Bansuri Swaraj, the daughter of former Union minister Sushma Swaraj, will contest the upcoming Lok Sabha polls from the New Delhi seat and incumbent MP Manoj Tiwari from Northeast Delhi as the Bharatiya Janata Party on Saturday announced the names of five candidates from the national capital, dropping four MPs -- Meenakshi Lekhi, Harsh Vardhan, Parvesh Verma and Ramesh Bidhuri.
"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
Mittal's total remuneration dipped marginally by 2.52 per cent.
"There could be a slight delay in getting the approval from SEBI, so there could be few days delay in starting the open offer but we are still on target to complete this transaction by middle of December."
India-born billionaire Lakshmi N Mittal may take 49 per cent stake in Hindustan Petroleum Corp Ltd's under-construction $3 billion refinery at Bhatinda in Punjab.
\n\nNRI steel tycoon Lakshmi Mittal appears to have crossed the first hurdle with three European regulators publishing the official $22.1 billion bid for his takeover of the Luxembourg-based Arcelor steel company.\n
The company's statement comes amid reports that the steel tycoon will get a one billion pound windfall from a European scheme to curb global warming, if it chooses to sell its excess carbon credits.
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.
A CII delegation, led by Confederation of Indian Industry president and Bharti Enterprises CEO Sunil Bharti Mittal, called on US Democratic presidential candidate Senator Hillary Rodham Clinton at the Capitol Hill in Washington, DC on Wednesday.
In corporate India where family disputes have become far too common, the Miglanis work as a team.
The Mittal family stake has shot up to £14.881 billion ($26.517 billion), according to the Sunrise Rich List.
Non-Resident Indian steel magnate Lakshmi Mittal has donated £2 million to the Labour party.
The world's largest steelmaker, Mittal Steel Co. will buy 36.7 per cent stake for $316 million in China's Hunan Valin Steel Tube & Wire Co.
The L N Mittal-led giant is also said to be looking for a tie-up with Grupo Villacero, a steel distribution company in Mexico.
Mexican billionaire Carlos Slim remained the richest person in the world with $74 billion in assets, while NRI steel magnate Lakshmi Mittal ranked sixth and Indian industrialist Mukesh Ambani is placed ninth in the US magazine Forbes annual list of world's top billionaires.
Focus on building a healthy, happy, and fulfilling relationship instead of comparing them with your ex, suggests rediffGURU Ravi Mittal, QuackQuack.
Steel tycoon Lakshmi Mittal on Wednesday asked investors not to be perturbed by the fall in valuation of ArcelorMittal saying he is the largest stakeholder and is interested in creating more wealth for shareholders.
Reliance Industries Chairman Mukesh Ambani on Monday said his company is open to joining hands with Bharti Airtel for improving telecom network for 4G services in Punjab.
L N Mittal's foray into oil and gas trading business through a joint venture with ONGC is facing fresh opposition from refiner Indian Oil Corp, which feels the JV is ineligible to bid for its tenders.
Employees who benefit from rent-free accommodation should pay heed to these new regulations, especially if they are in the higher salary brackets.
China had earlier this month announced up to 9 per cent rebate on exports of steel products to boost the shipment and production of the commodity. The Indian steel industry, along with its global counterparts, had taken strong exception to it and demanded import-restricting measures be imposed urgently.
Steel czar Lakshmi N Mittal is keen on selling half of his stake in a Kazakhstan oil field to state-run ONGC Videsh Ltd to tide over the severe financial constraint affecting his planned expansion in energy sector.
The federal agency started its operation in the morning, with around 100 officers mobilised to swoop down at the 30 locations in multiple cities of Jammu and Kashmir, Punjab, Haryana, Uttar Pradesh, Bihar and Rajasthan, besides Delhi and Mumbai, the officials said.
The company, headed by NRI billionaire Laxmi N Mittal, had clocked $0.345 billion net loss in the January-March quarter of the last year.
Among the eight secretaries are Bansuri Swaraj, former Delhi chief minister Madan Lal Khurana's son Harish Khurana and Imprit Singh Bakshi.
Chinese steel industry has for the first time openly expressed concern over the merger of global steel giants, Mittal with Arcelor saying it posed "great challenge" for the domestic industry.
Indian-born steel tycoon Lakshmi Mittal became the third richest person in the world, trailing only Microsoft chief Bill Gates and US investment guru Warren Buffett.
Both the accused placed on record the apex court's order and submitted separate personal bonds.
NRI steel tycoon Lakshmi Mittal has lost a long-running dispute with his neighbour, a member of the Saudi Arabian royal family over construction of a new block of flats.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
ArcelorMittal is spending $5bn to double the output of its plant in Kazakhstan in a further expression of confidence by the world's biggest steelmaker in the likelihood of robust economic growth outside the main developed regions. Some $1.2bn of the investment is geared to improving health and safety at the steel plant in Temirtau and associated coal and iron ore mines.
Britain's richie-rich club saw their wealth melting away by more than half to 200 billion pounds in a year marked with a severe economic downturn, while Indian-origin steel tycoon Lakshmi Mittal took the biggest hit.
ArcelorMittal does not favour futures trading in steel, as it could distort the prices of the commodity completely.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
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