Bhushan Steel Ltd.
Bhushan Steel Limited, formerly Bhushan Steel & Strips Ltd., is an India-based company that is principally engaged in the steel business. Bhushan Steel Limited provides a variety of products, such as cold rolled closed annealed (CRCA), galvanized and Color coated sheets, high-tensile steel trapping, hardened and tempered steel strips (HTSS) and precision tubes. In addition to these, the Company's Khopoli plant launched the Galume steel (aluminium and zinc coated sheet). The Company's two wholly owned subsidiaries include Bhushan Steel (Australia) PTY Ltd. and Bhushan Steel Global FZE.
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News
Bowen Energy Limited (ASX:BWN), an Australian coal and uranium exploration company, said today that India's Bhushan Steel (BOM:500055) has made an on-market takeover bid at a price of A$0.10 per share for all of the fully paid ordinary shares in the company.
US stocks closed mixed overnight as the market wobbled after the US Federal Reserve decided to maintain its interest rates at record low to support the subdued recovery. The central bank's upbeat outlook of the economy has led to speculation about a faster interest rate rise.
Asian shares are set to gain on Monday after a rally on Wall Street last Friday. Japan's Nikkei average is also expected to be buoyed by exporters on a weaker yen. Asian shares rallied across the region Friday with shipping stocks leading for another day and miners rising on hopes that demand for commodities might be picking up. The Shanghai Composite Index rallied 4%, delivering its best performance of the week while China-related shares also lifted the market in Hong Kong.
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