COMMODITIES

JSW Cement buying majority stake in Shiva Cement, makes open offer

January 12, 2017 | Bruhadeeswaran R

JSW Cement Ltd, part of the billionaire Sajjan Jindal-led JSW Group, has made an open offer to acquire a 32% stake in Shiva Cement Ltd from public shareholders as part of a plan to buy a controlling stake in the Odisha-based company.

Exclusive: Speciality chemicals maker Fine Organics appoints bankers for IPO

January 03, 2017 | Ranjani Raghavan & Ankit Doshi

Speciality chemicals firm Fine Organic Industries Pvt. Ltd has appointed financial advisors to finalise plans for an initial public offering this year, two people familiar with the matter said.

Hong Kong millionaire Balram Chainrai to increase stake in Asian Oilfield

January 03, 2017 | Rounak Kumar Gunjan

Balram Chainrai, a Hong Kong-based entrepreneur of Nepali origin, will increase his stake in Asian Oilfield Services Ltd as part of the loss-making Indian company’s fundraising plan to run its operations and cut debt.

ONGC to acquire GSPC’s KG basin assets for $1.2 bn

December 24, 2016 | TEAM VCC

Oil and Natural Gas Corp (ONGC), India’s biggest explorer, has agreed to acquire Gujarat State Petroleum Corporation’s (GSPC) 80% stake in a gas field off India’s east coast for $995.26 million (Rs 6,750 crore).

Tata Steel to buy iron ore assets of erstwhile Stemcor

December 23, 2016 | TEAM VCC

Tata Steel Ltd said on Friday it has signed a definitive pact to acquire Brahmani River Pellets Ltd, a supplier of iron ore pellets, for Rs 900 crore ($132 mn) including debt.

Tata Steel shareholders vote out Nusli Wadia

December 22, 2016 | TEAM VCC

Tata Steel Ltd said on Thursday its shareholders have voted to remove Wadia Group chairman Nusli Wadia as an independent director on the steelmaker’s board.

In charts: How the pecking order of top sources of gold smuggled into India changed

December 19, 2016 | Keshav Sunkara

Between January 2012 and August 2013, India increased the import duty on gold five times—from a flat Rs 300 per 10 gram to 10%—to discourage purchases from overseas that had widened the current account deficit to a record.

SAIL, ArcelorMittal ironing out kinks for $1 bn JV, says steel minister

December 16, 2016 | Deepak Kumar Sahu

Indicating that differences between state-run Steel Authority of India Ltd (SAIL) and world’s largest steel company ArcelorMittal SA for setting up an automotive steel unit have been resolved, India’s steel minister Chaudhary Birender Singh on Thursday said the joint venture between the two compa

Adani aims to start work on Australia coal mine by middle of next year

December 06, 2016 | PTI

Indian energy giant Adani on Tuesday said it will start construction at the 21.7 billion dollars Carmichael mine in Australia by the middle of next year and vowed to give priority local workers for the project, which is expected to generate some 10,000 jobs.

Exclusive: Mysore Minerals may merge with Mysore Lamp Works

December 02, 2016 | Maulik Vyas & Bruhadeeswaran R

Mysore Minerals Ltd (MML), a government of Karnataka undertaking, has hired a financial advisor to run the process of merging the firm with Mysore Lamp Works Ltd (MLW), a listed government firm, both of which have their registered offices in Bangalore, three persons close to the development told

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