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Thyssenkrupp AG and Jindal Steel International have paused discussions on a potential stake sale in the German firm’s steel unit. The company said the assumptions for the deal have changed, citing progress in restructuring its steel business and a more favourable regulatory environment in Europe, which offers better growth prospects despite high energy costs. View More

Thyssenkrupp AG said it and Jindal Steel International agreed to pause talks about the Indian company acquiring a stake in its steel unit. “The original assumptions and prerequisites for a potential sale of Thyssenkrupp Steel have significantly changed in recent months,” the German company said in a statement on Saturday, as per Bloomberg. “Thyssenkrupp has made significant progress in realigning its steel segment,” it said, adding that the regulatory environment for the industry in Europe has become “fundamentally more favorable” and “offers the sector significant potential for stabilization and growth” despite the current surge in energy prices. A deal had become increasingly elusive in the months since Jindal submitted a non-binding offer last fall to buy Thyssenkrupp Steel Europe outright. By March, senior officials at Thyssenkrupp had begun to doubt that an agreement could be reached, Bloomberg reported at the time. The sides hit roadblocks over how much funding the Indian group would be able to provide through a prolonged downturn in Europe’s steel market and how much cash Thyssenkrupp itself would need to inject into the unit before handing control to a new owner. Live Events The German company could have to commit at least €2 billion ($2.3 billion) over time to make a deal work, people familiar with the negotiations said at the time told Bloomberg. Thyssenkrupp Steel has been seeking billions of euros in subsidies from the German government to help fund a raft of decarbonization measures, but uncertainty around approvals for this state aid are also complicating negotiations, the people said. Thyssenkrupp’s goal remains to make the unit autonomous, the company said on Saturday. (With inputs from Bloomberg) .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;} .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)

Israel has reportedly sent its advanced 'Iron Beam' laser defence system and surveillance tech to the UAE to counter Iranian threats, marking a significant defence cooperation step. This deployment, alongside US military sales to regional allies, underscores escalating tensions and a bolstered regional security posture amid the ongoing US-Iran conflict. View More

From a cotton trader to a nation builder, the visionary behind steel, science, and modern Indian industry. View More

Jindal Steel reported record production in FY26, with net profit rising 20% and revenue up 8% on higher volumes and firm steel prices. View More

Mangalam Worldwide, a stainless-steel manufacturer, reported an impressive 81% surge in consolidated net profit to Rs 15.37 crore for the quarter ending March 31, driven by a significant reduction in expenses. Despite a dip in income to Rs 266.50 crore, the company's overall annual income saw a 14% increase. View More

Stainless-steel manufacturer Mangalam Worldwide has reported an 81 per cent rise in consolidated net profit to Rs 15.37 crore during the quarter ended March 31, supported by lower expenses. It had reported a net profit of Rs 8.47 crore in the year-ago period, the company said in an exchange filing on Wednesday. The company reduced its expenses to Rs 250 crore from Rs 318 crore in the January-March period of FY25. The income in the fourth quarter was lower at Rs 266.50 crore against Rs 324.56 crore in the year-ago period. For the entire 2025-26, the income stood at Rs 1,214.98 crore, up 14 per cent from Rs 1,066.03 crore in FY25. Live Events Gujarat-based Mangalam Worldwide operations range from scrap melting to the manufacturing of seamless pipes and tubes. 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;} .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)

CNBC's Jim Cramer said he only sees two sectors in the market these days — the data center stocks and everything else. View More

In this article.SPXIRMFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO3:2103:21Quanta is the obvious winner when you want to build out the grid, says Jim CramerMad Money with Jim Cramer CNBC's Jim Cramer said there are essentially only two sectors in the market these days — the data center stocks and everything else. "The data center, the data center, the data center," said the "Mad Money" host. "You probably tempted to say enough already … but this quarter it went mainstream."The S&P 500 closed at another all-time high on Thursday, powered by a broad group of stocks benefiting from the massive buildout of artificial intelligence infrastructure. Cramer said the pattern is unmistakable: many of the market's biggest winners are all connected, directly or indirectly, to data centers. He pointed to Quanta Services as a prime example. The company builds power lines and grid infrastructure, which have become critical as utilities scramble to meet soaring electricity demand. Data centers, Cramer said, are "giant mouths that must be fed with never-ending electricity," creating opportunity far beyond semiconductors. Cramer also explained that Eaton and Vertiv are benefiting from power management and cooling needs, and Carrier Global is seeing a turnaround tied to data center cooling. "This quarter may be the beginning of a multi-year move," Cramer said. Teradyne has rallied as increased chip production requires more of its testing services. Cramer noted that chipmaker Qualcomm, which has long traded in connection to the smartphone market, is breaking into the data center market with a new, unnamed customer. Even industrial names are being pulled in. Caterpillar is seeing strong demand for its turbines, which are increasingly used to power data centers. "I worry they don't have enough," Cramer said, noting the strength of demand. Meanwhile, networking firms like Ciena, Arista Networks, and Cisco are benefiting as data centers require more connectivity to move massive amounts of data. Even real estate investment trust Iron Mountain, long known for physical document storage, is now leasing space to hyperscalers seeking more computing power. Cramer said the breadth of winners shows the data center boom is no longer a narrow tech trade, but a full-scale industrial expansion with lots of opportunity for investors. "What do we see? A manufacturing mosaic," he said. "As far as I am concerned, the data center is a windfall for almost every slice of the economy." watch nowVIDEO10:3810:38Jim Cramer explains the market can be essentially split into the data center stocks and everything elseMad Money with Jim Cramer Jim Cramer's Guide to InvestingClick here to read Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - InstagramQuestions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Hindustan Laboratories has received Sebi's observations, a crucial step towards its IPO, which includes a fresh issue and an offer for sale. The company plans to use the proceeds for working capital and general corporate needs. RK Steel Manufacturing also received regulatory approval for its issue. View More

Indian pharmaceutical firm Hindustan Laboratories has received observations from capital markets regulator Sebi, clearing a key step toward its proposed initial public offering (IPO). The IPO comprises a total issue size of up to 14.1 million equity shares with a face value of Rs 10 each. This includes a fresh issue of up to 5 million shares and an offer for sale (OFS) of up to 9.1 million shares by existing shareholders. According to the filing, the company intends to use the net proceeds from the fresh issue primarily to fund its working capital requirements and for general corporate purposes. Hindustan Laboratories operates in the generic pharmaceuticals segment, focusing on the large-scale manufacturing and supply of affordable medicines. Its portfolio mainly consists of generic formulations, drugs whose patents have expired and are typically priced lower than branded alternatives, making them widely accessible. The company’s business model is largely business-to-government (B2G), with a strong presence in public procurement systems. It supplies medicines under contracts for central government projects routed through agencies of the Ministry of Health and Family Welfare, as well as various state government bodies. These government institutions form the bulk of its customer base. The IPO is being managed by Choice Capital Advisors Private Limited, which has been appointed as the book-running lead manager for the issue. Live Events Apart from Hindustan Labs, RK Steel has also received the nod from regulator to launch the issue. Incorporated in 2006, RK Steel Manufacturing is a prominent manufacturer of welded structural steel tubes and pipes. The company boasts a diverse product portfolio, including Pre-Galvanised Pipes (GP), Hot Dip Galvanised Pipes (GI), Hot Rolled Pipes (HR), and Cold Rolled Pipes (CR), alongside value-added products like GP Coils and CRFH Coils. .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;} .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)

The new addition was part of AM/NS India’s ongoing ? 60,000-crore expansion project at Hazira, to develop upstream, downstream, and other enabling facilities View More

Both companies had filed their draft papers in September and received SEBI’s observations on April 27, which effectively clears them to proceed. View More

The combination would create the world’s largest elevator maker and marks one of Europe's biggest takeovers in recent years. View More

A TK Elevator (TKE) elevator on display at the Microsoft Corp. booth at the Hannover Messe 2026 trade fair in Hannover, Germany, on Monday, April 20, 2026.Bloomberg | Bloomberg | Getty Images Finland's Kone has agreed to buy German rival TK Elevator in a deal valued at 29.4 billion euros ($34.4 billion), marking one of Europe's biggest takeover agreements in recent years.The cash and share agreement, which had been rumored in recent days, would create the world's largest elevator maker, overtaking rivals such as U.S.-based Otis and Switzerland's Schindler. Kone said the deal would result in estimated synergies of 700 million euros on an annual run-rate basis."For over a century, both KONE and TKE have successfully developed their businesses, in tandem with an urbanizing world. By uniting, we are laying the foundation for an even more innovative company, well positioned for long-term success," Kone CEO Philippe Delorme said in a statement.Kone shareholders holding just over 40% of all outstanding shares and approximately 74.3% of total votes have agreed to support the deal, the company said. TK Elevator CEO Uday Yadav said the two companies share a "deep respect" as he welcomed the announcement. "Together we will bring the very best of both companies to our customers, our people, and the cities we serve. The best of our story lies ahead," Yadav said. Shares of German steel company Thyssenkrupp rose 8% on the news, paring gains having climbed as much as 14%. TK Elevator became an independent company after separating from Thyssenkrupp in 2020. Private equity firms Advent and Cinven bought TK Elevator for around 17 billion euros at the time.The proposed merger is expected to face industry scrutiny, with Schindler telling Reuters late last month that it was prepared to challenge any such deal before antitrust authorities. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.