Page 2 - Steel Producers

Roll-back of export duty on steel has no near-term earnings upside: Experts

Analysts perceive the roll-back of export duties on steel as a valuation re-rating event, rather than an earnings upgrade trigger

Steel stocks firm after export duty removal: GPIL, SAIL climb up to 19%

According to analysts at ICICI Securities, the removal of export duty augurs well for domestic steel players over a longer term horizon

ESL Steel capacity expansion by next year: Vedanta's Sunil Duggal

Mining giant says priority is to finish doubling capacity of company it acquired in June 2018

Sanjeev Gupta's Liberty Steel nears deal with Credit Suisse, Greensill

Gupta's sprawling group of metals firms, gathered under a loose umbrella called GFG Alliance, were pushed to the brink when Greensill collapsed in March 2021

AM Mining India completes acquisition of debt-ridden Uttam Galva Steels

AM Mining India Pvt Ltd, part of ArcelorMittal and Nippon Steel joint venture, completed the acquisition of Uttam Galva Steels Ltd, a downstream steel manufacturer in Maharashtra

JSW Steel eyes 50 MT capacity by 2030 via greenfield, brownfield options

Jindal's growth plans are in sync with the country's target of doubling crude steel capacity to 300 mt of crude steel capacity in the next 9-10 years

Listed firms managing liquidity challenges well, says India Ratings

Given the tightening liquidity conditions and higher cost of borrowings, corporates with a weak credit profile are likely to tap a loan against shares facility to meet their funding requirements

JSW Steel logs Rs 848 crore loss in Sept quarter as steel prices fall

Led by an increase in volumes, the firm saw net sales increase by 28.9 per cent at Rs 41,122 crore

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

Steel demand needs 9% CAGR to meet 160 kg/capita consumption target: Icra

The domestic steel demand needs to grow at a compound annual growth rate (CAGR) of 9 per cent over the next decade to meet 160 kg per capita steel consumption target envisaged in the National Steel Policy (NSP). Launched in 2017, NSP also aims to ramp up the country's crude steel production to 300 million tonne (MT) by 2030-31. Jayanta Roy, Senior Vice-President & Group Head, Corporate Sector Ratings, Icra said, India's current per capita steel demand of 76 kg is not only significantly below the world average of 233 kg per capita, but also remains the lowest among Brazil, Russia, India, China and South Africa (BRICS) nations. To take the country's steel consumption close to NSP target of 160 kg per capita in FY2031, the domestic steel demand would need to grow at a CAGR of 9 per cent in the next decade, the expert said in an Icra report on Wednesday. He further noted, "This is almost double the growth rate achieved in the decade gone by. While achieving this milestone will be ...

Govt scraps sale of SAIL's Bhadravathi plant on low bidder interest

The government on Wednesday scrapped the privatisation of SAIL's Bhadravathi steel plant due to insufficient bidder interest. The Expression of Interest (EoI) for selling SAIL's 100 per cent stake in Visvesvaraya Iron and Steel Plant (VISP), Bhadravathi in Karnataka, was invited on July 2019. The Department of Investment and Public Asset Management (DIPAM) said multiple EoIs had been received and qualified bidders had conducted due diligence. "However, due to insufficient bidder interest in proceeding further with the transaction, Government of India, with the approval of Alternative Mechanism (Empowered Group of Ministers) has decided to annul the EoI and thereby terminating the present transaction," DIPAM said.

Coal crisis hits SAIL's Bhilai steel plant output in Chhattisgarh

A stranded ferry from the Visakhapatnam port is cited to be the reason for plunging it into a deep crisis.

Coking coal price rise likely to delay margin recovery of steelmakers

The domestic market has also seen a sharp correction in steel prices from peak levels

CRISIL SME tracker: Export duty will hurt large steel players, spare MSMEs

MSMEs, which make up 90-95 per cent of re-rollers, witnessed a sharp margin contraction in FY21 owing to iron ore unavailability, and logistics and labour issues, among other factors

India to become world's number one producer of steel: Jyotiraditya Scindia

Union Minister Jyotiraditya M Scindia on Tuesday exuded confidence that India will become the number one producer of steel in the world in the days to come. India is the world's second largest producer of crude steel after China. The minister was speaking during a conference on Indian minerals and metals industry organised by NMDC and Ficci. He was of the view that India has moved from becoming the net importer of steel to the net exporter of steel. He said India's per capita consumption of steel has increased from 57.8 kg in 2013-14 to 78 kg. The government intends to achieve 300 million tonne (MT) of steel production target by 2030, Scindia said. Steel across the world is the primary sector which results in economic, capital and infrastructure growth. "Our target policy and focus also has been to turn India from just another player in the steel sector to becoming a force to reckon with," he added.

As China's property crisis deepens, experts see a silver lining for India

The crisis that started with the collapse of real estate giant Evergrande has become worse for China, with several property giants now showing signs of potential loan defaults

Tata Steel Europe: A tale of 2 plants and their transition to green future

Both the Netherlands and UK facilities have turned around but the transition to a green steel future may differ

Coal crisis: Steel makers in Chhattisgarh look to enhance supply

The mineral-rich state contributes about 20 per cent to the country's secondary steel output

Growth capex to stay despite slow demand; JSW hopes for a rebound in Q3

A combination of factors made the operating environment in Q1 challenging

Next British PM to decide fate of Tata Steel UK's demand for subsidy

Tata Steel seeks 1.5 bn pounds subsidy to keep operations afloat