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Vedanta Iron & Steel shares skyrocket 89% in 12 days since listing. What’s fuelling the surge?
Vedanta Iron and Steel shares have surged an impressive 89% since their June debut, adding nearly Rs 7,000 crore to its market value. This remarkable rally was significantly boosted after Azim Premji's investment arm acquired shares worth Rs 102 crore. The company, involved in iron ore and steel production across India and Africa, is currently clarifying significant price movements with stock exchanges.
Vedanta Iron and Steel shares in focus after a 9% rally on Tuesday; what you need to know - Upstox
Vedanta Iron and Steel shares in focus after a 9% rally on Tuesday; what you need to knowUpstox
Tata Steel Share Price Live Updates: Tata Steel's weekly performance shows a drop
AM/NS takes over banks' claims linked to Essar Group promoters' personal guarantees
"Banks had claims attached to the personal guarantees issued by the Essar promoters which was linked to the Essar Steel resolution. AM/NS' plan had made specific provisions to pay off these liabilities too, but there were some legal issues which are now resolved, allowing banks and AM/NS to complete this deal," said a person familiar with the details.
AM/NS takes over banks' claims linked to Essar Group promoters' personal guarantees
"Banks had claims attached to the personal guarantees issued by the Essar promoters which was linked to the Essar Steel resolution. AM/NS' plan had made specific provisions to pay off these liabilities too, but there were some legal issues which are now resolved, allowing banks and AM/NS to complete this deal," said a person familiar with the details.
Japan's JFE Steel completes ₹15,750 crore investment in JSW Steel JV
Japan's JFE Steel has completed its ₹15,750 crore investment in JSW JFE Kalinga, acquiring a 50% stake through the second tranche of the transaction and formalising joint ownership of the steel venture.
Vedanta Iron & Steel zooms 10%, up 70% since listing; time to book profit?
Vedanta Iron and Steel shares listed at ₹20 on the NSE and ₹22.25 on the BSE on June 15. It was one of the four companies demerged from Vedanta Limited and listed as a separate entity.
Vedanta Iron & Steel shares extend winning streak, surge 10%; stock up 70% since listing
Vedanta Iron & Steel shares jumped, extending an 11-day winning streak and taking total gains to over 70% since listing earlier this month. The stock debuted at Rs 20 following Vedanta Group’s demerger and has nearly doubled its market cap to about Rs 13,941 crore from Rs 7,821 crore.
Tata Steel Share Price Live Updates: Tata Steel Volume Analysis
JSW Steel Share Price Live Updates: JSW Steel's market engagement metrics
Stainless steel industry seeks end to QCO relief from July 1
Domestic stainless steel makers are pressing the government to reinstate quality control norms from July 1, warning that a temporary QCO relaxation has fueled a flood of cheap imports. The Indian Stainless Seamlesspipes Manufacturers Association highlights that this influx, coupled with alleged anti-dumping duty circumvention, has crippled industry capacity to below 50%, jeopardizing local manufacturers. They urge immediate QCO restoration to curb substandard goods.
VMS TMT board clears AUSL merger with company
VMS TMT has announced its board has approved the merger with TMT bars maker Aditya Ultra Steel Ltd (AUSL). This strategic amalgamation aims to create a robust entity by combining manufacturing, distribution, and financial strengths. Shareholders of AUSL will receive 75 VMS TMT shares for every 100 held. The combined company anticipates a significant boost in manufacturing capacity and operational efficiencies.