Page 2 - Usha Martin

Usha Martin buy to improve Tata Steel's product portfolio, says S&P report

Tata Steel has a disproportionate skew towards flat steel products now while Usha Martin has an integrated steel-making business with predominantly long steel products which get better margins

Usha Martin deal expected to be positive for Tata Steel's earnings growth

Margins of acquired assets should improve; gains not at the cost of high leverage

Basant-Prashant Jhawar faction opposed Tata Steel-Usha Martin deal

Informed sources said the resolution would be finally placed before the shareholders for approval

Usha Martin rallies after bidders express interest in buying co's steel biz

The five - JSW Steel, Tata Steel, Liberty House, Kalyani and Vedanta - have signed non-disclosure agreements (NDAs) in this regard, while they do their due-diligence.

From JSW to Liberty House, five bidders for Usha Martin's steel business

Usha Martin has a one-million tonne a year unit at Jamshedpur

JSW, Liberty House and Tata likely to bid for Usha Martin steel business

Bids are expected to be invited this month

Usha Martin aims to sell its steel business by FY19 to pare debt

Sources said at least five companies have evinced interest to buy the steel assets

Usha Martin surges 45% in three days after Tata Steel joins race to buy it

The stock is locked in upper circuit of 20% at Rs 28.90, has rallied 45% from Rs 19.95 on June 5, as compared to 1.2% rise in the S&P BSE Sensex.

Usha Martin hits 52-week high as board approves sale of steel business

The stock hit a 52-week high of Rs 33, up 12% on the BSE, rallied 65% in one week as compared to 1.8% rise in the S&P BSE Sensex.

Usha Martin plans to sell steel biz, sets up committee to oversee process

Usha Martin was earlier looking to sell its wire and wire ropes business, but a change in market conditions prompted the company to look at the sale of the steel business

Sale of steel business: Usha Martin board may discuss Tata, JSW offers

Usha Martin was actively looking at selling its wire and wire ropes business but a change in market conditions for the steel sector prompted it to look at the sale of that business

Enforcement Directorate, SFIO lens on Rs 54-bn loans to Usha Martin group

Usha Martin's long-term issuer rating has slipped to IND BB+ and the enterprise placed on "Rating Watch Negative"

Usha Martin's Rajeev Jhawar open to family settlement

Usha Martin has been at the receiving end of the family war that broke out about a couple of years back.

Illegal land acquisition? Usha Martin taken to SC for Kathautia coal block

Kolkata-based wire rope manufacturer Usha Martin has been dragged to the Supreme Court for alleged irregularities in land acquisition in Jharkhand. The apex court has issued notices to the company and other respondents including the state government on a special leave petition challenging an order by the Jharkhand High Court. The matter pertains to alleged illegal acquisition of forest land around the Kathautia coal block in Palamau district. The block was originally allotted in 2003 to Usha Martin, which had begun operating mines there before the hundreds of allocations across the country was cancelled by the Supreme Court in 2014 on allegation of corruption. The mine has since been reallocated to Hindalco through e-auction. After a late October hearing, the court posted it for third week of November."We are contesting the case. Since the matter is subjudice, we would not like to comment further," a senior Usha Martin executive said. Company sources added the allegations do not ..

Usha Martin board maintains shareholding status quo till NCLT's hearing

Both Rajeev Jhawar and Prashant Jhawar holds 25 per cent each in Usha Martin

Prashant Jhawar: Caught in Usha Martin's power struggle

Prashant got ousted as non-executive chairman of Usha Martin by the board earlier this week

Here's what led to a standoff at Usha Martin's board

The proposed sale of the wire ropes division of Usha Martin that partly caused non-executive chairman Prashant Jhawar his job was, ironically, mooted by him in 2016.Jhawar, however, had valued the division at Rs 1,350 crore, lower than the Rs 2,000-2,500 crore discussed by investment banks. On Tuesday, when the board of directors at Usha Martin voted in favour of ousting Jhawar as non-executive chairman, on the basis of a written requisition from the nominee director of the State Bank of India (SBI), it was primarily on two grounds. One of these was the difference on the sale of the wire ropes division.Interestingly, however, the other promoter group, the Brij-Rajeev Jhawar faction, were on the same page as the lenders as far as sale of the wire ropes division was concerned. The other part that led to the extreme step by the lender was the pledge of shares by SBI. It had extended a term loan of Rs 290 crore and a corporate loan of Rs 900 crore to Usha Martin in 2015, on the basis ...

Will bring down debt; work towards best interest of firm: Usha Martin MD

Rajeev Jhawar abstained from voting on resolution for Prashant's removal during board meeting

Tension mounts in Usha Martin as board removes chairman

Independent non-executive director Ghyanendra Nath Bajpai will replace Jhawar

Steel woes may hit Usha Martin

High debts and big losses since 2014-15 have forced steel maker to sell its wire, wire rope business