ArcelorMittal reported a sharp drop in first-quarter earnings

ArcelorMittal reported a sharp drop in first-quarter earningsArcelorMittal, steel major announced on Wednesday a cut down in the earnings in the first quarter. The earnings were dropped due to lower sales and output. As a result of this announcement company’s shares were opened more than 2 percent lower on Wednesday.

ArcelorMittal, a unit of the world's top steelmaker declares its earnings fell to 49 cents as compared to last year earnings of 16 cents during the same period.

Indiabulls shares up because of talks with ArcelorMittal

Indiabulls shares up because of talks with ArcelorMittal

Shares of financial institution, Indiabulls Power surged on Tuesday after there were news that it is having talks with ArcelorMilltal. The rise was close to 5 per cent and the speculations suggest that the increase was because of rumors that the company is having JV talks with the European company.

The two, it is said, are planning to set up a mining JV in India. The shares increase on the BSE.

In real terms, Indiabulls zoomed up by 4.7 per cent to end at Rs 28.05 on BSE. The same trend was seen on Nifty that went up by 4.9 per cent to end at Rs 28.10.

Ramsarup Industries Shares Hike

Ramsarup Industries Shares Hike

The reports about ArcelorMittal eyeing stakes in Ramsarup Industries augmented the former's shares in the market. These reports have claimed some discussions going on between the two Companies. Up from Rs. 7.05 or
9.06% on the BSE, the scrip read the figures at Rs. 80.50, today at 12:05 pm.

The Indian manufacturer of steel wire, Ramsarup Industries Ltd., has two iron ore leases in Orissa. One of them was acquired in the year 2008, loaded with iron ore, limestone and dolomite mines and is called the Balasore Minerals.

Euro situation, a cause of concern- Says Lakshmi Mittal

Euro situation, a cause of concern- Says Lakshmi Mittal

Arcelor Mittal, the global steel giant, has expressed its concern over the situation of Euro and it has informed that it's not going to be a good sign for the economy. Company Chief Lakshmi Mittal has said informed the media that that the euro situation is not good at all and some concerns which are to be taken into consideration now.

ArcelorMittal signs MoU for 6-mln-T India plant

ArcelorMittal signs MoU for 6-mln-T India plant

The world's largest steel maker Arcelor Mittal has decided to build a steel plant with 6 million tone-a-year capacity in southern India by spending 300 billion rupees. The formal agreement has been signed at Thursday during a conference of global investors which was organized by the government of Karnataka on Thursday. The meet had over 3000 investors gathering form India and overseas to discuss various investments and sign Mou's between the companies and the government.

LN Mittal hints 21% rise in steel prices

LN Mittal hints 21% rise in steel prices

The CEO of one of biggest steel maker ArcelorMittal, Mr. LN Mittal has said that the price of steel may rise by 21% as the cost of raw materials is increasing.

The announcement by Mr. Mittal has started a row over how the global prices if the metal will be determined. Analysts say that the steel makers will have to increase the prices amid angry response from the customers.

"The cost of producing steel is going to go up and will be passed on to customer. Benchmark European hot rolled coil prices will rise by USD 150 a tonne in the second quarter," he said.

Arcelormittal Stands to Gain 1 Billion Pounds from European Scheme

ArcelorMittalGiant steel empire headed by Indian business mogul, Lakshmi Mittal, Arcelormittal, reportedly stands to gain as much as 1 Billion Pounds from the European scheme which is aimed at taking care of global warming. The gain will be made on "carbon credits", which are given to firms under the European Union Emissions Trading Scheme, which grants Europe based firms the "permit" to emit carbon dioxide and other greenhouse gases up-to a certain set limit.

ArcelorMittal plans to acquire 14% in Czech arm

ArcelorMittal, world's major steel manufacturer, has announced that it will soon purchase additional 13.8% stake in its Czech subsidiary ArcelorMittal Ostrava.

The deal, which will be finalized in 2010, will entail an investment of USD 404.3 million (about Rs 1,900 crore).

ArcelorMittal may go for alternatives if Orissa, Jharkand projects do not settle soon

The World's largest steelmaker, ArcelorMittal has warned that troubles in receiving land in Jharkhand and Orissa would force the company to search for alternate sites to house its $20-billion steel projects planned in the two states.

A company official, who is close to development, has informed that the company continued to work on its only greenfield steel plants globally, but if in the event that land acquisition continues to prove difficult, then it will start to look for alternate sites in India.

ArcelorMittal acquires 60% stake in Dubai Steel, enters UAE market

World's largest steel maker ArcelorMittal, has finally entered the UAE market by acquiring 60% stake in UAE-based steel distributor, Dubai Steel Trading Company LLC (DSTC), for an undisclosed amount.

The acquisition would be done through DSTC FZCO, a newly incorporated company located in the Dubai free zone.