ISIBARS

Nov 22 (Reuters) - India Steel Works Ltd INST.BO:

• INDIA STEEL WORKS -TO ISSUE UPTO 97.5 MILLION SHARES AT 6.25 RUPEESPER SHARE TO PROMOTERS ON PREFERENTIAL BASIS

Source text: ID:nBSE8Wj94h

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Nov 20 (Reuters) - India Steel Works Ltd INST.BO:

• INDIA STEEL WORKS LTD - DISMISSAL OF APPEAL FILED BY KOTAK MAHINDRA BANK

• INDIA STEEL WORKS LTD - COMPANY APPEAL DISMISSED ON 19 NOV 2024 AS WITHDRAWN

Source text: ID:nBSE96Pbp9

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Nov 18 (Reuters) - India Steel Works Ltd INST.BO:

• INDIA STEEL WORKS LTD - TO CONSIDER RAISING OF FUNDS

Source text: ID:nBSE71tx5L

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Oct 4 (Reuters) - India Steel Works Ltd INST.BO:

• ENTERED INTO CONSENT TERM FOR ONE TIME SETTLEMENT WITH KOTAK MAHINDRA BANK

• TO PAY 240 MILLION RUPEES TO KOTAK MAHINDRA BANK IN FULL & FINAL SETTLEMENT

Source text for Eikon: ID:nBSEbzsxFr

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Repeats story with no changes to text

By Neha Arora

NEW DELHI, June 29 (Reuters) - India's steel and trade ministries are in talks over rising imports, particularly cheap Chinese goods, a government source with direct knowledge of the matter said on Saturday, amid persistent calls for higher tariffs from top producers.

India turned net steel importer in the fiscal year that ended in March and the trend continues with its finished steel imports scaling a five-year high in April and May, according to provisional government data.

India imported 1.1 million metric tons of finished steel between April and May, up 19.8% from a year earlier.

"The steel ministry has apprised the commerce ministry on rising imports and industry has sought a probe," the source said, declining to be identified as discussions are not public.

India is monitoring cheap Chinese imports, the source said, as China continues to be top exporter of steel to the Asia's third-largest economy in recent months.

Major Indian steel producers such as Tata Steel TISC.NS have flagged Chinese imports as a "growing concern."

India's steel mills, alarmed by a sharp rise in imports, have repeatedly called for government interventions and higher import taxes. However, the federal Ministry of Steel has resisted such calls, citing strong local demand.

Earlier on Saturday, a senior executive at ArcelorMittal Nippon Steel India ESRG.UL said the government should consider raising the basic customs duty on steel to 12.5% from 7.5% due to surging imports.

"Immediately, we should go back to 12.5% duty regime, which was there earlier," said Ranjan Dhar, director and vice president, sales and marketing, ArcelorMittal Nippon Steel India.

(Reporting by Neha Arora; Writing by Nikunj Ohri; Editing by William Mallard and Himani Sarkar)

((neha[email protected];))

Adds April-May imports, comment from source, other details in paragraphs 2-9

By Neha Arora

NEW DELHI, June 29 (Reuters) - India's steel and trade ministries are in talks over rising imports, particularly cheap Chinese goods, a government source with direct knowledge of the matter said on Saturday, amid persistent calls for higher tariffs from top producers.

India turned net steel importer in the fiscal year that ended in March and the trend continues with its finished steel imports scaling a five-year high in April and May, according to provisional government data.

India imported 1.1 million metric tons of finished steel between April and May, up 19.8% from a year earlier.

"The steel ministry has apprised the commerce ministry on rising imports and industry has sought a probe," the source said, declining to be identified as discussions are not public.

India is monitoring cheap Chinese imports, the source said, as China continues to be top exporter of steel to the Asia's third-largest economy in recent months.

Major Indian steel producers such as Tata Steel TISC.NS have flagged Chinese imports as a "growing concern."

India's steel mills, alarmed by a sharp rise in imports, have repeatedly called for government interventions and higher import taxes. However, the federal Ministry of Steel has resisted such calls, citing strong local demand.

Earlier on Saturday, a senior executive at ArcelorMittal Nippon Steel India ESRG.UL said the government should consider raising the basic customs duty on steel to 12.5% from 7.5% due to surging imports.

"Immediately, we should go back to 12.5% duty regime, which was there earlier," said Ranjan Dhar, director and vice president, sales and marketing, ArcelorMittal Nippon Steel India.

(Reporting by Neha Arora; Writing by Nikunj Ohri; Editing by William Mallard and Himani Sarkar)

((neha[email protected];))

March 26 (Reuters) - India Steel Works Ltd INST.BO:

• APPROVED PROPOSAL FOR RAISING FUND WORTH UPTO 350 MILLION RUPEES

• RAISING FUND VIA UNSECURED LOANS

Source text for Eikon: ID:nBSE56S68V

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Jan 16 (Reuters) - India Steel Works Ltd INST.BO:

• CONSIDERED A PROPOSAL TO RESTRUCTURE EXISTING BUSINESS

• TO EXPLORE ENTERING IN TO BUSINESS OF RE-DEVELOPMENT OF LAND & BUILDINGS WHEREVER SITUATED IN INDIA

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June 30 (Reuters) - India Steel Works Ltd INST.BO:

• CO IS IN CONTINUOUS DISCUSSIONS WITH WORKERS UNION, LENDERS, POTENTIAL INVESTORS , SUPPLIERS TO REVIVE OPERATIONS

Source text for Eikon: ID:nBSE5cFch8

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