Cs Verma

CS Verma steps down as SAIL CMD; Steel Secy takes charge

CS Verma was appointed CMD of the country's largest steel producer for a 5-year term in June 2010 by the pCrevious UPA government, and was eligible for an extension till he attained the superannuation age of 60 years in September 2019.

Bright future for steel industry: SAIL chief

Though India's per capita consumption has increased from 29 kg in 2000 to 59 Kg in 2012-13, in rural areas, home to around 70 percent of the population, per capita consumption is approximately one-fifth of the national average at 12 Kg.

Steel sector may witness temporary over-supply: SAIL

During the April-February period of the current fiscal, India's steel consumption expanded by just 0.7 percent to 67.253 million tonnes (MT) over the same period last fiscal, mainly due to slow economic growth.

Good times ahead for iron ore, steel cos: NMDC's Verma

NMDC increased its iron ore prices by Rs 100 per tonne from February 1 and the iron ore fine prices now stand at Rs 2,910 per tonne.

Can SUUTI stake sale fix fiscal deficit?

In a detailed discussion, former finance secretary, S Narayan along with CS Verma, chairman and managing director, NMDC and Anil Singhvi, ICAN Investments share their views on the government‘s attempts to rein in the fiscal deficit at 4.8 percent.

On track to achieve FY14 sales target of 28 MT: NMDC

With the iron prices have now starting to firm up CS Verma, Chairman, NMDC does not expect pressure on margins going ahead.

Demand up despite price rise, worst over for steel: SAIL

CS Verma, chairman, SAIL, says increase in steel prices were in line with increase in international prices.

NMDC Q1 beats forecast but net slumps 17.5% to Rs 1,572 cr

NMDC's iron ore lumps (higher grade iron ore) average sales realisation was Rs 5,184 per tonne. "We have cut iron ore lump rate by Rs 200 to Rs 4,200/tonne for August," Verma said.

Govt's $1 trn budget on infra to boost steel demand: SAIL

In an interview to CNBC-TV18, CS Verma, Chairman, SAIL spoke about reports that suggests steel demand and prices are under immense pressure.

Expect no price hike in June: NMDC's Verma

State-run NMDC will not hike price in June. Currently the price of fines stands at Rs 2,610 a tonne and the price of lumps at Rs 4,600 a tonne

Domestic demand will pick up post sluggish phase: SAIL

In an interview to CNBC-TV18, Verma said that steel demand will pick up in domestic market. He also informed that net steel import into India stood at 2.5 million tonnes in the first eleven months of FY13.

SAIL marginally down after OFS issue opens

SAIL shares are marginally down afterits offer-for-sale (OFS) issue opened at 9:15 am today. The floor price of the issue is fixed at Rs 63/share and the government will divest over 5 percent stake in the company to mop up around Rs 1,500 crore. The remaining 5 percent will be auctioned in FY14.

Why has govt trimmed size of SAIL share offer?

SAIL‘s offer-for-sale (OFS) issue will hit the market tomorrow, and surprisingly the government which was to offload over 10 percent in the company, has now decided to auction smaller stake and is keen to sell the remaining portion in FY14.

SAIL OFS to hit market on March 22, stock up

The divestment secretary has confirmed about the Empowered Group of Ministers (EGoM) approving SAIL's offer-on-sale issue which will hit the market on March 22, say sources.

Expect SAIL to complete divestment by FY13: CS Verma

Steel Authority of India (SAIL) expects its divestment programme to be completed by FY13 itself. Currently, the government holds 85.82 percent in the company and it will divest around 10.82 percent.

Will meet in March to decide whether to hike prices: NMDC

Country's top iron ore producer NMDC‘s net sales was down 13.46 percent to Rs 7,500.02 crore. The company‘s chairman, CS Verma blamed it on Bailadila region's broken pipline. They were selling about seven to eight million tonnes of iron ore through it and since last one year they could not get any advantage of it.

Iron price dynamic; see India's steel demand rising: NMDC

CS Verma, Chairman of SAIL and NMDC said iron ore pricing is dynamic in nature and the pricing policy is governed by the board taking into consideration the prevailing market condition, market prices and the demand/supply position.

Tata, SAIL differ on need for steel-making equipment plant

Tata Steel, India's second largest private steel marker, has differed with state-run SAIL on the need for setting up an equipment manufacturing facility in the country saying enough capacity is lying outside to be sourced from.

ICVL to rejig if Coal India exits: SAIL

SAIL will have to restructure International Coal Ventures Limited or ICVL if Coal India exits says CS Verma, chairman, SAIL on Monday. Coal India which holds 28% in the consortium has been mulling an exit, reports CNBC-TV18.

SAIL-led consortium may invest USD 11 bn in Afghanistan

The SAIL-led consortium that has bagged rights to three iron ore mines in Afghanistan today said it may invest around USD 11 billion on the entire project, including infrastructure creation, mining and setting up a 6-mtpa steel plant and 1,000-MW thermal power plant.