 "Arundhati Bhattacharya, SBI")
State Bank of India (SBI) chairman asked promoters of highly indebted steel companies to bring in more capital on the table as investment to ensure better profile and reduce stress.
“Steel firms are working on very thin margins, leaving them with little room to face adverse events. They must have a robust business models with sufficient margins to provide cushion to absorb shocks as well as resources for research and development,” Bhattacharya said, addressing Centrum Broking’s steel industry conference on Wednesday.
Bhattacharya said many steel units were fraught with project delays and cost overruns. At the start of the project,
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