
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.
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.
The Sensex and Nifty are poised to open sharply lower, in line with global equities as higher-than-expected U.S. inflation stoked fears the Fed will raise rates aggressively.
The Sensex and Nifty are poised to rise, in line with global peers and strong trends on SGX Nifty futures.
The company's revenue from operations jumped 31.8% year-on-year to ₹38,086 crore.
Steel companies are now staring at a significant decline in earnings over the next twelve months.