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News - Iron and Steel

  • Rlys hikes freight charges for iron ore exports yet again (The Hindu Business Line 6th Dec 2007) Within two months of increasing the congestion surcharge on iron ore traffic, Indian Railways has hiked the surcharge yet again to a whopping 60 per cent per tonne with effect from December 1.
    Earlier, the congestion surcharge was at 35 per cent per tonne, which was effected from October 1 — an increase of 14 percentage points over the 21 per cent surcharge level prevailing till September-end.
    The 21-per-cent congestion surcharge was imposed on iron ore exporters from April 1, through a notification after the Railway Budget.
  • SAT keeps Essar Steel delisting in abeyance (Busienss Standard 6th Dec 2007)
    The Securities Appellate Tribunal (SAT) on Wednesday kept the delisting of Essar Steel from the stock exchanges in abeyance. This means the suspension of trading in the shares of Essar Steel, which was due from tomorrow, is delayed till further order.
    SAT came out with an interim order on Wednesday after an investor moved the authority alleging that the discovered price of the share for delisting was below the intrinsic value of the company, sources close to the development said.
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