Tata Steel said that it has completed the acquisition of 93.71 per cent in Neelachal Ispat Nigam Limited (NINL) through its listed step-down subsidiary, Tata Steel Long Products (TSLP). On January 31, TSLP was declared...
Neelachal Ispat acquisition crucial for Tata Steel growth path: Official
Describing winning the bid for acquiring a majority stake in Odisha-based Neelachal Ispat Nigam Ltd (NINL) as “crucial” for the company’s growth trajectory, Tata Steel said it provides enablers to go...
Tata Steel Long Products acquires NINL for Rs 12,100 cr
Tata Steel Long Products has won the bid to acquire Neelachal Ispat Nigam Ltd (NINL) for around Rs 12,100 crore at a time when the steel sector is going through an upturn. NINL’s capacity of 1.1 million tonnes can be...
Strategic sale of Neelachal Ispat Nigam likely in two months
The Centre is aiming to complete strategic disinvestment of 100% stake in Odisha-based Neelachal Ispat Nigam (NINL), jointly owned by four central PSUs and two Odisha government PSUs, in a couple of months, sources told...
Tata Steel interested in acquiring Vizag-based RINL: CEO T V Narendran
Domestic steel giant Tata Steel is interested in acquiring state-owned Rashtriya Ispat Nigam Limited (RINL), the company’s Chief Executive Officer (CEO) and Managing Director T V Narendran said. RINL, under the...
Top steelmakers shortlisted for acquiring Neelachal Ispat
ArcelorMittal, the world’s largest steel company, Sajjan Jindal-led JSW Steel, Hyderabad-based Megha Engineering and Infrastructure Ltd (Meil) and Tata Steel are among firms that have been shortlisted for buying...
Govt to sell stakes in Bhel, 2 others next
India may consider Bharat Heavy Electricals Ltd (Bhel), Mecon Ltd and Andrew Yule and Co. Ltd among candidates for the next round of disinvestment pick, said two people aware of the development, requesting anonymity...
Tata Steel evinces interest in assets of Odisha-based NINL
Tata Steel on Tuesday evinced its interest for acquiring stake in Odisha-based steel maker Neelachal Ispat Nigam Ltd (NINL). NINL is a joint venture company, in which four central PSUs — MMTC, National Mineral...
‘Cabinet approved disinvestment of stake in NINL, not NMDC’
NMDC Chairman and Managing Director N Brijendra Kumar on Friday said that the Union Cabinet has approved disinvestment of stake of six public sector units (PSUs) in Neelachal Ispat Nigam Ltd, and not that of NMDC...
Cabinet gives in-principle nod to strategic sale of Neelachal Ispat
The government on Wednesday in-principle approved strategic sale of Neelachal Ispat Nigam Ltd (NINL) by allowing six PSUshareholders to sell their stake in the steel company. A decision in this regard was taken in the...
Steel executives’ guild urges PM Modi for ‘hassle-free’ SAIL-NINL merger
Neelachal Ispat Nigam Ltd (NINL) which is in the dumps following its lead promoter MMTC’s decision to exit the public sector steel unit, has elicited support from a confederation of steel executives. Kolkata-based...
Supreme Court stays Mack Soft insolvency; ED probes money laundering
The Supreme Court has stayed insolvency proceedings at Mack Soft Tech, an Indian subsidiary of Irish business group Quinn that owns Q-City, an IT park in Hyderabad housing offices of Amazon, Mytrah Energy and TCS, among...