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For the coming three years, SAIL & RINL must complete their incomplete projects and start getting return on their investment for fresh fund from Centre.
New Delhi : The Rs 5,000-crore autograde steel plant in joint venture between SAIL and ArcelorMittal would be set up close to an automobile hub and final decision on the site is likely in three months, a top official on Thursday said. “It (SAIL, ArcelorMittal JV) is in the final stage now. Absolutely in the final stage,” Steel Secretary Aruna Sharma told PTI in an interview. Steel Authority of India (SAIL) and ArcelorMittal had in May, 2015 entered into a memorandum of understanding (MoU) to explore the possibility of setting up an autograde steel manufacturing facility under a joint venture in India.
The government has set up a committee to suggest measures to fast-track the ramping up of modernisation of the steel sector public sector firms SAIL and RINL. A high-level meeting called by the Union Minister for Steel, Chaudhary Birender Singh, with senior officials in New Delhi took the decision on Wednesday. M.K. Raghavan, Kozhikode MP, had taken up the issue with the Centre.
New Delhi : State-owned Coal India raised the prices of coking coal in January without any discussion with its key customer SAIL as the steel major did not turn up for deliberations despite repeated pleas by the miner, a top official said on Monday.
Steel Authority of India (SAIL) was downgraded by CARE Ratings on Wednesday, with the rating lowered by a notch to AA+ for long-term debt worth more than Rs 15,000 crore, reports fe Bureau in Mumbai. The agency cited a subdued financial performance in the first nine months of fiscal 2015-16 that led to moderation in key credit metrics.
Mumbai: Ratings agency CARE Ratings on Wednesday downgraded the credit rating for Steel Authority of India Ltd (SAIL) from AAA to AA+ due to subdued financial performance.
Shares of miners NMDC and Steel Authority of India surged upto 11 per cent on Tuesday on robust metals trade data from China and soaring iron ore prices.
New rail lines, wagon addition, dedicated freight corridors to spur growth
To a query on demand and supply of steel, Sai said with a crude steel production capacity of about 101 MT (million tonnes) in 2013-14, India produced about 87.67 MT of finished steel with an apparent consumption of about 74.09 MT...
The Ministry has also warned the PSU of terminating the allotment agreement if the steel firm fails to give an explanation for the delay in submission of completion notice...
Calls for moratorium on payment of interest and principal amount
The Indian Steel Association has sought a special financial package from the governmen
MUMBAI/NEW DELHI Some steelmakers have raised their prices after a recent government measure to rein in cheap imports, but a surge in value is unlikely as the country's production capacity is rising faster than its domestic demand growth.
Prices may be hiked further but only marginally, say industry leaders
Industry officials see only marginal price hikes going ahead as increased domestic production may not leave room for large upward price revision
Steel Authority of India says domestic market continues to suffer from rising imports, particularly from China, Japan and Korea
Steel Authority of India and the country’s largest aluminium manufacturer Hindalco bore the brunt of depressed prices in the international market, with the former posting its third consecutive quarterly loss during the October-December quarter and the latter seeing its net profit decline by a massive 88.74%, reports fe Bureau in New Delhi.
Last time it had gone negative in third quarter was in 2003-04
Total income of Steel Authority of India Ltd (SAIL) dropped by 19.52% to Rs 8,939.12 crore during the quarter
Cheaper imports and weak demand resulting in a sharp fall in steel prices in the domes
Steel sector benefits from being part of the IIP, says aluminium association
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have - Tata Steel, Steel Authority of India (SAIL), JSW Steel, Arvind, Kitex Garments, CESC, Onmobile Global, Reliance Infra, MT Educare & Mphasis. ..
Vishal Malkan of malkansview.com is of the view that one may buy Steel Authority of India with a target of Rs 47...
Original post By Sohrab Darabshaw So what country will be the one bright spot in the global steel market this year? It's no secret that for the last four years
The Nifty Midcap 100 index gained 6.21 per cent till December 30 this year. The index jumped from 13,365.60 on December 31 last year to 12,583.85 on December 30 this year.
3h - Asif
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