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Vedanta has bid Rs.53.2 billion for Electrosteel Steels, one of 12 cases on the Reserve Bank of India’s list of defaulting companies. Tata Steel, which is 2nd highest bidder for Electrosteel, has offered Rs 20 billion less. Figures were disclosed during a hearing before the Kolkata bench of the National Company Law Tribunal (NCLT). Total […]

India has asked the United States to exempt it from higher tariffs on steel an aluminium, saying Indian exports of the two products did not pose a security threat to America, 3 government officials said. Last week, USA President Donald Trump suspended tariffs for Argentina, Australia, Brazil, South Korea, Canada, Mexico and the European Union, […]

Tata Steel is planning to pump around Rs 15 billion for development of infrastructure at Gopalpur Special Economic Zone and industrial park in Odisha. Investment will be made in a phased manner. SEZ and park is spread over 2,600 acre of land parcel, of which 1,235 acre is dedicated for SEZ. In the initial phase, […]

Arcelor-Mittal has confirmed plans to participate in the fresh round of bidding for Essar Steel, confident that it would be an eligible contender regardless of the verdict on its initial offer. “We have not received any formal notification from the resolution professional, but we can confirm it is our intention to participate in a rebid,” […]

JSW Living Pvt Ltd is a joint venture between JSW and Piramal Enterprises. Bhushan Steel shares soared close to 20 per cent to hit upper circuit limit of Rs 53.85 on BSE. Trading volume spurted more than 1.37 times on BSE with over 27 lakh shares changing hands, exchange data showed. The stock surged 19.91 […]

Tata Steel Managing Director and CEO TV Narendran today inaugurated a Rs 57 crore primary crushing plant at West Bokaro in Jharkhand. The new facility will help Tata Steel meet the requirement of coal for its steel works at Jamshedpur and Kalinganagar, the company said in a statement. The primary crushing plant (PCP3) has been […]

Mittal expressed optimism about the Indian steel industry and said it has submitted a detailed plan that would address many of Essar’s operational issues that had dragged the firm into bankruptcy. “Offer submitted today by AMIPL includes a detailed investment plan to address operational issues in Essar’s existing asset base,” Mittal said in a statement. […]

Tata Steel will finance the repair of a blast furnace at Britain’s largest steelworks in Port Talbot, Wales, extending its life by seven years and soothing concerns about its commitment to Europe’s steel sector, four sources told Reuters. Tata Steel signed a preliminary deal last year to merge its European steel assets with those of […]