Page 16 - Steel Producers

Karnataka puts on hold decision to sell 3,667 acres to JSW Steel

This comes amid opposition from within the ruling BJP and cases pending in courts

Amid key concerns, metal stocks may see soft trend in medium-term

Cloud over domestic demand, rising global supplies and high valuations are key concerns

Sanjeev Gupta's Liberty Steel to sell UK plant in restructuring plan

Liberty Steel, the company led by British Indian businessman Sanjeev Gupta, on Monday announced very constructive and productive meetings as part of its ongoing restructuring plans, which will result in the sale of its Stocksbridge plant in south-east England to help pay back lender Credit Suisse. Gupta, who heads the wider Gupta Family Group (GFG) Alliance, and his newly-formed Restructuring and Transformation Committee held advanced discussions with Credit Suisse Asset Management (CS) in Dubai over the weekend to reach a formal standstill agreement on its Liberty Primary Metals Australia business while refinancing is completed that will repay Credit Suisse out in full. The investment bank has, meanwhile, agreed to pause court proceedings against Gupta's empire while the sale of Stocksbridge is conducted. Both parties also made significant progress in agreeing a framework to resolve GFG Alliance's remaining exposure with CS, Liberty Steel, the UK's third largest steel maker, ...

Tata Steel bulks up for growth without compromising its deleveraging target

The upturn in the steel cycle has allowed it to reconsider overseas asset sales and plan domestic expansion and acquisitions

JSW Steel's April crude steel output dips 5% as it focuses on oxygen supply

In April, over 20,000 tonnes of LMO were supplied from firm's steel units; company was supplying 185 tonnes a day of LMO mid-April, which has now been raised to 1,200 tonnes

Domestic steel players poised for strong deleveraging plans as prices surge

With profitability at record levels, even if steel prices correct by 15-20% going ahead, players would still be in a comfortable position to deleverage, says an analyst

Jindal Steel prepays Rs 2,462 cr term loans, pares debt beyond commitment

JSPL has recently announced divestment of its thermal power business to reduce its debt further as well as to cut down on its carbon footprint by almost half

Steel stocks steal the show in lacklustre April for equity markets

Returns for the month slipped into marginal negative territory because of the 2 per cent fall on Friday

Tata Steel stock is red hot on stock exchanges amid many triggers

The company's m-cap is up 27% in April so far, and has trebled since Sept 2020

Covid-19: JSW Steel reduces production to ramp up supply of medical oxygen

Saving lives more important than producing steel, says Sajjan Jindal

Covid-19: Steel firms expect no production disruption amid oxygen diversion

Market cap of top four steelmakers up 29% in April so far; demand from China is a strong tailwind

Tata Steel takes Liberty Steel to court in UK over missed payments'

Indian steel major Tata Steel has filed a commercial court claim in the UK against British Indian steel tycoon Sanjeev Gupta led GFG Alliance

Covid-19 second wave: Steel firms get state-wise quota for supply of oxygen

The Indian steel industry has the capacity to supply about 3,000 tonnes a day of medical oxygen

Jindal Steel exits Oman biz via balance 51% stake sale to Vulcan Steel

Jindal Steel owned 48.99% in the Oman unit via Jindal Steel & Power (Mauritius) Ltd. The former had made the deal to exit Oman biz last September

SAIL clocks best quarterly sales at 4.27 MT during Jan-Mar quarter

Steel Authority of India Ltd (SAIL) clocked its best ever quarterly sales at 4.27 million tonnes (MT) during the March quarter of the last fiscal year

Global prices to prop domestic steel despite near-term demand taper: Icra

Contraction in domestic steel consumption has been much lower at 9.9% in 11M FY2021 compared to a 19.6% drop during 8M FY2021 on the back of a sharp pullback in demand during December 2020 and January

From JSW to SAIL, major steel companies' stocks show strong upside

Brokerages bullish on improving cycle and higher prices

Steel rising in the east: JSW, AM/NS India waiting to set foot in Odisha

Two steel majors will be expanding their presence in the iron ore-rich region just as global raw material prices touch new highs

Ind-Ra revises fiscal year 2022 steel sector outlook to stable

The agency revised its outlook on the domestic steel sector from negative to stable for the fiscal year beginning April 1, 2021

Posco's steel plant in India faces disruption, hampers auto supply chain

Supply of steel from Posco's Maharashtra plant has been seriously affected and production for carmakers "is likely to come to a standstill"