Reuters reported that a government source said that India is planning to impose “safeguards” on steel imports if the volumes coming into the country increase beyond a certain level. The source did not specify the measures that would make up the safeguards but said steps were under discussion.
Economic Times reported that JSW Group has adopted a twin strategy of adding scale and creating a brand image among consumers.
Even as the government has stood firm on resisting a call for easing the exclusion norms under the insolvency resolution process to retain its integrity
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the meeting of committee of creditors (CoC) of Bhushan Power and Steel to vote on bids for the debt-ridden firm.
L&T Hydrocarbon Engineering has bagged an onshore EPC contract from HPCL-Mittal Energy for setting up cracker furnaces at their Bathinda Refinery in Punjab.
Mint reported that the National Company Law Appellate Tribunal (NCLAT) on Monday hinted at giving a chance to both Numetal Ltd and ArcelorMittal India Ltd, the resolution applicants who submitted bids for Essar Steel Ltd, to cure ineligibilities after which revised bids may be invited from the companies.
Business Line reported tat JSW Steel has restarted coking coal mining in the US after a gap of almost three years. Operations in the mines located in West Virginia were suspended after coking coal prices dropped below production cost.
Business Line reported that JSW Steel has announced plans to invest INR 40,000 crore in the next three years, even as lending rates continue to rise globally.
The operating companies of Tata Group have to be run as per the wishes of majority shareholders, Tata Trusts, which has more than two-thirds stake of the holding company Tata Sons, the recent NCLT ruling said.
Tata Steel has been in the midst consolidating its businesses across continents. T V Narendran, global CEO and managing director of the steel major, tells Praveena Sharma that after clinching the bankrupt Bhushan Steel acquisition under the Insolvency and Bankruptcy Code (IBC) and inking a pact with ThyssenKrupp in Europe