
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.
The export duty on finished steel products to tame inflation has made Indian companies lose out to global rivals.
The multibagger stock surged 18.6% in intraday on Tuesday to hit a fresh all-time high of ₹120 on the BSE.
The ₹130-crore IPO of Hariom Pipe Industries was subscribed 7.93 times, driven by strong support from retail investor
Robust steel demand and high prices are powering private steelmakers to vie for the public sector steel companies, which are up for sale under the Modi government's 2021-22 disinvestment plan.
Tata Steel to spend ₹11,000 crore; sees European business cash-positive this year.
Consolidated revenue from operations for the July-September quarter rose 34% to ₹43,544 crore.
Steel, IT, FMCG and retail are expected to lead the momentum in revenue growth.
Steel minister Chaudhary Birender Singh believes the future of India’s steel industry lies in innovation.
At the annual Fortune India Next 500 summit, minister of steel Chaudhary Birender Singh says he wants India’s steel industry to be number one in terms of quality in global rankings.