India is set to develop its first 100% hydrogen-powered Direct Reduced Iron (DRI) plant, a Rs 207-crore national pilot project led by CSIR-IMMT. This initiative aims to significantly reduce carbon emissions in the steel sector and achieve net-zero commitments, focusing on adapting the technology to India's domestic iron ore conditions.
Experts' worries intensified after Pakistan commissioned its first Chinese-built Hangor-class submarine, PNS Hangor, last month.
In their talks, Modi and Merz are likely to deliberate on trade and investment ties as New Delhi is looking at deepening economic engagement with Europe against the backdrop of Washington's 50 percent tariff on Indian goods, people familiar with the matter said.
The first project that is being negotiated is for the procurement of three Scorpene submarines, which will be jointly constructed by state-run Mazagon Dock Limited (MDL) and French defence major Naval Group.
'There's an urgent requirement, particularly for the Indian Ocean region, as China's naval presence grows, and with Pakistan also acquiring more submarines.'
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
Naval Group's announcement comes a day before Prime Minister Narendra Modi's visit to Paris where he is scheduled meet recently re-elected French President Emmanuel Macron.
Mittal Steel, the world's biggest steel manufacturer, which made a $28.7 billion bid for acquiring Luxembourg-based Arcelor, on Friday said it has received US antitrust clearance for the said bid.
In March, Tata Steel announced its intention to sell the entire 10.5 million-tonne UK assets.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
Building 6 conventional submarines is one of the Indian Navy's most important weapon construction programmes.
World's biggest steel maker Arcelor-Mittal's plans to sell Dofasco to German steel giant ThyssenKrupp has hit a roadblock, with the Dutch foundation that controls the its Canadian unit deciding against its dissolution.
The defence ministry has already shortlisted two Indian shipyards and five foreign defence majors for the project, being billed as one of biggest "Make in India" ventures.
Unlike conventional subs that must surface every 48 to 72 hours, these subs can stay submerged for up to 14 days.
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
The 'request for proposal' for the indigenous construction of the six submarines will be issued soon, they added.
'He was sought after because he delivered.' Ishita Ayan Dutt profiles Tata Steel's new boss.
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.
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
Other losers included HCL Tech, Yes Bank, IndusInd Bank, TCS, ONGC, Bajaj Finance, PowerGrid, Vedanta, Asian Paints, NTPC and Hero MotoCorp, which shed up to 4.07 per cent.
The announcement evoked a sharp response from the UK and Ireland's largest trade union, Unite, which said it would fight for every job and demanded that there would be no compulsory redundancies from Tata Steel.
A bleak demand outlook for steel in the domestic as well as global market is also another reason Tata Steel may be looking to have additional liquidity as margins are expected to take a hit in the coming quarters.
Clark's predecessor Sajid Javid had pledged to help Tata Steel UK with a proposed package of measures and new British PM Theresa May is reportedly supportive of the plan
The steelmaker's India basket grew after Tata Steel completed its acquisition of Bhushan Steel under the Insolvency and Bankruptcy Code process and its subsidiary, Tata Sponge, acquired Usha Martin.
There were 35 defects that still remained to be resolved. Of these, 29 could not have been resolved during the monsoon since they required testing in absolutely calm seas. Nor is the Khanderi being commissioned with a full complement of its primary weapon, the torpedo.
PM said he admires German leadership in clean energy and commitment to combating climate change.
The first phase will end in 2018 and have the world's largest terminal under one roofThe first phase will end in 2018 and have the world's largest terminal under one roof
The company, headed by NRI billionaire Laxmi N Mittal, had clocked $0.345 billion net loss in the January-March quarter of the last year.
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
Russia -- already India's biggest arms supplier from 2014-18, accounting for 58 per cent of India's defence imports -- eyes more, reports Ajai Shukla.
On the other hand, the group's two traditional cash cows, TCS and Tata Motors' subsidiary Jaguar Land Rover, are slowing as other businesses pick up pace
The defence ministry has lost sight of what it intended to achieve -- which was to nurture private defence firms that would compete on equal terms with the 9 defence PSUs and the 41 Ordnance Factory Board factories.
Tatas plan to revive, not sell the Port Talbot steel plant. The investment could be as much as $500 million.
Most business groups in India, including Godrejs, Tatas and Mahindras, have seen patience tested in JVs, with some of them winding up quickly
Nifty50 surged 145 points to close at 8,468 after hitting an intra-day high of 8,475.
'Brexit might delay the sale process of Tata Steel's UK operations'.
Firms to find alternative export routes or face increased trade barriers
At the end of 2018-19, the Tata group had a consolidated debt of Rs 2.77 trillion. Tatas not only plan to avoid big-ticket acquisitions for now, the group's main focus will be on improving key metrics and reduce debt, say Shally Seth Mohile & Dev Chatterjee.
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
