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.
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.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
"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.
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.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
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
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'.
Construction major Larsen & Toubro invested $160.80 million in its wholly owned unit in the United Arab Emirates for business in financial services.
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.
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.
Between 2007-08 and 2017-18, the number of countries they imported steam coal from has increased from six to 12.
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.
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.
Gujarat, Telangana to roll out policies to encourage manufacturing
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.
'Will tell BFI to decide what's best for nation'
Summary of sports events and persons who made news on Wednesday
The projects coming up in Bihar, Jharkhand and Odisha will together add 16,000 MW capacity to country's power generation.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
Anil Agarwal breaks into big three; Anil Ambani group out of top 10; Essar, Adani lose out to JSW, Shiv Nadar & Motherson Sumi
The NSE 50-share index, after moving between 10,572.20 and 10,546.20, ended at 10,565.30, up 39.10 points, or 0.37 per cent.
The profitability of industry is under stress and needs to be addressed by encouraging investments in the supply side infrastructure.
18-year old Javelin thrower Neeraj Chopra had recently scripted history by becoming the first Indian athlete to become a world champion at any level when he won a gold medal at the U-20 World Championships in Bydgoszcz, Poland on July 23. His 86.48m effort brought India's first World record and the country's first-ever gold in any World athletics championships. An attempt at a wild card entry into 2016 Rio Olympics didn't materialize and Chopra will now be one of India's top medal hopes at the 2020 Tokyo Olympics.
'All I am saying is just give me a chance. It is my dream to compete in the Olympics too.'
'I am not saying let me go to the Olympics. I am asking for a fair chance for a trial.'
'All these years I have been training for what? What is the point if I cannot compete?'
Indian firms raised the money via external commercial borrowings.
Rediff readers tell us about their first salary.
The trading firm is under pressure from lenders to raise funds.
Experts say the focus is on preserving liquidity as there is uncertainty over the duration and impact of the 21-day nationwide lockdown imposed to check the spread of COVID-19.
The steel sector, which has spent a lot of money to tap the automobile segment, is nervous on its investments.
In power, Mamata Banerjee has tried to bury the ghost of the past, but it might still be work-in-progress. Big-ticket and eye-grabbing (in terms of investment size) projects are still few and far between, reports Ishita Ayan Dutt.
The government on Monday decided to deallocate one more mine - Gourangdih ABC-- jointly given to JSW Steel and Himachal Emerging Markets Trade Association besides deduction of bank guarantees of two allottees for failing to develop mines within time.
It is not the lack of skills and poor education institutes, but the lack of passion to learn and poor choices that is holding India's young grads back.
