Page 35 - Ishita Ayan Dutt

JSW Steel's 2 Indian subsidiaries expected to return to profit in Q3 FY23

Global macroeconomic challenges to shape turnaround of JSW Steel and Bhushan Power & Steel

Financial results in H2FY23 will be better than first half: JSW Steel's Rao

In a Q&A, the Jt MD and CFO of the company says the worst is over as higher volumes, better demand and lower raw material cost play out in the coming quarters

JSW Steel logs Rs 848 crore loss in Sept quarter as steel prices fall

Led by an increase in volumes, the firm saw net sales increase by 28.9 per cent at Rs 41,122 crore

ITC Q2 net profit rises 24% to Rs 4,619.77 crore; revenue up 24.4%

The company attributed the performance to strong and broad-based growth across markets and channels

Swiggy Instamart eyeing 100 million user base in next 4-5 years

There are more than 500 brands and 5,000 products on the platform currently

Tea Board modifies order on blending imported with Indian varieties

The Tea Board, in its notification, has kept the sanctity of GI intact and allowed blending only for teas not claiming the GI mark

Tea Board may modify past order on blending, change to help tea firms, TCPL

Existing notification bars blending imported tea with GI-tagged Indian varieties; Sources said commerce ministry left it to the Board to take a reasoned call on modification

India now has 20,000 tonnes per day Oxygen capacity. 90% of it lying idle

There are 1,242 liquid medical oxygen tanks in hospitals across India with a capacity of 15,622 tonnes. This is a 104 % rise in the number of tanks and a 131% increase in storage capacity

NCLT approves resolution plan by Arcelor affiliate for Uttam Galva

Resolution amount was Rs 4,020 cr as per the plan

Bandhan Bank plans to hike exposure of secured loans to 70% by 2025

Currently, 39 per cent of the asset book is secured

Domestic steel prices inching up on rising cost, pick-up in demand

Currency depreciation of over 6% may have supported uptrend; industry players confident that prices have bottomed out

French mineral firm Imerys plans to ramp up Vizag plant production

Will increase calcium aluminates capacity by 2030 to about 50,000 tonnes from 30,000 tonnes currently in line with India's target of achieving a 300 million tonne crude steel capacity

AM/NS India eyes $250-300 mn gain from purchase of Essar group infra assets

The port and power assets are primarily captive to AM/NS' Hazira steel plant in Gujarat, will expand firm's footprint and operating efficiencies

AM/NS India receives environmental clearance for Hazira plant expansion

This increased steel manufacturing capacity represents a significant boost for the government's National Steel Policy, which envisages doubling domestic capacity to 300 MTPA by 2030

Endgame at McLeod Russel amid risk of losing control of last major asset

With two rival bids, the once powerful group that owns the world's largest tea producer is in danger of losing control of its last major asset

Lenders for Srei group companies accept EoI by AM Mining India

Sources indicated that issuing a fresh RFRP meant that the process was being opened to EoI participants

Amid takeover offer, McLeod Russel pins hopes on debt recast plan

CMD Khaitan says banks have been very supportive and have come to a conclusion on what debt restructuring resolution should be

ArcelorMittal Nippon Steel India joins race to buy Srei group firms

Sources close to the development said whether new participants who were not part of the original list of EOI would be allowed will have to be evaluated

Invest in India story, MSME sector must be promoted: Goyal to industry

Goyal's comments come after Union Finance Minister, Nirmala Sitharaman, recently asked India Inc what is stopping them from investing

Birla Corp to invest $1 bn over eight yrs, raise capacity to 30 mn tonnes

Current consolidated capacity is about 20 mn tonnes; mix of greenfield and brownfield projects, de-bottlenecking existing operations to help add another 10 mn tonnes