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GALVA METALIKS
Nithia Capital acquires Crest Steel & Power for Rs 600 crore“With our newly forged partnership with Amalgam Steel, we believe Crest will soon achieve a successful turnaround and is well set on its pl...- After Uttam Galva, UK’s Nithia Capital keen to bid for Visa SteelRecently, Bank of Baroda put its exposure of Rs 150 crore to the asset on the block as its insolvency resolution keeps getting delayed.
- After Market: Jet flies high, TaMo struggles; 67 stocks look oversoldThe domestic market danced on the tunes of its global peers that lurched lower after recession fears resurfaced in the US.
- Stocks in the news: Jet Airways, Indoco Remedies, Mindtree and Zee EntertainmentHere are a few stocks which may buzz the most in today's trade.
- What changed your markets while you were sleepingNifty futures on the Singapore Exchange were trading 22.50 points, or 0.21 per cent.
- JSW Steel unlikely to bid for Uttam Value, Galva MetaliksJSW Steel has been categorical about not exceeding its net debt to EBITDA ratio beyond 3.75x.
- JSW steel shows interest in Asian Colour Coated IspatAsian Colour Coated Ispat was admitted by the Delhi insolvency tribunal for resolution in July this year and owes Rs 4,957 crore to lenders.
- Liberty House misses deadline to pay Amtek, Adhunik lendersLiberty House had won the assets in July and was expected to pay lenders Rs 4,810 crore by October.
- ArcelorMittal to sell four European plants to Liberty House to acquire IlvaThe four facilities will together add 8 MT rolling capacity to Liberty House and take it to 15 MT a year apart from adding 12,500 people to...
- Will liquidate insolvent companies if prices are suppressed, says SBI chairman Rajnish KumarRBI was empowered through an ordinance last May to direct banks to initiate insolvency proceedings against borrowers for resolution of stre...
- Market Now: Over 80 stocks hit fresh 52-week lows on NSEInvestors offloaded positions ahead of March F&O expiry and financial year ending.
- Shakti Bhog, Anrak, Wind World taken to bankruptcy courtThe three companies together owe banks more than Rs 12,000 crore in loans and interest.
- SBI to start insolvency proceedings against 12 defaulters from todayRBI has directed banks to set aside 50% as provisions on loans that are referred to the NCLT and 100% in case of liquidation.
- RBI won’t extend deadline for 2nd list of defaultersThe RBI also declined to relax any of its other stipulations, including the process related to restructuring outside the bankruptcy court.
- Bankers look for speedy resolution of 28 accounts28 bad loan accounts need restructuring by December 13 or they’ll end up in NCLT, which will require banks to provide for losses of up to 5...
- 23 steel projects stuck due to green clearanceAs many as 23 steel projects across the country, are stuck due to grant of environment clearance Parliament was informed today.
- Weak rupee, high material costs to impact steel sector profitsGlobal contract prices of iron ore and coking coal were approximately $169/tonne and $315/tonne from July to September 2011.
- Tata Steel forms JV with Nippon SteelTata Steel, in continuation of an industry-wide trend, said it has formed a 51:49 joint venture with Japan’s Nippon Steel for production an...
- Inventory losses bleed secondary steel producersSecondary steel producers gained from an upward revision in the valuation of inventory for the past 7-8 quarters, but the trend was reverse...
- Stocks to watch: Satyam, Suzlon, TCS, GSS AmericaThe management of Satyam Computer Services, fighting to boost morale in the beleaguered company, has told its employees that the sale of th...
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