JSW Steel had emerged the highest bidder for the company in June last year with an offer of Rs 1,550 crore
The company has also agreed to acquire Bhushan Power and Steel for Rs 19,700 crore and has kept the funds ready for the acquisition
They have also been hiking prices almost every month, the latest being in October by Rs 1,500-2,000 a tonne, depending on the product category
Support for the Nifty is shifted up to 11,400, which should be kept as a stop loss in long positions. The upside target for Nifty is seen at 11,800 odd levels
Since JSW was named the highest bidder last year, it has been a long wait for Jindal due to a spate of investigations by ED and multiple adjournments in final hearing at the Supreme Court
The cast and forged rolls maker was admitted to NCLT last December after an operational creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code
JSW Steel on Wednesday reported a 5 per cent growth in its crude steel production at 1.3 million for August 2020
Nickel prices at LME rose to a nine-month high on demand from China.
Demands domestic steel price monitoring, regulation mechanism
The entire banking space seems to have revived and is seeing a catch-up move to the broader market
Firm says the hub will be the largest of its kind in Asia, with a current stocking capacity across both products of about 2 mn tonnes a year
The company said it will announce Agarwal's successor in due course
Supported by strong domestic demand in China, healthy exports, and rebound in domestic demand, global brokerage Morgan Stanley believes the steel industry's profitability cycle is turning faster
JSW Steel, the flagship business of 12 billion dollar JSW Group, on Tuesday reported crude steel production of 1.2 million tonnes in July, up 9% from 1.1 million tonnes in the previous month
JSW Steel outlined plans two years ago to invest $1 billion in the US to expand its global footprint
Improving realisations and cheaper raw material should help profitability, though domestic demand is yet to reach pre-Covid levels
SAIL gained 8 per cent to Rs 37.3 after the company on Tuesday informed it attained a sales volume of 15.83 lakh tonnes in July.
Interups offers Rs 2,000 crore in NCLT against JSW's Rs 1,550-cr bid
In April, there was a shutdown for 20 days. So, the results are actually for two months of operations.In May and June, we were profitable at the total-cost level
The firm's total expenses also dropped to Rs 12,504 crore, against Rs 18,164 crore a year ago