Iron And Steel Industry

Tata Steel output grows 3% to 7.77 MT in Q4; sales fall 3.43% to 7.59 MT.

Tata Steel India's production increased to 5.15 MT during the said quarter from 4.90 MT in January-March 2021-22 and tts sales rose marginally to 5.15 MT from 5.12 MT a year ago

Govt planning PLI 2.0 to boost production of specialty steel: Scindia

The government is planning to introduce the second edition of the PLI scheme for specialty steel to boost production of value-added steel in the country, Union Minister of Steel Jyortiraditya Scindia said on Friday. The minister was speaking at the PLI Scheme for Specialty Steel MoU signing event in the national capital. It was attended by the companies selected to invest under the Rs 6,322-crore scheme. "Today is an important day in the history and future of the steel industry. PLI 1.0 is not a full stop, it is the beginning of the journey. Our ministry is already looking at PLI 2.0," he informed the participants of the first edition of PLI for specialty steel. The minister further asked the industry stakeholders to share their suggestions and feedback so the next PLI Scheme for specialty steel can be prepared at the earliest. As many as 27 steel companies signed 57 memorandum of agreements (MoUs) with the Ministry of Steel at the event to produce coated/plated steel products, hig

Jamshedpur Steel city is celebrating its 184th Founders Day today

The Tata Founders Day is celebrated on the birth anniversary of Jamsetji Nusserwanji Tata, who founded the Tata group

Essar on a new path of growth, to invest in energy, steel, mining sectors

Armed with substantially lighter balance sheet after repaying Rs 2 lakh crore debt, Essar is embarking on the next phase of growth by investing in hydrogen projects, building LNG import facility and retail chain, and setting up steel plants. Prashant Ruia, director, Essar Capital Ltd, said Essar currently owns businesses in the core sectors of energy, metals and mining, infrastructure, services and technology and its future plans centre around them. It is looking to set up steel plants in Odisha and Saudi Arabia and a facility to import liquefied natural gas (LNG) at Hazira in Gujarat. In the UK, where it owns an oil refinery, the group is setting up a blue hydrogen plant and is exploring opportunities to set up a green ammonia unit in India. Essar has set up a unit to retail LNG to trucks and will set up a chain of outlets dispensing the environment-friendly fuel. "We have completed what is certainly the one of the biggest, if not the biggest, deleveraging exercise by repaying Rs

Lloyds Metals hits new high on robust Q3 results; stock up 67% in 2 months

The company said that the revenue growth in Q3FY23 was driven by volume and price growth in both sponge iron and iron ore

Rama Steel hits new high after it clocks highest-ever sales volume in Q3

In the past three months, the stock rallied 75 per cent, as against 8 per cent rise in the S&P BSE Sensex

Stock of this SME iron & steel products' company has zoomed 117% in 1 month

Rhetan TMT hit a new high of Rs 299.05, having rallied 327 per cent against its issue price of Rs 70 per share

JSW Steel USA secures $182 mn financing for modernising plate mill

Capital arranged by Italian export credit agency, will be used for Indian company's facility in Texas

Tatas mull exit from UK steel business on lack of government support

Tata Sons is considering Tata Steel's exit from its UK operations because of the absence of support from the British government for transition to green energy

JSW Steel net profit falls 85% in June quarter as expenses increase

JSW Steel on Friday posted over 85 per cent fall in its consolidated net profit at Rs 839 crore during the June 2022 quarter, mainly on account of higher expenses

Tata Steel ropes in Australia's BHP to study low-emission steelmaking tech

The partnership aims to help both companies progress toward their climate change goals, and support India's ambitions to be carbon neutral by 2070, the domestic steel major said on Wednesday.

Export curbs, higher energy prices may spike trade deficit further in FY23

Revenues from the export of industrial metals would also take a hit from a decline in metal prices

Steel Association writes to Sitharaman, seeks withdrawal of export duty

Industry should be allowed to fulfill the orders without export duties, say companies.

Welspun Corp hits 52-week high on Rs 5,000 crore order win

With this, Welspun Crop order book as on date (excluding Saudi) stands at 704,000 MT valued at approximately Rs 10,500 crore.

Touch services worst hit in all 3 waves, need Budget support: TV Narendran

The Centre and the states need to work together so that we don't have unnecessary disruptions, while at the same time you don't take unnecessary risks, said TV Narendran

Vedanta mulls value-unlocking through separate listing of businesses

The board has also appointed various advisors to assist in evaluating the options, said the filing

Industry body PHDCCI bats for having regulator to check steel prices

The chairman of the PHDCCI's metals and minerals committee made the request to the government at a session to discuss the issues faced by the stakeholders of the industry

JSW Steel plans to levy surcharge on steel products as input cost mounts

To offset the rising input cost, the domestic steel giant JSW Steel is planning to levy a surcharge

Steel minister Ram Chandra Singh reviews performance of RINL, 3 other PSUs

Union Steel Minister Ram Chandra Prasad Singh on Tuesday reviewed the performance of state-owned RINL, MSTC, KIOCL and MOIL, according to a release.

Tata Steel ramps up financials amid Covid; recommends highest ever dividend

Firm reduced net debt by Rs 29,390 crore taking consolidated net debt to Rs 75,389 crore in FY21