India has also started an anti-dumping probe into overseas supplies of low-ash met coke from Australia, China, Colombia, Indonesia, Japan, and Russia.
The government allows a total of 14,27,166 ton of imports from these countries during July-December period.
Soda ash prices rose globally, leading to a sharp rally in domestic chemical and fertiliser stocks.
The scheme will be effective till June 30, 2025, says DGFT
Prices of soda ash, a key product of Tata Chemicals, are declining on excess supplies in the market
The year 2023 is likely to see sizeable additions of soda ash capacities in the global market
Operating and net earnings jumped as the company benefited from higher prices and realisations
Global soda ash demand is estimated to exceed production by 3 million tonnes per annum till 2025-26, creating conducive conditions for higher prices
Soda ash volumes for Tata Chemicals grew for the second consecutive quarter and prices in the spot market are rising
Resurgence in COVID-19 infections and slowdown in end user markets can delay recovery in its soda ash business
With this acquisition, Tata Chemicals has increased its ownership in Tata Chemicals (Soda Ash) Partners to 100 percent, the company said in statement.
Latest in the Moneycontrol Graphic Spot: The Nirma story.
With completion of the restructuring, the company is now positioned to focus on expansion of core segments amid rapid growth
Volumes for soda ash volumes are expected to remain flattish at 750 tonnes on account of seasonality (rains) factor, says RS Jalan, MD of GHCL.
Ahmedabad-headquartered soda ash and chemicals maker Nirma has been striving to firm up its base in the cement business without much success and the Lafarge deal, though expensive, proves to be a strategic fit in scaling up its capacity significantly from 2 million tonnes currently, experts say.
Market analyst SP Tulsian of sptulsian.com explains to CNBC-TV18 that stocks that offer exciting prospects are the Tamil Nadu-based sugar stocks on the commencement of the second crushing season, Reliance Communication‘s proposed listing of under-sea cable company Flag Telecom and the anti-dumping duty imposed on caustic soda and soda ash.
Tata Chemicals’ unit in North America plans to raise USD 375 million to fund its various expansion projects. The company plans to raise the fund by mid-July, said Tata Chemicals’ chief financial officer, P K Ghose.