ANNOUNCEMENTS
Neeraj Akhoury to drive next phase of growth as new MD, says Shree Cement Chairman
Shree Cement aims to scale at least 25 percent or 10 MTPA capacity inorganically in the next five years, said Chairman HM Bangur
ANNOUNCEMENTS
India cement pricing power may remain muted amid consolidation moves: Citi
The Adani Group’s ability to buy small cement companies and service debt at reasonable levels may not encourage price increases, the brokerage says.
ANNOUNCEMENTS
Sanction worries intensify as US seeks to punish Russia for Ukraine escalation
Aluminium price and shares of producers of the metal surge on report that the US is considering sanctions on the metal produced by Russia.
BUSINESS
Adani on the lookout for more cement assets with an eye on the No. 1 slot
The deal, if it goes through, would strengthen Adani Group’s presence in the cement sector. In May, the group acquired Ambuja Cements Ltd. and ACC Ltd. from Switzerland’s Holcim Ltd., becoming India’s second-largest cement maker virtually overnight with an installed production capacity of 67.5 million tonnes annually.
ANNOUNCEMENTS
Sanction worries spark fresh inflationary concerns for aluminium makers
Any ban on Russian aluminium would likely have significant ramifications for metal markets around the world.
BUSINESS
MC Explains | Tata Steel’s consolidation: Packed differently and delivered with a delay
An analysis of how the amalgamation will impact the product portfolio and financials
BUSINESS
India’s power play in semiconductor business – a ticket to becoming global?
India has joined the race to become a chip-making hub, joining other countries that seek to build self-reliance in manufacturing the crucial electronics component.
BUSINESS
Brokerages see little impact of Tata Steel's consolidation move, maintain stance
Key broking houses haven't changed their stance or target price for the Tata Steel stock in the absence of clarity about the financial benefits from synergies, and the timelines involved in the consolidation.
BUSINESS
Tata Steel to amalgamate seven group companies with itself
The 7 companies to be merged are Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF Limited, the Indian Steel & Wire Products, Tata Steel Mining and S&T Mining Company.
ANNOUNCEMENTS
Brokerages laud Adani’s fundraising plan, solid commitment in cement business
Here's a roundup of how key brokerages view the deal and the cement sector’s prospects.
BUSINESS
Cement venture shows our 'unshakeable' faith in India growth story: Adani
The deal's timing is significant. It comes at the “cusp of one of the greatest economic surges seen in the modern world”, he said
BUSINESS
Swiss-based Holcim concludes its sale to the Adani Group for $6.4 billion
According to the CEO of Holcim- Jan Jenisch, this divestment is another step in the transformation to become the global leader in innovative and sustainable building solutions. The proceeds provide the company the firepower to continue its acquisition strategy, he said in a press release.
BUSINESS
All you need to know about Vedanta-Foxconn’s semiconductor plans in India
The semiconductor business is critical to establishing India as an electronics hub and will help attract suppliers and device assemblers to set up a base in India. The investment will create an estimated 100,000 job opportunities
BUSINESS
JSW Steel joins hands with German firm SMS group for decarbonisation drive
The companies have inked a Memorandum of Understanding for implementing the decarbonisation projects across various JSW Steel plants in India
BUSINESS
No winter cheer for Indian steel, even as China plans output cuts
Demand concerns and a supply-surplus situation across Asia will likely lead to a fall in prices going ahead. Indian exports may lose out unless the duty is cut.
BUSINESS
Tweak in mineral concession rules may ease liquidity, but industry needs more reforms: Experts
In the current statutory framework, royalty is included in the average selling price of minerals and it is then computed on an ad valorem basis, leading to double taxation.
BUSINESS
Gautam Adani says India, US need to cooperate on strategic areas to grow bilateral trade
Adani identifies climate change, semiconductors, healthcare, defence and cyberspace as some of the strategic areas for joint progress between the US and India
BUSINESS
Rebound in coking coal prices: What does it mean for the steel industry?
Just when the industry expected margin pressures to ease, coking coal prices started to rise.
BUSINESS
Q2 of FY23 will be better than first quarter; eyeing 'net zero' target: BPCL chairman
The company cannot pass on crude oil price volatility frequently on a large scale but would intervene if crude prices were to go further higher than the prevailing levels, after the discussion with its stakeholders to remain financially comfortable, said AK Singh
BUSINESS
Higher ceiling for iron ore production in Karnataka a right step, but not adequate, say experts
Experts also say the ruling may not have a major impact on volumes and softening prices would adversely affect merchant miners
BUSINESS
MC Explains: What is green steel and why are Indian steelmakers interested in it?
Coal-fired steel plants are one of the largest industrial sources of CO2 pollution. Companies mandated to reduce their carbon footprint are looking at using low-carbon energy sources such as hydrogen, coal gasification or electricity to produce steel.
BUSINESS
Can Shree Cement defend its market share amid Adani-Birla faceoff?
The country’s third largest cement producer is manoeuvring to protect its turf amid a fight in the industry between two billionaires.
BUSINESS
Steel ministry extends deadline for speciality steel's PLI scheme
This announcement marks government's third attempt at extension of PLI scheme and comes on the heels of government hiking the duty on exports of of few steel intermediaries to 15 percent.
BUSINESS
Indian zinc producers in a sweet spot as global majors cut output
Hindustan Zinc and Vedanta are set to benefit as zinc prices surge to a two-month high of $2,840 per tonne and are forecast to climb higher
