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.
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December 2021
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
Tata Steel aims to switch to recycling scrap in U.K.: CEO TV Narendran
Escalating energy costs in the U.K. burden the steelmaker
NMDC gets MCA approval for demerger of steel unit; stock rises 1%
The Ministry of Corporate Affairs on Tuesday approved the demerger of NMDC Steel from NMDC
The Brief: The Steel Dilemma
The export duty on finished steel products to tame inflation has made Indian companies lose out to global rivals.
JSW’s Contrarian Bet Maker
Sajjan Jindal took his company places by acquiring struggling companies during market downturns and focusing on costs and exports.
India's steel exports to fall 25% in FY23: ICRA
Steel companies are now staring at a significant decline in earnings over the next twelve months.
Manufacturers need to ensure India's minimum reliance on global markets: PM Modi
PM Modi said it is a strange situation that iron ore is exported from India, which subsequently imports steel products from the same countries where iron ore is exported.
SMEs need reasonably priced steel: Piyush Goyal to steel majors
In a meeting held with the steel industry representatives and the actual steel users, Goyal has said that special care of MSMEs needs to be taken for easier and cost-effective supply of steel.
