Fair trade regulator Competition Commission of India (CCI) has given its nod to Essar Steel’s proposed sale of a gas plant in Gujarat to Inox Air Products. CCI said that the deal does not raise adverse competition concerns in the country.
According to the deal, Ruias-promoted Essar Steel will transfer its gas plant located at Hazira, Gujarat to Inox on a slump sale basis.
The CCI noted that in terms of an agreement between Essar Steel and Inox, a guaranteed quantity of the industrial gases produced at the Hazira gas plant Essar Steel, on job work and long term basis, would be provided to Essar Steel, by Inox AP, post combination.
Essar Steel, as part of its business activity of steel manufacturing has a gas plant which produces oxygen, nitrogen, and argon gases, while Inox Air Products is engaged in the business of manufacturing and supplying industrial gases across India.
| Company Name | CMP |
|---|---|
| Tata Steel | 214.45 |
| JSW Steel | 1277.70 |
| SAIL | 184.80 |
| Jindal Stainless | 755.10 |
| APL Apollo Tubes | 1948.80 |
| View more.. | |
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.
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.
MoneyWorks4Me ensures this through: