BUSINESS
Tata Steel will aim to lower key debt ratio as it expands in India in FY25: CEO TV Narendran
Tata Steel CEO expects debt levels to largely remain unchanged but hopes to bring down the net debt-to-EBITDA, a ratio that worsened in the March quarter.
BUSINESS
JSW Steel launches Made-in-India JSW Magsure amid robust demand for coated steel
The steelmaker touts to be the first and only Indian steel company to manufacture and market a Zinc-Magnesium-Aluminium alloy coated steel product in the domestic market.
BUSINESS
Tata Steel's board approves Rs 3,000 crore fundraising via NCDs
Tata Steel net debt stands at Rs 77,550 crore as of March 31, 2024.
BUSINESS
Tata Steel Q4 net profit falls 64% to Rs 611 crore, misses estimates
Tata Steel board approved the proposal to infuse funds up to $2.11 billion into a wholly-owned subsidiary T Steel Holdings (TSHP) Singapore, to repay debt and restructuring costs at Tata Steel UK
EXPLAINERS
What is biochar and how can it aid sustainable steel production?
Biochar can be blended with coke used in blast furnaces and can also be added to iron ore pellets, which are then fed into the blast furnace.
BUSINESS
Grasim Q4: Net Profit flat at Rs 1,370 crore amid chemical weakness, temporary JV co shutdown
Grasim Q4 results: On a standalone basis, the company reported loss of Rs 440 crore over impairment charges related to JV firm's temporary closure.
BUSINESS
How the steel industry will benefit from beneficiation of sub-grade iron ore
A move to maximise the use of low-grade iron ore give steel producers a better cost advantage. India's imports of iron ore hit a five-year high of 5.31 million tonnes in FY24.
BUSINESS
JSW Steel to buy 92.2% stake in Mozambique-based mining firm for $73.8mln
The acquisition worth $73.8 million will help JSW Steel to gain access to more than 800 metric tonnes of premium hard coking coal reserves in Mozambique
BUSINESS
JSW Steel Q4 net profit plunges 65% to Rs 1,299 crore amid higher coking coal costs, lower realizations
JSW Steel's Q4 profit slipped even as consolidated crude steel production in the quarter stood at 6.79 million tonnes, which it touts to be the highest.
BUSINESS
RINL losing Rs 40-50 crore revenue a day amid ongoing strike at Adani's Gangavaram port
The battle for fair wages has been choking RINL’s coking coal supply for more than a month, making the decades-old steelmaker struggle to meet statutory payment obligations.
BUSINESS
Vedanta, Tata group to scout for lithium mines in Zambia, Congo
State-run miners Coal India and NMDC are exploring lithium mines in Chile and Australia, mines secretary VL Kantha Rao has said. India is also looking to tie up with Chile for copper assets
BUSINESS
Welsh first minister says he hopes Tata Steel to hold talks with Port Talbot workers soon
Tata Steel announced on April 25 that the steelmaker will proceed with its £1.25-billion investment to build an electric arc furnace in Port Talbot, replacing two blast furnaces and commence closure of the existing heavy end assets in the following months.
BUSINESS
JSW Energy earmarks capex worth Rs 15,000 crore for FY25
JSW Energy is chasing inorganic expansions to fuel growth and is looking at backward integration by getting into manufacturing for wind and solar power equipment to de-risk its growth plans from supply chain disruptions.
BUSINESS
JSW Energy's board approves raising Rs 10,000 cr amid expansion plans
JSW Energy has also proposed to seek an enabling approval from the board members at the ensuing Annual General Meeting to raise funds not exceeding Rs 10,000 crore, as and when required.
BUSINESS
Vedanta plans investments worth $20 bln in India over next 4 years: Chairman Anil Agarwal
The investments would be focused into the glass and semiconductors business, intensifying investments on the electronics side, among others, said Agarwal
BUSINESS
Why are cement prices declining in India? MC explains
Aggressive volume push at the expense of pricing resulted in an about 6% sequential decline in cement prices to Rs 370- Rs 375 on average per 50 kg bag in the fourth quarter.
BUSINESS
UltraTech Q4 results: Net profit rises 35% to Rs 2,258 crore, beats estimates
UltraTech Q4: The cement manufacturer's board has recommended a dividend of Rs 70 a share for FY24
BUSINESS
How will India benefit from Tesla's entry into rooftop solar?
Tesla will hopefully reduce the Indian solar sector's dependence on China by boosting local manufacturing and bringing the latest technology. The company is reportedly scouting for local partners to make its rooftop solar panels in India.
BUSINESS
Tata Steel to go ahead with £1.25-billion investment for Port Talbot furnace
In the FY 2023-24, Tata Steel UK recorded a negative EBITDA of £ 373 million and negative free cashflow of £ 623 million, the steelmaker said.
BUSINESS
Vedanta expects sale of steel business to be done between Q1 and Q2 this fiscal
Vedanta initiated an evaluation of its steel and steel raw material business in June last year amid plans to to focus on its core mining businesses.
BUSINESS
Vedanta Q4 net profit falls 27% on subdued metal prices, high finance costs
The company plans to allocate $1.9 billion for capital expenditure in FY25, with about $800 million for artificial intelligence and power initiatives.
BUSINESS
IOCL extends bid submission dates for first green hydrogen plant to May 7
The company floated a revised tender in March for the facility, which is to come up in Panipat, after the first one was quashed over allegations that the norms were tailored for a joint venture that included IOCL
BUSINESS
Hindustan Zinc plans $300 mn capex for FY25
The miner reported a 21 percent drop in fourth-quarter net profit to Rs 2,038 crore from a year earlier on April 19, as zinc prices remained depressed amid supply outpacing demand growth.
BUSINESS
Demerger will begin after government divests stake: Hindustan Zinc CEO
Moneycontrol had reported last year that the government will dilute about 3.5 percent out of the total 29.5 percent stake via offer for sale (OFS) route
