From a single-authority mechanism for processing GST refunds to exporters coming soon to NCLT approving JSW Steel's Rs 19,700-cr bid for Bhushan Power & Steel, here are today's top business news
Using Internet of Things, JSW Energy can accurately predict how much power it has to generate and supply to the plant in every 15 minute cycle
Low realisations, higher input costs and imports have added to worries
The demand for steel is on a declining trend as user industries are slowing down. JSW Steel Joint Managing Director and Group Chief Financial Officer Seshagiri Rao tells Ishita Ayan Dutt
Paying a premium for the blocks will mean additional investment for the company in a weak market
See low demand situation at the end of the cycle
JSW is also rolling out JSW Platina, a premium tinplate targeted at the packaging industry
Firm seeks forensic audit reports of banks from RP, Tribunal asks for copy of its plea to RP, after which it would consider JSW request on August 6
The firm highlighted this was the highest ever output by any blast furnace in India
The total admitted debt in the resolution process was around Rs 6,500 crore
Last month, the company's output of flat rolled products rose 6 per cent to 1.02 MT from 956,000 tonne in the same month last year, JSW Steel said in a statement
The MD maintained that he would not get into the argument with those questioning the sale of land, previously allotted to it on lease
Company board passes a resolution to raise up to Rs 14,000 crore as long-term resources
Lending, particularly by the NBFCs, has slowed down dramatically. Auto and housing loans are majorly driven by the NBFCs in addition to banks and that tap is closed
The company, which is rated one notch below the investment grade, managed a coupon of 5.95 per cent
The five-year dollar money sale saw high demand from investors across Europe and Asia, and had attracted bids worth $ 1.75 billion
Funds will be raised in one or more tranches, in the international market either by JSW Steel or by any of its overseas subsidiaries backed by a corporate guarantee of the company
The subdued iron ore prices would also benefit Tata Steel as Bhushan Steel (a company Tata Steel took over in insolvency resolution) sources ore from Odisha, a report by Edelweiss Research said
Company teams starts reviewing work at BPSL's Odisha plant, aims to bump up production.
For Duferco International Trading Holding the transaction assures a captive supply of various steel products from JSW over the term of the advance payment and supply agreement