Indian steel industry news

Another View: Recycled radiation - San Gabriel Valley Tribune

Sat, 04 Jul 2009 17:06 GMT

Admittedly, it sounds like bad science fiction, but long-term exposure to such products as diverse as reclining chairs, common kitchen utensils and tableware, elevator buttons and construction steel could be a long-term health hazard. That&os;s because ...

A-I all for periodic turnaround strategy

Sat, 04 Jul 2009 13:14 GMT

Cash-strapped Air India would draw up a comprehensive short, medium and long-term strategy to rejuvenate itself. This was decided at a marathon meeting lasting nearly 12-hours of the turnaround committee comprising representatives of the management and unions. The committee was set up recently to suggest initiatives that would enable the airline to overcome its financial woes.

JSW Steel to double US output in 3 months

Sat, 04 Jul 2009 13:10 GMT

Sajjan Jindal-controlled JSW Steel plans to double the output from its plate and pipe mills in the US following a revival in demand. At present, the plant is utilising 15 per cent of its 1.7 million tonnes (MT) annual production capacity. Within three months, the mills will be running at 30 per cent capacity as the market is recovering slowly, said JSW Groups Chief Financial Officer MVS Seshagiri Rao.

Global steel majors await India's move on iron ore exports - Hindu Business Line

Sat, 04 Jul 2009 12:37 GMT

Hindu Business Line

Global steel majors await India's move on iron ore exports
Hindu Business Line
In India, there have been numerous representations for moderating the huge outflow of iron ore. Mumbai, July 4 Steel majors in Asia and elsewhere are ...
Steel bends under slowdown pressureBusiness Line
China steelmakers working on lower ore price-executiveReuters
China defends M&A policy towards foreign investorsguardian.co.uk
Onet.pl
all 16 news articles »

Novartis loses battle for cancer drug patent

Sat, 04 Jul 2009 12:33 GMT

Novartiss famed cancer drug, Glivec, will not get patent protection in India. The apex body on patent and trademark disputes, the Intellectual Property Appellate Board (IPAB), has ruled that the drug lacks innovation and the high price tag of Rs 1,20,000 per month per patient would be too high for the common man. Any patent granted to support such a high monopoly price would be against public order, the ruling said.

India's Tata Steel to Raise Capital in Overseas Listing - Wall Street Journal

Sat, 04 Jul 2009 12:25 GMT

India's Tata Steel to Raise Capital in Overseas Listing
Wall Street Journal
MUMBAI -- India's Tata Steel Ltd. plans to raise about $600 million by selling shares overseas in the next four to six ...

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JSW Steel to double US output in 3 months - Business Standard

Sat, 04 Jul 2009 12:23 GMT

Business Standard

JSW Steel to double US output in 3 months
Business Standard
JSW Steel, India's largest private sector steel maker, had indicated on May 19 that the mills could be closed down for three months starting June and the ...
Analysts' Picks: JSW Steel, Unitech, Tata Steel, GSPLEconomic Times
Libor fall bails out Hindalco, JSWEconomic Times

all 3 news articles »

5 Indian firms in race to exploit Afghan iron ore mine - MSN India

Sat, 04 Jul 2009 01:21 GMT

Mumbai: Five Indian metals and mining companies are in the race for acquiring mining rights for the largest iron ore deposit in war-torn Afghanistan. The government has shortlisted Vedanta group’s Sesa Goa, Essar Minerals, Ispat Industries, JSW ...

'Nothing new in terms of cargo services' - Financial Express

Fri, 03 Jul 2009 17:57 GMT

Font Size Mumbai: No increase in freight rate in the Rail Budget has come as a welcome move for the steel industry which is now increasing its focus on strengthening the domestic market, with exports taking a hit due to global slowdown. Considering ...

Corus sets aside threat to sue - Financial Times

Fri, 03 Jul 2009 16:17 GMT

Corus has agreed to set aside a threat to sue the heads of four international steel producers, opening the door to talks that could offer a lifeline to one of the company’s biggest steel plants. After the change in stance by Kirby Adams, the Anglo ...

India's Tata Steel to Raise Capital in Overseas Listing - Wall Street Journal

Fri, 03 Jul 2009 15:41 GMT

MUMBAI -- India&os;s Tata Steel Ltd. plans to raise about $600 million by selling shares overseas in the next four to six weeks, an investment banker with direct knowledge of the matter said Thursday. "The listing could either be in London or in ...

India’s Tata Steel to raise capital in overseas listing - Tehran Times

Fri, 03 Jul 2009 14:44 GMT

“The listing could either be in London or in Luxembourg and discussions are still on to decide on that,” the banker, who wished to remain unnamed, told Dow Jones Newswires. Citigroup Global Markets India Pvt. Ltd., a unit of Citigroup Inc., and J ...

No fright for core sector, freight rates stay intact - Hindustan Times

Fri, 03 Jul 2009 13:39 GMT

The largely people-friendly railway budget presented in Parliament has been lapped up by core sectors like cement, iron ore and steel which provide the maximum revenues to the ministry. The railway budget has left freight rates unchanged as was being ...

Indian Stocks Advance, Drives Sensex Higher for a Second Week - Khaleej Times

Fri, 03 Jul 2009 13:32 GMT

MUMBAI - India’s stocks rose, driving the benchmark index higher for a second week, led by Larsen & Toubro Limited, after the government pledged investment in the nation’s railways and left freight and passenger fares unchanged. Larsen & Toubro ...

Automobile sector: Picking up speed

Fri, 03 Jul 2009 13:13 GMT

In the last couple of months, it was only the market leaders in the auto space that were doing well. But the numbers for the month of June show that others companies, too, are seeing better momentum. Mahindra and Mahindra(M&M), for instance, has done brisk business in utility vehicles up 40 per cent sequentially driven by the Xylo, while the growth in tractors was a strong 41 per cent. Tata Motors posted better sequential volumes for heavy, medium and light commercial vehicles indicating that more goods are being transported.

Cash crunch won't affect our R: JLR chief

Fri, 03 Jul 2009 13:11 GMT

Jaguar and Land Rover (JLR), the two British marquee brands reeling under financial stress, will be able to keep their research and development (R&D) programme largely on schedule for the time being, thanks to timely support from its parent company Tata Motors.

Air India staff have not yet understood gravity of fiscal situation: Jadhav

Fri, 03 Jul 2009 13:09 GMT

Taking a tough stance against agitating Air India staffers, the state-run carriers CMD Arvind Jadhav in a communication to employees said it seems employees have not yet understood the gravity of the airlines financial situation and hinted they ...should be prepared to face the impact of harsh decisions that will be required to be taken in the coming weeks to meet the crisis.

India Inc praises Mamata budget

Fri, 03 Jul 2009 13:04 GMT

India Inc. has given a thumbs-up to the railway budget, calling it people-friendly and industry-friendly.

Coal ministry cancels linkages

Fri, 03 Jul 2009 12:53 GMT

In a bid to check the hoarding of coal reserves by private power developers, the government has approved the cancellation of coal linkages of 25 captive power projects.

5 Indian firms in shortlist to exploit Afghan iron ore mine

Fri, 03 Jul 2009 12:31 GMT

Five Indian metals and mining companies are in the race for acquiring mining rights for the largest iron ore deposit in war-torn Afghanistan. The government has shortlisted Vedanta groups Sesa Goa, Essar Minerals, Ispat Industries, JSW Steel and Rashtriya Ispat Nigam for a bid for the 1.8 billion tonne Hajigak iron ore deposit.