocks in the region.
Facing deficit of minerals within, Indian entities are increasingly looking for buying assets abroad.
SAIL and RINL at present produce about 18 million tonnes of the commodity. Navratna mining giant NMDC is in the process of setting up a three million tonnes per annum (MTPA)-steel unit in Chhattisgarh. Despite the prevailing economic slowdown, the expansion programmes of these public sector entities are going on full swing, Rastogi said, adding that SAIL is likely to hit the capital market to raise funds for the capacity augmentation.
India's public sector steel companies will spend a whopping Rs 230 crore (Rs 2.30 billion) on corporate social responsibility to build 'Model Steel Villages' across the country during the current financial year.
The state-run firm has invited about 45 lenders -- both domestic and international -- to present its future vision in Mumbai on the first week of the next month.
The Union Power Ministry has selected Rashtriya Ispat Nigam Limited (Visakhapatnam Steel Plant) for the National Energy Conservation Award 2002, first prize in the integrated steel plants sector.\n\n\n\n
The government will soon issue guidelines for regulation of OTT (over the top) platforms that will address issues such as sensitive content, the Rajya Sabha was informed on Tuesday.
RINL wiped out its losses in 2005-06 with money from the government.
Devastating Cyclone Hudhud caused damage worth thousands of crores in Visakhapatnam and other storm-hit areas of the coast, Andhra Pradesh Chief Minister N Chandrababu Naidu said in the port city on Tuesday.
With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts. Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) - Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem - constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
District authorities on Wednesday reported nine more death cases in the wake of the devastation caused by cyclone Hudhud even as the worst-hit Visakhapatnam city was limping back to normalcy with adequate supplies of essential commodities.
Virat Kohli sent the shutterbugs into a clicking frenzy as he received the Rajiv Gandhi Khel Ratna award
Look at reaping the first-mover advantage by possessing lands in AP's newly-announced capital city.
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