Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,352.35-3.15
Stock Analysis, IPO, Mutual Funds, Bonds & More
NCLAT asks investigative agencies to clarify over JSW Steel's immunity in BPSL matter

A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya asked the agencies to file their reply affidavits by January 20 stating whether after insertion of section 32 A in the Insolvency and Bankruptcy Code (IBC) last month, JSW Steel has immunity from the alleged fraud committed by the previous BPSL managemet.

JSW Group firm Forma shuts operations

The company's MD Tarini Jindal Handa -- daughter of steel magnate Sajjan Jindal -- had announced plans of investing around Rs 250 crore over the next five years to become one of the top five readymade furniture brands in India.

NCLAT seeks clarity from govt, agencies on JSW Steel immunity

ED had in October last year attached Bhushan Power and Steel’s Rs 4,025-crore worth of land, buildings, plant and machinery in Odisha in a case related to the alleged diversion of bank funds, stalling the implementation of JSW Steel's Rs 19,700-crore resolution plan.

Budget 2020: ISSDA seeks nil duty on import of key raw materials

ISSDA also urged the government for simultaneous imposition of 12.5% custom duty on stainless steel flat product imports in order to bring it at par with carbon steel. The association has also sought abolition of 7.5% import duty on graphite electrodes, another major raw material for stainless steel manufacturing, an official statement said.

SPS Steels Rolling Mills looks at a profit before tax of Rs 25 crore in 2019-20

The company had posted losses to the tune of Rs 5 crore in the financial year 2018-19. The turnover of SPS, is also tipped to nearly double to around Rs 900 crore in the financial year 2019-20 from Rs 480 crore after its takeover by the Shakambhari Group.

Budget 2020: Infra push, relief for auto sector can boost demand for steel, says industry

A road map to revive auto sector and govt's infra push may act as antidotes to the steel sector’s woes.

Steel ministry looks at USD 70bn investments in eastern region

Launching the 'Purvodaya' programme here, Pradhan said the underdeveloped districts in West Bengal, Chhattisgarh, northern Andhra Pradesh, Jharkhand and Odisha have to be taken forward for development of the steel sector. Addressing an event organised by CII, Pradhan, minister of petroleum, natural gas and steel, said the region has rich deposits of coal, iron ore and bauxite.

Tata Steel Netherlands Holdings B.V. (TSNHBV) executes agreements for the refinancing of its bank debt

"TSNBHV raised term loan facilities of EUR 1.75 billion from 19 banks. This represents a reduction of EUR 500 million versus the external debt outstanding in Tata Steel Europe as of March 2019," the statement said. This will enable the standalone European business to have a more robust balance sheet.

Dharmendra Pradhan to inaugurate an integrated steel hub

Government estimates suggest capacity addition in the steel hub would entail capital investments of over $70 billion and lead to an incremental Gross State Domestic Product of over $35 billion through steel alone, besides creating over 2.5 million jobs across the steel value chain in the region, an official statement from the steel ministry said.

Tata Steel India's Q3 sales up by 24.4% YoY but remains flat compared to last quarter

While the company’s maintained its sales in the auto segment during the quarter, its branded products & retail segment grew 23% QoQ while industrial products and projects grew 12% QoQ. According to provisional figures released by the company during Q3FY20, Tata Steel India’s production grew by 1.8% over Q3FY19 to 4.46 million tonne but remained flat on a QoQ basis.

Arcelor Mittal’s Essar Steel buy may not severely hit other players

Arcelor Mittal’s Essar Steel buy may not severely hit other players

Arcelor Mittal’s debut in steel industry through acquisition of Essar Steel will raise the competition in the domestic steel sector. Nevertheless there is still headroom for steel companies to increase capacities with consumption demand tipped to grow at 6-7%. Ind-Ra said continued regulatory support is critical to protect local steel players against the threat of imports.

Tata Steel 'can't keep funding losses' at UK's loss-making Port Talbot plant: N Chandrasekaran

Tata Steel 'can't keep funding losses' at UK's loss-making Port Talbot plant: N Chandrasekaran

He emphasised that the Port Talbot steelworks in Wales, one of the largest in Europe, needed to be "self-sustaining" in an interview with the Sunday Times.

Six personnel fall ill after inhaling toxic gas at SAIL's Bhilai Steel Plant

Six personnel fall ill after inhaling toxic gas at SAIL's Bhilai Steel Plant

Six personnel fell ill after inhaling toxic gas at Steel Authority of India’s Bhilai Steel Plant (BSP) early on Friday night.

Dovetail "cost of business" with "ease of doing business": Tata Steel boss to govt

Dovetail "cost of business" with "ease of doing business": Tata Steel boss to govt

"As the government has focused on ease of doing business, it should also focus on 'cost of business' to make industries, particularly the manufacturing sector, more competitive in the prevailing market. "We have been controlling the cost of business inside the work but outside the plant, it is not in our hands but the central and state governments," the Tata Steel CEO said.

Steel sector: Government aims to reduce imports; industry hopes for 'break out year'

Steel sector: Government aims to reduce imports; industry hopes for 'break out year'

After 2019 saw the domestic market grapple with surge in imports, increased dependence on imported coking coal from select countries, the steel ministry will be focusing on managing availability of iron ore as leases of a clutch of mines are scheduled to expire in March next year.

Government begins search for next SAIL chairman

Government begins search for next SAIL chairman

In terms of experience, the applicant should have adequate experience at a senior level of management in an organisation of repute. Applicants with experience in finance, marketing and production will have added advantage.

Load More...
1

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

BACK TO TOP