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Steel Sector

SteelMin asks PSUs to match pvt players to ramp up steel production

SteelMin asks PSUs to match pvt players to ramp up steel production

Sun, Sep 16, 2018

Over the policy restrictions on the Central and state governments to buy domestic steel, the minister clarified that there were some exemptions for high quality grade steel that is not available domestically.

Bhushan Steel fourth-quarter loss bigger than stated earlier

Bhushan Steel fourth-quarter loss bigger than stated earlier

Thu, Jul 06, 2017

Bhushan Steel Ltd reported a March-quarter loss that was much bigger than stated earlier in its unaudited results, as the debt-laden steelmaker was hurt by higher costs.

These two companies stand to gain immensely if India goes ahead with steel sector bankruptcies

These two companies stand to gain immensely if India goes ahead with steel sector bankruptcies

Mon, Jun 26, 2017

RBI said, "The Internal Advisory Committee (IAC) recommended for IBC reference all accounts with fund and non-fund based outstanding amount greater than Rs 5000 crore, with 60% or more classified as non-performing by banks as of March 31, 2016. The IAC noted that under the recommended criterion, 12 accounts totaling about 25% of the current gross NPAs of the banking system would qualify for immediate reference under IBC."

TRENDING NOW

SMEs in steel sector hope lower GST on coal will boost margins

SMEs in steel sector hope lower GST on coal will boost margins

Sun, May 21, 2017

The small and medium-sized enterprises (SMEs) in the steel sector are hopeful that the government's tax slab of 5% on coal under the GST will help to increase their production and profit margins.

Thyssenkrupp steelworkers protest against Tata merger plan

Thyssenkrupp steelworkers protest against Tata merger plan

Thu, May 04, 2017

Thousands of Thyssenkrupp steelworkers protested on Wednesday against the German industrial group`s plan to merge its European steel operations with those of India`s Tata Steel.

India Inc's credit quality improves but remains fragile

India Inc's credit quality improves but remains fragile

Tue, Apr 04, 2017

Crisil, in its report, said, "The improvement was driven by firm commodity prices, stable macros, improving capital structure and lower interest costs. Going forward, we expect the gradual improvement in credit quality to sustain."

JSW Steel keen to snap up troubled steel cos for expansion

JSW Steel keen to snap up troubled steel cos for expansion

Sun, Mar 26, 2017

JSW Steel is keen to capitalise on the stress in the sector by acquiring distressed alloy companies so that it can expand its capacity faster, a top official has said.

Demonetisation likely to be credit positive for India, Moody's says

Demonetisation likely to be credit positive for India, Moody's says

Wed, Mar 01, 2017

Progress on the pending Goods and Services Tax (GST) reform and Finance Minister Arun Jaitley's 2017 budget speech to parliament both underscore the government's commitment to reform in the wake of demonetisation.

Business environment becoming challenging for steel sector: SAIL

Business environment becoming challenging for steel sector: SAIL

Sun, Feb 05, 2017

Country's largest steel maker SAIL today said with the business environment becoming extremely challenging for the steel sector, it has identified five core areas, including optimisation of new assets utilisation, to turn impending challenges into opportunities.

Demonetisation: Tata Steel hopes to get back normalcy soon

Demonetisation: Tata Steel hopes to get back normalcy soon

Sun, Jan 01, 2017

Private steel major Tata Steel on Sunday expressed confidence that the situation would be back to normal in the next quarter after the company's performance was impacted temporarily in November last owing to demonetisation.

JSW Steel's shares drop as company reports 'best ever' production

JSW Steel's shares drop as company reports 'best ever' production

Fri, Sep 09, 2016

JSW Steel, on Friday, said that it produced 1.35 million tonne steel in the month of August 2016, its highest ever in any given month. The company said that crude steel production for the given month jumped 27% from 1.06 million tonne in the same month of last year.

Top steel firms' debt level totals record $150 billion

Top steel firms' debt level totals record $150 billion

Thu, Aug 18, 2016

EY said in a report published on Thursday steel firms took on debt as they fought for market share, notably the Chinese steel sector has added about a billion tonnes of capacity since 2000, helping to take global excess capacity to about 700 million tonnes.

India to impose temporary anti-dumping duty on some steel products

India to impose temporary anti-dumping duty on some steel products

Tue, Aug 02, 2016

The Directorate General of Anti Dumping recommended the duties on steel products from China, Japan, South Korea, Russia, Brazil and Indonesia, the statement said.

Rs 3 lakh crore owed to banks: Steel ministry working to revive the sector

Rs 3 lakh crore owed to banks: Steel ministry working to revive the sector

Mon, Aug 01, 2016

Steel sector in India owes Rs 3,00,000 crore to banks, Minister of Steel, Chaudhary Birendra Singh told the Lok Sabha on Monday.

4800 jobs saved: Tata Steel sells European operations to Greybull Capital

4800 jobs saved: Tata Steel sells European operations to Greybull Capital

Wed, Jun 01, 2016

‘All together the business employs 4,800 people – 4,400 in the UK and 400 in France, Tata Steel said.

Steel sector accounts for biggest chunk of NPAs: FM Arun Jaitley

Steel sector accounts for biggest chunk of NPAs: FM Arun Jaitley

Thu, May 05, 2016

The top 50 defaulters of public sector banks had exposure in excess of Rs 1.21 lakh crore as on December 2015.

Two groups emerge to buy Tata Steel Europe

Two groups emerge to buy Tata Steel Europe

Thu, May 05, 2016

Two groups signalled their interest in buying the British assets of Tata Steel on Tuesday, offering hope that thousands of jobs could be saved after weeks of uncertainty.

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