Tag: mint

JSW Steel to raise output at Karnataka plant

India’s No.3 steelmaker JSW Steel said on Monday it plans to raise production at its plant in Karnataka state after the Supreme Court partially lifted an iron ore mining ban imposed in a key region of the state.

The Mumbai-based steelmaker has a capacity of 11 million tonnes per annum (MTPA), with plants in Karnataka and Tamil Nadu state, and requires 18 MTPA of iron ore to operate them at full capacity, it said.

On Friday, Supreme Court allowed state-run miner NMDC to mine up to 1 million tonnes per month of the steel-making ingredient from 6 August in Bellary.

JSW Steel to raise output at Karnataka plant – Corporate News – livemint.com.

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Sesa Goa to buy 51% stake in Western Cluster

Sesa Goa, a subsidiary of Vedanta Resources, on Saturday said it will buy 51% stake in an iron ore making firm in Liberia for $90 million in an all-cash deal.
“We are highly delighted with this opportunity to consolidate our iron ore business.
Elenilto has more than 100 exploration and mining licences with over 10,000 sq km area in Africa and Europe.

Sesa Goa to buy 51% stake in Western Cluster for $90 mn – livemint.com.

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Tata Steel to pump Rs8,000 crore in Jamshedpur in FY12

Sharing details of the Gopalpur SEZ project, Tata Steel said it would invest Rs800 crore as anchor investor in the 50,000-tonne ferrochrome and 0.5-MT rolling mill.
We are investing Rs8,000 crore in the current fiscal, which will be in the Jamshedpur plant, Tata Steel managing director H. M. Nerurkar said on Friday.
Tata Steel global debt equity is 1.5:1 but in all future projects the company would aim to keep it at 1:1.

Tata Steel to pump Rs8,000 crore in Jamshedpur in FY12 – livemint.com.

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DLF continues to be in a quagmire

Residential sales volume was up about 15%, about two-fifths of which came from plotted land sales, which has a shorter sales cycle. Thanks to this, DLF’s revenue grew 21% over a year ago.

Operating margins contracted by about 290 basis points from a year back.

Analysts’ presentation paints a rather grim picture, indicating fewer residential launches and lower commercial leasing volumes compared with previous quarters.

DLF continues to be in a quagmire – livemint.com.

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