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Steel industry buoyed by positive data

Steel industry buoyed by positive data

Positive industrial output data for the eurozone rippled through the region's markets yesterday as buoyant industrial stocks and renewed faith in the Greek government's fiscal consolidation programme pulled the benchmark index up for the fourth consecutive session. The Eurofirst 300 finished up 0.7 per cent at 1,026.00 points, buoyed by data [...]

Visa Steel sore over Centre’s PL approval in favour of JSL

Visa Steel sore over Centre’s PL approval in favour of JSL

The tussle between JSL Limited (formerly Jindal Stainless Ltd) and Visa Steel over the Orissa government's recommendation for the grant of prospecting license (PL) for Horomoto iron ore mines in Keonjhar district to JSL has taken an ugly turn. The Union ministry of mines in a report dated June 4 this year has approved the PL in favour of JSL [...]

Power & steel to lift Godawari’s numbers

Power & steel to lift Godawari’s numbers

Godawari Power & Ispat (GPIL) is one of the few small-cap steel companies that have run ahead of the Sensex despite the recent correction in metal stocks. In the past one year, its stock price has appreciated by nearly 60% against a 15% rise in the Sensex during the period. Raipur-based GPIL is an integrated steel manufacturer and has a [...]

Have enabling resolution to raise $500m: Bhushan Steel

Have enabling resolution to raise $500m: Bhushan Steel

A: We have passed the resolution of USD 500 million to raise this kind of fund in the near future. But the time frame has not yet been decided, we are working on that. It may take some more time because the market is not good at the moment and we feel there are lots of triggers, which are likely to come in the company like the iron ore mining and [...]

Naveen agrees to visit Posco steel plant site

Naveen agrees to visit Posco steel plant site

Orissa Chief Minister Naveen Patnaik will visit the three gram panchayats in Jagatsinghpur district, where thousands of villagers oppose displacement and demand the shifting of the site of a proposed Posco steel plant. Mr. Patnaik agreed to the Posco Pratirodh Sangram Samiti's demand that he visit the site when four of its representatives met [...]

Tata Steel and Hindalco look good in metal space: Sandeep Wagle, APTART Technical Advisory Services

Tata Steel and Hindalco look good in metal space: Sandeep Wagle, APTART Technical Advisory Services

What is your view on Tata Steel and Sesa Goa? Tata Steel is making a bottoming out formation. One still needs to have some kind of a confirmation but the bottom it made at 449-450 may hold for sometime, though I would not be in a hurry to buy it. In the metal space, I would go with Tata Steel and Hindalco on every declines once I am convinced [...]

India: Steel remain weak, fall by 410 a MT

India: Steel remain weak, fall by 410 a MT

AHMEDABAD (Commodity Online): Steel long prices fell on prevailing of selling sentiments today on NCDEX. “Technically, range for Steel is from 23500 to 26300 for short run,” said Anil Patadia, Commodity Analyst with Commodity Online. Steel long June contract opened at Rs 23950, higher by Rs 80 this morning and fell to 23460 during [...]

ArcelorMittal Looks to Hasten India Plant

ArcelorMittal Looks to Hasten India Plant

BANGALORE, India—ArcelorMittal could start building a proposed steel plant in south India's Karnataka state ahead of two pending projects elsewhere in the country as it expects to get regulatory approvals and iron-ore-mining leases, Chairman Lakshmi Mittal said Thursday. ArcelorMittal, the world's largest steelmaker, has so far failed to get [...]

A melting feel in Steel: Stock valuations suffer

A melting feel in Steel: Stock valuations suffer

Steel sector in India is seen to be constantly reeling under downward pressure on the price front for over couple of months now which is primarily attributed to the weakness in the international prices and reduced domestic consumption from the infrastructure sector. The weakness in the steel market; unlike gold, which was on a boiling pot with [...]

Indian firm re-bids for Zisco

Indian firm re-bids for Zisco

GLOBAL steel giant Jindal Steel and Power has launched another bid to buy a 60 percent interest in the ailing Zimbabwe Iron and Steel Company (Zisco) after government apparently made a u-turn on an earlier decision not deal with the Indian firm. Jindal and the South African subsidiary of ArcelorMittal – two of the world’s biggest steel [...]

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