Luxembourg-based multinational steel firm ArcelorMittal and domestic industry major Tata Steel have evinced interest in Bhushan Steel which is undergoing insolvency proceedings.
The development has come at a time when the debt-laden firm, which was referred to NCLT by the RBI under the Insolvency and Bankruptcy Code, has reported narrowing down of its standalone net loss to Rs 467.37 crore during the September quarter from Rs 980.22 crore in the same period a year ago.
During the July-September 2017, total income of Bhushan Steel rose 43 per cent to Rs 4,325.60 crore from Rs 3,025.79 crore during the same period a year ago, the company said in a BSE filing.
“Yes! ArcelorMittal is interested in Bhushan Steel,” said a person in the …
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