SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Sumitomo to buy up to 40% in Bhushan unit

17 Dec 2009 Evaluate

Japan's Sumitomo is considering buying stake in Bhushan Steel's upcoming plant in West Bengal for about Rs 20,000 crore. It is exploring the possibility of buying a stake in the range of 25-40% in Bhushan Steel's West Bengal project as it offers a great opportunity to invest in the Indian steel market.

 

The West Bengal project, with a capacity of 6 mtpa, will be developed in two phases of 3 mtpa each. Japan's third-largest steel maker also signed a marketing agreement with Bhushan Steel's Orrisa plant that will commission 2.2 mtpa by next month and increase capacity to 5 mtpa by October 2012.

 

Under the pact, Sumitomo will buy steel from the Indian firm and sell under its brand name to Japanese car makers operating in India, such as Honda, Toyota, and Suzuki. The Japanese firm will also share its technology with its Indian partner.

 

The marketing pact with a Japanese firm that has superior technology is also important for Bhushan Steel as there is a threat from the Chinese companies selling better steel products at cheaper rates. China poses a threat to the Indian steel market.

crackcrack

Tata Steel BSL Share Price

85.55 0.00 (0.00%)
12-Nov-2021 18:01 View Price Chart
Peers
Company Name CMP
Tata Steel 212.05
JSW Steel 1239.90
SAIL 173.50
Jindal Stainless 787.90
APL Apollo Tubes 2105.45
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×