The government on Monday said it would decide next month the fate of captive coal blocks lying idle with 82 companies, including ArcelorMittal, Tata Steel and NTPC, who have been issued notices for not developing them within the stipulated time.
It is raining mega investment in Orissa, but none of the big ticket projects have made any headway.
Emerging multinationals with new business models can pose a disruptive threat to Western companies.
An analysis of the financial performance of nine leading global companies during January-June 2009 showed that only three of them registered profits, with SAIL's profit being the highest.
Notwithstanding the presence of global steel giants like ArcelorMittal and Posco in the country, domestic steel firms are still "better placed" to grow in the lucrative Indian steel market, global research firm Macquarie says.
The main reason for the move is the volatility in prices and inconsistent supplies for value-added grades.
India has expressed concern over the French government's strong opposition to Mittal Steel's hostile bid to take over its rival European group Arcelor.\n\n
The Union government has threatened to cancel coal block allocations of as many as 17 companies for failure to develop those allotted to them years before. These include big companies such as Tata Iron and Steel, Sterlite Energy, GMR Energy, ArcelorMittal India, Reliance Energy, GVK Power, Lanco Group and Rungta Mines.
Mukesh Ambani-controlled Reliance companies' market cap now exceeds $100 billion (as also Arcelor Mittal's). The new generation winners operate in a myriad sectors, including telecom, commodities such as steel and cement.
According to data available on the website of World Steel Organisation, only eight steelmakers produced over 20 million tonne (mt) steel in 2009 with ArcelorMittal, leading at 77.5 mt.
Feedback Ventures, an infrastructure consulting company, Arcelor-Mittal, and Reliance Retail are among the 25-30 companies that went to the Indian Institute of Management, Ahmedabad (IIM-A) this time.
Billionaire Mukesh Ambani-led Reliance Industries has made it to the annual list of the world's 100 most respected companies compiled by the Wall Street Journal, topped by US-based healthcare products major Johnson & Johnson.
SAIL currently employs a little under 1,21,000 people. The freshers, to be roped in as management trainees (technical and administrative), would handle the extended operations of the company in near future. The company is in the process of expanding its production capacity to 26.3 million tonnes by 2010-11 for which its would be spending in excess of Rs 78,000 crore.
Walmart CEO Douglas McMillon came first in the CEOWORLD magazine's global ranking of the best chief executives across all industries for 2019.
Tata Steel has a technical tie-up with Nippon Corporation for automotive steel production. Nippon is also helping plan the layout of its proposed steel plant at Kalinga Nagar.
Orissa on Friday said it is geared up to resolve all issues hurting the proposed Rs 6-lakh crore investments in the state, including the Rs 1-lakh crore investments by the global steel giants--ArcelorMittal and Posco.
The world's largest cruise ship Harmony of the Seas, is all set for its maiden voyage.
Corus, which was acquired by Tata Steel for 6.2 billion in the beginning of this year, is eyeing global network alliances in automotive steel, as it aims to build a strong position in the international market.
Corus, which was acquired by Tata Steel for 6.2 billion pounds in the beginning of this year, is eyeing global network alliances in automotive steel, as it aims to build a strong position in the international market.
Over 100 Indian institutions offer semiconductor design curricula, but hardly any of them focuses on manufacturing and process technology, a top official from global memory and storage major Micron Technology said on Thursday. There is significant global demand for such chip engineers, its president and chief executive Sanjay Mehrotra said at the 10th Vibrant Gujarat Global Summit in Gandhinagar. "While more than 100 Indian institutions provide a semiconductor design curriculum, hardly any focus on semiconductor manufacturing and process technology.
ArcelorMittal, Tata Steel and three other companies are in the race to get control over the iron ore mines in Kawardha, about 120 km from Raipur. The company winning the bid to mine 100 million tonnes of iron ore in Kawardha will have to set up a steel plant. "We have kept the matter pending and any decision on the allotment of the iron ore mines in Kawardha is likely to be taken after the state assembly elections," CMDC Chairman Gourishankar Agrawal said.
NRI steel tycoon Lakshmi Mittal is considering relinquishing his controlling stake - a move that could lower the barriers to shareholders accepting his $22.1 billion
Vedanta Resources has delayed its offer to buy a further 20% stake in iron-ore mining company Sesa Goa.
NRI business tycoon Anil Agarwal-led Vedanta Resources will pay $1.37 billion (about Rs 5,700 crore) for acquiring 71 per cent stake in India's biggest iron ore exporter Sesa Goa.
Mittal Steel, owned by NRI steel tycoon Lakshmi Mittal, has said that opposition to its controversial takeover bid of Luxembourg-based Arcelor is softening and the whole deal could be finalised by the end of June.
It is no coincidence that most of the willing land sellers are non-tribals who own plots to the south-west of Torpa on the road leading to the town of Simdega, where the highway crosses the Koel and Karo rivers.
A day after NRI steel tycoon Lakshmi Mittal jacked up his offer for rival Arcelor to euro 25.8 billion
On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing. The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).
Strong demand in the domestic market, coupled with an increase in raw material prices, is pushing up steel prices. According to SteelMint, a market intelligence and price reporting firm, the list price of flat steel has seen an increase of Rs 750-2,000 per tonne for October deliveries. The long steel price witnessed an increase of Rs 1,500 per tonne towards the end of September.
The sale of the NPA account is to happen through e-auction on January 30, as per the bid invite.
India produced 179 more super-rich people this year led by Adani Group's Gautam Adani who amassed a whopping wealth of Rs 365,700 crore or more than Rs 1,000 crore daily, and the number of such individuals has crossed the 1,000-mark. Geographically, five more cities are home to super-rich taking the total number of super-rich cities to 119 and these 1,007 individuals cumulatively added 51 per cent more wealth in 2021. The average wealth increased by 25 per cent this year that also saw the livelihoods of thousands of people being hit by the coronavirus pandemic.
Once Bhushan Steel is into its fold, Tata Steel will increase its capacity from 12.7 million tonnes per annum (mtpa) to 18.3 mtpa
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
The European Parliament should discuss and debate Lakshmi Mittal's $23 billion bid for Arcelor, Josep Borrel, President of the Parliament has said.
As many as 14 Indian families have made it to the inaugural list of Forbes' 50 richest families in Asia.
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