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Tata Steel plans a significant Rs 10,000 crore investment in Jharkhand projects by 2028. This expansion aims to boost steelmaking capacity to 40 million tonnes per annum. The company will introduce innovative HIsarna technology for low-carbon iron production. Investments will also enhance the Tinplate Division and Combi mill operations. These initiatives are expected to create 2,000 direct and indirect jobs. View More
Ranchi, Tata Steel on Monday said it plans to invest Rs 10,000 crore in its Jharkhand projects by 2028, which will create 2,000 direct and indirect jobs. The company aims to have 40 million tonnes per annum (MTPA) steelmaking capacity in India, up from the present 27.35 MTPA, through capacity expansion and transition to low-emitting steelmaking routes. "Tata Steel is committed to invest Rs 10,000 crore in its Jharkhand projects, including Rs 7,000 crore in HIsarna & Easy Melting Technology by 2028. In total, the investment will create 2,000 direct and indirect jobs," a company official told the media here. Tata Steel Chief of Corporate Communication, Sarvesh Kumar, said proposed investments included Rs 2,600 crore in expansion of the Tinplate Division, while Rs 1,500 crore will be invested in the Combi mill. HIsarna, a patented Tata Steel technology, is an innovative low-carbon iron-making route that enables direct production of iron without the need for conventional coke, sinter, or pellet plants. Live Events "The technology has been operating successfully at our Netherlands site for the last 10 years, producing 60,000 tonnes per annum, which validates its scalability," an official said. "A one-million-tonne pilot plant is planned within the existing Jamshedpur ecosystem to leverage available infrastructure, and the hot metal produced will be used in the Jamshedpur steel melt shops. The engineering study for this project has commenced," the official said. Key advantages of the HIsarna route include the flexibility to use coking coals readily available in India, reducing dependence on imported coking coal and lowering raw material costs. It also offers significantly lower capital expenditure compared to conventional steel plant construction, since several upstream facilities can be avoided. From a sustainability standpoint, HIsarna emits approximately 20 per cent less carbon dioxide than the traditional blast furnace route. Tata Steel has a consolidated steelmaking capacity of over 36 MTPA -- excluding the UK's 3.2 MT under transition -- in India (27.35 MT), the Netherlands (7 MT), and Thailand (1.7 MT) to cover South East Asian markets. The company aims to increase its capacity to over 50 million tonnes in the long term. The increase will be mainly in India, where the company is working on plans to add over 12 MT. In India, the company owns and operates 11 MTPA steel plants at Jamshedpur and 1 MTPA at Gamharia in Jharkhand. In Odisha's Kalinganagar, the company has 9 MTPA production capacity, which includes Neelancha Ipsat Nigam Ltd (NINL), acquired through the insolvency route. Tata Steel also operates a 5.6 MTPA plant in Odisha's Meramandali. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
The FBI told CNBC that an individual set off "an incendiary device" outside 26 Federal Plaza, which contains a U.S. Immigration and Customs Enforcement office. View More
Members of the FBI Evidence Response Team and other federal agents investigate the scene where an incendiary device was detonated outside of 26 Federal Plaza in Manhattan, New York, United States on July 20, 2026. Kyle Mazza | Anadolu | Getty Images A man described as an anti-ICE activist was taken into custody after setting off fireworks and wielding two airsoft rifles outside an immigration court building in lower Manhattan on Monday morning, five law enforcement sources told MS NOW.Two people were injured and treated on the scene, and another person is being checked, the sources told MS NOW.The fireworks were in a shopping cart, which the man doused with an accelerant and lit on fire, according to those sources.He also "menaced" nearby pedestrians with the airsoft rifles, which are a form of pellet gun that typically use springs or compressed air to shoot plastic spheres, MS NOW reported.The FBI told CNBC in a statement that an individual set off "an incendiary device" outside of 26 Federal Plaza, which contains a U.S. Immigration and Customs Enforcement field office. Read more CNBC politics coverageTrump imposing 50% tariffs on certain Canadian goods over alleged trade discriminationTrump says Netanyahu won't be arrested in New York, pushing back on MamdaniSen. Darline Graham running for full term to replace late brother Lindsey Graham The FBI's New York Joint Terrorism Task Force is investigating the incident, the agency said.The New York Police Department's public information office earlier told CNBC that "somebody set off fireworks" outside the immigration building.New York City Mayor Zohran Mamdani in an X post called the incident "deeply disturbing." "I'm relieved no one was seriously injured and that a suspect is in custody. My team is in touch with the NYPD and we will support the federal investigation," Mamdani said."Our administration will continue to ensure that every New Yorker is safe in their city â and hold accountable any who threaten that," the mayor said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
The investment includes ?7,000 crore for Hisarna and Easy Melting Technology to expand low-carbon steelmaking in India View More
About half of voters believe it isn't appropriate for the U.S. government to own stakes in companies, a new CNBC poll found. View More
U.S. Secretary of Commerce Howard Lutnick looks on as U.S. President Donald Trump speaks in the Oval Office at the White House in Washington, D.C., U.S., June 11, 2026. Daniel Heuer | Reuters About half of Americans believe it isn't appropriate for the U.S. government to take ownership in U.S.-based companies, CNBC's new All-America Economic Survey found.The finding comes as the Trump administration has negotiated 30 deals worth nearly $27 billion in total, according to the Council on Foreign Relations, a nonpartisan think tank. More may be coming. The administration has held talks with influential artificial intelligence start-up OpenAI about a potential government stake when it goes public, CNBC has reported.The All-America poll results show only 19% of voters say it is appropriate for the federal government to own a portion of U.S.-based companies, while 49% say it isn't. Almost a third of voters, or 32%, were undecided, however, suggesting there is room for persuasion as the administration moves ahead with its plans. Read more from the CNBC All-America Economic Survey:Full results from the CNBC All-America Economic SurveyHousing costs is the top political issue for young voters, CNBC survey findsWorld Cup audience stayed bipartisan despite Trumpâs prominent role, CNBC survey findsEconomic outlook is worsening and Trump is getting blamed, CNBC survey findsDemocratic socialists top MAGA candidates among voters in CNBC's All-America poll CNBC's All America poll was conducted July 8-12 with a nationwide group of 1,000 registered voters. It has a margin of error of plus or minus 3.1 percentage points. The poll was conducted in collaboration with Hart Research Associates and Public Opinion Strategies. Results were released Friday.Some U.S. ownership stakes have been opportunistic, while others have been a part of a broader economic strategy. The largest came in August when the U.S. government took 10% ownership of chipmaker Intel. The U.S. government had agreed to provide $8.9 billion in grants to Intel under legislation passed under the Biden administration. The Trump administration decided it wanted equity in exchange, saying that would allow the taxpayer to share in any potential upside. The initial $8.9 billion U.S. stake in Intel has grown 372% since then and was worth $42 billion as of Thursday's close. Commerce Secretary Howard Lutnick discussed the Intel stake with Senate Republicans at a policy lunch last week. "We have to be careful about that," Sen. John Hoeven, R-N.D., said following the meeting. "I understand that he sees value in there for the taxpayer and all that. I'd want to be cautious in this area."Sen. Jon Husted, R-Ohio, also said he was concerned about the trend of the U.S. government taking equity stakes. "I understand that sometimes it makes sense from a national security standpoint and from a taxpayer standpoint," Husted said. But, he added it "shouldn't be permanent."Husted is sponsoring legislation to allow the U.S. government to invest in companies for national security reasons but only for up to eight years.Other government stakes have come through a coordinated effort by the federal government to make sure the U.S. has secure access to resources and technologies it needs for national defense. The Pentagon has backed a company called MP Materials that mines rare earths within the U.S. China has in recent years consolidated its control over rare earth mining, giving it a chokehold over critical components required to build advanced fighter jets, drones and other technologies. Critics of U.S involvement in private companies contend that while the government's favor may temporarily make firms more appealing to shareholders, in the long run companies heavily managed by the government are less competitive. The U.S. steel industry is often cited as a critical example. It has been heavily protected through tariffs and other government measures over the years. In 2025, U.S. Steel was taken private by a Japanese firm. The U.S. government was given a so-called golden share that allows it to veto certain business decisions.The U.S. campaign to use its financial heft to support companies involved in national security has attracted attention from private investors, some of whom have ties to the president. ProPublica reported in May that the White House urged the Pentagon to support defense startup Vulcan Elements, a company that had received an investment from a firm linked to Donald Trump Jr., the president's eldest son. The Pentagon issued privately held Vulcan a $620 million loan. A White House official described the ProPublica report on the administration's involvement in Vulcan as "fake news on steroids." A spokesperson for Donald Trump Jr. said he wasn't personally involved in the deal and doesn't discuss his investments with federal government officials.Democrats are more likely to worry about U.S. government stakes than Republicans. The CNBC poll found 66% of Democrats found it not appropriate for the U.S. to take equity stakes in American companies, while only 34% of Republicans agreed. Even among President Donald Trump's most ardent supporters, skepticism is high, the poll found. Self-identified MAGA Republicans split evenly between 31% who said such ownership is appropriate and 31% who said it's not appropriate. Another 38% said they had no opinion on the matter.The new poll results showed a shift from the October 2025 All-America Economic Survey when 56% of voters said it was not appropriate for the U.S. government to own a portion of a private company. At that time, 13% of voters said such ownership was appropriate, with 31% saying they had no opinion.â CNBC's Emily Wilkins contributed to this report. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Funds will be used to modernise Manufacturing Facility I, procure machinery for Manufacturing Facility II, and secure equipment for Power EPC projects. View More
Absolute Projects (India) Ltd and Jindal Supreme (India) Ltd have secured Sebi's approval to raise funds through initial public offerings (IPOs), an update from the markets regulator showed on Monday. The two firms, which filed their preliminary IPO papers between April and May , obtained the regulator's observation on July 17. In Sebi parlance, issuing observations implies approval to float the IPO. According to the draft papers, Absolute Projects' IPO comprises a fresh issue of 2 crore equity shares with no offer-for-sale (OFS) component. Funds will be used to modernise Manufacturing Facility I, procure machinery for Manufacturing Facility II, and secure equipment for Power EPC projects. Absolute Projects is an engineering, procurement and construction (EPC) player engaged in the execution of power transmission and distribution infrastructure projects. Live Events Jindal Supreme's IPO consists of both a fresh issue of 1.07 crore equity shares and an offer-for-sale (OFS) component of 26.87 lakh equity shares by promoter VVJ Enterprise Private Limited (previously known as J J Jindal Infin Private Limited). Funds raised through the fresh issue will be used to repay debt. Jindal Supreme manufactures and supplies a wide range of steel pipes and tubes for diverse infrastructure and industrial applications. Shares of both companies will be listed on the BSE and NSE. PTI .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Recent research reveals the presence of cyanobacterial toxins in the air of Southwest Florida, matching those found in dolphins displaying Alzheimer's characteristics. This airborne contamination indicates that inhabitants may be exposed to lower concentrations of these toxins, which are believed to heighten the chances of ALS and various ailments. Unlike food-related toxins, mitigating exposure through breath poses a significant and complex challenge. View More
Larsen & Toubro's Metals & Minerals business secured multiple mega orders. These contracts are from leading domestic public and private sector companies. One order involves an 18-MTPA iron ore handling plant in Chhattisgarh. Another project expands a steel plant in West Bengal significantly. L&T also won an EPC order for a new zinc processing plant. View More
Mumbai: Larsen & Toubro (L&T) on Monday said its Metals & Minerals (M&M) business has secured multiple mega orders from leading domestic public and private sector metals and mining companies, reinforcing its leadership in delivering engineering, procurement and construction (EPC) solutions across the metals and minerals value chain. In a filing to the National Stock Exchange, the company said one of the orders has been received from a public sector company, India's largest iron ore producer, as part of its expansion programme to achieve 100 million tonnes per annum (MTPA) of iron ore production capacity by 2030. It stated, "The Metals & Minerals (M&M) business vertical of L&T has secured multiple orders from leading domestic metals and mining companies." Under the contract, L&T has been awarded Package #BE-01C of the 18-MTPA Iron Ore Handling Plant in Chhattisgarh. The scope of work includes design and engineering, procurement, installation and commissioning of a downhill conveyor system, screening plant, stockpile, yard equipment, Rapid Waggon Loading System (RWLS) and associated auxiliaries. L&T has also secured an order from another public sector Navratna company for the expansion of its steel plant in West Bengal from 2.5 MTPA to 7.1 MTPA. The company will execute various Design & Build and Balance of Plant packages for the project. Live Events In addition, L&T has won an EPC order from a major private sector metals producer for a Zinc Processing Plant. The scope includes design and engineering, procurement, installation, commissioning and associated site services. S N Subrahmanyan, Chairman & Managing Director, L&T, said: "This reaffirms L&T's enduring leadership in the minerals and metals EPC sector and reflects the deep trust customers place in our ability to deliver projects of exceptional scale and complexity. As India accelerates investments in augmenting its Metals & Minerals capacity to support long-term economic growth, L&T remains committed to partnering with the country's leading enterprises in developing world-class industrial infrastructure." According to L&T's order classification, a mega order is valued between Rs 10,000 crore and Rs 15,000 crore. The company, however, did not disclose the value of the individual contracts awarded under the latest announcement. T Kumaresan, Senior Vice President & Head - Utilities & Metals, L&T, added: "These orders across the mining, ferrous and non-ferrous sectors reaffirm our customers' confidence in L&T's engineering expertise and project execution capabilities. They strengthen our position as a trusted partner in developing India's metals and minerals infrastructure. We remain committed to delivering the projects with the highest standards of quality, safety and sustainability". At the time of reporting, shares of Larsen & Toubro were trading at Rs 3,821 on the National Stock Exchange (NSE). .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Caliber Mining & Logistics' Rs 450-crore IPO is seeing robust investor interest on its second day. The company's initial public offering is fully subscribed, reflecting strong demand from retail investors. This public issue aims to raise Rs 450 crore through a fresh issue and an offer for sale. The IPO will remain open for subscription until July 21, 2026, with shares expected to debut soon. View More
Caliber Mining & Logistics’ Rs 450-crore initial public offering ( IPO ) continued to attract strong investor demand on the second day of bidding on Monday. The issue was subscribed 7.49 times against the 78.35 lakh shares available for subscription. The Retail Individual Investors (RII) segment witnessed healthy participation, with the category subscribed 5.68 times against the 39.17 lakh shares reserved for retail investors. Investor enthusiasm was also visible in the grey market, where Caliber Mining & Logistics shares were trading at a Grey Market Premium ( GMP ) of around Rs 115. The premium indicates a potential listing gain of nearly 27% over the upper end of the IPO price band. The company is looking to raise Rs 450 crore through the public issue, which includes a fresh issue of 94 lakh equity shares worth Rs 400 crore and an Offer for Sale (OFS) of 12 lakh equity shares valued at Rs 50 crore. The three-day IPO will remain open for bidding until July 21, 2026. The basis of allotment is expected to be finalized on July 22, with the company’s shares likely to list on the NSE and BSE on July 24, 2026. Live Events Caliber Mining & Logistics has set the IPO price band at Rs 402-424 per share. Investors can apply for a minimum lot size of 35 shares, requiring an investment of Rs 14,840 at the upper price band. Before opening the IPO for public subscription, the company raised Rs 134.99 crore from anchor investors by allotting 31.84 lakh equity shares at Rs 424 apiece. The anchor round received participation from leading institutional investors, including Ashoka India Equity Investment Trust Plc, Carnelian India Amritkaal Fund, and Abakkus Four2Eight Opportunities Fund. Domestic institutions such as Quant Mutual Fund and Helios Small Cap Fund also participated. Two domestic mutual funds collectively received 15.33 lakh equity shares across five schemes, reflecting strong institutional interest in the offering. DAM Capital Advisors Ltd. is the book-running lead manager for the issue, while KFin Technologies Ltd. is acting as the registrar. Caliber Mining & Logistics IPO subscription status The IPO continued to see robust demand on Day 2, with the issue subscribed 7.49 times by 10:55 am against the total offer size of 78.35 lakh shares. The Non-Institutional Investors (NII) category recorded the strongest response, with subscriptions reaching 21.26 times against the 16.79 lakh shares allocated. Meanwhile, the Qualified Institutional Buyers (QIB) portion received bids for 33% of the 22.38 lakh shares reserved for the category. Caliber Mining & Logistics GMP today Caliber Mining & Logistics shares are currently commanding a GMP of approximately Rs 115 in the grey market, suggesting a possible listing price of around Rs 539 per share compared with the upper IPO price band of Rs 424. However, investors should note that GMP is an unofficial market indicator based on grey market activity and should not be considered the only factor when evaluating an IPO investment decision. About Caliber Mining & Logistics Established in 2014, Caliber Mining & Logistics is an integrated mining services company offering end-to-end solutions across the coal mining value chain. Its services include overburden removal, coal extraction, loading and unloading, road transportation, and rail logistics coordination. The company primarily caters to subsidiaries of Coal India Ltd. , with Western Coalfields Ltd. (WCL) and Northern Coalfields Ltd. (NCL) among its major clients. Caliber entered the coal logistics business in FY16, providing integrated transportation solutions. In FY23, it diversified into the iron ore logistics segment, expanding its service portfolio beyond coal. The company's mining and logistics operations are spread across Maharashtra, Chhattisgarh, and Madhya Pradesh, strengthening its presence in India's key mining regions. How will the IPO proceeds be utilized? Caliber Mining & Logistics plans to use the proceeds from the fresh issue to strengthen its balance sheet and enhance its operational capabilities. Out of the total proceeds, Rs 175 crore will be allocated towards the repayment or prepayment of existing borrowings. Another Rs 200 crore has been earmarked for capital expenditure, primarily to acquire new machinery and equipment that will support the company's expansion plans. The remaining funds will be utilized for general corporate purposes. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. 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