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Worried over clogging of roads and spiralling cost of surface and rail transport of raw materials, steel industries in Odisha are now looking at hauling iron ore from mine heads to their plant sites in slurry form through pipelines.
Sajjan Jindal-led JSW Steel is keen to have a long-term iron ore linkage arrangement with Odisha government-owned Odisha Mining Corporation (OMC), in order to secure supplies for its planned 10-million-tonne mega steel plant. The company has committed an investment of Rs 50,000 crore on the steel mill and an additional Rs 3,500 crore on associated infrastructure such as coal and iron ore berths and a slurry pipeline.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today -- ICICI Bank, V-Mart Retail, Future Retail, JSW Steel, JSPL, Tata Steel, Sail, Bhushan Steel, Visa Steel and Uttam Galva.
The great Indian debt saga has had many victims, more of them lenders than borrowers. So far we have seen very few changes in control of companies – barring Essar Oil’s deal with Rosneft and Jaiprakash Associates sale of cement assets to Ultratech.
As its greenfield unit at Kalingangar ramps up operations to reach its rated capacity of three million tonnes, Tata Steel is looking at multiple options to secure uninterrupted iron ore supplies.
The Centre has so far handled the debt-ridden steel companies with soft gloves and expectations are that it would continue further in the Budget to make them more sustainable without government support.
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Corporate credit growth in the Indian economy has gone down to mid-single digits owing to high percentage of NPAs in Public Sector Banks.
Steel stocks, including Tata Steel Ltd, Jindal Steel & Power Ltd, JSW Steel and Steel Authority of India, rose 4.3-9.5 per cent.