Mumbai: Bhushan Energy Ltd said on Wednesday it has acquired 817,000 shares, or 4.09% equity, of Orissa Sponge Iron and Steel Ltd, at Rs342.85 each through open market purchases. The shares were bought on Tuesday, it said in a disclosure to the Bombay Stock Exchange.
ArcelorMittal’s EPS seen 73% lower this year
London: Per-share profit at ArcelorMittal will be 73% lower this year than it had estimated, Citigroup Inc. said, citing continued weakness in orders and an expected deterioration of demand. Earnings per share or EPS will be 55 cents, against the prior $2.05 (Rs106) prediction, Johan Rode, an analyst at Citigroup in London, wrote on Wednesday in a research note.