17 January 2008
मोर्निंग glory
Ispat Industries has tied up with Shell LNG to secure additional requirement of gas for ramping up its sponge iron production capacity.
LNG from Shell's Gujarat terminal would be transported by GAIL India to meet Ispat's requirement, market sources said.
The move, poised to have a positive impact on the company's bottom-line, is expected to save about Rs 200-250 crore a year with higher captive sponge iron production through increased availability of gas from Shell.
LHI: Domestic steel maker Ispat Industries (IIL) may become the first company outside the Tata fold to supply steel for Nano.
The company has initiated talks with Tata Motors for supplying auto grade hot roll coils (HRC) for Nano scheduled for launch later this year. “We have started talks with Tata Motors for supplying HRC required for Nano. As the company is already an established supplier of steel to Tata Motors, we are hopeful to be part of the Nano project too,” Ispat Industries (IIL) executive director (marketing) Vinod Garg said.
Infy BPO to ink 3 deals worth $50-$150m each
While the Indian outsourcing industry is coping with sub-prime crisis and an escalating rupee, Infosys BPO is chalking out new ways to stay ahead.
Reliance Power premium slips in grey market
Shrinking grey market premium in the Reliance Power issue, as a result of the bearish mood in the market in the past two sessions, is prompting investors in the non-institutional category to reduce their exposure to the issue.
Vedanta Resources is planning to make an initial public offer (IPO) to raise $1 billion for Sterlite Energy, a subsidiary of its group company and Indian non-ferrous metals producer Sterlite Industries (India) Ltd.
"We are planning for a $1-billion IPO for Sterlite Energy in the next few months," Vedanta Resources Chairman Anil Agarwal told reporters here Wednesday.
Agarwal, however, said it was too early to set a date for the IPO. "I can't really give you a date but it will be in a few months time. Bankers and advisers are working on it," Agarwal said.
Agarwal said the London Stock Exchange-listed Vedanta Resources is also considering options to sell shares via a pre-IPO placement.
He added that the company plans to participate in coal-based power generation projects through the subsidiary, Sterlite Energy Ltd.
JSW Steel Ltd today said it has acquired eight mines in North of Chile for exploitation of magnetite iron ore deposits in the region for a consideration of $52 million.
The acquisition has been done through its Netherlands based wholly owned subsidiary for exploration and exploitation of magnetite iron ore deposits in the region of Atacama in the North of Chile.
by erectusplus at 02:50:00 |
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