...January 1973, SAIL has 101,878 employees (as on 31-Mar-2013).[2] With an annual production of 13.5 million metric tons, SAIL is the 24th largest steel producer in the world. -Formation: The Ministry of Steel and Mines drafted a policy statement to evolve a new model for managing industry. The policy statement was presented to the Parliament on 2 December 1972. On this basis the concept of creating a holding company to manage inputs and outputs under one umbrella was mooted. This led to the formation of Steel Authority of India Ltd. The company, incorporated on 24 January 1973 with an authorised capital of 2000 crore (US$330 million) -Objectives: Steel Authority of India Limited (SAIL) is the leading steel-making company in India. It is a fully integrated iron and steel maker, producing both basic and special steels for domestic construction, engineering, power, railway, automotive and defence industries and for sale in export markets. SAIL is also among the seven Maharatnas of the country's Central Public Sector Enterprises. SAIL manufactures and sells a broad range of steel products, including hot and cold rolled sheets and coils, galvanised sheets, electrical sheets, structurals, railway products, plates, bars and rods, stainless steel and other alloy steels. SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials, including...
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...reference to 2014. GDP is the measure of all final goods and services made in a year, and made in the United States. This does include foreign country operations that are located in the U.S., however it excludes U.S. plants in foreign countries. The GDP numbers are important because it represents how well the economy is doing. An economy doing poorly will have lower profits for businesses, which effects stock price. This is significant to investors that look at GDP growth, and if it is negative it could suggest that the economy is in a recession. The real GDP is the most looked at figure in discussion with the economy. Real GDP is comparing one year to the other taking out the effects of inflation calculated by the Bureau of Economic Analysis (BEA). According to the BEA, the U.S. GDP increased 2.4 percent in 2014 from the figures found in 2013. The results I will also look at is the latest fourth quarter of 2014, because GDP is reported quarterly as well. The GDP is a very in depth and comprehensive report, therefore I will concentrate on the most important numbers that the report contains. The extras that the report contains breaks down personal consumption expenditures, gross private domestic investment, net exports of goods and services, government consumption expenditures and gross investment. What is important to investors is the fact that GDP is growing around 3%. According to Investopidia, “The general consensus is that 2.5-3.5% per year growth in real GDP...
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...Group Research Project Jindal Steel Works Ltd. & Steel Authority of India Ltd. Executive Summary This report provides an elaboration of the steel industry of India as well highlights the comparison parameters of the current and prospective profitability, liquidity and financial stability of two major players of the industry – Jindal Steel Works Ltd. and Steel Authority of India Ltd. The analysis of the players includes trend prevalent in the industry, horizontal and vertical analysis of the organizations as well as ratios such as Interest Coverage, Solvency, Profitability and Performance. Other calculations include Z-Score analysis, Financial Statements Case analysis and Total Assets and earnings per share to name a few. All calculations can be found in the attached excel files. Results of data analyzed show that SAIL has had a drastic downturn for the last five years whereas JSW has improved its value in the market by adoption of certain new technologies at timely intervals. The report finds the prospects of the companies in their respective current positions are not positive. The major areas of weakness require further investigation and remedial action by management. Some challenges that are being faced by the company as discovered during the Qualitative Analysis of the organizations are, There have been multiple fluctuations in the market and the numerous possibilities of China's entrance into the exporting markets Thought the domestic demand...
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...Attrition Analysis (2014-15) [pic] June 2015 Prepared By: Anushree Panicker (SIES College of Management Studies) Sugandhi Murali (SIES College of Management Studies) Surabhi Nair (Institute of Management and Computer Studies) Table of Contents | | | | |Sr No. |Particulars |Page No | |1. |Executive Summary |3 | |2. |Objectives |4 | |3. |Scope |5 | |4. |Methodology |6 | |5. |Introduction |8 | |6. |Steel Manufacturing Sector |9 | |7. |About Mukand Limited |10 | |8. ...
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...STUDY EXECUTIVE SUMMARY Nucor is the world’s leading mini-mill producer of a diverse range of steel products such as bars, beams, sheets, plates joists and fasteners. With a production capacity exceeding 27 million tons, it is the largest producer of steel in the United States, as well as North America’s largest recycler. Nucor’s growth and success are driven by its low-cost strategy and technological leadership. By pioneering the use of electric arc furnaces and creating a network of mini mills, the company eliminated the need for excessive costs in production processes, capital equipment, raw material, distribution and manpower. COMPANY HISTORY 1950s-60s – make of nuclear instruments and electronics 1964 – exited nuclear to focus on profitable steel joist bsiness 1972 – adopted the name Nucor and began long-term strategy to grow into a major player in the US steel industry 1985 – became the 7th largest steelmaker in North America 2012 – surpassed US Steel as the largest steel producer in North America 2014 – made 166 consecutive quarterly dividend payments, having earned profits in every quarter of every year since 1966 VISION, MISSION, VALUES Nucor is made up of over 20,000 employees guided by the following vision and mission: “Take care of our customers by being the safest, highest quality, lowest cost, most productive and most profitable steel and steel products company in the world.” The company broadens its definition of “customers” by including...
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...Industries stands at 166.8 in September, 2015, which was 3.2 % higher compared to the index of September, 2014. Its cumulative growth during April to September, 2015-16 was 2.3 %. Coal 3. Coal production (weight: 4.38 %) increased by 1.9 % in September, 2015 over September, 2014. Its cumulative index during April to September, 2015-16 increased by 4.2 % over corresponding period of previous year. Crude Oil 4. Crude Oil production (weight: 5.22 %) decreased by 0.1% in September, 2015 over September, 2014. Its cumulative index during April to September, 2015-16 increased by 0.4 % over the corresponding period of previous year. Natural Gas 5. The Natural Gas production (weight: 1.71 %) increased by 0.9 % in September, 2015. Its cumulative index during April to September, 2015-16 declined by 2.1 % over the corresponding period of previous year. Page 1 of 4 Refinery Products (93% of Crude Throughput) 6. Petroleum Refinery production (weight: 5.94%) increased by 0.5 % in September, 2015. Its cumulative index during April to September, 2015-16 increased by 3.6 % over the corresponding period of previous year. Fertilizers 7. Fertilizer production (weight: 1.25%) increased by 18.1 % in September, 2015. Its cumulative index during April to September, 2015-16 increased by 8.0 % over the corresponding period of previous year. Steel (Alloy + Non-Alloy) 8. Steel production (weight: 6.68%)...
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...Gopal Iron & Steels co. (Gujarat) Ltd. -A Managerial View A Report by:- Mohak Bhandari, Sambhav Jain, Harsh Patel, Bharat Gabra Table of Content SR.NO | Particulars | Page. no | 1 | Company Overview | 3 | 2 | Industry Overview | 4 | 3 | Company Details | 6 | 4 | Shareholding Pattern | 7 | 5 | Financial History | 8 | 6 | Management Practices | 9 | 7 | Operation Management | 10 | 8 | Process | 11 | 9 | Management | 12 | 10 | Labor Response | 13 | 11 | Globalization Responses | 14 | 12 | Change and Innovation | 15 | 13 | Leadership | 16 | 14 | PESTLE Analysis | 17 | 15 | Conclusion | 18 | Company overview Gopal Iron & Steels Co. (Gujarat) Limited (GISCO) is established in the year 1994. We are a leading manufacturer of Structural Steels, Bars and ERW Tube / Pipes in the state of Gujarat. Over the years, GISCO has been continuously upgrading with latest technology and infrastructure. GISCO has earned the status of preferred steel manufacturer for traders, customers, engineering, construction, infrastructure and other primary industry. Since its inception, as Gopal Rolling Mills Private Limited, the company has never looked back. Every year has brought enormous rewards not only in the form of revenues and records, but also in the form of continuously growing customer base. The company was converted into a Public Limited Company in the year 1995 and since then it is known as Gopal Iron & Steels Co. (Gujarat) Limited...
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...the rapid economic growth and prosperity in the U.S. which became to have the most dominant economic, industrial, and agricultural power during this time. The United States had accumulation of capital through a continuing series of investment that just soared dramatically. This economic soar was a turning point for American History and a relief for those who did not have jobs, it was an opportunity for those who did not have job to finally be able seek a better living and a decent job. Robert Higgs, a graduate student wrote a book of the American Economy during 1865-1914. In Robert Higgs book “The Transformation of the American Economy,” he states, “The Gilded Age, lasting from 1865 to World War I, was an era of economic growth never before seen in the history of the world. The standard of living of the modern age was born during this time of phenomenal transition. Lives lengthen. Wealth exploded. The middle class lived better than kings a century earlier” (Transformation of The American Economy). This statement in the book clearly speaks for itself. The economy during this time era was a tremendous upscale in history. The significance of the economic growth during this time meant no more living with the worry of not having a job or having to migrate from city to city just to find a job. This time period brought many people the chance to live a better life and with better pay so to say. Many companies and factories took a huge part of this economic growth. The fast-growing national...
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...ArcelorMittal is the world’s leading steel and mining company. Guided by a philosophy to produce safe, sustainable steel, it is the leading supplier of quality steel products in all major markets including automotive, construction, household appliances and packaging. ArcelorMittal is present in 60 countries and has an industrial footprint in 19 countries. Since its inception, ArcelorMittal has rapidly grown through a successful consolidation strategy with a number of significant acquisitions ArcelorMittal is the successor to Mittal Steel, a business originally set up in 1976 by Mr Lakshmi N Mittal, chief executive officer and chairman of the board of directors. ArcelorMittal was created through the merger of Arcelor and Mittal Steel in 2006. Mittal Steel’s rapid growth since 1989 has been the result of combining a successful consolidation strategy with a number of significant acquisitions. Since setting up operations in Trinidad and Tobago in 1989, some of its major acquisitions are Siderurgica del Balsas (Mexico) in 1992, Sidbec (Canada) in 1994, Karmet (Kazakhstan) and Hamburger Stahlwerke (Germany) in 1995, Thyssen Duisburg (Germany) in 1997, Inland Steel (US) in 1998, Unimetal (France) in 1999, Sidex (Romania) and Annaba (Algeria) in 2001, Nova Hut (Czech Republic) in 2003, BH Steel (Bosnia), Balkan Steel (Macedonia), PHS (Poland) and Iscor (South Africa) in 2004, ISG (US), Kryvorizhstal (Ukraine), as well as a significant interest in Hunan Valin Steel (China) in 2005, and three Stelco...
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...Political: Corruption India is ranked 85th out of 175 countries (China is ranked 100th) which is an improvement of 2 places compared to 2010 where India was ranked 87th. The new Modi government has also vowed to clamp down on corruption which will definitely improve rankings. (e.V., 2015) Policies encourage manufacturing especially automobiles Under the Modi government, the Make in India initiative was launched in September 2015 to promote manufacturing in India. This initiative introduced new tax cuts, streamlined administrative processes and liberalised FDI. (Makeinindia.com, n.d.) * Streamlined regulations (easier to do business) * Manufacturing and imports in this sector are exempt from licensing and approvals. * Unified online portal for: * Registration of Labour Identification Number (LIN) * Submission of returns * Grievance redressal * Combined returns under 8 labour laws * Online portals: * Real-time registration * Payments through 56 accredited banks * Online application process for environmental and forest clearances * 14 government services delivered via eBiz, a single-window online portal * Investor Facilitation Cell established * Dedicated Japan+ Cell established * Consent to Establish/NOC no longer required for new electricity connections * Documents reduced from 7 to 3 for exports and imports * Option...
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...A PROJECT REPORT ON (“A STUDY ON COST COMPARISON ANALYSIS OF TATA STEEL AND ITS COMPETITORS”) SUBMITTED TO MAEER’s MIT SCHOOL OF BUSINESS BY (SOURAV GHOSH HAZRA) 322346 32ND Batch IN PARTIAL FULFILLMENT OF POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM) Finance APRIL-MAY 2015, MAEER’s MIT SCHOOL OF BUSINESS PUNE CONTENTS Chapter No. Title Page No. Declaration from the Student Certificate from the Organization iv Certificate from the Guide v Acknowledgement vi List of Tables vii List of Graphs viii List of Abbreviation ix Executive Summary I iii x INTRODUCTION 1 – 11 1.1 Company profile 1.2 Objectives of the Study 12 1.3 Limitations of the study 12 II RESEARCH METHODOLOGY 2.1 Primary data 13 2.2 Secondary data 13 2.3 Sample design 13 2.4 Sample Size 13 2.5 Method of Data Collection 14 III THEORETICAL BACKGROUND 3.1 Data analysis Techniques IV DATA PROCESSING AND ANALYSIS 25 – 45 V MANAGEMENT LESSONS 46 - 49 VI FINDINGS 50 VII RECOMMENDATIONS 51 VIII CONCLUSION 52 Bibliography Annexure/Appendices 15 – 24 24 DECLARATION I, Mr. SOURAV GHOSH HAZRA hereby declare that this project report is the record of authentic work carried out by me during the period from 7th April to 2th June and has not been submitted to any other University or Institute for the award...
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...Daniel James Kate Reed English Comp 10 December 2014 End Protectionism. Table of Contents Section 1: Introduction---------------------------------------------------------------------------------- 3 Section 2: What is Protectionism?-------------------------------------------------------------------- 3-9 Section 3: Why does it occur? ------------------------------------------------------------------------- 9-10 Section 4: Arguments For ------------------------------------------------------------------------------10-13 Section 5: Conclusion------------------------------------------------------------------------------------13-15 Works Cited-----------------------------------------------------------------------------------------------16 Section 1: Introduction The United States should institute a blanket reform of its international trade policies. Its current protectionist practices are both in violation of current World Trade Organization suggestions and mandates and, far from being beneficial to the American economy, for the most part serve to hurt both American and foreign consumers. There are few American markets not protected in some way by the Federal Government in the form of tariffs, quotas, or domestic subsidies. While these practices are touted as an aid to domestic manufacturing process, true economic analysis shows that most if not all protectionist measures actually serve to limit economic growth. The arguments given to justify protectionism range from...
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...and Energy Restoration Office of Electricity Delivery and Energy Reliability U.S. Department of Energy April 2014 Update Large Power Transformers and the U.S. Electric Grid This page intentionally left blank. DOE / OE / ISER April 2014 ii Large Power Transformers and the U.S. Electric Grid FOR FURTHER INFORMATION This report was prepared by the Office of Electricity Delivery and Energy Reliability under the direction of Patricia Hoffman, Assistant Secretary, and William Bryan, Deputy Assistant Secretary. Specific questions about information in this report may be directed to Dr. Kenneth Friedman, Senior Policy Advisor (kenneth.friedman@hq.doe.gov). Tiffany Y. Choi of ICF International contributed to this report. The U.S. Department of Energy would like to acknowledge the following reviewers for their contribution to this report: ABB American Transmission Company Bartley, William H., Hartford Steam Boiler Inspection and Insurance Company, A member of the Munich Reinsurance Company North American Electrical Reliability Corporation Ontario Power Generation Scott, Daniel U.S. Department of Commerce U.S. Department of Homeland Security U.S. Federal Energy Regulatory Commission Cover photo sources: Large power transformer photo: Siemens.com High-voltage transmission lines photo: Utilities-me.com DOE / OE / ISER April 2014 iii Large Power Transformers and the U.S. Electric Grid Table of Contents List of Figures ...........
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...NUCOR STEEL Nick Hartnett & Matt Ketellapper FNCE 4820 Professor Madigan 4/7/2011 “The safest, highest quality, lowest cost, most productive, and most profitable steel and steel products company in the world.” - Nucor Mission Statement Executive Summary Nucor Corporation (“NUE” or “the Company”) is the second largest steel manufacturer and fabricator in the US. Key Drivers of Value 1. 2. 3. 4. Increasing steel spot price Successful economic recovery Government protection Cost control mechanism Key Risks 1. 2. 3. 4. Steel & scrap prices Cyclicality Exposure Foreign competition & government policy Other raw materials prices DCF Valuation Discounted cash flow valuation produced a stock price of $66.22 per share, indicating that Nucor is undervalued. A bull market scenario could reach a stock price of $120.62 and a bear market scenario could reach $28.85 per share. Multiples Analysis Multiples analysis based on P/CF, P/E, P/BV, P/S, EV/EBITDA produced an average stock price of $52.74, indicating that NUE is currently undervalued. The strongest multiples were P/CF and EV/EBITDA. Base Volume G-rate Composite price G-rate Total Capacity G-rate 10 year Average Growth Stock Price Bear Volume G-rate Composite price G-rate Total Capacity G-rate $ 4% 2% 4% 66.22 Volume G-rate Composite price G-rate Total Capacity G-rate Stock Price Bull $ 8% 11% 9% 258.04 Stock Price $ -4% -4% 0% 28.85 Volume G-rate Composite price G-rate Total Capacity...
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...Qin GBA 490 NUCOR PRESS (EXTRA CREDIT) Daniel R. DiMicco To Retire As Executive Chairman of Nucor; John J. Ferriola Named Chairman Effective January 1, 2014. In November 05, 2013, Daniel R. DiMicco has announced he will retire from as Executive Chairman of Nucor and also from the Board of Directors of Nucor. Board of Directors also announced that John J. Ferriola will become the new Executive Chairman of Nucor in January 1,2014. This is a significant drive force change of Nucor Corporation. The change of top management in a corporation will lead to the different business objective and market position because of the different management model. DiMicco was longest in the position of Executive Chairman of Nucor Corporation. Back to the growth of Nucor Corporation in those years, it is no doubt that the management of DiMicco was successful. Beginning as an economic slump, DiMicco has restructured the steel industry in the United States. During his tenure, the business strategy of the Nucor is growth strategy. Under his management, the total return growth of Nucor is 720% was greater than other steel groups in the United States (ex: S&P Steel Group). For the growth strategy in Nucor Corporation, it is includes “optimization of existing operations, growth through acquisitions, greenfield growth, international growth through joint ventures and expansion of control over raw materials”. In 1992, Ferriola as a manager of maintenance & engineering joined Nucor. During...
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