Cracking its whip, the state pollution control board has imposed a fine of Rs 54, 000 on Bhushan Steel limited in Dhenkanal district for dumping its slurry illegally on open ground near a local village.
Sahara Group, ICICI Bank, Bhushan Steel, Bharti Realty, Red Fort Capital and Shri Lal Mahal are understood to be in the race among others to acquire Parsvnath Developers' 1.18 acre of prime commercial land near Connaught Place in the National Capital.
The Supreme Court today allowed the appeal of Bhushan Power & Steel Ltd and directed the Orissa government to act according to the memorandum of understanding (MoU) between the two, signed on May 15, 2002. Overruling the Orissa high court order, a
Bhushan Steel has put its proposed Rs 20,000 crore steel plant in West Bengal on hold, stonewalled by the Mamata Banerjee government's policy of not acquiring land for industry, a senior company official said.
Processed steelmaker Bhushan Steel has deferred plans to build a new plant and raise Rs 5,200 crore through a share issue because of problems acquiring land in West Bengal and weak financial markets, its finance director said.
The Orissa State Pollution Control Board (OSPCB) has sent closure notices to two Bhushan Group companies for their 10 sponge iron kilns on violation of pollution control norms.
Processed steelmaker Bhushan Steel expects higher interest cost and depreciation slow the pace of its profit growth to about a fifth this fiscal, lower than the expected sales growth, its chief financial officer said on Tuesday.
Bhushan Steel, the country’s third-largest producer of secondary steel (existing yearly capacity, two million tonnes; 2010 gross turnover, Rs 6,000 crore), has various expansion plans.
Ratings firm Fitch today said it has affirmed a low default risk on Bhushan Power & Steel Ltd (BPSL) long-term ratings, with a stable outlook on the back of the company's improved business profile and profitability.
Brij Bhushan Singhal, the chairman of the company, has also pledged 3.02% stake in the firm on March 7, the company said in a communique to the Bombay Stock Exchange (BSE).
The proposed merger between Nippon Steel Corp and Sumitomo Metal Industries, Japan's largest and third largest steel makers, is likely to have major ramifications for Indian companies.
The deal between Bhushan Steel and Japan's Sumitomo Metal Industries to jointly develop a six-million tonne steel unit in West Bengal has run into rough weather, with no agreement in sight on valuations even a year after both began negotiations.
Processed steelmaker Bhushan Steel expects its profit to grow by a quarter in 2010/11 on strong demand and improved margins due to backward integration, its chief financial officer said on Wednesday.
The company had clocked a net profit of Rs 189 crore in the second quarter of the previous fiscal, the company said in a filing to the Bombay Stock Exchange.
Bhushan Steel has moved up to a fresh all-time high at Rs 541, up 3%, on reports that Japan's third-largest steelmaker, Sumitomo Metal Industries, will acquire a 40% stake in one of the company's six-million tonne steel plant project in West Bengal.
Bhushan Steel is trading at lifetime high - up 16% at Rs 502 after the company placed an order worth of Rs 160 crore with Larsen and Toubro (L&T) subsidiary Metallurgical, Material Handling & Water Operating Company.
