Faced with rising input costs and increasing competition, Steel Authority of India Ltd has embarked on a Rs 400 crore (Rs 4 billion) cost-reduction exercise in the current fiscal in areas of raw material usage, energy and refractory consumption.
"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.
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).
Steel Authority of India Ltd, the country's largest steelmaker, will invest a massive Rs 100,000 crore for expanding capacity to 40 million tonnes by 2020, Steel Minister Ram Vilas Paswan announced in New Delhi on Friday.
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.
The government holds 85.82 per cent stake in SAIL.
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.
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.
The share of foreign companies in private sector investments, directed towards building new factories and other facilities, has declined over the past six months. A mix of large domestic announcements and relatively lower growth in foreign capital expenditure (capex) plans have played a role, although foreign investments remain near record levels. The share of foreign companies in the overall private sector investments over the four quarters ended June 2023 has dipped to 14.9 per cent, as shown by a Business Standard analysis of data from the project tracker Centre for Monitoring Indian Economy.
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".
Steel Authority of India Ltd (SAIL) is looking for ventures into analogous sectors. While the state-run company is going for a follow-on public offer (FPO) in early 2011, it is looking at some aggressive expansion plans, and mergers and acquisitions as well, said Chandra Shekhar Verma, chairman and managing director.
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,
Last week, Chandra Shekhar Verma did something rather uncharacteristic for a state-owned company chieftain, especially one reputed to be a stickler for rules. The Steel Authority of India (SAIL) chairman - its youngest ever - openly criticised the government.
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.
Sam Bahadur is a mechanical summary of his life, ticking off one chapter after another without bothering to pause or ponder over their significance and influences, observes Sukanya Verma.
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.
A Group of Ministers on public sector Steel Authority of India Limited will meet on Friday to review its performance and restructuring.
In the prevailing difficult circumstances, the Congress is the only party that can provide capable and decisive leadership to the country, Kharge asserted.
Mechanised mining is set to become operational in Chiria in three years' time.
After the revival of its ailing subsidiary IISCO, Steel Authority of India Ltd has sought the Centre's approval to merge it with itself.
Putting an end to the fierce scramble for India's iron ore resources, the government has decided to split the Chiria iron ore mines in Jharkhand into two and give at least half the reserves to Steel Authority of India Ltd for its expansion plans. The other half will be kept for development by the private sector later, said informed sources.
Equity investments in 82 public sector enterprises have been completely eroded due to accumulated losses, an audit of financial statements conducted by the Comptroller and Auditor General of India revealed.
"The new food supply pipeline has also made it easier to supply better food in larger quantities to them, which is a good thing. Otherwise the situation remains the same," said Negi, who spoke to his brother.
'These are people whom very few give importance and they were doing a mammoth job for the nation.'
The dull overall scenario in the stock market seems to have hit the initial public offers (IPOs). In a first this year, there are no IPOs lined up for this month.
We are looking at bringing quality control orders for mass production items such as smart meters and ceiling fans. This will benefit our own industry and consumers, a government official said.
Deutsche Bank bid the lowest--which was promptly matched by five others--according to the sources. They said DB quoted 0.00000000001 per cent of the issue size as bankers' fee. That works out to 80 paise. The banks were apparently willing to waive the fee altogether, but what deterred them was that UBS was recently disqualified on technical grounds from the NTPC FPO as it had quoted nil fee.
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.
Coal India Ltd, Steel Authority of India Ltd, Bharat Heavy Electrical Ltd and Oil and Natural Gas Corporation were among the 15 top PSUs, which went about head hunting at the IIM-L. CIL and SAIL recruited 12 students each. "Out of the total of 267 IIM-L students graduating this year, PSUs recruited 65 students," IIM-L Placements Chairman Sushil Kumar told the media in Lucknow.
State-run Steel Authority of India on Tuesday said it will file the red herring prospectus in May for its forthcoming follow-on public offer, which is expected to hit the market in the first quarter of the next fiscal.
Steel Authority of India Ltd has posted a net loss of Rs 787.50 million as compared to a net loss of Rs 5853.80 million in the quarter ended December 31, 2001.
The weekly inflation had surged over 18%, as per the recently announced data. The Central Bank is scheduled for a policy review on January 25.
The government's aim is to ensure it gets to its Rs 40,000-crore (Rs 400-billion) target from disinvestment proceeds before the end of 2010-11.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances