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.
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JSW Steel Q1 profit soars 189% to ₹2,428 cr
JSW Steel's revenue from operations rose 11% year-on-year to ₹42,213 crore
JSW, Tata in race to build steel capacities; ArcelorMittal-Nippon not far behind
JSW Steel targets 37 MT a year capacity by March 2025, while Tata Steel wants to double to 40 MT by 2030
JSW’s Steel+ Moment
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.
Steel industry's operating profits to contract 45-50% in FY23: ICRA
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.
Commodity Bloc Vs Currency Bloc
US-led dollar bloc uses policy tightening to hit back at commodity producers led by Russia. Indian economy feels the heat.
Govt scraps export duty; here’s how steel stocks reacted
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.
Steel cos post 75-90% decline in EBITDA
The EBITDA per tonne of steel companies declined primarily due to steep fall in steel prices
JSW cuts capex plan 25% due to global quotas, duties distortion
Waning demand of steel in global market forces JSW Steel to cut capex by 25% in current fiscal.
JSW’s Contrarian Bet Maker
Sajjan Jindal took his company places by acquiring struggling companies during market downturns and focusing on costs and exports.
