Steel Insights


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The steel sector slump is in extended mode. To stay in shape, the Rs 3,500-crore Adhunik Group too did just what the doctor ordered, i.e. focus on internal strengths. The prescription includes integrating operations, investing rationally and divesting non-crore business to reduce debt and generate additional cash flow. It is eyeing revenues of Rs 4,000 crore from its steel & pellet plants post-implementation of the 2-mtpa pellet capacity at Sundergarh, Odisha. New thermal power plants with the Chhattisgarh and Bihar governments are also on the anvil, Manoj Kumar Agarwal, MD, Adhunik Metaliks, told Steel Insights.