Page 37 - Ishita Ayan Dutt

States' Budget demand: 60% GST share, extended compensation period

State finance ministers demanded greater fiscal autonomy through an increase in states' share in goods and services tax (GST) to 60 per cent, from 50 per cent at present

Our investment reflects confidence in India's economy: AM/NS India CEO

ArcelorMittal and Nippon Steel, has embarked on an expansion that includes increasing capacity at its existing location, Hazira in Gujarat, and setting up new plants in Odisha

Warren Tea to exit plantations, plans expansion of IT and hotel businesses

Signs deal with Dhunseri group for the last four estates it currently owns

Export opportunities limited right now: JSW Steel's Seshagiri Rao

Withdrawal of export duty may not increase volumes will boost sentiment, he says

AM/NS India completes Rs 16,500 cr acquisition of Essar group infra assets

The transaction, fully funded by AM/NS India, includes two port assets and a power plant which are now wholly-owned and operated by it

Rs 13K-cr 'sham' transactions were audited, given clean chit: Srei promoter

Concerted effort to financially kill group by using auditors to mis-categorise transactions: Srei promoter

Govt scraps export tax on low grade iron ore, some steel intermediates

The import duty concessions on anthracite/PCI coal, coking coal, coke and semi coke and ferronickel have also been withdrawn.

Inflation moderation key to sustain retail sales growth: Retail body chief

Kumar Rajagopalan of Retailers Association of India sounds hopeful that the industry will grow by 20% in the Oct-Dec wedding season

India, Australia to identify companies in critical mineral space

In the critical minerals space, Australia is the world's largest producer of lithium and the second largest producer of rare-earth elements

NMDC in talks to invest in lithium exploration companies in Australia

Investment would be voa NMDC's Perth-based arm, Legacy Iron Ore, which is already prospecting for iron ore, gold and base metals there

ESL Steel capacity expansion by next year: Vedanta's Sunil Duggal

Mining giant says priority is to finish doubling capacity of company it acquired in June 2018

Auditor flags Rs 13,110 cr of fraud deals in Srei Equipment Finance

Sum includes transactions amounting to Rs 1,283 cr determined as undervalued; Srei Equipment Finance is currently undergoing corporate insolvency resolution process

McLeod Russel Sept qtr net up 6% to Rs 131 cr despite dip in revenues

Revenues from operations at Rs 425.06 crore were lower by 13.93% from the same period last year

Emami Sept quarter net flat at Rs 184 crore, pre-tax profit dips 18%

Company says gross margins shrank 230 bps in Q2FY23 due to inflationary pressures and an unfavourable portfolio mix due to extraordinary high sales of pain management products last year

Tea Board seeks Rs 1,000 crore support for industry for five years

'Tea price trajectory of the last decade reflects a prolonged phase of stagnation in price growth which consequently pushed a large segment of the industry into crisis'

AM/NS India EBITDA drops 62.98% to $204 million in September quarter

ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, reported a 62.98 per cent year-on-year drop (YoY) in EBITDA

AM Mining India completes acquisition of debt-ridden Uttam Galva Steels

AM Mining India Pvt Ltd, part of ArcelorMittal and Nippon Steel joint venture, completed the acquisition of Uttam Galva Steels Ltd, a downstream steel manufacturer in Maharashtra

Marks & Spencer to turbo charge growth rate in India, open one store/month

M&S opened its first store in India in 2001 and in April 2008, it signed a joint venture with Reliance Retail

Aftermath of Russia-Ukraine war dims the sheen on steel industry

But strong domestic demand and cooling raw material prices encourage manufacturers to stay the course on capex plans

Birla Corp posts Rs 56.4-crore net loss in Q2, appoints new MD & CEO

The company said profitability was impaired by a sharp increase in power and fuel costs, which could not be passed on to consumers