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May 25, 2012
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| SAIL signs JV with Burn Standard Company |
| India Infoline News Service/19:51,May 25, 2012 |
| The estimated capital outlay for the project is about Rs 2bn. |
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| Metal & Mining Newsletter - May 21 to May 25, 2012 |
| India Infoline News Service/19:25,May 25, 2012 |
| Tata Steel Ltd has announced that the Board of Directors of the Company has appointed Cyrus Pallonji Mistry, Deputy Chairman of Tata Sons Limited, Mumbai and Mallika Srinivasan, Chairperson of Tractors & Farm Equipment Limited, Chennai, as additional directors on the Board of the Company with effect from May 21, 2012.
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| India Infoline Weekly Newsletter - May 25, 2012 |
| India Infoline News Service/18:41,May 25, 2012 |
| Whether UPA II manages to improve its scorecard in the remaining two years of its term is anybody’s guess. Things have not exactly been rosy for the Congress-led regime, and the biggest victim of the policy paralysis has been the rupee. |
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| NMDC signs MoU with RINL for 450 KM slurry pipeline |
| India Infoline News Service/09:21,May 25, 2012 |
| The Minister also expressed interest in progress of NMDC’s steel plant at Nagarnar and advised the company to complete its mining projects in India and abroad at a faster pace. |
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| India and Australia discuss steel sector cooperation |
| India Infoline News Service/09:19,May 25, 2012 |
| The Australian High Commissioner agreed to provide all necessary support to Indian companies exploring raw material assets in Australia. |
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May 24, 2012
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| Essar Steel awarded ‘Platinum Award’ by Caterpillar |
| India Infoline News Service/15:17,May 24, 2012 |
| The award also validates Essar Steel’s usage of 6 Sigma methodologies for continuous and sustainable improvements through the initiatives of Essar Manufacturing Excellence. |
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| Steel Minister reviews annual performance of RINL |
| India Infoline News Service/08:53,May 24, 2012 |
| RINL achieved efficiency in four of its techno- economic parameters namely water consumption, Fuel rate in the Blast Furnace which includes coke rate, BF slag utilization etc. |
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May 23, 2012
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| Fitch places Cooper on RWN on acquisition by Eaton |
| India Infoline News Service/10:49,May 23, 2012 |
| The Negative Rating Watch reflects the material increase in leverage at the combined company. Eaton plans to reduce leverage and return to stronger credit metrics within two to three years of the acquisition. |
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May 22, 2012
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| Tata Steel's Q4 2012 an improvement,but relief still few months away : Moody's |
| India Infoline News Service/17:09,May 22, 2012 |
| Moody's outlook for Tata Steel going forward is cautiously supportive of its credit profile. The Group will benefit from increasing Indian output which should deliver EBITDA of over USD300/t and move the Group average comfortably above USD100/t. |
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| Govt slams SAIL for project delays, will hold meet with producers on prices
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| India Infoline News Service/12:37,May 22, 2012 |
| Production at SAIL, the country’s largest steel producer, stagnated during 2011-12 at 14.1 million tonnes per annum (mtpa).
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| Rane Engine Valve FY12 income from operations up 6% |
| India Infoline News Service/09:09,May 22, 2012 |
| The total dividend for the year is 105% (including 75% interim dividend) as against 50% for last year. |
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| IIFL recommends 'Add' on Tata Steel |
| India Infoline News Service/08:53,May 22, 2012 |
| The Indian operations would gain from 17% volume growth and rupee depreciation. Earnings will also receive a boost from the recently commissioned Benga coal project |
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May 21, 2012
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| Tata Steel appoints Cyrus Mistry, Mallika Srinivasan as additional directors on Board |
| India Infoline News Service/15:27,May 21, 2012 |
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| Coal India plans to exit from ICVL: reports |
| India Infoline News Service/09:02,May 21, 2012 |
| Reports stated that the decision to exit from consortium was taken by the board in the meeting. |
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May 19, 2012
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| Coal India Q4 net profit at Rs12235.20 mn |
| India Infoline News Service/11:15,May 19, 2012 |
| Total Income has increased from Rs. 14743.30 mn for the quarter ended March 31, 2011 to Rs. 16934.30 mn for the quarter ended March 31, 2012. |
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May 18, 2012
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| Gold imports likely to fall on weak demand
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| India Infoline News Service/20:00,May 18, 2012 |
| Gold jewellery demand in India dipped 19% and investment demand tanked 46% in the first quarter of 2012. |
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| India Infoline Weekly Newsletter - May 18, 2012 |
| India Infoline News Service/19:55,May 18, 2012 |
| Greece also suffered another rating downgrade from Fitch. Meanwhile, Spain too hogged the limelight due to growing concerns over its fragile banking sector.
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| Tata Steel consolidated PAT plunges in Q4 |
| India Infoline News Service/19:55,May 18, 2012 |
| Tata Steel consolidated Q4 FY12 revenues stood at Rs 338.60bn vs Rs 334.43bn YoY. |
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| Metal & Mining Newsletter – May 14 to May 18, 2012 |
| India Infoline News Service/19:15,May 18, 2012 |
| The Central Bureau of Investigation (CBI) has conscted raids at eight premises of ex-Karnataka Chief Minister BS Yeddyurappa, his sons and others as part of its ongoing investigation into an illegal mining case.
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| Ajay maken flags off Premlata Agrawal’s Mt McKinley Expedition |
| India Infoline News Service/17:39,May 18, 2012 |
| The one who completes this challenge of conquering all the seven summits is considered to be a member of the ‘Hall of Fame’ for mountaineers. |
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