The world's second largest wire rope manufacturer Usha Martin Limited is keen to enter the Chinese market for which it is carrying out a detailed study, its chairman B K Jhawar said on Saturday.\n\n
Usha Martin, the Kolkata-based specialty steel maker and wire rope manufacturer is planning to go for acquisition of wire rope units in the United States while aiming at export earnings of Rs 400 crore (Rs 4 billion) during the current fiscal.
The rival promoter group and the entire block of public institutions voted against Basant Jhawar.
Adani Power bagged Jitpur mine in Jharkhand.
Tata Steel has built an iron ore chest of nearly 600 million tonnes (mt) and will look for more as it prepares for life beyond 2030 when its legacy captive mines come up for auction. The lease for four of its existing iron ore mines -- Joda East, Noamundi, Katamati, and Khondbond -- that feed the domestic operation with low-cost iron ore is going to expire in 2030, following changes in mining regulations. The year will also coincide with Tata Steel's ambitious target of doubling steelmaking capacity in India to 40 mt, increasing the need for iron ore. The company is pushing the pedal to ensure that it has enough resources to meet enhanced needs.
The steelmaker's India basket grew after Tata Steel completed its acquisition of Bhushan Steel under the Insolvency and Bankruptcy Code process and its subsidiary, Tata Sponge, acquired Usha Martin.
Consolidating its position in the Hutchison-Essar telecom venture, Ruias' Essar Teleholding have increased their stake to 30.42 per cent in the JV by buying out 3.43 per cent stake held by a Hutch's subsidiary Usha Martin Telemetics for Rs 267 crore
Developers could not find the model of affordable housing viable as they used same resources for premium projects and due to rise in cement and steel prices.
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JSPL and Balco had emerged as the highest bidders in the recently concluded auctions.
The editor used a novel strategy to completely reinvent it, but what's ironic is that what began as a search for funds to expand may now result in a change in ownership.
Nirmal Jain of India Infoline discusses his view on various stocks based on their earnings performance.
Top companies have grabbed a bigger pie of their sectors in the pandemic period, leading to a further rise in market concentration in many industries as measured by the Herfindahl-Hirschman Index (HHI). The HHI score, which indicates competitive intensity in an industry (or a lack of it), reached a new high in FY21 as bigger firms raised their revenue market shares either organically or through mergers and acquisitions. A higher HHI score indicates a rise in market concentration in favour of a few firms while a lower score means that the industry's revenue is more evenly divided among many companies
Tata Steel delivered one of its best financial performances ever in the third quarter of the current financial year, and surpassed its deleveraging target of $1 billion. In an interview, Koushik Chatterjee, executive director and chief financial officer, Tata Steel, tells Ishita Ayan Dutt that the company will continue to focus on deleveraging but profitable and value-added growth will be equally important.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The company's planned capex for 2019-2020, which was Rs 12,000 crore, has now been revised down to around Rs 8,000 crore.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
Through the newly created business vertical Happinest, MLDL will launch two such housing projects in Boisar near Mumbai and Avadi in Chennai.
The department of revenue in a notification on Wednesday said anti-dumping duty is being imposed for six months on the import of wire road of alloy or non-alloy steel from China.
Govt to issue ownership rights of 15 coal mines on Mar 23.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Bids for eight coal blocks were sent for re-examination.
At the end of 2018-19, the Tata group had a consolidated debt of Rs 2.77 trillion. Tatas not only plan to avoid big-ticket acquisitions for now, the group's main focus will be on improving key metrics and reduce debt, say Shally Seth Mohile & Dev Chatterjee.
While three operational mines in Chhattisgarh had a capacity of 12 million tonnes (mt), six were yet to start production.
It is hoped that the decision of India's apex court will send a signal to politicians and their cronies from the world of business that the rule of the law does eventually prevail, says Paranjoy Guha Thakurta.
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