Miners offer ownership-swap model, assure long-term supply at fair price in return for stakes in Indian companies.
Pennar Industries plans to pare down its interests in metal making while increasing focus on high-end engineering to counter volatility.
In a trend that may affect private equity (PE) inflows into the country, many institutional investors of PE funds are abandoning these funds to make their own investment decisions.
Arcelormittal's move to become a co-promoter in Mumbai-based steelmaker Uttam Galva is backed by the move to cash in on the robust demand for steel in India
The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimated cost of about $350 million (around Rs 1,680 crore).
ICAI may consider recommending blacklisting of Price Waterhouse, which would bar the global audit firm from carrying out auditing in India. Top Accounting scandals
This has come as a surprise to interested bidders as blocks containing oil and gas and coal bed methane are offered for simultaneous bidding by the government through the ministry of petroleum and natural gas.
Critics say he has only increased allocations to existing schemes and bemoan a continuing lack of clarity on infrastructure financing, which could hurt the profitability of companies executing projects.
Hindalco Industries is close to acquiring a coal mine in Queensland, Australia, in a deal estimated at $70-$80 million (about Rs 336-385 crore).
The growing complexities in companies’ balance sheets due to the global economic crisis and foreign exchange volatility have triggered a debate over one of the basic premises of financial accounting - every company is a ‘going concern’ that will not go out of business or liquidate in the foreseeable future.
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