Steel

27 Mar 2018

ArcelorMittal was formally declared ineligible to bid for Essar Steel due to the technicality of still being listed as a promoter of Uttam Galva Steel on the stock exchange, even though it had sold its shareholding before submitting the bid offer

26 Mar 2018

Banks led by State Bank of India, had, last week, voted in favour of inviting bids from six companies which had submitted expressions of interest after the resolution professional declared bids from ArcelorMittal and Numetal as ineligible

23 Mar 2018

21 Mar 2018

09 Mar 2018

The United States is the largest steel importer in the world and the order could hit South Korea, China, Japan, Germany, Turkey and Brazil the hardest

08 Mar 2018

The acquisition of the 5.6-million tonnes Bhushan Steel will add significantly to Tata Steel’s 13-million tonnes domestic capacity and make it the largest steel maker in India

05 Mar 2018

Billionaire investor Carl Icahn, till recently an advisor to President Donald Trump, sold nearly 1 million shares in a company tied to the steel industry just ahead of Trump's decision to impose costly tariffs on steel and aluminium imports

05 Mar 2018

The consortium led by VTB Capital said it is prepared to drop Rewant Ruia as a minority shareholder if the government decides it is against the rules to allow promoters a backdoor entry into sick units. Senior VTB official Makram Addoud also said ArcelorMittal’s bid is illegal and it is acting as a ‘spoiler’

03 Mar 2018

ArcelorMittal has signed a joint venture agreement with Nippon Steel and Sumitomo Metal Corporation (NSSMC) to bid for Essar Steel India Limited, which is being auctioned by its creditors

28 Feb 2018

"The growth in the Indian market in the next 10 years would probably not be seen in any other market," ArcelorMittal executive vice president Brian Aranha said while explaining the importance of Essar Steel to his firm