Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
The Hinduja family is planning investments of about $50 billion (Rs 2 lakh crore) in the next five years in India and abroad, led by a foray into oil and gas in Iran. The closely held group, run by four billionaire brothers, is also planning large investments in real estate, automotives, power and infrastructure, mostly in India, Europe and West Asia.
It is Aditya Mittal, son of steel tycoon Lakshmi Mittal and CFO of ArcelorMittal, who persuaded his father to accept a shareholding of below 51 per cent in the company post its takeover of European giant Arcelor. Before Arcelor takeover, Mittal family held an 88 per cent stake in Mittal Steel. Aditya, who visited a steel plant first at the age of eight, joined his father in early 1997, after working for less than a year as an investment banker at CSFB.
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.
Steel Minister Ram Vilas said in a meeting that the prime minister could intervene, if need be, to provide iron ore blocks to Lakshmi Mittal, CEO of ArcelorMittal, for his two proposed 12 mn tonne steel plants in India. The world's biggest steelmaker has signed MoUs with Jharkhand and Orissa governments to set up greenfield steel plants wherein it will invest a total of Rs 80000 cr. ArcelorMittal has already been allotted two coal blocks, one each, in Orissa and Jharkhand.
The world's biggest steelmaker Arcelor Mittal said on Friday it has received a writ of summons to appear before a Dutch court for legal proceedings initiated by Arcelor shareholders seeking an injunction against the mega merger of both the companies.
Lakshmi Mittal and Arun Sarin, two India-born entrepreneurs, have figured out in UK's Power 100 list.
Queen's Park Rangers, the Championship football club co-owned by two of the billionaires behind F1, on Thursday welcomed one of the world's richest men into its fold when Lakshmi Mittal bought a 20 per cent stake, writes Roger Blitz.
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.
Arcelor Mittal will invest $20 billion to set up two steel plants in India, in Jharkhand and Orissa.
Calling his a friend, Sarkozy said he has asked steel magnate L N Mittal to justify shutting down of his steel plant and compensation for the job losses.
Mittal, who holds 623.62 million shares of the firm, would get $233.85 million at each payout. Mittal family is the promoter of the company with a 43.04 per cent stake, valued at about $39.1 billion, while other public shareholders hold 56.96 per cent.
Billionaire Lakshmi Mittal will trust none other than his better half Usha when none of the directors are there to run the world's largest steel company.
Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
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.
The return of private investment now struggles with lack of funds and election-driven uncertainty.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
Insolvency and Bankruptcy Code bound stocks have witnessed a steep fall in 2018.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
'The slide in growth has arisen primarily because we have an NBFC crisis on top of a banking crisis,' points out T T Ram Mohan.
Top ten billionaires in India.
Indian steel tycoon Lakshmi N Mittal on Monday rubbished media reports here suggesting that he had bid for an iconic mountain range in Britain.
The NCLAT's order is offensive because it goes against every tenet of bankruptcy reorganisation. If Justice Sudhansu Mukhopadhyay's tenets are accepted by the Supreme Court, we will not only regress in modern bankruptcy reorganisation but also slide back in the Doing Business rankings, says Omkar Goswami.
Anish Kapoor's Descension, first envisioned for the 2014-2015 Kochi-Muziris Biennale, has now been installed as a large-scale outdoor piece in Brooklyn.
News of all that's transpired on and off the football field
59 of the 101 millionaires have seen an overall increase in net worth.
Posco will have to bid for an iron ore licence to feed its plant.
The Anglo-Dutch merger was meant to revive the ailing British Steel which had incurred a net loss of 81 million in the year ended March 31, 1999
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
The 2016 upstart, called Jio, dislodged rivals and has emerged as the nation's No. 4 carrier by offering call services free for life and data transmission at dirt cheap rates.
As many as 14 Indian families have made it to the inaugural list of Forbes' 50 richest families in Asia.
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
Mistry's intention of selling ailing steel maker Corus, Tata's so-called feather in the cap, was one reason for his ouster
'Power is always transitory, and you should be the same person whether you have it or not,' the head of the number one law firm in India tells Pavan Lall.
The British government has been under pressure to help a sale process go through after Tata said it would sell its British business.
Britain's traditionally anti-EU media have blamed Brussels for preventing London from taking greater steps to protect the industry.
Relatives of five Indian passengers, travelling by the missing Malaysia Airlines plane, are anxiously waiting for any information about the fate of the aircraft and their loved ones.
Political stability and a couple of big projects are pluses, but focus on medium and small industries is still missing.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances