Metal Sector

In conversation with Sheetal Agarwal of IIFL, the management shares the company's expansion plans, macro opportunities and strategic priorities.

Vedanta Ltd was also vying to acquire the insolvent steel manufacturer. As a successful resolution applicant, Jindal Saw received a letter of intent from lenders, the firm claimed in a statement to the market on Monday.

The Board of Directors of the Company fixed the record date as Friday, the 28th day of October 2022, at their meeting held on October 13, 2022, according to the filing with the exchange.

On October 11, NMDC claimed it had received the MCA's orders on Tuesday and was working to comply with the demands outlined in the ministry's order in a late-night communiqué to stock exchanges.

Following this merger, Tata Steel’s assets will grow to Rs1.25 lakh crore, as per the sources.

The issue size includes the issuing of up to 62.51 lakh fully paid-up equity shares with a face value of Rs10 through the book-building procedure.

The Bank Nifty index climbed over 425 points. All the sectors are trading in the green.

While Creixent Special Steels (CSSL) is engaged in the business of holding investments, JSW Steel and JSW Ispat are engaged in the production and marketing of steel products.

Tata Steel Long Products has acquired a 93.71% stake in 1 million tons per annum Neelanchal Ispat Nigam.

CMD Sumit Deb, who was in the capital, told Press Trust of India that the demerger of NSP from NMDC is proceeding as planned.