Iron And Steel Sector
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
 "Lloyds Metals hits new high on robust Q3 results; stock up 67% in 2 months")
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
 "Rama Steel hits new high after it clocks highest-ever sales volume in Q3")
Arjas Steel to invest Rs 610 cr to augment capacity to 0.55 million tonne
Arjas Steel, formerly Gerdau Steel, on Wednesday announced a Rs 610 crore capex to increase its annual production capacity to 5.5 lakh tonne, adding over 37.5 per cent to its existing capacity across its Andhra and Punjab plants. The company operates two plants at Tadipatri in the Anantapur district of Andhra Pradesh and at Mandi Gobindgarh in Punjab. The Andhra plant has a current capacity of 3 lakh tonne while the Punjab facility, which it acquired in November 2020 for about Rs 100 crore produces 1 lakh tonne per year. Of the total capex, around Rs 350 crore will go into the Tadipatri plant expansion and the rest Rs 260 crore will go into the Punjab unit, Sridhar Krishnamoorthy, managing director said in a statement. The company said the capacity additions will be completed in 2025. Arjas supplies steel to energy, automotive, Railways, and defence units as well as exports. In Tadipatri, investments include a new Kocks sizing block from Germany which will help improve quality and
 "Arjas Steel to invest Rs 610 cr to augment capacity to 0.55 million tonne")
Ferrous, non-ferrous firms will have to iron out loan-rejig challenges
The committee has identified five key ratios with different limits across sectors
 "Ferrous, non-ferrous firms will have to iron out loan-rejig challenges")
Border adjustment tax on imports, infra status for steel on the cards
Policy shift part of govt's atmanirbhar push
 "Border adjustment tax on imports, infra status for steel on the cards")
Govt's crucial move towards nursing 5 sectors back to health amid lockdown
These five sectors are textiles, chemicals, electronics, steel and pharmaceutical
 "Govt's crucial move towards nursing 5 sectors back to health amid lockdown")
Eco Survey gives positive outlook for steel, oil and gas sectors: Pradhan
The Economic Survey 2019-20 points to increasing steel production and consumption and easing of crude prices, indicating positive outlook for steel and oil and gas sectors, Union minister Dharmendra Pradhan said on Friday. The Economic Survey, tabled in Parliament by Finance Minister Nirmala Sitharaman, said India produced 64.3 million tonnes (MT) of crude steel and 59.73 MT of finished steel during April-October 2019-20. The sector achieved a growth of 5.2 per cent during April-November period of the ongoing financial year as compared to 3.6 per cent in the year-ago period, it added. In a tweet, Petroleum & Natural Gas and Steel Minister Dharmendra Pradhan said, "#EconomicSurvey also points to increasing steel production and consumption, easing of crude prices all indicating positive outlook for steel and oil and gas sectors." The National Infrastructure Pipeline of Rs 102 lakh crore will facilitate growth, create infra for future and ease lives of common citizens, he said in ...
 "Eco Survey gives positive outlook for steel, oil and gas sectors: Pradhan")
Iron ore and steel players urge govt to abolish import duty on coking coal
India doesn't have good quality coking coal deposits, leading pig iron and steel manufacturers to lean heavily on imports
 "Iron ore and steel players urge govt to abolish import duty on coking coal")
Iron, steel cos' GNPA for PSBs in basic metals 24%: Govt
The Indian steel industry contributes approximately 2 per cent to the country's GDP
 "Iron, steel cos' GNPA for PSBs in basic metals 24%: Govt")
