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Ukraine crisis: Tata Steel seeks alternative to Russian coal

Tata Steel Ltd is looking at alternative markets for imports of coal as it faces uncertainties with its Russian suppliers and bankers, amid the RussiaUkraine conflict, a company officialsaid on Saturday.

The geopolitical situation after Russia's invasion of Ukraine has also opened up steel export opportunities in Europe, following a supply vacuum of 45 million tonne of the metal left by Russia and Ukraine in the continent, Tata Steel Managing Director T V Narendran said.

Tata Steel will look at alternative markets for coal imports to de-risk. There is a lot of uncertainties with Russian suppliers and bankers at present, Narendran said on the sidelines of CII eastern region's annual meeting here. The steelmaker used to buy 10-15 per cent of its coal requirements from Russia for use in pulverised coal injection, he said.

Engineering firm Braithwaite plans Rs 50 cr capex for container biz

Engineering firm Braithwaite & Co Ltd has earmarked Rs 50 crore as capital expenditure (capex) for taking up container manufacturing in a big way, a company officialsaid on Sunday.

The Miniratna public sector undertaking has forayed into the manufacturing segment as the country is focusing on indigenous production of containers and reducing dependence on China for such goods carriers.

Byju's CEOraising $400 mn loan to invest in edtech giant's $800 mn round

Byju Raveendran, founder and CEO of Byju’s is in talks with various international and domestic banks to raise $400 million as a loan to fund 50 per cent of the $800 million (about Rs 6,000 crore) funding round of the edtech giant, according to people familiar with the development. They said this move is part of the company’s strategy to show the founder's confidence in the firm as he is leading the round and help shore up investor interest at a time when the valuations are understress globally.

Sumeru Ventures, Vitruvian Partners, and BlackRock also participated in this $800 million round, taking the Bengaluru-based company’s valuation to about $22 billion from $18 billion earlier, according to people familiar with the matter.

Adani, KKR, Piramal among 14 prominent bidders for Reliance Capital

Adani Finserve, KKR, Piramal Finance and Poonawala Finance are among the 14 prominent firms that have expressed interest to acquire debt-ridden Reliance Capital Ltd, promoted by the Anil Ambani Group, sources said. The last date for submission of bids for the debt-ridden firm was extended to March 25 from the previous fixed date of March 11 by the Reserve Bankappointed administrator.

The Reserve Bank of India (RBI) had on November 29 last year superseded the board of Reliance Capital Ltd (RCL) in view of payment defaults and serious governance issues

GAIL announces interim dividend of Rs 5 per share for FY22

Natural gas producer and distributor GAIL has announced a second interim dividend of Rs 5 per share) for the fiscal year FY22. For the approved dividend, the record date is March 22, the filing said.

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