The death toll in Wednesday's explosion at a steel plant here rose to 15 on Saturday with three more employees succumbing to burn injuries.
The company, in a notice to shareholders, said it would come out with a rights issue of ordinary shares and cumulative convertible preference shares, besides issue of securities in the domestic or international markets.
'The concept of an MP IPL team is the brainchild of Kamal Nath.' 'If the Congress government comes to power in the state, he will assemble an IPL team for MP with the assistance of his business contacts.'
Companies attribute declining sales to the lack of demand from the automobile, real estate and consumer durables sectors, which are facing rising inventory levels that have choked cash flows.
In its first foray into the US West Coast, NRI industrialist Swraj Paul's Caparo Group on Friday opened a $40 million steel plant.
Twelve rat-hole mining experts are involved in the horizontal excavation through the last 10 or 12-metre stretch of debris of the collapsed portion of the under-construction tunnel on Uttarakhand's Char Dham route.
Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector - encompassing paints, pipes, wood panels, tiles, metals, and cement - as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. "The government's various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
Tata Sons chairman Natarajan Chandrasekaran was paid Rs. 113 crore as remuneration for 2022-23 (FY23), including Rs. 100 crore as commission on profit. Chandrasekaran, 60, often referred to as Chandra, received a remuneration of Rs. 109 crore in 2021-22 (FY22). With this, Chandra has emerged as one of the highest-paid chief executive officers (CEO) in Corporate India for FY23.
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
Auto, pharma, IT, chemicals among sectors with significant reliance on UK and European nations with Tata Motors, Motherson Sumi, Tata Steel, TCS, Wipro, Infosys and Tech M among key names.
To up stakes in 'globally active' firms by 3 to 4% this year.
Vinod takes centrestage as Pramod stays away from deal; uncertainty over the latter's continuity on Ispat board.
FM targets to collect Rs 70,00 crore from their sale.
Hit by weak demand and prices in its main European market.
State-owned SAIL on Monday said it will invest Rs 100 crore (Rs 1 billion) to revive its Uttar Pradesh unit, formerly known as Malvika Steel, which the steelmaker acquired last year.
Ispat promoters Pramod and Vinod Mittal will hold 26 per cent stake in the company.
The world's largest steel company ArcelorMittal, led by India-born Lakshmi Mittal, on Thursday said it will acquire a majority stake in steel maker China Oriental Group for about 6 billion Hong Kong dollars.
From the Sensex pack, JSW Steel, Tata Steel, NTPC and UltraTech Cement emerged as major winners, closing the day with a gain of up to 3.33 per cent. On the other hand, Asian Paints, ITC, L&T and SBI were the laggards, ending the session up to 3.95 per cent lower. Of the 30 Sensex stocks, 14 closed the day in green, while on the 50-stock index Nifty 25 scrips ended with gains.
NRI steel tycoon L N Mittal on Wednesday said valuation of steel companies in India had come down significantly but there were no sellers.
As India's first solar exploration satellite reached space, four Kerala public sector undertakings, including Keltron, have reason to be delighted as they too have contributed to this achievement by the country. Various products indigenously developed and manufactured by the four PSUs - Keltron, Steel and Industrial Forgings Limited (SIFL), Travancore Cochin Chemicals (TCC) and Kerala Automobiles Ltd (KAL) - have been used in the Aditya L1 mission. This milestone achieved by the PSUs was highlighted by state Industries Minister P Rajeev in a Facebook post.
Company says no project in Jharkhand without allotment of SAIL-owned Chiria mines.
Pakistan's supreme court on Wednesday issued a contempt notice to Interior Minister Rehman Malik for constituting a new investigating team to probe the alleged corruption in a state-run steel company without seeking its consent.
In an announcement sent to the Bombay Stock Exchange, Musco said that due to the on-going economic slow down in the steel as well as automotive industry, and taking into account the slowdown in demand for the company's product, it has been decided to align the company's production plan with the expected demand.
'The situation is much better now. Last night, we had to work on two things. First, we had to revamp the platform of the machine... Parsons Company had done the ground penetration radar, through which we got to know that for the next 5 meters, there is no metallic obstruction. This means that our drilling should be smooth. When we were taking out the debris, we got two mangled pipes'
Tata Steel plans to expand capacity to 10 million tonnes at Jamshedpur by August 2011 from 6.8 million tonnes.
Global businesses still believe that India consumption story is intact despite the slowdown of the past couple of years.
Many top firms have had to write down their investments, as the value of those have collapsed due to sluggish biz conditions.
The Australian government has supported a proposal from Indian steel companies for acquiring equity stakes in coking coal companies and coking coal properties in the country.
Mittal Steel is offering about $23.2 billion cash and its own shares for Arcelor.
Despite multiple headwinds at the start of 2023, the Indian markets delivered a strong performance, posting 19-20 per cent growth for the year. Even as new records were set, investor sentiment remains strong going into 2024, given the lower inflation, expectations of steady to lower interest rates, higher economic growth, and strong inflows. However, the overriding concern for most brokerages is valuations.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
Promoters have not proved they mean well for the community.
Ajit Mishra answers reader queries on the stock market.
One of China's largest steel companies, Baotou Iron & Steel is in talks with the world's top steel maker, Arcelor Mittal over the possible sale of 49 per cent stake, the official media reported on Friday.
SBI Caps readies plan, identifies 4 assets; bankers say there are enough bidders.
