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Domestic steel prices inching up on rising cost, pick-up in demand

Currency depreciation of over 6% may have supported uptrend; industry players confident that prices have bottomed out

French mineral firm Imerys plans to ramp up Vizag plant production

Will increase calcium aluminates capacity by 2030 to about 50,000 tonnes from 30,000 tonnes currently in line with India's target of achieving a 300 million tonne crude steel capacity

AM/NS India eyes $250-300 mn gain from purchase of Essar group infra assets

The port and power assets are primarily captive to AM/NS' Hazira steel plant in Gujarat, will expand firm's footprint and operating efficiencies

AM/NS India receives environmental clearance for Hazira plant expansion

This increased steel manufacturing capacity represents a significant boost for the government's National Steel Policy, which envisages doubling domestic capacity to 300 MTPA by 2030

Endgame at McLeod Russel amid risk of losing control of last major asset

With two rival bids, the once powerful group that owns the world's largest tea producer is in danger of losing control of its last major asset

Lenders for Srei group companies accept EoI by AM Mining India

Sources indicated that issuing a fresh RFRP meant that the process was being opened to EoI participants

Amid takeover offer, McLeod Russel pins hopes on debt recast plan

CMD Khaitan says banks have been very supportive and have come to a conclusion on what debt restructuring resolution should be

ArcelorMittal Nippon Steel India joins race to buy Srei group firms

Sources close to the development said whether new participants who were not part of the original list of EOI would be allowed will have to be evaluated

Invest in India story, MSME sector must be promoted: Goyal to industry

Goyal's comments come after Union Finance Minister, Nirmala Sitharaman, recently asked India Inc what is stopping them from investing

Birla Corp to invest $1 bn over eight yrs, raise capacity to 30 mn tonnes

Current consolidated capacity is about 20 mn tonnes; mix of greenfield and brownfield projects, de-bottlenecking existing operations to help add another 10 mn tonnes

M K Shah offers to buy McLeod Russel's tea estates without hostile bid

Offer for company under debt resolution doesn't seek to exclude its promoters, the Khaitan family: Source

Followed due process to get fair valuation for amalgamation: Tata Steel CFO

In a Q&A, Koushik Chatterjee, says the decision to merge seven group firms is a priority for Tata Steel and the entities involved. He adds that rupee depreciation will influence steel prices

Tata Steel to absorb 7 group companies, simplify holding structure

'Move would also drive synergies' and increase value for shareholders, says company

M K Shah Exports approaches McLeod Russel India lenders with counter offer

Carbon Resources has offered an upfront payment of Rs 1,245 crore of an estimated outstanding bank debt of Rs 1,650 crore

Why a non-tea player like Carbon Resources is eyeing McLeod Russel

With a crop of 44 mkg across 31 estates in Assam and two in Dooars, McLeod is a Goliath in the world of tea. It has estates in Africa and Vietnam and its total output worldwide is 73 mkg

McLeod Russel India lenders likely to discuss Carbon Resources proposal

The contours of the proposal are like this: of an outstanding bank debt of Rs 1,650 crore, the upfront payment being offered is Rs 1,245 crore

Takeover scare for McLeod Russel as Carbon Resources picks up over 5% stake

The would-be acquirer makes non-binding offer to banks to settle the bulk tea producer's dues

Peerless group poised for growth, targets Rs 1,000 crore turnover

PGFI's revenues for the year ended March 31, 2022, had stood at around Rs 498 crore while profit for the year was at 102.76 crore. But pre-Covid, turnover was in the region of Rs 535 crore

A shimmer of hope for the golden fibre as demand for shopping bags rises

A robust export market for shopping bags has emerged, but whether it can help the ailing industry reduce its dependence on heavily regulated government purchases is an open question

Speciality Restaurants to expand; plans 20-30 cloud kitchens, 6 restaurants

At present, there are about 13 independent cloud kitchens, but the numbers are set to increase