Steel Sector

Areva T&D Shares Climb Up On Essar Steel Order

Areva T&D India Ltd.Mumbai: Areva T&D India shares benefited on Friday after the power equipment company got an Rs 63 crore order from Essar Steel Ltd.

In early trading (11.45 am), the stock brought in Rs 21.35 or 1.50 per cent at Rs 1,433 on the Bombay Stock Exchange (BSE).

Steel Ministry Urges To Increase RSP Production Capacity

Rourkela: Steel employees' association, Rourkela (SEAR) has urged the union Steel organization to raise the yearly production capacity of Rourkela Steel Plant (RSP) from the existing two million to

VISA Steel Enters JV With Baosteel

Baosteel GroupKolkata: Visa Steel has entered into a joint venture contract with China’s Baosteel Trading and VISA Comtrade of Switzerland for establishing a 1 lakh tonne-per-annum ferro chrome facility in Orissa.

The joint venture company will be named ‘VISA BAO,’ in which VISA Steel will hold a 51% stake, while Baosteel Trading and VISA Comtrade will hold 35% and 14% stakes, correspondingly.

Tata Steel Looks Optimistic For Long-Run

TataAccording to technical analyst, Rajat K Bose Tata Steel is the best stock to reap gains in the long-run. The stock will burst after 9-10 months, so it’s better to hold the stock to make higher profits.

Bose told, “The base metals or steel are looking very weak. I was checking the LME base metals charts, alluminium, teen, copper, zinc, they are all looking pretty bad. Some of them have actually gone below 200-day; alluminium has done that recently and has given a sell signal.”

Tata Steel Witnessing a Sharp Fall

Tata SteelToday, Tata Steel is hovering near 606, down Rs 35.2, or 5.49% in morning trades.

SAIL In Strategic Alliance With Korean Steel Maker POSCO

Steel Authority of IndiaNew Delhi: The state-owned Steel Authority of India Ltd (SAIL) signed up a contract with Korean steel manufacturer POSCO to set up a strategic alliance for aligning and collaborating with one another in a broad range of strategic business and profitable arenas.