JSW Steel Chairman Sajjan Jindal expects a lot of synergy in operation and economies of scale from the merger of JSW Ispat with itself. The company could implement brown-field expansion at Vijayanagar in Karnataka and Dolvi in Maharashtra, Jindal said
Tag: stake
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Promoter firms offload 6.38% stake in JSW Ispat
Through both off and on market transactions, 10 promoter group companies of JSW Ispat Steel offloaded 6.38 per cent stake in the firm for Rs 174.47 crore, according to a communication to the stock exchange. All the 10 promoter firms belong to Pramod and Vinod Mittal or their families, which held less than 20 per cent
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ADB’s stake in Petronet eyed by IGL
Asian Development Bank (ADB), which is in the process of offloading its 5.2 per cent shareholding in Petronet LNG is set to get a buyer as Indraprastha Gas is interested in picking up the stake. Although Petronet's promoter companies IOC, ONGC, GAIL and BPCL were originally interested in buyi
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Govt plans to offload stake in Oil India in mid January
During the middle of January, government plans to launch the divestment of its 10 per cent stake in Oil India. The government plans to mop up around Rs 2,700 crore by offloading its 10 per cent stake in the firm at the p
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ArcelorMittal to trim debt via stake sale
As part of its strategy to offload assets and reduce debt, ArcelorMittal decided to sell 15 percent stake in Canada's Labrador Trough iron ore mining and infrastructure asset. The stake would be bought by a consortium that includes South Korean steelmaker POSCO and Taiwan-listed China Steel Corp in a deal valued at $1.1 billion, repo
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L&T Finance buys 11.42% stake in PVR
Media reports says that L&T Finance has picked up 11.42 per cent stake or 32.93 lakh shares in PVR by invoking pledged shares.
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Govt to offload stake in NMDC, OIL, NTPC
Reports suggest that government may offload its 10 percent stake in National Mineral Development Corporation (NMDC) before December 15.The NMDC issue may be followed by Oil India (OIL) and then National Thermal Power Corporation (NTPC), reports suggest. Besides, government also plans to offload some of its st
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Eni waives pre-emption rights in favour of OVL
In a move that reduces the hurdle for ONGC Videsh's $5 billion bid to acquire ConocoPhillips' stake in Kashagan oilfield of Kazakhstan, one of the field operator Eni has publicly stated that it will not pre-empt or block the acquisition.
Italy's Eni is the operator of the first phase of the Kashagan oilfield that is due to start production in second quarter
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Govt may offload 10% stake in Oil India by Jan 15
The 10 percent stake sale in Oil India, through which the government aims to garner Rs 2,500 crore, may be completed by January 15, reports suggest.
It is learnt that there is consensus between finance and oil ministries on the stake sale date. The oil ministry had earlier expressed reservations over bringing issues of oil sector companies "in a hurry", saying at least two offers for s
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Lloyds steel to get more funding from Uttam Galva
The loss making Lloyds Steel, in which Uttam Galva group acquired 58.35 percent stake recently, is set to get a further capital infusion of Rs 380 crore from the group. Agency reports suggest that the Rs 380 crore additional investment would be used to turnaround Lloyds Steel, which posted net losses of Rs 290 crore in last three financial years. Lloyds Steel has a total loan portfolio (both, secured and u