Tata Steel on Wednesday reported a 272 per cent year-on-year (Y-o-Y) jump in consolidated net profit, attributable to owners, at Rs 3,101.75 crore in the second quarter of 2025-26 (Q2FY26) led by higher sales volumes in India and planned cost takeouts across geographies.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Tuesday gave its approval to Vedanta Limited's demerger proposal, clearing the way for the group to reorganise its operations into five distinct, sector-specific entities.
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.
The enduring relationship between the two countries have survived the disintegration of the erstwhile USSR in 1991, the end of the Cold War and the regime change in both countries, points out Rup Narayan Das.
'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
To prevent companies from submitting unrealistic quotes to bag project contracts across industries, the government is planning to soon roll out a mechanism to curb irrational bidding.
The country's largest steel producer has targeted to install an annual production capacity of about 23 million tonnes against the present 14 million tonnes.
The reconstructed Carnac Road overbridge in South Mumbai has been renamed as Sindoor Bridge, a name inspired by India's military action against Pakistan to avenge the Pahalgam terror attack.
The east-west connector, earlier known as the Carnac Bridge and named after former Bombay Province governor James Rivett Carnac, who held the office from 1839 to 1841, has been rechristened as 'Sindoor Bridge' (after Operation Sindoor).
The recent notification by the Insolvency and Bankruptcy Board of India (IBBI) allowing part-resolution of stressed assets of companies under the insolvency process has sent many resolution professionals (RPs) and committees of creditors (CoCs) back to the drawing board to reassess their strategies for resolving corporate insolvencies.
India's public sector steel companies will spend a whopping Rs 230 crore (Rs 2.30 billion) on corporate social responsibility to build 'Model Steel Villages' across the country during the current financial year.
The reconstructed Carnac Road Over Bridge in Mumbai has been renamed 'Sindoor Bridge' as a tribute to the Indian military's 'Operation Sindoor'. The bridge, rebuilt after being declared unsafe, aims to ease traffic congestion in south Mumbai.
The increase in prices by the country's largest steel producer is effective from April 1.
SAIL and RINL at present produce about 18 million tonnes of the commodity. Navratna mining giant NMDC is in the process of setting up a three million tonnes per annum (MTPA)-steel unit in Chhattisgarh. Despite the prevailing economic slowdown, the expansion programmes of these public sector entities are going on full swing, Rastogi said, adding that SAIL is likely to hit the capital market to raise funds for the capacity augmentation.
The report says that SAIL had started clearing forests, but since October, 2010, it could cut down only 12 trees till now.
There is no change in prices of long steel products, consumed mainly by the infrastructure and construction firms.
On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing. The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).
Steel Authority of India Limited said on Wednesday it has hiked steel prices by up to Rs 600 a tonne, effective from March 1, on account of increase in excise duty.
Arun Maira who worked for 25 years with the Tata Group, remembers his early years with Ratan Tata.
The official said the price hike was on account of an increase in input costs, adding that the revised steel prices were effective from January 1.
Flat steel products are used by consumer durable industries and the automobile sector, while the long steel products are consumed primarily by the construction industry.
The share sale would see government offloading 10 per cent of its stake in the steel maker, while the company will raise fresh equity in the same proportion.
Delhi International Airport Limited (DIAL), which operates India's largest airport, dismissed the expert committee report as "inaccurate", claiming it relied on "probabilities, hypothesis, and conjectures" rather than empirical data or complete documentation.
Reconstruction of the terminal is expected to be completed by September 2028.
While Sachin Tendulkar's 2013 farewell became a national pilgrimage, a vibrant celebration befitting a cricketing deity, the exits of many other Indian icons this century have been quieter journeys into the twilight.
Naxal violence in Orissa has also put several investment proposals in jeopardy.
"Earlier, India was a land of snake charmers. Now, Americans perceive Indians to be very smart. The infotech revolution changed it all," says FICCI Secretary-General Amit Mitra.
India on Monday announced the results for the country's first critical mineral auction. Amid the tepid response from big players, the list of successful bidders included some lesser known names. A total of five companies secured bids for six critical mineral blocks of graphite, manganese, phosphorite, lithium, and rare earth elements with auction premiums ranging from 13.05 per cent to 400 per cent.
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CBI has also named unknown officials of the union environment ministry in the PE.
SAIL chairman Sushil Kumar Roongta had recently said the company was looking to issue additional equity in the market.
In the domestic segment, demand is currently led by rural markets, oil and gas, LPG and B2C segments like roofing and sheeting.
An analysis of the financial performance of nine leading global companies during January-June 2009 showed that only three of them registered profits, with SAIL's profit being the highest.
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.
Steel minister Virbhadra Singh informed Lok Sabha in a written statement that the proposed disinvestment would be carried out in two tranches of 10 per cent each and would be a mix of diluting government stake was well as issuance of additional shares by the company.
On Tuesday, ArcelorMittal Group Management Board Member Sudhir Maheshwari had said during a conference call that they have made 'a proposal to SAIL and are in discussion with SAIL (to set up a steel plant through joint venture).'
Here are other gas leaks that made headlines in the last few years:
Telecom monolith Bharat Sanchar Nigam Limited is the top profit-making public sector unit, while steel giant Steel Authority of India Limited had the dubious distinction of topping the list of loss making state-owned enterprises.
Steel Authority of India Limited and Posco are in discussions to set up a 1.5 million tonne integrated plant in Bokaro to produce high grade steel from low-grade iron ore and non-coking coal by using the world's third largest steel company's FINEX Technology.
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