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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

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 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

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

8 coal mine allottees may be asked to get green nod by Nov

IMG recently reviewed the progress of 10 coal blocks given to companies, including DB Power Ltd, Essar Power, Tata Steel, Abhijeet Infrastructure, and Jindal Steel and Power. The Mahan coal block allotted to Essar Power and Hindalco Industries and the Durgapur II/Sarya block given to DB Power have already received forest clearance.he Inter-Ministerial Group (IMG) on coal blocks has recommended giving...
Source : Moneycontrol |
Category : Business

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

JSW Steel hikes prices by up to Rs 750/tn; others may follow

JSW Steel has increased prices of its products by up to Rs 750 per tonne, or about 1 per cent, across the board for March, its third hike in three months.Other producers such as SAIL, Essar Steel, Rashtriya Ispat Nigam and Jindal Steel and Power are also expected to hike prices in the coming days due to rise in input costs, increasing international rates of steel and demand uptick in the current quarter,...
Source : Ndtv |
Category : Others

ECoR cancels all local trains in view of Cyclonic storm PHAILIN

East Coast Railway(ECoR) has decided to cancel all local passenger trains between Visakhapatnam and Bhadrak in Howrah-Chennai Main Line and to Paradeep, Puri, Angul, Talcher in branch line tomorrow in view of very severe cyclonic storm hitting the coast. ECoR sources here today said the 58415/58416 Puri-Cuttack-Puri passenger,58402/58405 /78507/78508 Paradeep-Cuttack passenger 58406 Cuttack-Paradeep...
Source : Webindia123 |
Category : Headlines

Companies without green nod to lose coal blocks, 61 get notice

which have not obtained environment and in-principle forest clearances and has issued show-cause notice to allocatees of 61 such mines.Tata Steel, ArcelorMittal, Hindalco, Jindal Steel and Power, JSW Steel, Essar Power, Adani Power, Tata Power, GVK Power and Infrastructure, Ultratech Cement, Reliance Energy, Sterlite Energy and JP Associates are some of the allocateesSome blocks, which are already...
Source : Business Today |
Category : Business | City : New Delhi