STEEL

  • Bill for Steel Institute may be introduced in Parliament this session April 8, 2015

    New Delhi: A bill for setting up an institute of national importance under the Ministry of Steel, on the pattern of IITs, is likely to be introduced in the current session of Parliament when it resumes later this month. "The government has already identified Biju Patnaik National Steel Institute (BPNSI) in...
  • Apple Watch prices from $349 to $17,000 demystified March 10, 2015

    New Delhi: Apple unveiled its most-awaited new product, a smartwatch, at its Spring Forward event on March 9. While many are left scratching their heads if the Apple Watch will make any difference to the slow smartwatch industry where other manufacturers have already tried their hands, others are questioning Apple's...
  • What India Inc wants: Top CEOs expectations from the Union Budget 2015 February 24, 2015

    In a roundtable discussion with CNBC-TV18's Shereen Bhan, consulting firm BMR's chairman Mukesh Butani, Phillips India MD Krishna Kumar, Shriram Capital chairman Arun Duggal and Jindal Steel and Power CMD Ravi Uppal discussed their expectations from finance minister Arun Jaitley's Union Budget that will be presented in Parliament this week....
  • ISSDA wants import duties to be rationalized or scrapped in Budget February 21, 2015

    New Delhi: A week before the Narendra Modi government will present its full fledged Budget on February 28 in Parliament, industries are pinning high hopes from Finance Minister Arun Jaitley. The Indian Stainless Steel Development Association wants import duties need to be rationalized or scrapped. It say taxes and import duty...
  • Coalscam: CBI files charge sheet against Rathi Steel & Power Limited February 20, 2015

    New Delhi: CBI on Friday filed a charge sheet in a special court in a coal scam case pertaining to a Delhi- based company Rathi Steel and Power Limited for allegedly giving false data about its land holdings and capacity to get a coal block in Chhattisgarh. The company was allocated...
  • Antidumping duty imposed on imports of graphite electrodes February 16, 2015

    New Delhi: The government has imposed an anti-dumping duty of up to USD 922.03 per tonne on imports of a product used in steel plants, a step to protect the domestic industry from below-cost shipments. The Finance Ministry imposed the import duty on a type of graphite electrodes based on...
  • Court halts auction of two coal mines previously held by Jindal Steel February 12, 2015

    Mumbai: A court on Wednesday asked the government to halt the auction of two coal mines attached to a Jindal Steel and Power Ltd (JNSP.NS) steel plant, a move that could prompt more companies to go to court and potentially derail plans to auction more than a hundred coal blocks...
  • Jindal Steel posts Q3 loss, hit by coal blocks levy February 4, 2015

    Mumbai: Jindal Steel and Power Ltd (JSPL) (JNSP.NS) reported a net loss in its fiscal third quarter, hurt by a charge related to the levy it paid the government for coal it dug out from mines that were cancelled by a court order in September. The company, which was the worst...
  • December infrastructure output grows at three-month low of 2.4 per cent February 2, 2015

    New Delhi: India's annual infrastructure output growth slowed to a three-month low of 2.4 per cent in December, mainly dragged down by a sharp slowdown in electricity, coal and cement production, government data showed on Monday. The output had expanded 6.7 per cent year-on-year in November. The infrastructure sector, which comprises coal,...
  • Coalgate scam: Court to consider CBI's final report on January 30 January 21, 2015

    New Delhi: A Delhi court on Wednesday fixed January 30 for considering a supplementary report of the CBI regarding the role of public servants who were allegedly involved in allocating coal block to Nagpur-based AMR Iron and Steel Pvt Ltd. "Certain clarifications have been sought qua the supplementary final report....
  • SAIL share sale floor price fixed at Rs 83, may fetch Rs 1700 crore December 4, 2014

    New Delhi: Government's five per cent stake in steel giant SAIL will be sold at a floor price of Rs 83 per share on Friday, which can raise Rs 1,500-1,700 crore for the exchequer in the first disinvestment under the new regime. "Government expects to garner Rs 1,500 crore to Rs...
  • Jindal Steel shelves $10 billion project after coal setback November 24, 2014

    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 November 19, 2014

    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...