Aiming to facilitate commercial operations at Rourkela Airport in Odisha under the RCS UDAN scheme, the Steel Authority of India Limited (SAIL) and the Airport Authority of India (AAI), signed an Operation and Management (O&M) agreement on Friday.
SAIL, in 2018, had signed an MoU for the use of its own airport, under the UDAN scheme, for the operation of commercial flights.
Now, SAIL has signed the O&M contract with AAI, through its Rourkela Steel Plant, to facilitate the commen...
SAIL, AAI join hands to facilitate operations at Rourkela Airport
The government has received about Rs 604 crore, Rs 450 crore, and Rs 37 crore from SAIL, HUDCO, and IREL, respectively as dividend tranches, Secretary, Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey said.
In addition to this, the government has also received Rs 81 crore and Rs 31 crore from IRCTC and Bhartiya Rail Bijlee Company Ltd respectively as dividend tranches, he said in a series of tweets.
DIPAM deals with all matters relating to management of C...
Government receives Rs 604 crore dividend from SAIL
SAIL Q4 net slips 29% to Rs 2,479 cr, firm declares dividend of Rs 2.25
State-owned Steel Authority of India on Monday reported 29% decline in consolidated net profit at Rs 2,479 crore for the quarter ending March 31, 2022. It reported consolidated net profit of Rs 3,470 crore in the year-ago period. However, on sequential terms, the company's net profit rose 62% in Q4FY22.
SAIL's consolidated revenue from operations rose 32% to Rs 30,759 crore as against Rs 23,285 crore in Q4FY...
Key News - Steel Authority of India, RITES Ltd, InterGlobe Aviation, Momenta Pharma, Hindustan Zinc By ARETE Securities
Key News
Adanis commit $75 million in Borouge's $2-billion IPO, says report
The Adani family has committed $75 million towards the $2-billion initial public offering of Borouge, set to be the biggest ever listing in the emirate. Seven cornerstone investors have agreed to subscribe for $570 million worth of shares in the IPO, including the Adani family, Abu Dhabi wealth fund ADQ, which will buy shares worth $120 million, and Alpha Dhabi Holding, which has committed $100 million.
...
Key News - Adani Group, Indian Hotels Co Ltd, Steel Authority of India Ltd, Zomato, Oil and Natural Gas Corporation Ltd By ARETE Securities
Key News
SAIL to double capacity to 50 mn tonnes by 2030, starts land bank study
Public sector steel major, Steel Authority of India Limited (SAIL), is looking to more than double capacity to 50 million tonnes (mt) by 2030. In a letter to shareholders, Soma Mondal, chairman, SAIL, said, “In line with the National Steel Policy 2017, your company has formulated its Vision 2030, whereby it is envisaged to enhance the crude steel capacity to 50 mt.” She also mentioned that the ...
Key News - Steel Authority of India Ltd, Jindal Steel Power Ltd, SBI Life Insurance Company Ltd, Hero MotoCorp Ltd, Century Plyboards Ltd, Air India By ARETE Securities
Key News
KEC International to double civil business revenue to Rs 2,000 cr in FY22
With strong visibility for metro projects and government spending, KEC International is looking to double its civil business segment to Rs 2,000 crore in FY22. “We have six metro projects with us along with large water pipeline projects and construction orders from airports, oil&gas and data centers sections which assures us of doubling of topline this fiscal,” Vimal Kejriwal, managing dir...
Key News - KEC International Ltd, Phillips Carbon Black Ltd, Bharti Airtel Ltd, Steel Authority of India Ltd, Nazara Technologies Ltd, Marico Ltd By ARETE Securities
Key News
SAIL aims to bring down borrowings to Rs 20,000 crore
Public sector steel major, Steel Authority of India Ltd (SAIL), is looking at bringing down its borrowings to Rs 20,000 crore by the end of the current financial year. Soma Mondal, chairman SAIL, said that by year-end the aim is to reduce total borrowings at a level of Rs 20,000 crore depending on steel prices and demand situation. She was speaking on the sidelines of an event to mark the inauguration of MSTC’s corpora...
Key News - Steel Authority of India Ltd, Megha Engineering and Infrastructure Ltd, Amazon, Afcons infrastructure Ltd, BSNL By ARETE Securities
Key News
SAIL returns to black; posts Rs 3,897-cr net profit for June quarter
Domestic steel major SAIL on Friday returned to the black, posting a consolidated net profit of Rs 3,897.36 crore for the June 2021 quarter. The company had posted a Rs 1,226.47-crore net loss in the year-ago quarter, Steel Authority of India Ltd (SAIL) said in a BSE filing. Its net income during April-June 2021 more than doubled to Rs 20,754.75 crore, compared with Rs 9,346.21 crore in the year-ago period. To...
Key News - Steel Authority of India Ltd, BSE , Hindalco Industries Ltd, JK Tyre & Industries Ltd, Divi's Laboratories Ltd, Bank of Baroda By ARETE Securities