Tata Steel Nippon Steel Corp JV
JV Info Tata Steel
Tata Steel’s board on Thursday approved a framework for a Joint Venture between Tata Steel Limited (TSL) and Nippon Steel
Corporation (NSC) for the production and sales of automotive cold-rolled flat products at Jamshedpur, Jharkhand, a company statement said in Mumbai.
TSL will hold 51 per cent [...]
Triveni Glass sells Meerut Plant
Triveni Glass Ltd has informed that the Board of Directors of the Company at its meeting held on January 13, 2010, has transacted the following:
- The Company’s facilities at Meerut located at 76, Fitkari Village, Mawana Road, Meerut (UP), India (Both tangible & intangible assets) can be sold to M/s. Nipro [...]
Bajaj Hindusthan shareholers have a reason to cheer.Sugar sector stocks will see good action soon.
Company is back in BLACK.
Bajaj Hindusthan made a profit of Rs 85.20 crore for the first quarter ended December
31, 2009, while it had a loss of Rs 55.94 crore during the same period in previous fiscal.
Total income of the company stood [...]
Rungta Mines ( RML ) Cement Plant in Orissa
Rungta Mines ( RML ) plans to set up a one million tonne cement plant in
Orissa with an investment of around Rs 600 crore, a top company executive said. The move, proposed to be funded through a mix of debt and internal accruals, would diversify the business [...]
News is being speculated about Coal India IPO in media.
Will it see light ? Reports suggest govt offloading 10% stake. IPO Size is estimated to be in the range of Rs. 12-15,000 crores
The government is also planning to offer the company’s shares to people from whom it acquires land for mining. Another proposal to offer [...]
Steel firm Corus cuts 3,500 jobs Corus, a subsidiary of India’s Tata Steel, employs 24,000 people in the UKSteelmaker Corus has confirmed that it is cutting 3,500 jobs worldwide, including about 2,500 in the UK.
Comex says it can’t wait indefinitely to sell 26% stake.
The National Multi-Commodity Exchange (NMCE), India’s third-largest commodity bourse, will set a 30-day deadline for the Bombay Stock Exchange (BSE) to comply with the stake acquisition norms and make payments as per the mutually-agreed guidelines.
The decision to convey the deadline to BSE was taken at NMCE’s [...]
UltraTech Cement Limited, an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 30th June, 2008.
Financials
For the quarter ended 30th June 2008, the Company’s Net Sales increased by 10 % from Rs. 1,360 crores in Q1FY08 to Rs. 1,496 crores. Profit before Interest, Depreciation and Tax at Rs. 472 crores [...]
Coal prices that soared in 2008 could rise higher and stay at elevated levels due to ongoing structural shortages that could go on for a number of years. Developments on both demand and supply side are seen impacting the market.
The major price driver is, of course, growing demand from China and India coupled with delays [...]
Aditya Birla Group, which produces 31 million tons of cement a year, expects that huge capacity addition coupled with slower economic growth could lead to a surplus scenario from next year itself.
New capacity may coincide with slower economic growth and lead to a surplus scenario from 2009 with consequent impact on margins,” UltraTech’s Chairman Kumar [...]
The country’s most conservative business group has finally admitted to a slowdown in the economy. Aditya Birla group chairman Kumar Mangalam Birla on Friday painted a bleak outlook for the cement sector when he said that high costs and inflation have affected construction and could pull down growth in the local cement industry, considered to [...]
Hindustan Zinc, country’s largest producer of the metal on Thursday said it has reduced zinc prices by Rs 3,400 a tonne and raised lead prices by Rs 2,800 a tonne.
The company release said zinc would now cost Rs 90,500 per tonne and lead Rs 96,000 per tonne.
Lead is used as raw material in batteries and [...]
Engineering firm McNally Bharat Engineering today said the company has received Rs 246 crore order from Vedanta Alumina for commissioning three plants in Orissa.
The scope of the order include design, detailed engineering, manufacturing and supply of equipment, erection and commissioning of three 35 tonnes per hour each of plant at Jharsuguda in Orissa, the company [...]
Cement-maker to increase capacity to 20 MT with three new units
In a move that could push Lafarge several steps up among the cement-makers in India, the French company is all set to pump in over $1 billion (Rs 4,300 crore) to take its overall capacity close to 20 million tonnes (MT) in the next five [...]
Reliance ADAG is now looking at acquisitions of small and medium cement companies. A Business Standard report today said that the group has already initiated talks with various small and medium sized companies, while it has also hired a merchant banker to shortlist acquisition targets.