“The performance during November 2020 is reflective of the continuous efforts being put in by the SAIL Collective to bounce back to pre-Covid levels coupled with the improvement in market conditions,” said the company’s chairman Anil Kumar Chaudhary on Friday.
“We have received a fresh offer in which JSW Steel has agreed to make an upfront payment for Bhushan Power & Steel; also the offer has been hiked by ₹400 crore," said a lender involved in the negotiations.
As per industry sources, JSW Steel and JSPL have hiked prices by Rs 2,500 - Rs 2,700 per tonne and ArcelorMittal Nippon Steel (AMNS) have raised prices by around Rs 2,500 - Rs 2,750 per tonne effective from 1st of December.
The steel ministry had also made operational a portal wherein plant-wise information regarding availability of oxygen and daily supply by various plants and states to which such supplies have been made is provided. "Integrated steel plants (ISPs) in the public and private sector have been supplying LMO to meet the requirement of oxygen in hospitals across the country.
The Odisha government and POSCO had signed a Memorandum of Understanding (MoU) in this regard in 2005. However, the South Korean steel giant had to abandon its proposed Rs 52,000-crore project due to multiple reasons from delay in environmental clearances to protests by locals.
India has walked out of the regional trade alliance. Many in India have criticised India’s decision as the country could lose out the trade block in some areas such as bargaining power to maintaining high exports.
JSW, defended the challenge on maintainability of the petition by stating that the constitutional vires of the Act was being challenged in the instant case, which did not require the issuance of any particular notice, the company said
“JSW Steel Limited (“Company”) has entered into a legally binding share purchase agreement to acquire JSW Vallabh Tinplate Private Limited in one or more tranches, 1,32,37,227 equity shares of INR 10/- each,” the company said in a BSE Filing on Tuesday.
Top steelmakers in Europe have raised prices of carbon steel – something that would have a material impact on their performances. So much so that Tata Steel Europe may post positive earnings in Q3 and Q4, say analysts.
JSW Steel, Tata Steel and Jindal Steel and Power Ltd have introduced exclusive pricing schemes for MSMEs, while ArcelorMittal Nippon Steel (AMNS) said that they always supply steel at export-parity prices for MSMEs.