Post 2008 financial meltdown, although steel stocks made a smart recovery the very next year, riding on liquidity infusion by global central banks, the lack of recovery in global steel demand coupled with a slowdown in the domestic economy, where the GDP growth rate has fallen from 9.3 per cent in FY11 to 5 per cent (advance estimates for FY13), has soured sentiments at the steel counters.
Undeterred by India’s pitching for a rating upgrade, global credit rating agency Standard and Poor’s on Friday reaffirmed its long-term negative outlook, a notch above junk, and warned that it may lower the rating if reforms slow down.
Oil and Natural Gas Corporation (ONGC) wants to promote shale gas as a substitute energy resource.
ITC, Asia’s second-biggest tobacco company by market value, on Friday reported a 19.4 per cent growth in net profit to Rs 1,928 crore for the fourth quarter ended March 31.
Tata Steel may find it difficult to raise funds in the near future because of a big hit on its profit and loss (P&L) account for the year ended March.
Not very long ago India’s men of steel were scouring the world for mills in trouble, picking up cheap a plant here and another there. What a change has
When a star like Angelina Jolie does something as drastic as this the world is struck with shock and awe. Shock because she has undergone a double mastectomy
Many leading US colleges and universities face a shortfall in enrollment for fall classes and will offer price discounts as they compete for students in an ever expanding higher education
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