A new government has taken office in Australia, which has said it will review its predecessor's controversial proposal for a 40 per cent super-profit tax on mining revenues.
The S&P BSE Sensex and the Nifty50 have hit record highs amid the poll outcome-triggered bull frenzy at the bourses. Most analysts feel that the indices are on course to rise further over the next few months - till the general elections - albeit amid intermittent corrections - largely triggered by global developments. Bharatiya Janata Party's (BJP's) win in the three state elections of Madhya Pradesh (MP), Rajasthan and Chhattisgarh, analysts at Jefferies believe, reinforces the consensus expectations of a Modi win 2024 national elections with a greater likelihood of over 300 seats for the BJP.
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.
Britain's traditionally anti-EU media have blamed Brussels for preventing London from taking greater steps to protect the industry.
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.
Kicking off its disinvestment drive, the government will sell 5 per cent of its stake in steel major SAIL on Nov 5.
"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.
'A microcosm of India, inclusive and welcoming'. For years, Pragati Maidan was the centre of Delhi's social life.
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.
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.
A Group of Ministers on public sector Steel Authority of India Limited will meet on Friday to review its performance and restructuring.
A 25 per cent year-on-year (Y-o-Y) increase in budget allocation towards the roads sector for FY24 has led to renewed interest among investors. However, a combination of escalating costs for Bharatmala and unseasonal rains to some extent have impacted progress. Bharatmala's cost has nearly doubled from Rs 5.35 trillion to Rs 10.6 trillion and the finance ministry has asked MoRTH to go slow until Cabinet approval is received.
After the revival of its ailing subsidiary IISCO, Steel Authority of India Ltd has sought the Centre's approval to merge it with itself.
Mechanised mining is set to become operational in Chiria in three years' time.
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.
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.
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.
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.
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.
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.
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