Sensex falls 732 points from day’s high to end 181 points lower; here’s why
Jio Financial Services, Reliance Industries, Power Grid, JSW Steel, Larsen & Toubro, and ONGC contributed the most to the losses in Sensex.
Jio Financial Services, Reliance Industries, Power Grid, JSW Steel, Larsen & Toubro, and ONGC contributed the most to the losses in Sensex.
JSW Steel's revenue from operations rose 11% year-on-year to ₹42,213 crore
JSW Steel targets 37 MT a year capacity by March 2025, while Tata Steel wants to double to 40 MT by 2030
Sajjan sees a life beyond steel in areas such as cement, paints, ports, power, EVs and drones among new opportunities thrown open by India’s economic boom.
Indian steel companies face a bumpy road ahead as the external environment becomes more challenging due to elevated inflation, energy prices and rising interest rates.
US-led dollar bloc uses policy tightening to hit back at commodity producers led by Russia. Indian economy feels the heat.
Shares of JSW Steel, Hindalco, Tata Steel, Jindal Steel & Power dropped up to 2% even after the government rolled back export duty on steel and iron ore products.
The EBITDA per tonne of steel companies declined primarily due to steep fall in steel prices
Waning demand of steel in global market forces JSW Steel to cut capex by 25% in current fiscal.
Sajjan Jindal took his company places by acquiring struggling companies during market downturns and focusing on costs and exports.