Calcutta: ArcelorMittal and Numetal Ltd are trying to make a case to establish their credentials as turnaround specialists for stressed assets even as their fate as eligible bidders of Essar Steel continues to remain wrapped in mystery, at least till this weekend.

ArcelorMittal, the world's largest steel maker, which boasts of 50 mergers and acquisitions over the past 25 years, cited several global benchmarks in reviving underperforming steel plants across geographies to make a pitch for Essar Steel, which has struggled to operate as a profitable venture on a sustained basis, especially because of a high debt amounting to Rs 44,000 crore.

Idea Cellular Ltd and Vodafone Group Plc’s Indian unit, which are set to merge to create India’s largest telecom operator, will invest Rs60,000 crore in infrastructure to meet surging demand for data, according to a person aware of the matter.

The companies expect demand to surge sixfold to more than 120 petabytes a day in the near term from around 20 petabytes now, this person said, requesting anonymity.

The recent tariff order issued by the Telecom Regulatory Authority of India has triggered a fresh round of war of words between Mukesh Ambani-led Reliance Jio and the other major service providers — Airtel, Vodafone and Idea, with the latter group alleging the sectoral regulator had distorted “the competitive landscape in favour of one operator … with deep pockets and monopolistic designs.”

TVS Motor Company launched its flagship motorcycle Apache RR 310 in India in December last year. The bike made its arrival holding a price tag of Rs 2.05 lakh (ex-showroom). With the launch of TVS Apache RR 310, the company aimed at selling 10,000 units of the motorcycle annually and the target did not seem over-enthusiastic or impossible. The latest data by SIAM reveals that TVS managed to sell 242 units of the motorcycle in the month of January 2018. This looks quite low compared to TVS' target that had set at the time of launch.

Apollo Hospitals has signed a Memorandum of Understanding (MoU) with IBM to invest in healthcare startups. The fund will also help create an onco-diagnostics system. The corpus of the fund will be between $50 million – $100 million. Apollo Hospitals plans to work as an accelerator, which will provide an investment of $5 million at first and then later bolster another $10 million.

Microsoft faces off with the US government before the Supreme Court tomorrow over a warrant for data stored abroad that has important ramifications for law enforcement in the age of global computing. The case, which dates back to 2013, involves a US warrant ordering Microsoft to turn over the contents of an email account used by a suspected drug trafficker, whose data is stored in a cloud computing center in Ireland.

State owned telecom firm BSNL today signed a pact with Finnish telecom gear maker Nokia to roll out 4G services in 10 telecom circles covering western and southern regions in India. “We are really proud to have technology partner like Nokia with whom we are working in South and West Zone of the country, rolling out the latest single RAN Technology, and further moving towards 5G…,” BSNL CMD Anupam Shrivastava said in a statement.

Oil producer ONGC has said it may miss the June 2019 target for starting production from its Krishna Godavari basin block due to new policies like GST and local purchase preference rules, including the one that mandates state-owned firms to source domestic iron and steel for an infrastructure project.

Clarifying on its last week's filing to stock exchanges, Oil and Natural Gas Corp (ONGC) said the new policies it had cited for a possible delay pertained to local purchase preference policy, steel policy and GST policy.

In a big fillip to Andhra Pradesh, Reliance Industries (RIL) and its associate companies have made a committed investment of Rs 55,000 crore in the state to facilitate the business of marketing gas and LNG. India gas Solutions Private, a 50:50 joint venture company of RIL, BP International (BP) and Andhra Pradesh Economic Development Board (APEDB) signed a memorandum of understanding (MoU) during the three-day CII Partnership Summit with a committed investment of Rs 40,000 crore.

BENGALURU: In what is likely to become India’s biggest science programme in the next few years, Isro has started work on building igloos on the moon. These ‘lunar habitats’, as scientists call them, will be built by sending robots and 3D printers to the moon, and by using lunar soil and other material.

The project has seen progress with a working model — created using a 3D printer — sitting in the space agency’s lunar terrain test facility.

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