With the capacity of sizable scale available at bargain prices, the sector will see a lot of Mergers and Acquisition (M&A) activities as bigger players with deep pockets eventually closing in on financially weak but potentially viable smaller firms.
Tag: Bhushan Steel
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Companies with large debt face risk of default
The preliminary challenge in investing in companies already under insolvency proceedings is - reversal of the order by appellate authority viz. NCLAT or the Supreme Court, explains Ashish Parwani, Partner, Rajani Associates.
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Clean up your act
On July 1, 2017 a new tax regime, in the works since over 15 years, designed as 'One Nation, One Tax', went live! Its impact on infrastructure will resolve future litigation in this area and although will mean higher tax, will also allow input tax credit in many categories.
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Primero Skills launches RPL under PMKVY in partnership with Bhushan Steel
Primero Skills would be conducting recognition of prior learning (RPL) of 3,000 people in the steel sector in eastern India under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) being executed by the Ministry of Skill Development and Entrepreneurship and National Skills Development Corporation (NSDC).
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Board asks Bhushan Steel to comply with norms
The Odisha State Pollution Control Board (SPCB) asked
Bhushan Steel to comply with environmental norms in order to avoid closure of its 3.1 million tonne per annum steel plant in Dhenkanal district. Earlier, the board found that the company failed in the management of the process effluent and surface runoff gene
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Bhushan Steel to review product prices
Nitin Johari, Director of Bhushan Steel informed reporters that the marketing team of his firm would meet soon to review price of its steel products. According to media reports, other steel firms may also revise the price of their steel products, especially long products, sold in the domestic market. Prices of some are likely
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Bhushan Steel about to complete expansion project
Bhushan Steel is reportedly nearing completion of its 3 million tonne (mn t) capacity expansion project at its Odisha plant and the firm expects to begin hot metal production from the new blast furnace by March. Presently, the firm has a production capacity of 2.5 mn tpa (million tonne per annum) and it produces secondary steel products like cold-rolled coils, galvanised coils
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Captive power projects face coal shortage
Captive power plants are struggling to implement their expansion plan because of coal shortage.Jindal Power, which supplies power to Jindal Power and Steel (JSPL) wants to add another 2,400 mw non-captive capacity by 2015.Yet, it is unable to lock-in coal supply for even half of this capacity.