NTPC SAIL

The ISA said that with strong momentum in infra spending and sustained growth in urban consumption, steel demand in India would expand by 8-9 mt every year in the next two financial years

State-owned SAIL on Friday said that it has entered into a pact with Airport Authority of India (AAI) for facilitating the start of commercial flights from Rourkela in Odisha. Steel Authority of India Ltd (SAIL) has signed the operation and management contract with AAI through its unit Rourkela Steel Plant. The public sector enterprise had in 2018 signed a Memorandum of Understanding (MOU) for use of its own airport, under the regional connectivity scheme UDAN, for operation of commercial flights. The civil aviation ministry has rendered financial support for the upgradation of this airport. The Odisha government will deliver security, fire and ambulance services besides assisting with other local clearances. AAI, on behalf of SAIL - Rourkela Steel Plant, will operate and manage the airport. Regional Connectivity Scheme (RCS) -UDAN, a flagship project of the central government launched by the civil aviation ministry, envisages enhancing the regional air connectivity by providin

The government on Wednesday scrapped the privatisation of SAIL's Bhadravathi steel plant due to insufficient bidder interest. The Expression of Interest (EoI) for selling SAIL's 100 per cent stake in Visvesvaraya Iron and Steel Plant (VISP), Bhadravathi in Karnataka, was invited on July 2019. The Department of Investment and Public Asset Management (DIPAM) said multiple EoIs had been received and qualified bidders had conducted due diligence. "However, due to insufficient bidder interest in proceeding further with the transaction, Government of India, with the approval of Alternative Mechanism (Empowered Group of Ministers) has decided to annul the EoI and thereby terminating the present transaction," DIPAM said.

With the exception of SAIL, other PSU stocks could breakout upon any positive news in the sector

Sources said the company would start a pilot of producing green hydrogen at its Vindhaychal thermal power unit in Madhya Pradesh

NTPC was down 1% at Rs 147, falling 8% thus far in November, while SAIL trading 1.5% lower at Rs 61.35, extending its Tuesday's 3% decline on the BSE.