BUSINESS
Steel imports surge to a 9-year high amid bargain shipments
After peaking at 18.51 million tonnes in FY22, India's steel exports have been on a decline, falling more than 60 per cent over three years to 6.95 million tonnes in FY25.
BUSINESS
France’s Engie to invest euro 1 billion in Indian renewables this fiscal
The company plans to achieve its 7 GW portfolio target through a combination of government auctions and corporate & merchant power purchase agreements, with focus on high energy sectors
BUSINESS
JSW Steel gets exemption to import key raw material despite curbs
Starting from January, India imposed a ban on unrestricted imports of low-ash metallurgical coke (met coke), introducing country-specific quotas to safeguard domestic producers. The curbs are expected to be in place till June 30.
BUSINESS
JSW Group to invest Rs 50,000 crore in green steel for European markets
Jindal said that the Salav plant will initially use natural gas injection in the blast furnace, with plans to transition to green hydrogen at a later stage. “The plant’s carbon emissions will be reduced to one-fifth of current levels,” Jindal said.
BUSINESS
Tata Steel Nederland's union seeks more clarity on restructuring plan
Analysts estimate that these job cuts could contribute around EUR 180 million towards Tata Steel’s overall cost saving target of EUR 500 million by FY26.
BUSINESS
Steel major ArcelorMittal Nippon gets import exemption for key raw material despite curbs
The JV unit of the world's largest steelmaker had earlier sought relief against the rejection of 168,300 mt of met coke import orders from Indonesia and Poland.
BUSINESS
Trent’s slower Q4 growth reflects high-base hangover in retail and fast fashion cooldown
Uniqlo and H&M saw their India sales grow by 60 percent and 40 percent, respectively, in FY23, but that pace halved in FY24, falling to 31 percent for Uniqlo and just 11 percent for H&M. These brands also saw their bottom lines battered by the shift in discretionary spending patterns.
BUSINESS
US tariff impact minimal for Kalyan Jewellers, says Ramesh Kalyanaraman
The company sources 30-40 percent of the inventory of its New Jersey showroom, the only store in the United States, from within the country, with the rest coming from Dubai, the Kalyan Jewellers executive director has said
BUSINESS
Trump’s tariff hike threatens India’s $11 bn gems & jewellery exports
In FY 2023-2024, India exported gems and jewellery worth $32.85 billion globally, with the US accounting for $9.95 billion or 30.28%. In calendar year 2024, India accounted for $11.58 billion or 12.99% of America’s total gem and jewellery imports worth $89.12 billion.
BUSINESS
Tata Consumer to raise ad spends amid focus on brand building, COO Ajit Krishnakumar says
In January 2024, the Tata group company acquired Capital Foods, known for brands like Ching's Secret and Smith & Jones, and Organic India, a health and wellness player, for a combined enterprise value of Rs 7,000 crore.
BUSINESS
Adani, Birla enter wires and cables market, but cracking distribution holds the key
The share of branded players increased to around 74 percent in FY23 from 61 percent in FY14 and is expected to rise to 80 percent by FY25, according to Motilal Oswal Financial Services.
BUSINESS
Running Late: India's first hydrogen train likely to be launched by June following tech snags
Modifications to the hydrogen train, which is expected to run on the heritage Kalka-Shimla route, will take around two-three months along with testing, following which the train will be launched for commercial use.
BUSINESS
Karat and shift: Sky-high gold prices see buyers turning to affordable jewellery
Gold prices hit fresh record highs on March 20 amid safe-haven buying as investors turned positive on exchange-traded funds due to recession fears in the US.
BUSINESS
Tata steel says nine individuals injured due to accident at Kalinanagar steel plant, flags no impact to production
The incident occured at the steel smelting shop of the integrated steel plant at around 11:30 am, the company said without mentioning the specifics of the incident.
BUSINESS
Analysts mixed on steel duties; EBITDA/tonne may rise, but price hike window limited
Analysts said that as a result of the duties, which are still to be approved by the Union Ministry of Commerce, the earnings before interest, taxes, depreciation, and amortisation (EBITDA) per tonne for steel, a key competitive metric, may increase for steelmakers. However, they also noted that prices had already been increasing for various steel products in anticipation of DGTR's safeguard duty investigation wrapping up
BUSINESS
More trouble for Diageo as CAG points to lapses in liquor quality control in Delhi
In a report on Delhi Liquor policy, CAG has pointed out that Delhi's excise department issued licenses to wholesalers despite compliance lapses.
BUSINESS
Trump's Tariff War: Big steel companies bat for protectionism while smaller players want no import tariffs
Even as steeper tariffs on steel imports into the US came into effect on March 12, India is caught in a fight between the steel biggies and the smaller manufacturers over a safeguard duty.
BUSINESS
Retailers bet big on small stores to battle e-comm, q-comm surge
Smaller box stores — those under 15,000 square feet — are growing at double-digit rates, while larger outlets (over 15,000 square feet) are declining.
BUSINESS
Mahanagar Gas taps two-wheeler OEMs for supply of EV batteries
Earlier this year, Mahanagar Gas tied up with US- based International Battery Company to set up a cell manufacturing facility in Karnataka
BUSINESS
Over 90% F&O traders losing, NSE's derivative contracts still 40x the next exchange, says SEBI's Ananth Narayan
Sebi's Ananth Narayan added that options activity in the derivatives market, especially on expiry days, must be reduced and that SEBI has taken recent steps to curb 'overtrading.'
BUSINESS
JSW-backed O2 power to invest Rs 43,000 cr in renewable projects across Rajasthan, Bihar
Projects in both states are expected to create 200 direct jobs, and production is slated to begin by 2027. The capex announcement comes at a time when raw materials for solar projects, such as cells, are available at much cheaper costs.
BUSINESS
Acme Solar accelerates Rs 17,000 cr 5GW expansion amid falling material costs
The under construction portfolio will have 3.5 GW of FDRE and hybrid capacities. Acme plans to add 350 MW capacity in the January-March quarter, including solar and wind
BUSINESS
Small and mid-sized cement players struggle as market leaders tighten their grip
Although the industry anticipates an upward trend in cement prices, driven by rising rural consumption supported by improved farm cash flows, executives caution that intensifying competition could limit significant price gains.
BUSINESS
Cooling industry warms up for a scorching summer
The companies have indicated that demand in the cooling and water segment would remain strong, led by the infrastructure, industrial, and real estate sectors.
