BUSINESS
Cloudy outlook for Indian chemical firms as cheap Chinese imports flood market
Major domestic players such as Balaji Amines, Aarti Industries and Alkyl Amines reported a 20-50 percent decline in quarterly profit from the year-ago period
BUSINESS
Concerned about spike in imports of Chinese aluminium foil: Satish Pai Hindalco MD
Last year, Hindalco along with Raviraj Foils and Jindal India filed an application on behalf of the domestic industry seeking continuation of anti-dumping duties on aluminium foil imports from China
BUSINESS
HPCL to carve out lubricants business as separate unit to unlock value
The unit, which is almost 50 years old, has more than 350 grades of lubricants, specialty products and greases.
BUSINESS
MC Explains: Why Maharashtra pollution authority is sending notices to cement cos
Infrastructure projects and large-scale building construction and demolition work have generated dust over several parts of Mumbai, escalating the city’s AQI (air quality index) to 156 on October 19. At this time, New Delhi, which is generally considered more polluted than Mumbai, has an AQI of 121.
BUSINESS
Loss and damage fund must be set up to meet climate change goals: ReNew chairman Sumant Sinha
Sinha added that if the fund is not activated, a lot of the smaller countries, especially those which have low-lying coastal areas, islands, etc., can get wiped off the face of the earth.
BUSINESS
Vedanta to raise $1 billion by December end to repay bonds
The conglomerate has bond repayments of $3.2 billion coming up over the next two years. About $2 billion worth of bonds are slated for redemption in 2024 — half of which are due as early as January — and another $1.2 bn in 2025
BUSINESS
BPCL hopes to restart stuck Mozambique project in a couple of quarters
The project has been under force majeure since April 2021 following worsening security situation due to attacks from Islamic State terrorists in the coastal town of Palma in Cabo Delgado province.
BUSINESS
Tata Steel to start talks with unions on UK job cuts, decision not delayed: CEO
There will be an impact on jobs, and Tata Steel's objective is to make sure that it has a sustainable business in the UK and it continues to make steel there, said MD & CEO TV Narendran
BUSINESS
Tata Steel expects margin expansion in India, driven by demand
The India business generated a higher margin of about 20%, Ebitda of Rs 6,841 crore and crude steel production of just over 5 million tonnes.
BUSINESS
REC to tap Japanese bond market by month-end
The company also posted a profit of over Rs 3,700 crore for the second quarter, which it said was the highest ever.
BUSINESS
BPCL swings to profit in Q2, beats estimates as soft crude prices improve marketing margins
The average gross refining margin (GRM) of the PSU oil refining and marketing company was $15.42 per barrel for the half-year ended September 30.
BUSINESS
Chevron and HPCL launch lubricant brand Caltex, eyes OEM partnerships
The launch reflects Chevron's entry into the crowded lubricant market as India witnesses rapid growth in the sector, with buoyant demand from automotive and industrial companies.
BUSINESS
JSW Steel confirms deal talks with Teck Resources unchanged amid India-Canada diplomatic row
The Sajjan Jindal-led steel giant had earlier said that it was considering buying a 20-40 percent stake in the Teck Resources unit.
BUSINESS
JSW Steel sees higher coking coal costs in H2FY24: Jt MD
The company expects that the impact of higher fuel costs may be offset partially by the recent increase in product prices.
BUSINESS
A Delhi-Mumbai story: Which city's air quality is worse?
While the financial capital has been waking to a thick blanket of smog owing to a rapid increase in construction activity, the national capital has been engulfed by clag (fog) in the past three days.
BUSINESS
MC Explains: Is Mumbai facing an air quality crisis?
The ongoing infrastructure projects as well as large-scale building construction and demolition works have spurred dust particles in the air impacting the health of people.
