Domestic steel giant SAIL sees its workforce shrinking by up to 7,000 this fiscal as it continues with the rationalisation of manpower aimed at reducing employee cost by Rs 3,50,000 crore (Rs 3,500 billion) per annum.
The government's ambitious plan to make Steel Authority of India Limited a mega PSU may hit a roadblock with several smaller PSUs under the Steel Ministry expressing unwillingness to merge with the steel behemoth.
The PSU steel major has now set a target of completing the mega project--aimed at augmenting its annual production capacity to 23.46 million tonne from the present 14.6 MT-- to 2012-13 from the earlier deadline of 2011-12.
A magisterial probe has been ordered into the incident of leakage of poisonous gas at Steel Authority of India Limited's Bhilai plant in which six people, including two deputy general managers, were killed and about 30 others injured.
According to Religare, the revised announcement implies a significantly lower cash call on the markets -- from $32 billion over FY11-FY15 expected earlier to a total issuance of $9.4 billion over the same period (with $4.6 billion coming in from public sector units as against $26.3 billion earlier).
Karnataka and Steel Authority of India Limited from Orissa scored hard-fought victories in their respective boys' quarter-final matches to set up an interesting semi-final in the 35th Junior (under-20) National Hockey Championship, organized by Pune District Hockey Association in association with the Pimpri-Chinchwad Municipal Corporation, under the auspices of the Indian Hockey Federation.
Union Finance Minister Pranab Mukherjee's son Abhijit Mukherjee on Monday quit his job from Steel Authority of India Limited to join politics and contest the upcoming West Bengal assembly elections.
Prime Minister Narendra Modi had in June dedicated the modernised and expanded Bhilai Steel Plant to the nation.
They were among nine corporates that reported over a Rs 1,000 crore gain in market capitalisation in a month
Minister of State for Petroleum and Natural Gas Jitin Prasada has said state-run oil companies have the freedom to fix petrol prices, but the government will step in if rates shoot up "indiscriminately".
SAIL (Steel Authority of India Limited), Orissa, continued their impressive form at the 35th Junior (under-20) National Hockey Championship for boy's and girl's, as they scored another authoritative win, handing Manipur a 7-1 defeat, for their second successive win in Pool 'A', at the Major Dhyanchand ground, Pimpri-Chinchwad, Nehrunagar on Sunday.
A Group of Ministers on public sector Steel Authority of India Limited will meet on Friday to review its performance and restructuring.
Maoists on Friday exploded a bomb in Meghatpur mine and planted another at Kiribur, both run by public sector Steel Authority of India Limited along the Orissa-Jharkhand border. The attack comes hours after the Maoists blasted rail tracks in Jharkhand's West Singhbhum district that derailed the Tata-Bilaspur passenger train leaving two passengers dead.
When the landslide hit, Sruthi's house was washed away, along with its inhabitants. She lost her entire family and some relatives. All she had left for a close confidante was her fiance Jenson. Days after the landslide and the loss of her family, Jenson died in a road accident that also left Sruthi with serious injuries. News of the accident and Sruthi's backdrop as the lone surviving member of a family wiped out in the July landslide, was picked up by the media, and people rushed to help.
However, the steelmaker said it will continue with the withdrawal of the Rs 500-750 per tonne rebate announced on the flat steel products -- mainly used by the automobile and the consumer durable sectors -- last month. Steel giant Tata Steel, which raised prices of some of its products last month by Rs 500-750, said there is no scope for increasing prices of the commodity in the near term and the domestic prices will continue to move in tandem with the global trend.
The CBI suspects that an area around the Steel Authority of India Limited guest house in Shantiniketan was the place where the planning of the theft of Rabindranath Tagore's Nobel prize and other articles had been made.
As a part of the 235 km Dallirajhara-Rowghat-Jagdalpur railway project, Antagarh, which has a Nagar Panchayat, is now connected to state capital Raipur by a train service.
In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
If you want to see what India should be like and how Indians should live, you have to see Bhilai, says Colonel K Thammayya Udupa (retd).
There is no proposal to merge Nilachal Steel Corporation with SAIL but the process for the government's proposed merger of Nilachal Ispat Nigam Limited with Steel Authority of India Ltd is underway, the Lok Sabha was informed on Monday.
'He was a cricketer who come once in a lifetime...'
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Describing the summit as 'positive and constructive throughout', the chief minister said a lot companies have committed to invest in money into the state.
I suggest we build a Vigyan Mandir (Temple of Science) with the ambience of a place of worship, so that it becomes a destination for pilgrims. We should embed on its walls bronze plaques describing each scientist mentioned here along with about a dozen of our ancient mathematicians, recommends Professor Kalyan Singhal, historian of science and technology.
'I'm 79 + now, and I've been doing all this since my late 20s.' 'Sometimes the ideological war extends to the home as well.' 'Many nights I couldn't sleep when someone close to me uttered the smallest insult.' 'It would cause me a lot of pain. But one has to be honest to oneself.'
The dollar index was down by about 0.35 per cent against a basket of six major global units as yen strengthened against it and euro moved in a narrow range on uncertainty about whether Cyprus will be able to secure a bailout.
In the prevailing difficult circumstances, the Congress is the only party that can provide capable and decisive leadership to the country, Kharge asserted.
Ready to protect the waters, India's first indigenously-built anti-submarine warfare corvette INS Kamorta will be handed over to the Indian Navy on Saturday, defence officials said.
Barclays further said there is increased momentum in announcements of equity offerings in public sector units, 'which suggests upside risks to our estimate of fiscal divestment proceeds of Rs 25000 crore in the next fiscal,
India will launch its first indigenous aircraft carrier INS Vikrant on Monday, making an entry into a select club of countries capable of designing and building a carrier of this size and capability.
NHAI has already initiated process to handle such emergency situation and also taking all possible measures to avoid such incidents in future, an official statement said on Sunday.
Two projects in Iran, which India is to execute involving major financial commitments on its part, are of particular significance for Indian steel.
India's sourcing from China may not necessarily be for cost-effectiveness alone but also for the lack of domestic qualified bidders, technology or other know-how.
The Prime Minister will formally launch the Rashtriya Kaushal Vikas Yojana and the National Skills Mission on July 15
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Indian Navy has a big role to play in support of our strategic objectives in the Indian Ocean. The increasing Chinese presence in the Indian Ocean is a matter of concern and need to be factored. Hence, the requirement of an Aircraft Carrier is a foregone conclusion, asserts Commodore Venugopal Menon (retd).
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday. K Rajaraman, additional secretary in the department of economic affairs, has been appointed as secretary, department of telecommunications, a personnel ministry order said.
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