STEEL

  • Jindal Steel shelves $10 billion project after coal setback 2 days ago

    New Delhi: Jindal Steel and Power Ltd has shelved a $10 billion coal-to-diesel project, its chairman said, becoming the first big casualty of a Supreme Court decision to scrap coalfields allocated to private firms since 1993. Jindal Steel's 1.5 billion tonne coalfield in Odisha was among 214 cancelled by the Supreme...
  • Steel has done a lot for me, says Lord Swraj Paul 1 week ago

    Speaking to CNN-IBN, British-Indian businessman Lord Swraj Paul shares his business life experience amidst growing competition. He also talks about Indo-Britain relationship and the Modi government. ...
  • Sensex ends 68 points down; HPCL, BPCL slip 4-6 per cent on excise hike November 13, 2014

    Mumbai: The market has ended lower. The Sensex was down 68.26 points or at 27940.64 and the Nifty slipped 25.45 points at 8357.85. About 1334 shares advanced, 1716 shares declined and 105 shares were unchanged. Tata Power, Sesa Sterlite, ONGC, GAIL and Hero Moto were major laggards. On the gaining...
  • PM Narendra Modi's 'Make in India' push to depend on Chinese steel November 10, 2014

    New Delhi: India's steel consumption is expected to grow at its fastest pace in five years next year on Prime Minister Narendra Modi's infrastructure push, but a scarcity of raw materials means it will be at the expense of another key goal - curbing imports. In his triumphant election campaign, Modi...
  • India has potential to become 2nd largest steel consumer: Deutsche Bank November 2, 2014

    Mumbai: India's steel demand is expected to rise by 4-5 per cent this year and will touch 15 per cent CAGR after FY17 as the country has the potential to emerge as the second largest steel consuming market after China during FY15-20, Deutsche Bank said in its research report. With...
  • Coalgate: CBI registers case against Jindal Steel & Power October 19, 2014

    New Delhi: A case of alleged cheating and corruption has been registered by CBI against Jindal Steel and Power company relating to the probe into coal blocks allocated during 1993-2005 period. CBI spokesperson said on Sunday that it is the 36th FIR in connection with its probe in the coal...
  • India delays decision on iron ore licence for POSCO's $12 billion plant October 18, 2014

    Bhubaneshwar: The government has again delayed a decision on permitting POSCO to mine iron ore, seeking more clarifications from Odisha where the South Korean company has waited nine years to set up a $12 billion steel plant. Former Prime Minister Manmohan Singh said in January that POSCO's request for a mining...
  • Cyclone Hudhud: Visakhapatnam Steel Plant damaged, non-operational for 6 months October 16, 2014

    Cyclone Hudhud which battered Visakhapatnam on Sunday has left behind a trail of destruction. One of the country's biggest steel plants, the Visakhapatnam Steel Plant has seen extensive damage and will not be operational for 6 months. ...
  • Tata in talks to sell UK steel plants to Swiss group Klesch October 16, 2014

    Rome: Tata Steel Ltd is in talks to sell loss-making European operations including mills in northern England and Scotland to Geneva-based Klesch Group, as it battles weak prices and tentative economic recovery. Tata, Europe's second-largest steel producer, said in a statement it had agreed to negotiate with Klesch over its Long...
  • Tata in talks to sell UK steel plants to Swiss group Klesch October 15, 2014

    Mumbai: Tata Steel Ltd is in talks to sell loss-making European operations including mills in northern England and Scotland to Geneva-based Klesch Group, as it battles weak prices and tentative economic recovery. Tata, Europe's second-largest steel producer, said in a statement it had agreed to negotiate with Klesch over its Long...
  • Indian steel manufacturing firms eye Chinese technology October 9, 2014

    Beijing: Top Indian steel manufacturing firms are eyeing Chinese technology and low-cost equipment as India's steel capacity is expected to soar in the next 15 years, driven by growth in infrastructure construction in the the country. "We will need Chinese equipment and technology suppliers for our steel industry's growth, since...
  • India Inc to observe October 10 as 'Compliance' Day October 5, 2014

    Mumbai: India Inc will observe October 10 as the 'compliance day for laws', being organised as a part of the week-long series of deliberations and workshops around the across the country starting from Monday. Scoring anything short on 10 on 10 on compliance would render individual and organisations vulnerable on...
  • SC order on coal block allocations: Banks to ask RBI for recasting loans September 29, 2014

    Mumbai: Acknowledging that the Supreme Court order on mass cancellation of coal block licences may impact banks' asset quality, a top Finance Ministry official on Monday said that the lenders will approach RBI for restructuring such assets. "Some impact may be there, and what exactly it will be is being...
  • Sensex, Nifty flat; Reliance & Infosys up, HUL falls September 29, 2014

    Mumbai: Sensex on Monday fell 29 points to end at 26,597.11 while Nifty sliped 10 points to close at 7,958.90. Earlier the market has opened on a flat note. The Sensex is up 8.81 points at 26635.13 and the Nifty is up 9.60 points at 7978.45. About 474 shares have advanced,...
  • West Bengal: Explosion in IISCO Steel Plant, 25 injured September 25, 2014

    Kolkata: At least 25 workers were seriously injured on Thursday in a gas pipeline explosion at the IISCO Steel Plant (ISP) in West Bengal, police said. The incident took place in Burnpur in Burdwan district, about 210 km from state capital Kolkata. "At least 25 people have been hospitalised with serious injuries...
  • SC scraps coal allocations, firms likely to pay Rs 7,905 cr in penalty September 24, 2014

    New Delhi: Jindal Steel and Power Ltd, Hindalco and other companies whose coal mine allocations were scrapped by the Supreme Court on Wednesday are likely to pay about Rs 7,905 crore in penalty. The Supreme Court while cancelling 214 of 218 coal mine permits given to companies for their own...
  • Odisha: Tata Steel drive to combat dengue September 15, 2014

    Bhubaneswar: Amid dengue scare in several parts of Odisha, Tata Steel is proactive in its coordination with government agencies to ensure hygienic and safe conditions for the dwellers in Jajpur district. "We are ensuring the best possible hygienic conditions at our site of operations at Kalinganagar which is spread over 1,700...
  • Raghuram Rajan bats for more freedom to staterun banks September 15, 2014

    Mumbai: Batting for greater autonomy to staterun lenders, RBI Governor Raghuram Rajan on Monday said that the government should look at them as truly "independent entities" that take their own commercial decisions and not as an extended arm of the administration. He also said that while it was fine for the...
  • Tata Steel ferro chrome plant to start by March 2015 September 13, 2014

    Mumbai: Tata Steel is setting up a 55,000 tonne per annum (TPA) ferro chrome plant at Gopalpur in Ganjam district of Odisha and its first unit is expected to start operations by March 2015. "With Gopalpur project being a top priority for the company, we are currently setting up a 55,000...
  • Coal scam: Court dismisses AMR Iron and Steel Pvt Ltd's plea September 9, 2014

    New Delhi: A special court has dismissed a plea of Nagpurbased AMR Iron and Steel Pvt Ltd, which along with Rajya Sabha MP Vijay Darda and others is chargesheeted in a coal blocks allocation scam case, seeking copy of statement of accused recorded by the CBI during its probe. ...
  • Coal scam: Court seeks clarification from CBI on closure report September 9, 2014

    New Delhi: Posing searching questions to CBI on its closure report, a special court on Tuesday asked the agency to clarify as to what evidence "it could not collect" during probe to substantiate its findings recorded in FIR in a coal blocks allocation case against Kamal Sponge Steel and Power...
  • Steel Ministry asks Finance Ministry to roll back duty of coking coal imports September 9, 2014

    New Delhi: The Steel and Mines Ministry has sought rollback of 2.5 per cent duty on coking coal imports, imposed in the last Budget, to unburden domestic steel makers. Finance Minister Arun Jaitley in Budget 201415 had imposed 2.5 per cent duty on coking coal imports, which the steel industry...
  • Syndicate Bank bribery case: Accused sent to JC till September 11 August 29, 2014

    New Delhi: A court on Friday extended till September 11 the judicial custody of 11 accused, including Syndicate Bank Chief Managing Director (CMD) Sudhir Kumar Jain and Bhushan Steel Ltd Vice Chairman and Managing Director Neeraj Singal arrested in connection with two separate graft cases. "It is stated by the IO...
  • Rare copy of 1st Superman comic book fetches USD 3.2 million August 26, 2014

    New York: A rare copy of Action Comics #1 that introduced Earth to Superman has become the world's most expensive comic book, selling for a whopping US $3.2 million. The 1938 book in which the superhero first appeared initially cost 10 cents. When Darren Adams decided to put his incredibly rare,...
  • Tata Steel sees pickup in European steel demand August 14, 2014

    Mumbai: Tata Steel Ltd looked to reviving European demand and infrastructure investment by the Indian government to boost sales in coming quarters after posting higher sales but a drop in net profit for AprilJune on Wednesday. Net sales rose 11 percent to 361.43 billion rupees in the quarter to endJune, helped...
  • TATA Steel official killed after slipping into red hot molten iron bucket August 8, 2014

    An employee of Tata Steel was killed when he fell down to a red hot molten iron bucket in the factory in Jamshedpur on Friday. The incident took place when the victim was on night shift duty in LD2 department in the wee hours, Senior Superintendent of Police Amol V Homkar...
  • 1989 Jamshedpur fire case: TISCO exchairman Irani can't be made an accused, says SC August 8, 2014

    New Delhi: In a relief for former TISCO chairman JJ Irani, the Supreme Court has observed that he cannot be made an accused in the 1989 Jamshedpur steel plant fire case. Sixty people had been killed and many others had been injured in the ghastly fire that took place on...
  • News 360: Ratan Tata clarifies his remarks on lack of industrial development in West Bengal August 7, 2014

    Tata Sons Chairman Emeritus Ratan Tata on Thursday clarified his remarks on the lack of industrial development in West Bengal and said that he never spoke of it in stateonly view while reacting to West Bengal Industries Minister Amit Mitra's statement criticising him. ...
  • CPL: Trinidad and Tobago Red Steel beat Zouks by eightwickets August 3, 2014

    Opener Evin Lewis's third straight halfcentury inspired Trinidad and Tobago Red Steel to an emphatic eightwicket win here, lifting them to the top of the Caribbean Premier League (CPL) standings and eliminating the winless St. Lucia Zouks from playoff contention. The attacking lefthander was at his imperious best Saturday night, slamming...
  • Explosive materials found in scrap containers at Jaipur's Kanakpura railway station July 20, 2014

    Explosive materials used for military purposes have been found in few containers of scrap at Kanakpura station in Jaipur, police said. "The containers came from Angola in southern Africa through a Singaporebased company Sunagro International and were found during a check at the station from July 1 to July 15," Investigating...