NRI steel tycoon L N Mittal on Wednesday said valuation of steel companies in India had come down significantly but there were no sellers.
In a list of Britain's costliest streets, the top slot has been grabbed by Kensignton Palace Gardens, popularly known as Billionaire's Row, where Mittal family has purchased three houses and was once home to late Princess of Wales Diana.
The online world is filled with love gurus promising to teach "how to woo someone in minutes", unlike those who talk about the need to do the self-work.
Incidentally, ArceloreMittal announced lower than expected net profit of $1.7 billion for the second quarter, while admitting this was the effect of the slowdown in Europe and a demand dip in China.
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.
Mittal has been named at the top for third consecutive year with a net worth of 27.3 billion rand ($4 billion) in the latest annual list of 100 richest in South Africa, compiled by that country's weekly The Sunday Times.
Mittal will purchase 91 million common units of IPIT at the offering price that will be determined through a book building process, but would 'not be obliged to subscribe and pay' for any of the units if the subscription cost exceeds Singapore dollar100.1 million (about $73 million).
"Our Group Management Board has approved the constitution of a 15-member technical team for our steel projects in Orissa and Jharkhand under the supervision of our Chief Technical Officer Pierre Gugliermina," ArcelorMittal Brazil Chief Executive Officer Jose Armando Campos told PTI.
The Ruias of the Essar group have decided to get into yet another takeover battle. And this time they are taking on none other than Lakshmi Narayan Mittal, the owner of world's largest steel maker, ArcelorMittal, to take over the Bulgarian steel firm, Kremikovtzi AD, an ailing steel mill owned by Mittal's younger brother Pramod Mittal.
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Sunil Mittal is confident that Airtel will retain its numero uno position, inspite of Vodafone's competition.
Months after mounting a blistering attack on the Indian system of governance that prevented big ticket projects, global steel giant ArcelorMittal on Friday exuded confidence that its mega Rs 1.30 lakh crore (Rs 1.30 trillion) investment would take off soon as some states were very 'proactive'.
Out of the world's 10 wealthiest CEOs, four positions have been grabbed by Indians -- Lakshmi Mittal is ranked at the second place followed by Mukesh Ambani (6th place), Anil Ambani (7th) and Wipro chief Azim Premji (9th). The list has been topped by Warren Buffet, the chief executive of Berkshire Hathaway with a fortune of $52 billion.
ArcelorMittal on Thursday reported a net income of $679 million in the first three months of this year mainly on account of improved steel demand.
A senior official attached with the Tambaram police commissionerate has been transferred and put under compulsory wait, days after the AR Rahman concert row that among others witnessed traffic snarls which even affected the movement of the Chief Minister's convoy.
Steel magnate L N Mittal on Thursday proposed setting up a Rs 30,000 crore (Rs 300 billion) integrated steel plant in Karnataka when he called on the southern state's Chief Minister B S Yeddyyurappa.
Arcelor-Mittal has shortlisted three sites in Jharkhand for setting up a Rs 20,000 crore (Rs 200 billion) 12 million tonne steel project. The three sites are at Galudih, Saraikela and Torpa, said Malay Mukherjee, one of the eight members of the Arcelor-Mittal management team.
Indian businessman Pramod Mittal has signed a preliminary agreement for sale of debt-ridden club CSKA Sofia to Bulgarian company Titan.
LN Mittal is getting a senior bureaucrat from the ministry of petroleum and natural gas to run his first-ever venture in the refining business, the Rs 18,919 crore (Rs 189.19 billion) Bhatinda refinery.
The proposed FDI of Rs 503.37 crore (Rs 5.03 billion) by ArcelorMittal, Netherlands, has been approved by the Foreign Investment Promotion Board, the finance ministry said in New Delhi.
The Delhi Police filed an 800-page chargesheet against the seven accused on April 1 and the case was subsequently committed to a sessions court.
At the zenith of his success in capacity consolidation marked by acquisition of Arcelor in June 2006, and, in the process creating a steel behemoth of over 100 million tonnes (MT) capacity, Lakshmi Mittal, credited with spotting opportunities ahead of his peers, used to say that his squaring the circle would be complete with his setting foot in China and India.
Steel baron Lakshmi N Mittal is eyeing to buy half of Hindustan Petroleum Corp's exploration arm Prize Petroleum for about Rs 200 crore (Rs 2 billion). Mittal, which made rapid advances in oil sphere this year first with a 49 per cent stake in HPCL's Bhatinda refinery and then partnering the state-run firm for a separate refinery on the east coast, is in talks with financial institutions to buy out their 50 per cent stake in Prize Petroleum.
A fresh date for Wresting Federation of India's (WFI) long-pending elections is likely to be announced on Wednesday after the Supreme Court set aside the stay imposed by Punjab and Haryana High Court, a member of the IOA-appointed ad hoc committee said.
With the steel sector rebounding earlier this year, Mittal's wealth according to this list of the UK's rich and the powerful, doubled from 2009-levels to 22.45 billion pounds.
NRI billionaire LN Mittal is among the front runners for a committee being set up to improve ethical behaviour of crisis-ridden Goldman Sachs, says a media report.
Indian steel tycoon Lakshmi N Mittal on Monday rubbished media reports here suggesting that he had bid for an iconic mountain range in Britain.
India's Sunil Mittal has been adjudged Asia's Businessman of the Year by prestigious US magazine Fortune for steering his telecom business in the world's fastest growing wireless market.
One of China's largest steel companies, Baotou Iron & Steel is in talks with the world's top steel maker, Arcelor Mittal over the possible sale of 49 per cent stake, the official media reported on Friday.
The Valin Group and ArcelorMittal will directly invest in the building of 2 mills of Lianyuan Steel.
Mittal is in talks to take 20 per cent stake in state-run Bharat Petroleum Corp Ltd's Rs 9,100 crore (Rs 91 billion), six million tons a year Bina refinery that is to be commissioned by 2010-11, industry sources said.
Mittal's total remuneration dipped marginally by 2.52 per cent.
There was some cheer for India after two barren days as the duo of Jitu Rai and Heena Sidhu triumphed in the 10 metre mixed team air pistol event of the ISSF World Cup.
NRI steel tycoon L N Mittal pays Rs 500 crore (Rs 5 billion) as first instalment for picking up 49 per cent stake in HPCL's Bhatinda Refinery.
"ArcelorMittal has shown interest in the stake buy and the due diligence will start soon," said an official familiar with the development. The Facor stock closed at Rs 23.5 a share on the Bombay Stock Exchange today. At the current price, the company has a market capitalisation of Rs 435 crore. However, the deal is expected at Rs 35 a share, about 50 per cent premium to the current market price.
Steel magnate Lakshmi Mittal's demand for a 50 per cent stake in China's Baotou Iron and Steel Group has led to collapse of talks for a joint venture as Beijing will not allow foreign steel giants to take a controlling stake.
Jharkhand Chief Minister Madhu Koda has assured Arcelor Mittal, the world's largest steel making company
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