Jindal Steel News
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Indian stock-index futures gained as foreign funds extended this year’s record purchases amid signs corporate earnings are improving, and on speculation the central bank will cut borrowing costs next week.
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Indian stock-index futures swung between gains and losses, signaling benchmark indexes may hold near a six-week high.
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Indian stock-index futures dropped as overseas investors extended the longest selloff of the nation’s shares in almost a year on speculation quarterly earnings may decline for the first time in three years.
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Jindal Steel & Power Ltd., India’s second-biggest steelmaker, hired banks to arrange a $400 million loan, four people familiar with the matter said.
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Jindal Steel & Power Ltd., India’s biggest steelmaker by value, plans to raise as much as 120 billion rupees ($2.2 billion) of debt to expand capacities and tap demand arising from federal infrastructure spending.
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Tata Steel Ltd., India’s largest producer of the alloy, plans to raise as much as $1 billion selling high-yield bonds, according to three people familiar with the matter.
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Jindal Steel & Power Ltd. ended talks to buy Afferro Mining Inc. after assessing its Cameroon iron ore reserves and will negotiate instead with two other African miners, said two people with knowledge of the matter.
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Jindal Steel & Power Ltd., controlled by Indian billionaire lawmaker Naveen Jindal, offered A$222 million ($231 million) to buy the rest of Gujarat NRE Coking Coal Ltd.
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Billionaire Sunil Mittal’s Bharti Airtel Ltd. raised $1 billion selling dollar bonds, the second Indian company to conduct a maiden offering in a week as record- low yields drive overseas issuance.
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Coal India Ltd., the world’s biggest producer of the fuel, has set aside 350 billion rupees ($6.5 billion) to buy and develop mines overseas over the next five years to bolster domestic supplies.
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