Page 4 - Steel Sector

Relief for Tata Steel as revenues rise faster than liabilities in FY21

Debt reduction led to sharp improvement in leverage ratio

Industrialist Swraj Paul's company to build large steel pipe mill In Texas

Bull Moose Tube, a subsidiary of the London-headquartered Caparo group, has announced plans to build a 350,000 tonnes per year high speed steel and sprinkler pipe mill in Texas

Gadkari stresses on ways to reduce use of cement, steel in road construction

Gadkari said the government officials should positively support new ideas.

JSPL PAT jumps manifold to over Rs 1,900 crore in Jan-Mar quarter

Jindal Steel and Power Ltd (JSPL) reported manifold jump in its consolidated profit after tax (PAT) to Rs 1,900.51 crore during the fourth quarter ended March 2021, mainly on account of higher income

An asymmetric story: Big steelmakers mint money as smaller ones struggle

Large producers with iron ore mines and export markets are thriving in the current cycle but small ones, with access to neither, are struggling

Tata Steel gains 5% on strong operational performance by Tata Steel BSL

Tata Steel BSL's consolidated net profit more-than-doubled to Rs 1,913 crore in Q4FY21, against Rs 913 crore in December quarter (Q3FY21)

Tata Steel hits all-time high; stk soars 25% in a month on ratings upgrade

On Tuesday, March 6, Standard and Poor's raised the credit rating of Tata Steel and its subsidiary ABJA Investment Co from 'B+' to 'BB-'

Tata Steel production remains almost flat at 7.4 mt in Jan-Mar quarter

Domestic steel giant Tata Steel on Tuesday said its consolidated steel production remained almost flat at 7.4 million tonnes (MT) in the quarter ended March 31, 2021.

SAIL shares surge 7% after best quarterly sales in March quarter

Shares of Steel Authority of India Ltd (SAIL) on Monday soared 7 per cent after the company clocked its best ever quarterly sales at 4.27 million tonnes in the latest March quarter.

JSPL sees34% rise in output; sales jump 37% in January-March FY21

Steel producer JSPL on Monday reported a 34.41 per cent rise in its output, and the sales grew 37.41 per cent during the quarter ended March 31.

SAIL hits over 2-yr high on clocking best quarterly production, sales in Q4

Aided by a healthy Q4FY21 performance, SAIL reported its best-ever annual sales volume during the financial year 2020-21

Steel stocks in focus; JSW Steel hits record high, SAIL nears 52-week high

Margins of steel companies are expected to show further expansion in Q4FY21 driven by healthy export order and higher realizations, CARE Ratings said

Ind-Ra revises fiscal year 2022 steel sector outlook to stable

The agency revised its outlook on the domestic steel sector from negative to stable for the fiscal year beginning April 1, 2021

Three seasons and a washout as the Bhushan Power resolution dragged

BPSL was admitted for resolution under IBC in July 2017. On Friday, it came nearer to resolution with majority of lenders voting in favour of JSW Steel's proposal to close the process

Need to increase logistics arrangement for steel sector: ISA

There is an urgent need to increase and improve the logistics arrangement for the domestic steel sector, ISA said

Thyssenkrupp ends talks with Britain's Liberty on steel unit sale

The move comes after Sweden's SSAB last month abandoned plans to buy the Dutch operations of India's Tata Steel

ArcelorMittal reports $1.21 billion net income in Oct-Dec 2020

Global steel giant ArcelorMittal on Thursday posted $1.21 billion net income for the quarter ended December 31, 2020

Unfair to say domestic steel industry is a cartel: Tata Steel's Narendran

The bigger steel players obviously have secured iron ore supply through auctions, says Tata Steel MD

JSW crude steel output increases 2% to 14.32 LT in January

Steel maker JSW Steel has registered a rise of about 2 per cent in its crude steel output to 14.32 lakh tonne (LT) during January

Jindal Stainless third quarter revenue jumps 9% to Rs 3,585 crore

Jindal Stainless Ltd (JSL) said on Thursday its consolidated revenue in Q3 FY21 stood at Rs 3,585 crore, up by 9 per cent year-on-year.The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) totalled Rs 473 crore while EBITDA margin was at 13.2 per cent. The profit after tax was Rs 170 crore.The company said continuous and accelerated deleveraging along with interest rate rationalisation helped bring down the interest cost by 16 per cent over the corresponding period of last year to Rs 117 crore.Besides, the Indian economy gained momentum and registered a faster than expected recovery after the peak Covid-19 period in 2020. The third quarter witnessed healthy revival in end-user segments like automotive, pipes and tubes, and industrial fabrication.Backed by R & D efforts to indigenise various grades in the automotive sector, JSL was able to capitalise on the demand growth in the two-wheeler and passenger vehicle segments. It registered nearly 40 ..