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Essar Steel-Inox deal gets CCI green signal

per the deal, Ruias-promoted Essar Steel will transfer its gas plant located at Hazira, Gujarat to Inox on a slump sale basis.air trade regulator CCI has cleared Essar Steel's proposed sale of a gas plant in Gujarat to Inox Air Products, saying the deal does not raise adverse competition concerns in the country. As per the deal, Ruias-promoted Essar Steel will transfer its gas plant located at Hazira,...
Source : Moneycontrol |
Category : Business

Will ask for reassessment of CARE downgrade: Essar Steel

CARE recently downgraded Essar Steel from BBB- to D, which is a very steep downgrade....
Source : Moneycontrol |
Category : Business

Essar Hypermart goes multi-brand

Essar Hypermart, an organised steel retailer, is planning to stock products of other manufacturers apart from parent Essar Steel to meet customer demand and remain competitive.“We are in a transition phase, moving from a model which is only Essar product to multi-brand. We have not been (present) in let’s say TMT bars and pipes, so we can get it converted and made for us and sell,” the retailer’s CEO...
Source : DNA |
Category : Others | City : Mumbai

Ruias to infuse Rs 1,000 cr equity into Essar Steel

Promoters of Essar Steel will infuse an additional equity of up to Rs 1,000 crore into theThe Ruia family, led by Shashi and Ravi Ruia, are the promoters of the company through Essar Steel Asia Holdings Ltd, Mauritius.as well as strengthening the capital base," Essar said in its Annual General Meeting notice while seeking shareholders approval.The capital infusion by the promoters will also help the...
Source : Business Today |
Category : Business | City : New Delhi

Essar Steel plans to raise $2 billion by June to pare rupee debt

Essar Steel, part of the diversified Essar Group, hopes to raise $2 billion from overseas by the end of first quarter of the current financial year, to retire its rupee debt, a top company official said."We hope to complete the raising of $2 billion loan from overseas market by June, which will help us in dollarising our balance sheet with reduction in interest rate," Essar Steel director-finance and...
Source : Ndtv |
Category : Others | City : Mumbai

Essar Steel Bags Order to Supply 1.2 Lakh Tonne of Steel Pipes

Essar Steel today said it has bagged an order to supply 1.2 lakh tonnes of steel pipes to Saurashtra Narmada Avtaran Irrigation project of the Gujarat government."Of the 5.86 lakh tonne of pipes required for the project, Essar Steel will supply 1.2 lakh tonnes of Helical Submerged Arc Welding (HSAW) pipes, which are 12-metre long and 120 inches in diameter."The order will be executed over a period...
Source : Ndtv |
Category : Others | City : Mumbai

Essar Steel to supply pipes for Gujarat project

Essar Steel bags an order to supply 1.2 lakh tonnes of steel pipes to Gujarat government's SAUNI projectEssar Steel bags an order to supply 1.2 lakh tonnes of steel pipes to Gujarat government's SAUNI projectEssar Steel on Monday announced that it has bagged an order for the supply of pipes for one of the most prestigious projects of the Gujarat government, for water management of the Saurashtra Narmada...
Source : Indiainfoline |
Category : Business

JSW Steel to hike prices by up to Rs 1,000 per tonne

: After a lull of nearly three months, steel prices are on likely to see upward movement in the new year as leading domestic producer JSW Steel has decided to increase the rates by up to Rs. 1,000 per tonne (or up to 2 per cent) across the board for January.Other leading producers including SAIL, Essar Steel, Tata Steel, Rashtriya Ispat Nigam and Jindal Steel and Power are also expected to hike their...
Source : Ndtv |
Category : Others | City : New Delhi

Essar Steel plans to raise $2 bn by June

Essar Steel is planning to raise US$2 bn from overseas by the end of first quarter of the current financial year, to retire the rupee debt,according to reports.Report said that the conversion of rupee loans into dollar will also increase the tenor of repayment to an average of around 10 years, Director-Finance and Chief Financial Officer of Essar Steel, Mahadev Iyer, said.In June last year, the firm...
Source : Indiainfoline |
Category : Business | City : Mumbai

Essar Steel-Inox deal gets CCI green signal

Fair trade regulator CCI has cleared Essar Steel's proposed sale of a gas plant in Gujarat to Inox Air Products, saying the deal does not raise adverse competition concerns in the country.As per the deal, Ruias-promoted Essar Steel will transfer its gas plant located at Hazira, Gujarat to Inox on a slump sale basis.In an order dated January 30, the Competition Commission of India (CCI) said that "the...
Source : Ndtv |
Category : Others | City : New Delhi
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