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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Pramod Mittal’s last remaining asset in India has shut down. How did the younger sibling of renowned steel baron Lakshmi Mittal turn out to be such a destroyer of wealth?
Editor's note: If India's steel industry had a voice and human form, it would be ashamed of what has come to pass in Balasore. Yes, Balasore. A district in northern Odisha that is witness to the theatre of the absurd, centred around a company called Balasore Alloys, a run-of-the-mill, medium-sized enterprise mostly unknown beyond the district it is named after. The drama includes employees going unpaid for months on end and a board which has resigned in embarrassment and a tearing hurry, lest it be hauled up for presiding over a man-made disaster. Finally, the sorry state of Balasore Alloys itself, which underlines the abject failure of one part of the global steel industry’s first family—the Mittals. Let’s dive into the thick of action. Lights out These should have been good times for Balasore Alloys and its 2,000 employees and contract workers. Demand for stainless steel has soared, and the company should have been making record profits, giving bonuses to employees and distributing dividends to investors. Other ferro alloy makers, including IMFA and Shyam Century Ferrous, are making merry owing to this …
Pramod Mittal’s last remaining asset in India has shut down. How did the younger sibling of renowned steel baron Lakshmi Mittal turn out to be such a destroyer of wealth?
Editor's note: If India's steel industry had a voice and human form, it would be ashamed of what has come to pass in Balasore. Yes, Balasore. A district in northern Odisha that is witness to the theatre of the absurd, centred around a company called Balasore Alloys, a run-of-the-mill, medium-sized enterprise mostly unknown beyond the district it is named after. The drama includes employees going unpaid for months on end and a board which has resigned in embarrassment and a tearing hurry, lest it be hauled up for presiding over a man-made disaster. Finally, the sorry state of Balasore Alloys itself, which underlines the abject failure of one part of the global steel industry’s first family—the Mittals. Let’s dive into the thick of action. Lights out These should have been good times for Balasore Alloys and its 2,000 employees and contract workers. Demand for stainless steel has soared, and the company should have been making record profits, giving bonuses to employees and distributing dividends to investors. Other ferro alloy makers, including IMFA and Shyam Century Ferrous, are making merry owing to this …
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
FY26 numbers show that Airtel is stealing a march on its larger rival on most counts and is unrelenting in its ambition, casting a cloud on Jio’s valuation.
Telecom and retail both continue with their ‘hit and miss’, while O2C delivers an unsurprisingly poor performance in Q4. This is a year RIL will be glad to see the back of.
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
FY26 numbers show that Airtel is stealing a march on its larger rival on most counts and is unrelenting in its ambition, casting a cloud on Jio’s valuation.
Telecom and retail both continue with their ‘hit and miss’, while O2C delivers an unsurprisingly poor performance in Q4. This is a year RIL will be glad to see the back of.
