You are here: Home >> English News & Features >> Top News

Steel firms playing ‘Monopoly’, passing on cost to consumers

DNDEL10365 | 10/11/2017 | Author : Dipu Rai | WC :449 | Business & Economy

  • Packaged Content
  • Steel firms playing ‘Monopoly’, passing on cost to consumers
    Steel firms playing ‘Monopoly’, passing on cost to consumers

  • Note: Buying this story will also give you the same reproduction rights for these images, without any additional cost.

High NPAs burden, yet big firms gobbling up debt-ridden smaller players
DNA INVESTIGATION
The steel sector in India often twists the natural order of demand and supply. Defying economic logic, five hugely debt-struck steel companies -- owing Rs 1.4 lakh crore to banks and facing insolvency proceedings -- are being eyed by dominant players in the steel sector. The five companies are Bhushan Steel, Essar Steel, Monnet Ispat, Bhushan Power and Steel and Electrosteel Steels. Sources said, these are likely to be sold to dominant players – thereby further strengthening the monopolization of the steel sector in India.
Rohit Sadaka, an analyst with India Ratings & Research, said, “Consolidation in Indian steel industry is likely as large companies may look to acquire stressed asset for expansion -- which may lead to further le
Read full story


Copyright restricted. Under license from www.dnasyndication.com   
Add To Lightbox
Calculate Price

More on Top News

Cong has partners outside India: PM
DNDEL22746 | 9/26/2018 12:00:00 AM | Author : DNA Correspondent | WC :243

Bhopal: Prime Minister Narendra Modi on Tuesday slammed the main Opposition Congress over its onslaught on the Rafale fighter jet deal, saying it was looking for alliance partners outside the country. “The Congress has lost its mental balance after l
Add To LightboxCalculate Price

Omar aide quits NC, to contest civic polls
DNDEL22747 | 9/26/2018 12:00:00 AM | Author : Ishfaq-ul-Hassan | WC :443

Srinagar: J&K’s Opposition National Conference suffered a major setback on Tuesday when its state spokesman and former CM Omar Abdullah’s close aide Junaid Azim Mattu resigned from the party and decided to contest the urban local bodies (ULB) ele
Add To LightboxCalculate Price

Can Aadhaar be forced upon? SC to spell it out
DNDEL22748 | 9/26/2018 12:00:00 AM | Author : DNA Correspondent | WC :739

New Delhi: With Aadhaar set to unlock the dream of achieving ‘one-nation-one-identity’, much is at stake for the Centre, state governments, banks, mobile phone companies, government departments, and associated public service agencies as the Suprem

Add To LightboxCalculate Price

SC asks Parliament to act against its criminal netas
DNMUM422944 | 9/26/2018 12:00:00 AM | Author : Abraham Thomas | WC :839

New Delhi: ‘Unsettled’ by the number of politicians facing serious criminal charges, the Supreme Court on Tuesday asked Parliament to urgently consider bringing a law to bar such persons from entering public life. Currently, upon conviction by
Add To LightboxCalculate Price