Niraj Shah

JSW Unit Gets $1.2 Billion to Heal Biggest Loss: Corporate India

JSW Steel Ltd., India’s third- largest producer of the alloy, will start a 65 billion-rupee ($1.2 billion) expansion to turn around a unit that reported the biggest annual loss among the nation’s steelmakers.

Steel Authority Said to Close Odisha Mine, Cutting Output

Steel Authority of India Ltd., the country’s second-biggest maker of the alloy, will stop work at an iron ore mine in the eastern state of Odisha to make way for an elephant corridor, two people familiar with the matter said.

Tata Steel Seen Gaining From New Quality Rules: Corporate India

Tata Steel Ltd., Steel Authority of India Ltd. and JSW Steel Ltd. may increase their share of the $34 billion Indian market as new rules to upgrade product quality force smaller rivals to shut factories.

Maoist Hideout Threatens $3 Billion Steel Plant: Corporate India

Attacks by Maoist rebels in India are preventing the nation’s second-largest maker of steel from mining an iron-ore reserve it says is vital to feed a planned $3 billion expansion of its biggest plant.

Iron-Ore Export Ban Upheld by Indian Court, Shrinking Supplies

An Indian court upheld a ban on iron-ore exports from the nation’s second-biggest producing state, likely reducing global supplies of the raw material.

Posco Said to Get Land for $12 Billion India Unit in October

India will this month resume the compulsory land purchases to enable Posco, Asia’s third-largest steelmaker, to begin building a $12 billion steel plant, said three people familiar with the plans.

JSW Steel First-Quarter Profit Slumps 90% on Currency Loss

JSW Steel Ltd., India’s third- biggest producer of the alloy, reported an unexpected 90 percent drop in first-quarter profit following a currency loss. The shares plunged.

Steel Authority Expansion Delay to Erode Profit: Corporate India

Steel Authority of India Ltd., the nation’s second-biggest maker of the alloy, may fail to revive profit from an eight-year low as project delays more than double the cost of a planned capacity expansion to $13 billion.

Jindal Power to Invest $7.7 Billion in Hydro: Corporate India

Jindal Power Ltd., a unit of India’s biggest steelmaker by market value, plans to spend $7.7 billion on hydroelectric projects over the next decade as a coal shortage forces utilities to cut dependence on fossil fuels.

ArcelorMittal Unit Grows Profit Amid Euro Slump: Corporate India

Uttam Galva Steels Ltd., the Indian unit of ArcelorMittal, is targeting a 20 percent increase in profit over the next two years as demand at home bucks a global slump sparked by Europe’s debt crisis.

"Let 's see if they are actually able to acquire land this time."

- Niraj Shah on Sep 06, 2012

India

Asia

Manmohan Singh

China

Gold Declines in London as U.S. Stimulus Outlook Curbs Demand

Yen Slips as Amari Backtracks While Europe Shares Decline

China Trade Surplus Seen by BofA at One-Tenth Customs Figure

Death Toll Passes 90 After Oklahoma Tornado Hits Suburb

WTI Crude Trades Near Seven-Week High as Stockpiles Seen Falling