COMMODITIES

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

Exclusive: India Equity Partners logs out of another loss-making bet

November 28, 2016 | Joseph Rai

Private equity firm India Equity Partners, which has not made any investment in a new company since 2012 as it seeks to find buyers for its stake in a bunch of portfolio firms, has logged another gloomy exit.

Tata Steel starts talks with Liberty House to sell UK speciality steel biz

November 28, 2016 | TEAM VCC

Tata Steel Ltd said on Monday it has agreed to negotiate the potential sale of its UK speciality steel business to Liberty House Group for £100 million ($124 million or Rs 853 crore) including debt.

Kedaara Capital-backed Manjushree Technopack acquires Varahi

November 24, 2016 | Bruhadeeswaran R

Bangalore-based Manjushree Technopack Ltd said on Thursday it has acquired Delhi-headquartered packaging firm Varahi Ltd for an undisclosed amount to increase its production capacity and client base.

Tata group firm Rallis to increase stake in Zero Waste Agro-Organics

November 23, 2016 | PTI

Tata group's agro-chemical firm Rallis India will acquire an additional 26.37 per cent stake in its arm Zero Waste Agro-Organics for nearly Rs 20 crore, making the company a wholly-owned subsidiary.

Exclusive: Fairfax-backed Sanmar close to acquiring a chemical plant down South

November 17, 2016 | Bruhadeeswaran R

Chennai-based Sanmar Group, backed by Fairfax India Holdings Corporation, part of India-born Canadian billionaire Prem Watsa's Fairfax Group, is in an advanced stage of discussions for acquiring chemical plants in a neighbouring state, a person familiar with the development told VCCircle.

LafargeHolcim ups stake in ACC, Ambuja Cements for $320 mn

November 15, 2016 | TEAM VCC

LafargeHolcim, the largest cement producer in the world and the second-largest in India behind UltraTech Cement Ltd, has raised its holding in its two flagship local companies—ACC Ltd and Ambuja Cements Ltd—for around Rs 2,149 crore ($320 million).

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