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SAIL - Losses deepen
Jun 12, 2000The recovery in steel prices during the year seems to have had no effect on the bottomline of Steel Authority Of India Limited.
Government breathes life into Sail...
May 25, 2000
The Steel Authority of India Limited (SAIL). The name conjures up an image of size, dreams and inefficiency. The company is the tenth largest producer of steel globally, employing approximately 175,000 employees, and operating 4 integrated steel plants and 2 speciality steel plants. It represents the dream of making India self sufficient in terms of steel requirement. And finally, the company, which posted a net loss of Rs 15.7 bn in FY99, is consider
Government steel companies on brink of bankruptcy
Apr 3, 2000First it was the Steel Authority of India Limited (SAIL). Now there are reports that Rashtriya Ispat Nigam Limited’s (RINL) Vishakapatnam Steel Plant is one the verge of closure. The committee looking into the matter has recommended that the government sell-off a majority stake in RINL to save the unit from closure.
Tata Steel may bid for Salem. Is it a logical move?
Mar 29, 2000According to newspaper reports, Tata Steel is in talks with Usinor of France to jointly bid for Steel Authority of India's Salem Steel Plant (SSP).
The future is bright but...
Mar 25, 2000
The old economy stocks seem to have fallen out of favour. Or so it seems. Consider this. In India, the estimated spending on infrastructure is likely to be Rs 7.6 trillion over the next twenty years. This money will be spent on building roads, bridges, ports, houses and what not. Despite this the money flow in stock markets is distinctly towards the new economy stocks, which are considered to be the new growth engines of the economy. (No doubting that
SAIL may net Rs 50 bn from restructuring
Mar 6, 2000The Steel Authority of India Limited (Sail) is likely to net Rs 50 bn by hiving-off various businesses as part of its restructuring plan. The company plans to utilise the funds to retire debt taken from the steel development fund.
Jindal Vijaynagar to securitises its way through trouble
Mar 6, 2000According to newspaper reports, Jindal Vijaynagar Steel Limited (JVSL) is contemplating a move to securitise Rs 2 bn worth of receivables from sale of hot rolled coils (HRCs). The deal has been structured by ICICI.
SAIL to be on its feet in two years
Feb 29, 2000According to a statement made by its chairman, the Steel Authority of India (Sail) is expected to return to profitability in a time frame of two years. The company's annual loses for FY00 had been projected at over Rs 20 bn (pre-restructuring).
SAIL to hike product prices by 5%
Feb 25, 2000Steel Authority of India (SAIL) is planning to hike product prices by 5% by the end of the current fiscal. This has been reported by a leading national daily.
Now Tisco wants loan waiver from government
Feb 24, 2000Close on the heels of the government's decision to waive of Rs 50 bn worth of debt that was given the state owned Steel Authority of India (Sail), Tata Iron and Steel (Tisco) has demanded a similar waiver.
Salem Steel attracts Krupp, Nippon Steel
Feb 19, 2000The race for acquiring a majority (74%) stake in the Steel Authority (Sail) owned Salem Steel has begun. According to reports Krupp Thyson (Germany), Evesta Sheffield, Nippon Steel and Jindal strips are the front runners.
Centre injects life into bankrupt SAIL
Feb 16, 2000The government has finally approved the restructuring programme for the Steel Authority of India Limited (SAIL). The package includes a waiver of Rs 54.5 bn of debt. The total size of the package is estimated to be Rs 84.5 bn.
Tata Steel and Nippon Steel may extend relationship
Feb 15, 2000According to newspaper reports, Nippon Steel Corporation has expressed its desire to extend its relationship with Tata Iron and Steel (Tisco) to areas including marketing and development. It currently has a knowledge tie up with Tisco for the latter's cold rolling mill (CR mill) venture.
Tata Steel may focus on exports
Feb 9, 2000According to newspaper reports, Tata Iron and Steel Company (Tisco) is planning to focus on exports in the coming year. The move is aimed at capitalising on higher international prices.
SAIL may be privatised!
Feb 8, 2000According to newspaper reports, the government is likely to consider the privatisation of Steel Authority of India (SAIL). The centre is also taking up the capital restructuring plan for the company.
Jindal Vijayanagar posts sharp decline in net
Feb 2, 2000Jindal Vijayanagar Steel has posted a sharp increase in net losses for the quarter ended 31st December 1999. The company has suffered a sharp decline in operating margins. The surge in interest and depreciation expenditure have further led to a rise in net losses.
Bhushan Steel posts 4% decline in net
Feb 2, 2000Bhushan Steel and Strips has posted a 4% decline in net even as net sales jumped 44% during the quarter ended 31st December 1999. The company has suffered a sharp rise in costs. The rise in other income has failed to compensate for the decline in operating margins.
Jindal Drilling posts 24% rise in topline
Feb 1, 2000Jindal Drilling has posted a 24% rise in sales during the quarter ended 31st December 1999. The company has suffered an erosion in net margins mainly due to a decline in other income and a sharp rise in tax provisions. Jindal has benefited from a decline in interest and depreciation expenditure.
Tata SSL turns around in 3QFY00
Jan 31, 2000Tata SSL has posted a net profit of Rs 11 m during the quarter ended 31st December 1999. The company has benefited from a rise in other income and a sharp fall in interest and depreciation expenditure. The company’s net profit margins now stand at 0.7% as compared to (0.8%) in the corresponding period last year.
SAIL's export drive hits another roadblock
Jan 31, 2000The Steel Authority of India Limited (SAIL) has once again become the focus of an anti dumping probe. This time the country in question is Canada. This has been reported by a leading national daily.
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