COMMODITIES

Steelmaker Usha Martin plans to sell wire rope business

February 10, 2017 | Deepak Kumar Sahu

Speciality steel maker Usha Martin Ltd is planning to sell its wire and wire rope business.

Tata Steel signs pact to sell UK speciality steel biz for $125.6 mn

February 09, 2017 | TEAM VCC

Tata Steel Ltd said on Thursday it has signed a definitive pact to sell its UK speciality steel business to Liberty House Group for £100 million ($125.6 million or Rs 838 crore).

Nippon Paper acquiring BK Modi Group’s paper cup making biz

January 24, 2017 | Bruhadeeswaran R

Japan’s Nippon Paper Industries Co. Ltd is entering the Indian market by acquiring the largest local paper cup manufacturing company owned by the BK Modi Group for an undisclosed amount.

Govt seeks to raise $70 mn from stake sale in miner MOIL

January 23, 2017 | Ankit Doshi

The government will sell a 10% stake in state-run manganese ore mining company MOIL Ltd to raise as much as Rs 475 crore ($70 million) as part of its disinvestment plan for the current financial year.

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.

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