Company says no project in Jharkhand without allotment of SAIL-owned Chiria mines.
With a 4-5 per cent rise in steel prices on January 1, cars and consumer durables are set to get dearer.
We asked you to share your 2 States stories and we've been inundated with your responses. Aparna Chandra shares hers:
Venkataraman Krishnamurthy, who is considered as the turnaround man of several Indian corporate houses like BHEL, Maruti Udyog, SAIL and Gail (India), passed away on Sunday at the age of 97. Krishnamurthy is considered as "the father of public sector undertakings in India" by many in India Inc. Born in the temple town of Tamil Nadu's Karuveli, he started his career as an airfield technician during the Second World War.
SAIL chairman Sushil Kumar Roongta had recently said the company was looking to issue additional equity in the market.
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.
A proposed Rs 9,000 crore (Rs 90 billion) greenfield modernisation and expansion programme is expected to give a fresh lease of life to Iisco Steel Plant, a unit of Steel Authority of India.
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
SAIL chairman C S Verma talks about the company's slated disinvestment and future strategies.
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.
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).'
'The scheme excludes tractors, light commercial vehicles, and medium and heavy commercial vehicles.'
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.
Steel secretary Atul Chaturvedi said on Sunday about Rs 13,000 crore (Rs 130 billion) would be raised from NMDC's stake sale, while SAIL would fetch Rs 19,000 crore (Rs 190 billion). He was addressing the media on the sidelines of the 47th National Metallurgists' Day celebration of the Indian Institute of Metals.
mjunction services, one of the largest e-commerce companies promoted by Steel Authority of India and Tata Steel, has shelved its initial public offering plan after Tata Steel indicated it would back the management team for its future expansion plans.
From World Cup titles to personal highs to heartbreaks, Virat Kohli witnesses it all at Mumbai's Wankhede Stadium
"We have already signed the Memorandum of Understanding with the Indonesian government and are in constant dialogue with the governments in Mongolia, South Africa and Oman for setting up the 3-mtpa steel plant," SAIL Chairman C S Verma said.
The companies that have signed these pacts with the India chapter of the Berlin-based Transparency International include PSU majors such as GAIL (India), Coal India, Oil and Natural Gas Corporation, Steel, Hindustan Petroleum Corporation, Steel Authority of India, National Mineral Development Corporation and Rashtriya Ispat Nigam. In fact, 12 of the 14 companies that signed the pact, did so in the last six months.
Anand did not quite re-work his energy and lost to Carlsen in the first game of the third day and then made a draw with compatriot Vidit Gujrathi.
One of the beneficiaries is Jindal Steel and Power, which had earlier been kept out of procurement for rails
Industry sources added that Posco India would be assured of a strong marketing network in India through SAIL's extensive all-India network and a dedicated port at Haldia. SAIL also has seven iron ore mines.
India and Australia would now implement the free trade agreement on a mutually agreed date as the Australian Parliament on Tuesday approved the pact between the two countries. "BREAKING: Our Free Trade Agreement with India has passed through parliament," Australian Prime Minister Anthony Albanese said in a tweet. The India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) needed ratification by the Australian parliament before its implementation.
Stocks of government probables for divestment or stake sale such as Steel Authority of India (SAIL), Mahanagar Telephone Nigam (MTNL), National Aluminium Company (Nalco) and Container Corporation (Concor) have outperformed the markets in the past one year.
Housing sector to benefit from Budget.
Union Steel Minister Ram Vilas Paswan on Tuesday announced the decision to merge the ailing steel plant with the Steel Authority of India Ltd and said the proposal would now be taken to the Union Cabinet for formal approval.
Steel Authority of India Ltd (SAIL) has accorded its in-principle approval to the expansion plan of Rourkela Steel Plant (RSP) at a cost of Rs 9,869 crore (Rs 98.69 bn), the sources said.
The company, which had earlier this month slashed prices of its products by up to Rs 2,000 a tonne, said it may remain steady.
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.
'He was a cricketer who come once in a lifetime...'
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
Move follows Tata Steel decision to sell its loss-making businesses in Britain
Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenfield slag-based cement manufacturing units with a total capacity of 3 million tonnes through a joint venture.
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.
Earnings growth in the early-bird sample has been driven by banks and iron & steel companies.
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.
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.
