Steel companies have reduced flat product prices by Rs 500-1,000 a tonne across categories in keeping with market conditions.
The Federation of Indian Mineral Industries has strongly objected to Indian steel companies' policy of selling surplus iron ore in the domestic market and crying for a ban on iron ore export to meet shortage of the commodity.
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.
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.
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 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.
Naxal violence in Orissa has also put several investment proposals in jeopardy.
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.
India's steel imports from China, the world's biggest producer of the alloy, doubled in April-September from a year ago though the country has enough capacity to meet its demand.
Following price hike of Rs 500 per tonne by Steel Authority of India Ltd, other private producers on Monday announced hike in prices of hot rolled coils by the same amount.
Tata Steel has committed itself to maintain prices till March 2005.
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.
In the domestic segment, demand is currently led by rural markets, oil and gas, LPG and B2C segments like roofing and sheeting.
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.
In the clip of about 40 seconds, a man is seen pouring water from a can into a pan, following which five cheetahs sitting under the shadow in the vicinity walk up to the utensil and start drinking the water.
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.
The earthquake rocked many parts of Thailand including its capital Bangkok, the venue for next week's summit of BIMSTEC regional grouping that is scheduled to be attended by Modi among other leaders.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
High frequency indicators, like vehicles sales, air traffic, steel consumption and GST E-way bills, point towards a sequential pickup in momentum of economic activity during the second half of the fiscal 2024-25 and sustain moving forward, RBI Bulletin said on Wednesday. However, a strong dollar, driven by US economic resilience and trade policy pivots, could exacerbate capital outflows from emerging economies, push risk premiums higher, and intensify external vulnerabilities, said an article on 'State of the Economy' published in RBI's February bulletin.
Mjunction plans ventures for chartering ships and selling tea to businesses.
Stunning landscapes, natural beauty, clean beaches, cultural wealth, mouth-watering food, shopping options, safety for solo travellers, warm hospitality, easy visas, and connectivity make Vietnam a must-visit destination, discovers Ramesh Menon.
He said this in response to a query during a press interaction held at his residence in New Delhi on what Germany was willing to do bring over three-year-old Ariha back and whether her issue will be raised at the "highest level".
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
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.
Reconstruction of the terminal is expected to be completed by September 2028.
Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap up 0.5% and 0.6%.
Higher import duties on steel improve the bottom lines of steel-makers, but depress those of downstream users of steel.
After struggling to acquire land for a steel plant in Orissa since 2005, Korean steel giant Pohang Iron and Steel Company (Posco) has found a way of gaining a foothold in India. It has agreed in principle to tie up with state-owned Steel Authority of India Ltd for a steel project that is likely to cost upwards of Rs 15,000 crore.
Ruias to sell Essar Steel stake to strategic partners.
The organisers of the rally said the steel pipes made in India, destined for use in the Keystone Pipeline being built by TransCanada from the oil fields of Alberta in Canada to the Conoco-Phillips refinery in Illinois, are being unloaded from nearby railroad cars and transferred to tractor trailers at a time when some 2,000 workers at USS Steel have been laid off from the adjacent steel mill.
'He asserted in his usual jovial style that he was not an MBA like his audience at IIM-Ahmedabad but perhaps had an even better business degree: MBB'. 'He went on to explain to his perplexed, blue chip B-School audience that MBB stood for "Marwadi by birth"!' Shivanand Kanavi salutes Shashi Ruia, co-founder of the Essar group who passed into the ages on November 25, 2024 in Mumbai.
Prime Minister Narendra Modi had in June dedicated the modernised and expanded Bhilai Steel Plant to the nation.
CBI has also named unknown officials of the union environment ministry in the PE.
Some people stand out just by being unassuming. Sanak Mishra, chief executive officer (CEO), Mittal Steel India, is one of them.
