Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
Shares of Reliance Industries as well as Bharti Airtel began the trade on a positive note on Wednesday after the two firms announced their partnerships with Elon Musk's SpaceX for providing high-speed internet services in India. Bharti Airtel stock opened with a gain of 5.49 pc to hit a high of Rs 1,388.25 apiece on the National Stock Exchange (NSE). Soon, it pared all gains and traded 0.77 per cent lower to Rs 1,650.10 per piece.
Tech billionaire Elon Musk thanked Telecom Minister Jyotiraditya Scindia for not agreeing with Indian tycoons Mukesh Ambani and Sunil Bharti Mittal on auctioning spectrum for satellite services, saying he is looking forward to serving Indians. Reacting to Scindia's statement that satellite spectrum will not be auctioned, Musk, in a post on X, said, "much appreciated! We will do our best to serve the people of India with Starlink".
India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.
Bharti Global, the international investment arm of Bharti Enterprises, has decided to buy 24.5 per cent equity in BT Group - a move that will make the Indian conglomerate the biggest shareholder in the UK's second-largest telecom company both in terms of market value and subscriber count. The shares are being purchased from billionaire Patrick Drahi's Altice UK through a combination of cash and debt .
Busy daters will use AI tools to save time and avoid awkward conversations. Two in 10 daters turn to AI for unbiased relationship advice, predicts rediffGURU Ravi Mittal, CEO, Quack Quack, an online dating Web site.
The first step to stay safe on social media is to block people who are annoying, says rediffGURU Ravi Mittal.
The estimated costs of these weddings start from Rs 100 crore and go up to Rs 700 crore.
The Supreme Court on Monday said the trial of the Manipur ethnic violence cases, probed by the Central Bureau of Investigation, would be conducted in Guwahati, Assam, where it was transferred to earlier.
The India-United States relationship is set to expand under the Donald Trump administration, but there could be some unease on issues like imports, tariffs and immigration, strategic affairs experts said after the Republican leader won the fiercely contested presidential election.
Telecom operator Bharti Airtel Chairman Sunil Mittal on Wednesday said the telecom sector reforms approved by the Cabinet will ensure that the industry is able to invest fearlessly, and the company will respond to Prime Minister Narendra Modi's call to invest and accelerate the country's growth. Among a series of breathers for the stressed telecom sector, the Cabinet has approved the inclusion of revenues earned only from telecom services in the adjusted gross revenue (AGR), and the removal of penalty on dues to be paid to the government prospectively. Mittal congratulated and thanked the government for undertaking these seminal reforms to lift an industry that is at the core of his Digital India vision.
There have been many films made on rape and sexual violence. Most of them hope that depiction of violence will help to titillate the audience. Mittal Vs Mittal also sets out with this objective but the audience is more likely to get repulsed than titillated.
Bharti Airtel chairman Sunil Mittal on Thursday said tariffs need to go up amid "tremendous stress" in the telecom sector, and Airtel will not hesitate to raise prices, but it will not do so unilaterally. The comments by the telecom czar came at a time when Airtel's rival Vodafone Idea has approached the government for a one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore - due in April 2022. Cash-strapped VIL has told the telecom department that while it is working on raising new funding for the last six months, "investors are not willing to invest in the company because they believe that unless there is a significant improvement in consumer tariffs, the health of the industry will not recover and they will incur a loss on their investment".
The top court asked the state government to spell out details of its actions taken against the culprits and the encroachers.
Arora will have to resign from the Rajya Sabha if he wins the bypoll, the date for which is yet to be announced.
The government must also look at rationalising the levies on the sector and close long standing legal disputes that are a big drag on performance of operators, he said.
India's biggest telecom players, Bharti Airtel and Reliance Industries-backed Jio Platforms, will soon bring billionaire Elon Musk-led SpaceX's Starlink satellite services to India. According to analysts, the move could boost India's tele density, especially in the rural areas, and may be an opportunity for investors to add the two stocks on dips for long-term gains
If there is uncertainty in the relationship, communicating that is the right thing. To keep someone waiting in the wings is selfish, says rediffGURU Ravi Mittal, CEO, Quack Quack, an online dating website.
Domestic steel prices have seen an increase over the past couple of months in anticipation of a safeguard duty, but a looming global trade war is likely to weigh as threat of import rises and prospect of export flounders. Data from BigMint showed that in March 2025, hot rolled coil (HRC) prices ex-Mumbai increased by Rs 600 per tonne month-on-month (M-o-M), rising from Rs 48,400 per tonne in February to Rs 49,000 per tonne.
Mansukh Mandaviya pitches for kho kho's inclusion in Asian Games, 2036 Olympics
The "weaponisation" of economic activity - through tariffs and sanctions - is now a reality, with countries leveraging these tools strategically, External Affairs Minister S Jaishankar said at the Raisina Dialogue recently.
An Anti-Corruption Branch (ACB) team visited AAP chief Arvind Kejriwal's residence in New Delhi following allegations of the BJP attempting to poach AAP candidates ahead of the Delhi election results. AAP leaders, however, refused to allow the ACB officials to meet Kejriwal, accusing them of acting under the BJP's influence. The situation turned tense as the ACB officials were unclear about their purpose and did not have a warrant or mandate for investigation.
The International Olympic Committee (IOC), on Friday, cleared Narinder Batra of indulging in any wrongdoing during his election as the IOA president, rejecting the complaint of irregularity filed by the Indian body's vice-President Sudhanshu Mittal.
Contra-dating is all about pushing boundaries. rediffGURU Ravi Mittal, CEO of online dating app Quack Quack, lists 10 reasons why everyone should try it at least once.
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
'You can either sulk and blame your destiny or you can choose to handle the situation with positivity.'
The company has made payment in compliance with Telecom Department's instructions for self assessment, Mittal said, adding that the Supreme Court had not mentioned specific amounts.
Ankur Mittal added to the Indian shooting contingent's medal rush by winning a bronze in the men's double trap event of the 21st Commonwealth Games, in Brisbane, on Wednesday.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
French government is up in arms against Lakshmi Mittal after 629 workers lost their jobs on closure of two furnaces of ArcelorMittal. Things have got so bad that President Holland has threatened to temporary nationalise ArcelorMittal. In France, people consider him as a big-bad mega-rich Indian who came to lay off workers and drive French steel industry to ruin.
In effect, he became the first former president to get the nomination for the top office after being convicted of a felony.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
'The size of the investments is important, but equally crucial is the number of jobs that these proposals create.'
Several exit polls have given the BJP an edge over the AAP, which has been ruling in Delhi since 2015.
The Committee of Creditors have issued ArcelorMittal and its partner Japan's Nippon Steel & Sumitomo Metal Corp a Letter of Intent declaring them as the "successful applicant".
Business tycoons at the Ambani's pre-wedding celebrations at Jamnagar, Gujarat.
But he is actively pursuing greenfield steel plants in Karnataka and Jharkhand; ultimately, only one of these might come up.
Mittal's salary in 2019-20 was Rs 26.97 crore, unchanged from the previous fiscal year. However the value of perquisites was Rs 99.8 lakh, down from Rs 1.87 crore a year back. His retirement benefits were unchanged at Rs 2.15 crore.
