Companies are looking to combine risk management with strategy.
Vinod takes centrestage as Pramod stays away from deal; uncertainty over the latter's continuity on Ispat board.
The O P Jindal Group has emerged as a strong contender for Ispat Industries, the debt-laden company owned by Pramod and Vinod Mittal.
The markets have reacted negatively, for example, to recent news that Cairn India, of which the Anil Agarwal group company Vedanta owns 60 per cent, will give a $1.25-billion loan (about Rs 7,500 crore) on notably easy terms to Sesa Sterlite, another Anil Agarwal group company.
The Enforcement Directorate to take a "conclusive action" towards attachment of assets of those involved in coal scam.
Asked if Ganguly would be cornered at the meeting, he laughed and cited an example.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The plan is to de-notify the entire SEZ.
These have been selected based on the earnings growth prospects and favourable (buy) ratings by brokerages
Then chief minister, Buddhadeb Bhattacharjee, had laid the JSW project's foundation stone on November 2,2008, for the 10-million tonne capacity plant.
Before the pandemic hit the world and led to shutdowns, the company had received nearly half a dozen offers. But bidders are now withdrawing. They want to reassess the situation. They want to conserve cash and avoid acquisition.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Steel trader Kunal Gandhi has stopped going to metal yards -- he now buys 80 per cent of his monthly steel requirement of 2,500 tonne from JSW Shoppe at Mumbai's Vile Parle, which opened three months back.
Positive cues from China - which accounts for 56.5 per cent of global crude steel production - are likely to keep demand-supply in balance and provide support to prices. All eyes have been on China, which opened after New Year holidays, as it was widely expected that prices would recover post-holidays after the weakness in January. Jayanta Roy, senior vice president, ICRA pointed out, barring last year when Covid-related restrictions affected China's steel demand in February 2020, historical trends show a typical upward movement in steel prices post-new year festivities. China's opening post-holidays was keenly awaited, especially in the wake of the sluggishness in the market in January.
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In the course of his various tenures, Yediyurappa made many adversaries. Bommai, by contrast, knows the Opposition well and has many friends, cutting across parties -- he is, after all, only a 2008 BJP entrant.
Though the ruling Left Front in West Bengal recorded its worst performance in the recent Lok Sabha polls, industrialists appear to be unperturbed by the changing political wind in the state and believe industrialisation will continue.
M-Cap of top 10 business groups went up by 46% this year.
"The proposed visit of High Level Indian Delegation to Tokyo consisting of Govt Officials and Indian Olympic Association to review India's #Tokyo2020 preparation on 25th March is temporarily postponed," Rijiju tweeted.
Steel firms are aiming to clear their piled up inventory as they fear a further fall in prices, which have already nosedived globally; buyers have withheld their bulk orders anticipating a further correction in the rates. JSW Steel said it would reduce total production by around 20 per cent from November. Essar Steel and Ispat Industries are already operating below optimum capacity. Jindal Steel and Power Ltd said it is looking to bring down cost of production.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
At least three steel companies-JSW Steel, Jindal Stainless and Bhushan Steel-have decided to wait for the financial storm to pass before they take up their expansion plans. Ministry may not achieve target to cross 100 MT output by 2012.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
Steel prices have come down by around 40 per cent since July this year. At present, prices of hot-rolled coil are ruling at Rs 30,000-32,000 a tonne. Ispat Industries director (finance) Anil Sureka said ex-factory prices of hot rolled coils were even lower.
Online cab network company Ola has launched the 'Road to Gold' campaign under which its customers can contribute a sum of Re.1 per ride across the over 110 cities it operates in, a press release stated.
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
PE funds say they have enough money to buy two or three of the indebted companies and the issue is not cash but the management bandwidth to turn them around.
The cricket icon is a co-owner of the Chennai franchise, one of the new teams added to the sport league
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Abhinav Bindra backed Nikhat Zareen's demand for a trial bout against the six-time World champion before India's squad for next year's Olympic Qualifiers is decided.
Between 2007-08 and 2017-18, the number of countries they imported steam coal from has increased from six to 12.
'Will tell BFI to decide what's best for nation'
Summary of sports events and persons who made news on Wednesday
Among other major companies, Cox & Kings made a total investment of $39.95 million in four different WOS situated in Hong Kong, Singapore and the UK.
Construction major Larsen & Toubro invested $160.80 million in its wholly owned unit in the United Arab Emirates for business in financial services.
Gujarat, Telangana to roll out policies to encourage manufacturing
In the first two months of the current fiscal, Indian exports of finished steel reportedly grew by almost 76 per cent on a YoY basis and China alone accounted for close to 60 per cent of the increase.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
