It's been months since Jindal returned the private land to the state government, free of cost, but not a cottah has been distributed
In the domestic market, the Tata Group has lost ground in the passenger car business.
The Central Bureau of Investigation is likely to question Congress Member of Parliament Naveen Jindal this week in connection with its First Information Report against him and his company for alleged cheating while applying for coal block.
JSW Steel, Tata Steel, Steel Authority of India, Bhushan Steel, Essar Steel, Jindal Steel & Power, and Rashtriya Ispat Nigam are among the top producers of the alloy in the domestic market
If tweets can do so much, why do we need an independent regulator and multiple committees discuss and recommend policy?
After subdued earnings in the first half amid global headwinds, India Inc is taking a cautious approach on their capital expenditure (capex) for the second half of the financial year ending March 2025, according to management commentary. Minutes from the October monetary policy meeting show the Reserve Bank of India's (RBI's) optimism about private investments picking up.
Russia's war on Ukraine has sent steel prices soaring to its highest levels in the domestic market since November 2021. But there is little cheer in the industry. That's because input costs are spiralling out of control, leaving the big boys nearly as high and dry as the small, medium and secondary steel producers. Russia and Ukraine are major providers of steel and raw materials to the world.
Govt to issue ownership rights of 15 coal mines on Mar 23.
Programme will create world's largest energy saving certificate-trading platform.
India is planning to soon sign new and updated mineral pacts with about a dozen countries in Africa. The Ministry of Mines is in discussions with Cte d'Ivoire, Democratic Republic of the Congo (DRC), Madagascar, Malawi, Mali, Morocco, Mozambique, South Africa, Tanzania, Zambia and Zimbabwe, Business Standard has learnt. Negotiations are ongoing with around a dozen countries, and more will be added to the list soon.
The civilian leadership informed the military authorities that Sharif's hour-long meeting with Jindal was a part of back-channel diplomacy. And Jindal had the backing of some important Indian officials for the meeting to defuse ongoing tension between the two countries, the report said.
Industrialist Naveen Jindal, fighting to win the Kurukshetra Lok Sabha seat for a third time, has more than just Narendra Modi to contend with. Joel Rai reports.
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
Four companies, including India's largest private sector electricity generator Tata Power and infrastructure major Larsen & Toubro Ltd, chose not to bid for the Rs 16,000-crore ultra mega power project (UMPP) in Tilaiya in Jharkhand even as Reliance Power, Lanco Infratech and NTPC Ltd, the country's largest power producer, submitted their technical bids.
With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts. Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) - Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem - constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
Prices in the domestic market are increasing because there is a demand pull, and internationally, prices have gone up.
A reading of the reports suggests that there is no standard practice for reporting political contributions and it is left to the company's discretion to report them as they find fit.
'Interim Budget has ignited the entrepreneurial spirit.'
JSW Energy aims to generate 11,390 Mw in the country by 2015. The company has tied up with two consortiums of lenders, led by IDBI Bank and State Bank of India, respectively, for the loans. It had recently filed a draft red-herring prospectus for a Rs 3,000 crore (Rs 30 billion) public offering with market regulator Securities and Exchange Board of India.
This is the first time India is offering coalmines to private companies for commercial sale.
The JSW Group has expressed interest to develop a 900 MW pumped storage hydel power project and a state of the art rolling shop for steel in West Bengal, company chairman Sajjan Jindal said on Wednesday. He announced the projects while addressing the inaugural session of the Bengal Global Business Summit, organised by the state government, in Kolkata. "We are keenly pursuing a 900 MW hydro pumped storage project. "This will bring clean energy to the state and we hope to receive this prestigious project through a nomination from the state government," Jindal said.
In the domestic segment, demand is currently led by rural markets, oil and gas, LPG and B2C segments like roofing and sheeting.
Traders blame demonetisation for subdued demand in retail segment
An analyst who tracks investments for a Singapore-based foreign institutional investor, said, "The story doing the round in stock market circles is that companies that have been allocated coal blocks can make a lot of money by selling power at merchant rates."
Savitri Jindal has retained the tag of being the richest woman in India with a networth of $5.2 billion
A primary producer said that the prices would be raised in tranches this month and the total increase could be Rs 6,000 a tonne.
Coal production by Coal India (CIL) has grown slower than the captive mines, awarded over the last six years. During 2020-22, production from the captive mines jumped by 38.5 per cent while CIL saw a tepid growth of 3.4 per cent, according to government data. In terms of dispatch to the power sector, captive mines have raced ahead, witnessing a growth of 72 per cent compared to 15 per cent for CIL. For the current fiscal year, CIL's production is expected to be around 565 million tonnes.
Mukesh Ambani has reclaimed the top position on the 2023 Forbes list of India's 100 Richest with a net worth of $92 billion. The fortune of infrastructure magnate Gautam Adani, who rose meteorically to overtake Ambani as India's richest person for the first time last year, has slipped to the second position. Adani's net worth, which includes that of his family, fell by a whopping $82 billion to $68 billion, after a report by US short-seller Hindenburg Research in January sent his group's shares tumbling.
India has attracted investment worth $1.6 billion for projects in the fields of power, steel, construction and engineering special economic zones from Japanese companies.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
The government on Friday issued fresh show cause notices to prior allottees of coal blocks like JSPL, JSW and Tata Steel, asking reasons behind delays in mines development and warned of deduction in their bank guarantees if they failed to furnish replies.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
A number of private companies have contributed to the development of ISRO's Chandrayaan-3 spacecraft which successfully landed near the south pole of the Moon on Wednesday evening.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
Two traders - Jindal Steel and Power Ltd and GMR Energy Ltd - have already surrendered their licences.
Union Budget 2014-15 is positive for metals and mining companies.
