Countries that have free trade agreements with the US, such as Singapore and South Korea, are safer with respect to Trump's reciprocal tariff threat, analysts at Nomura said.
Tata Steel on Tuesday said it has invested significantly in cutting-edge generative Artificial Intelligence (AI) platforms and built over 550 models to enhance output, productivity and quality. The steel giant claimed that it is at the forefront of technological transformation through the integration of AI and industry technologies. "In the last 5-6 years, the company has built over 550 AI models for enhancing yield, energy, throughput, quality and productivity, stakeholder experience, safety, and sustainability," the company said in a statement. The steelmaker also said, "The company has invested significantly in cutting-edge generative AI platforms which are now powering automated insights, conversational interfaces, and addressing hard-to-solve use cases by combining the abilities of conventional (mathematical) AI with the creative capacities of Generative AI." By focusing on AI's practical applications, Tata Steel continues to redefine the industry with initiatives that combine
JSW Steel is expected to face a challenging Q3FY25, with analysts forecasting weaker earnings due to softer steel prices and subdued demand
Shortage of Cold-Rolled Grain-Oriented (CRGO) steel used for making transformers and electric motors could impact India's ambitious power sector expansion plans, think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said that India's power sector is facing a 30 per cent shortage of CRGO steel, essential for electric motors and transformers. With domestic production meeting only about 10-12 per cent of demand, India relies heavily on imports, it added. It said the immediate cause of the CRGO steel shortage is import uncertainty caused by the delayed license renewals by the Bureau of Indian Standards (BIS) for many foreign suppliers from Japan, South Korea and China. Many of the licenses are set to expire soon, causing shortages and uncertainty in the power sector, it said, adding that foreign suppliers require BIS certification under a Quality Control Order, which ensures quality but restricts options to a few approved grades and vendors. The entire BIS proces
Steel consumption in China could even contract, according to ArcelorMittal, which lowered its 2024 forecast to a range of -1 per cent to +1 per cent
Steel demand has been buoyant in India, the world's second-biggest crude steel producer
Auto components major Bharat Forge Ltd on Wednesday reported a 77.8 per cent rise in consolidated net profit at Rs 227.12 crore in the fourth quarter ended March 31, 2024, riding on higher sales. The company had posted a profit of Rs 127.74 crore in the corresponding period of the previous fiscal, Bharat Forge said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 4,164.21 crore as against Rs 3,629.05 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 3,843.55 crore as compared to Rs 3,469.05 crore in the same period a year ago. The Board of Directors at its meeting held on May 8, 2024, recommended a final dividend of Rs 6.50 per equity share of the face value of Rs 2 for the financial year ended March 31, 2024, subject to approval of shareholders at the ensuing annual general meeting, Bharat Forge said. For the fiscal ended March 31, net profit was at Rs 910.16 crore as compared to
Surya Roshni, Gallantt Ispat, Sarda Energy & Minerals, Welspun Corp and Vardhman Special Steels (VSSL) have surged between 5 per cent and 11 per cent in Thursday's intra-day trade
India imported 6.7 million metric tons of finished steel between April and January, up 35 per cent from a year earlier, the data showed
Indian Metals & Ferro Alloys Ltd (IMFA) has posted manifold jump in its consolidated net profit to Rs 108.95 crore in the December quarter, pushed by higher income. It had clocked a profit of Rs 11.04 crore in the October-December period of 2022-23 financial year, the company said in an exchange filing on Tuesday. The company's total income rose to Rs 695.02 crore over Rs 631.84 crore in the year ago quarter. Its expenses reduced to Rs 549.44 crore from Rs 605.61 crore in the third quarter a year ago. Subhrakant Panda, Managing Director, IMFA, said, "The third quarter earnings numbers are creditable in a difficult global environment where stainless steel demand has been muted and ferro chrome prices have softened, though costs have come down significantly too. The moderation in the Chinese economy has had an impact across the commodities spectrum but we do not expect any further downside." Bhubaneswar-based IMFA is a leading integrated producer of value added ferro chrome with ...
Tata said it would offer a 130 million pound support package to help affected employees retrain and find new jobs
Revenue from operations at Rs 9,127.45 in Q3FY24 crore was higher from Rs 9,062.50 crore in the same period last year
Hi-Tech Pipes Ltd has posted a 42 per cent rise in its consolidated net profit to about Rs 16 crore in March 2023 quarter, backed by higher revenues. It had clocked a consolidated net profit of Rs 11.22 crore in the January-March quarter of 2021-22, the company said in a statement on Sunday. Its revenue from operations increased 18 per cent to Rs 701.85 crore from Rs 594.77 crore in the year-ago quarter. Its Chairman and Managing Director (CMD) Ajay Kumar Bansal said, "During this quarter, we have registered the highest-ever sales volume, revenue, PAT and EBIDTA. Net working capital days of the company have reduced substantially to 48 days". The company's greenfield facility of large diameter pipes at Makhiyav, Sanand in Gujarat is expected to start commercial production from the third quarter or Q3 of FY24, he said. In Q4 FY23, "the sales volumes increased by 26 per cent y-o-y to 1.07 lakh tonne (LT), and EBITDA rose by 13 per cent to Rs 33.75 crore," the company said. Uttar ...
The company said that the revenue growth in Q3FY23 was driven by volume and price growth in both sponge iron and iron ore
In the past three months, the stock rallied 75 per cent, as against 8 per cent rise in the S&P BSE Sensex
Arjas Steel, formerly Gerdau Steel, on Wednesday announced a Rs 610 crore capex to increase its annual production capacity to 5.5 lakh tonne, adding over 37.5 per cent to its existing capacity across its Andhra and Punjab plants. The company operates two plants at Tadipatri in the Anantapur district of Andhra Pradesh and at Mandi Gobindgarh in Punjab. The Andhra plant has a current capacity of 3 lakh tonne while the Punjab facility, which it acquired in November 2020 for about Rs 100 crore produces 1 lakh tonne per year. Of the total capex, around Rs 350 crore will go into the Tadipatri plant expansion and the rest Rs 260 crore will go into the Punjab unit, Sridhar Krishnamoorthy, managing director said in a statement. The company said the capacity additions will be completed in 2025. Arjas supplies steel to energy, automotive, Railways, and defence units as well as exports. In Tadipatri, investments include a new Kocks sizing block from Germany which will help improve quality and
The committee has identified five key ratios with different limits across sectors
Policy shift part of govt's atmanirbhar push
These five sectors are textiles, chemicals, electronics, steel and pharmaceutical
The Economic Survey 2019-20 points to increasing steel production and consumption and easing of crude prices, indicating positive outlook for steel and oil and gas sectors, Union minister Dharmendra Pradhan said on Friday. The Economic Survey, tabled in Parliament by Finance Minister Nirmala Sitharaman, said India produced 64.3 million tonnes (MT) of crude steel and 59.73 MT of finished steel during April-October 2019-20. The sector achieved a growth of 5.2 per cent during April-November period of the ongoing financial year as compared to 3.6 per cent in the year-ago period, it added. In a tweet, Petroleum & Natural Gas and Steel Minister Dharmendra Pradhan said, "#EconomicSurvey also points to increasing steel production and consumption, easing of crude prices all indicating positive outlook for steel and oil and gas sectors." The National Infrastructure Pipeline of Rs 102 lakh crore will facilitate growth, create infra for future and ease lives of common citizens, he said in ...