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Govt scraps sale of SAIL's Bhadravathi plant on low bidder interest

During the current financial year (FY23), so far, Rs 24,543.67 crore has been obtained as disinvestment receipts against the target of Rs 65,000 crore

Govt scraps sale of SAIL's Bhadravathi plant on low bidder interest

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.

Vedanta, JSW can soar up to 18% as Nifty Metal eyes 'Golden Cross' breakout

The Nifty Metal index can rally up to 11 per cent following the breakout. Among individual stocks, Tata Steel needs to conquer its 200-DMA to gain strength.

Govt gets Rs 1,203-cr dividend from 5 CPSEs, including SAIL, IRCTC

The government has received Rs 1,203 crore as dividend tranches from five CPSEs, including SAIL, HUDCO and IRCTC.

SAIL records turnover of over Rs 1 trn in FY22, posts 50% rise

The increase in turnover coupled with improved operational performance, helped the company achieve its highest-ever numbers in terms of profitability: Chairperson

Stocks to Watch: Mahindra Logistics, Sterlite Tech, Amara Raja, JSW Energy

Mahindra Logistics has announced the acquisition of the B2B express business of Gurugram-based logistics firm Rivigo Services, which will help the company accelerate its capabilities in this space

Coal crisis hits SAIL's Bhilai steel plant output in Chhattisgarh

A stranded ferry from the Visakhapatnam port is cited to be the reason for plunging it into a deep crisis.

Govt receives 75 applications under PLI scheme for specialty steel

The government has received around 75 applications from domestic players under the PLI Scheme for specialty steel, according to an official. Applicants include all major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior steel ministry official said. "A significant number of applications have been received. There around 75 applications," the official said. However, no proposal has been received from any foreign entity, according to the official. After shortlisting the proposals, the government will come out with a final list which would take around 35-40 days, the official said. The government had set the final deadline on September 15 after several extensions for receiving proposals from manufacturers for benefits under the PLI (Production-Linked Incentive) scheme for speciality steel. The Union Cabinet in July last year approved a Rs 6,322-crore PLI scheme to boost the production of speciality steel in India. The move is expected to attract an additi

NTPC Ltd receives 13 bids for minority stake sale in Green Energy arm

NTPC has doubled its plan for non-fossil fuel sources based power to 130 Gw by 2032 at an estimated investment of $30 billion

Centre cites policy to reject union's proposal to merge RINL with SAIL

Public sector undertakings (PSUs) in non-strategic sectors shall be considered for privatisation, or they shall be closed, said Minister of State Finance Bhagwat Karat in Rajya Sabha.

Tata Steel, Vedanta can surge 14%, provided they defy this chart formation

All metal stocks have "Death Cross", and if the current rally shows sustainability, the pullback rally would see added interest, indicate charts.

Muted near-term iron prices likely to keep NMDC stock under pressure

Other triggers such as demerger/listing of steel plant unlikely this year

Sensex falls 111 pts, Nifty holds 15,750; RIL sinks 7%, MRPL 10%

Benchmark indices swung wildly in trade on Friday after the government's move to tax oil refiners' windfall gain amid soaring crude oil prices hurt index heavyweight Reliance Industries' stock

Stocks to watch: Maruti Suzuki, Airtel, Hind Copper, IHCL, SAIL, UPL, Lupin

Stocks to watch today: Maruti Suzuki launched refurbished version of popular compact SUV - Brezza; Future Enterprises defaulted on payment of interest of Rs 6.1 crore for NCDs.

SAIL-Bhilai Steel supply boosts Mumbai-Ahmedabad high-speed rail project

The 508-km project, scheduled for completion in October 2028, will connect Mumbai and Ahmedabad with a high-speed rail track where trains will travel at a speed of 320 kms per hour

V Krishnamurthy: The guardian of PSUs leaves behind an unmatched legacy

None of V Krishnamurthy's assignments were easy ones. He had to battle scepticism as well

SAIL Q4 net slips 29% to Rs 2,479 cr, firm declares dividend of Rs 2.25

SAIL's consolidated revenue from operations rose 32% to Rs 30,759 cr

IT, Metals drag Sensex 236 pts down; Delhivery rises 10%, Zomato 15%

CLOSING BELL: On the NSE, the Nifty50 shut shop at 16,138, down 77 points or 0.47 per cent

Tata Steel, SAIL: Should you Buy or Sell them? Here's what charts suggest

Charts of steel stocks signal further downside, indicating a fall up to 20 per cent in select shares; cement counters indicate a wait-and-watch approach

Nifty Metal bleeds 7% after govt hikes export duty on steel products

The government levied export duty on 11 iron and steel intermediates and key steel products.