Steel Demand Revival Hinges on Modi Roads-to-Rail Spending Push

A revival in India’s steel consumption from the weakest estimated growth in at least four years hinges on the government boosting spending on infrastructure, housing and road projects to absorb record output. Finance Minister Arun Jaitley will announce Feb. 1 higher outlays for national highways, rural roads, railways and low-cost housing, Goldman Sachs Group Inc. predicted in a Jan. 19 report.

Mistry Steps Down From Tata Companies Amid Fight With Scion

Ousted Tata Sons Ltd. Chairman Cyrus Mistry resigned as director of group companies on the eve of shareholder meetings to remove him and pledged to take the fight with the scion of the $100 billion conglomerate to a “larger platform.” Mistry stepped down as a director in Tata Steel Ltd., Tata Chemicals Ltd., Tata Global Beverages Ltd. and Indian Hotels Co., and as chairman of Tata Motors Ltd., the five companies said in stock exchange filings.