Category Archives: Metals

Jindal Saw received orders worth 1000 crore

Jindal Saw saw some sparkling rally today after it announced the market that the Company recently has received various orders aggregating to approx US$ 250 Million for supply of Spiral pipes / Longitudinal Submerged Arc Welded (LSAW) Pipes and Seamless pipes.With these orders, the Company’s present order book exceeds US$ 850 million. These orders are scheduled to be completed by January 2009.You do the math how the results would be for the copming year.

Steel Authority of India Ltd (SAIL) declares Quarter Results today

It showed a 70% raise in Net Profit ,The Company has posted a net profit after tax of Rs 19018.80 million for the quarter ended March 31, 2007 where as the same was at Rs 11032.00 million for the quarter ended March 31, 2006. Total (net of excise) is Rs 106238.70 million for the quarter ended March 31, 2007 where as the same was at Rs 91553.10 million for the quarter ended March 31, 2006.

Hindalco Industries buys Novelis for 6 Billion US dollar

Hindalco Industries Ltd has informed BSE that the Company and Novelis Inc. (NYSE: NVL) (TSX: NVL), the world’s leading producer of aluminum rolled products on February 11, 2007 has announced that they have entered into a definitive agreement for Hindalco to acquire Novelis in an all-cash transaction which values Novelis at approximately US$ 6 billion, including approximately US $ 2.40 billion of debt. Under the terms of the agreement, Novelis shareholders will receive US $ 44.93 in cash for each outstanding common share.