Steel Dynamics Q1 net income jumps to $403 million Nuvama downgrades Jindal Steel to Reduce Rebar and input costs remain on radar High speed steel market seen growing at 3.33% CAGR
India’s state-run Steel Authority of India Ltd. (SAIL) has received temporary relief after the Madras High Court put an antitrust investigation against the company on hold.The case is linked to a wider Competition Commission of India (CCI) probe into alleged price coordination and production cuts in the steel sector. The investigation reportedly involved several major steel companies, including SAIL, Tata Steel, JSW Steel and RINL.
SAIL challenged the proceedings, arguing that it had already been cleared in an earlier investigation report and that a supplementary probe raised fresh concerns without proper notice. The company claimed this violated principles of natural justice.The court’s order temporarily shields SAIL from further investigation while the matter remains under legal review. The next hearing is expected on June 10.
The development is significant for India’s steel industry, as the antitrust case is among the most closely watched regulatory matters in the sector. Market participants will be watching how the case progresses and whether it impacts broader scrutiny of steel pricing practices.
Also Read : Turkey Slaps Five-Year Anti-Dumping Duties on South Korean Steel Imports ISSDA Demands Action as Cheap Imports Threaten Domestic Steel Players
Sterlite Power declared that it has completed the refinancing of its credit for the Lakadia-Vadodara...
Large Corporate 15-Feb-2024
China has increased its purchase of scrap copper as smelters look alternative raw materials to offse...
China 21-Jun-2024
Tata Passenger Electric Mobility has collaborated with Hindustan Petroleum Corporation Ltd to establ...
Large Corporate 27-Mar-2024
Tata Power Renewable Energy Limited has completed the installation of a cutting-edge 1040 kW Bifacia...
Large Corporate 29-Jan-2024
Prime Minister Narendra Modi will virtually lay the foundation stone for the 300 MW Solar Power Plan...
Press Releases 16-Feb-2024
Tata Power Solar Systems Limited’s shares increases 0.20% after the company reportedly facilit...
Large Corporate 02-Feb-2024