Jindal Steel to bid for Australia's Bandanna

New Delhi : Jindal Steel & Power on Thursday posted a marginal decline in its quarterly profit and warned that FY12 may not be a "very good year" as steel consumers, hurt by high interest rate and inflation, slow investments. The company, which has been shortlisted for a bid by Australian coal explorer Bandanna Energy, will make a final bid for it, Sushil Maroo, director and group CFO, told reporters in a conference call, without specifying deadline.