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More steel majors cut prices
A DAY after Tata Steel announced a price cut of Rs 2,000 per tonne on all products, Steel Authority of India Ltd (SAIL) and other leading steel majors on Monday announced a cut in prices.. The reductions range from Rs 500-1,000 a tonne. SAIL ...
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What led to the rollback
WHAT led to the sudden roll back in steel prices in the domestic market that defied the principles of market economy? That was the question that intrigued many throughout Monday. Informed sources here told Business Line that it was a ...
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Lower prices to stay till March 2005: Tata Steel
THE Rs 2,000-per tonne reduction in steel prices announced by Tata Steel on Sunday will be in force up to March 31, 2005, regardless of any likely rise in input cost, Mr B. Muthuraman, Managing Director of the company, today said. Terming the ...
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Hindalco finalises merger of Indal units with itself
HINDALCO Industries Ltd, an Aditya Birla Group company, today announced plans to merge all but one business of its subsidiary, Indian Aluminium Company Ltd (Indal), with itself. The companies have decided on a share swap ratio of one share of ...
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Little incentive to keep Indal separate
EVEN as late as in early July, the Vice-Chairman of Indian Aluminium Company (Indal) had ruled out the possibility of a merger between Hindalco Industries and Indal in the immediate future. He, however, came up with a tantalising caveat that ...
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Market stabilisation scheme turning costlier
CALL it an unintended outcome but one thing that the current round of inflation is doing is to jack up the Government's cost of "sterilisation" or mopping up of excess liquidity from the market. Under the Market Stabilisation Scheme (MSS) in ...
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`Borrowings well on schedule'
Both the Finance Ministry and Reserve Bank of India (RBI) officials have denied that the market stabilisation scheme (MSS) has led to a "crowding-out" of the Government's regular market borrowings programme. During 2004-05, the Government's ...
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FLAG withdraws plaint against VSNL's US foray
FLAG Telecom has withdrawn its complaint to the Federal Communications Commission (FCC) against Videsh Sanchar Nigam Ltd's proposed entry into the US telecom services market. The US-based company, which was recently acquired by Reliance, had ...
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Competition Act changes may dilute panel's powers
THE logjam on provisions of the Competition Law may end soon. The Government has decided to suitably amend the Competition Act to enable smooth implementation of the Act. Among the provisions likely to be amended include the one on execution ...
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`Low-cost airlines no threat to Rlys'
THE Railways is unfazed by the moves of some airlines to offer dirt-cheap fares across select routes. According to the Railway Board Chairman, Mr R.K. Singh, the low-fare offerings by airlines would not wean away the Railways' high-end ...
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Truckers' strike to continue
NEGOTIATIONS between the Government and the striking truck operators and owners to resolve the three-day old agitation failed to achieve any tangible results on Monday. With the Government not yielding to their demand for withdrawal of service ...
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Steel majors' move fails to cut ice in bourses
THE markets began the week on a negative note, as rising inflation continues to haunt investors. Even as steel majors announced price cuts to temper the rise, market players reacted by selling steel stocks. The stocks of index heavyweights ...
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