COMMODITIES

Bids for Tata Steel UK business set to be finalised

May 23, 2016 | PTI

Formal bids for Tata Steel's loss making UK assets are set to be finalised on Monday, with a shortlist being drawn up in next few days and UK business secretary Sajid Javid set to fly out to Mumbai to hold talks with the Indian conglomerate to discuss the final bids.

BP sells 11.5% stake in Castrol India for $308 mn

May 19, 2016 | TEAM VCC

British energy giant BP Plc's wholly owned unit Castrol Ltd on Thursday sold an 11.5% stake in its Indian lubricants subsidiary for about Rs 2,075 crore ($308 million) to investors including Singapore sovereign wealth fund GIC.

Tata Steel drops plan to merge two subsidiaries with itself

May 17, 2016 | Anuradha Verma

Tata Steel Ltd has decided to drop its plan to merge subsidiaries Tata Metaliks Ltd and Tata Metaliks DI Pipes Ltd with itself, as per a stock market disclosure.

Railways to appoint senior officials as key customer managers

May 12, 2016 | Anisha Dutta

As part of the exercise undertaken by the Indian Railways to improve freight revenue, key customer managers will shortly be appointed to cater to large customers such as public sector units, ministries and individual firms, said a top Railway Board official.

Govt notifies draft rules for transfer of mines, seeks comments till 25 May

May 12, 2016 | Deepak Kumar Sahu

The government on Wednesday notified draft rules for transfer of captive mine leases in the event of ownership changing hands.

India misses mineral drilling targets for FY16

May 11, 2016 | Deepak Kumar Sahu

Despite efforts to increase the country’s mineral production, India has failed to achieve mineral exploration targets for financial year 2015-16 in terms of drilling.

Railways to charge uniform freight charges for domestic iron ore consumption and exports

May 10, 2016 | Deepak Kumar Sahu & Anisha Dutta

In an attempt to boost iron ore exports, the Indian Railways has decided to withdraw the dual freight policy for transportation of the mineral and pellets.

India’s mineral production up 9% for FY16, value down by 11%

May 10, 2016 | Deepak Kumar Sahu

Despite the rout in commodity prices globally, India’s mineral production for financial year 2015-16 increased by 9% to 495 million tonnes (MT).

7 bids for Tata Steel’s UK business proceed to the next stage

May 09, 2016 | Deepak Kumar Sahu

Looking to offload its loss-making UK business, Tata Steel Europe on Monday said that it has considered seven expressions of interest which have been taken forward to the next stage of the sale process.

Mangalore Chemicals’ investments in UB Group firms under scanner

May 06, 2016 | PTI

In fresh troubles for embattled businessman Vijay Mallya, a forensic audit has found possible 'irregularities and mismanagement' in advances and investments made by Mangalore Chemicals and Fertilizers to his other group companies.

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