• Almost a year after it was first approved, JSW Steel inched closer to acquiring Vardhman Industries (VIL) in the insolvency driven process as the National Company Law Appellate Tribunal ruled in favour of the company.
  • Brick and cement industry in the district has been adversely affected due to poor sand supply by the government. Sale of bricks and cement has declined in the past three months owing to restrictions on sand transportation and the decrease in the business is roughly estimated at Rs 200 crore in the district.
  • Bari Brahmana Industries Association (BBIA) held a meeting to discuss the issue of ban imposed on the extraction of sand & bajri due to which the Micro, Small and Medium Units (MSMEs) units engaged in the manufacturing of cement tiles and other related products facing acute problem and are on the verge of closure.
  • Sales of construction equipment seem to have bottomed out after a 25% drop in the first half of the fiscal, with a revival in government projects, especially in the southern states. Construction equipment include machines used for earth moving, road building, handling concrete, material handling, and material processing, among other special equipment.
  • Apart from a revival in government infrastructure projects, an improvement in financing from non-banking financial companies (NBFCs) is pushing sales, said Ravi Chawla, managing director at Gulf Oil Lubricants
  • As many as 373 infrastructure projects, each worth Rs 150 crore or more, are hit by cost overruns of more than Rs 3.89 lakh crore owing to delays and other reasons, according to a report.
  • Independent power producers will now be allowed to use contracted fuel supply from Coal India at any plant run by the same group, a senior executive said
  • This is expected to reduce the cost of power generation making them more competitive because if a power company has separate fuel supply agreement for each plant, it can transfer coal from one plant to another. This would also reduce transport cost and take the load off railways during peak season.