Page 2 - Metal Sector

Metal index corrects for 4th day in a row; NMDC, Tata Steel slips up to 8%

The Nifty Metal index, the top loser among sectoral indices, was down 2 per cent, as compared to the 0.35 per cent rise in the Nifty 50, at 9:53 AM.

Vedanta to establish two not-for-profit industrial parks: Anil Agarwal

Industrialist Anil Agarwal states that an industrial park can greatly increase the competitiveness of manufacturing while bringing down the cost of transporting raw material

India to hold more talks over import curbs on steelmaking raw material

In June, India's federal steel ministry also wrote to the trade ministry to make clear it did not favour limits on imports of met coke, citing risks to domestic output

SAIL, NMDC are down up to 9% in 1 month; is it time to buy steel stocks?

Domestic steel spread is at Rs 24,330 per tonne ( the lowest since March 2024) and the price of hot rolled coil (HRC) is at Rs 51,370 per tonne (the lowest since December 2020), said Dixit

Vedanta gets secured creditors' nod for demerger into six companies

Agarwal tried unsuccessfully to take Vedanta private in 2020, his latest attempt to trim down parent company's debt last year by getting its unit, Hindustan Zinc, to buy some of firm's zinc assets

Germany's new lithium deal aims to reduce Europe's reliance on China

German Chancellor Olaf Scholz was in Serbia on Friday to discuss a tentative deal with the Balkan country to excavate lithium, a mega project that could reduce Europe's dependency on China but one that has been fiercely criticised by environmentalists and opposition groups. Germany, the largest carmaker in Europe, is seeking to secure lithium for its electric vehicle makers as the European Union struggles to reduce its dependence on imports from China. Lithium is a critical substance in making batteries for electric vehicles China currently dominates the supply chain for lithium-ion batteries. The excavation of lithium was back in the limelight after Serbia's constitutional court earlier this month overturned a previous ruling to cancel a USD 2.4 billion mining project launched by British-Australian mining giant Rio Tinto in the western Serbian valley of Jadar, which is believed to be the largest lithium discovery in Europe. The Serbian government's decision to cancel the excavatio

Gold prices hover near 1-month peak as Fed rate cut hopes lend support

The dollar held steady, while long-dated U.S. bond yields rose, as investors weighed whether the assassination attempt on Trump increased his chances of victory

Metal, power producers seek streamlined visa regime for Chinese experts

Domestic metal and power producers argue that many project-critical activities face setback due to visa approval delays faced by foreign experts, especially Chinese OEMs, contractors, and engineers

Tata Steel, SAIL: Analysts give 'sell' call on steel stocks; here's why

Individually, Welspun Corp, and Steel Authority of India dropped 8.5 per cent each, NMDC 4.9 per cent, APL Apollo Tubes 3.8 per cent, and Adani Enterprises 2 per cent in the last one month

Court approves billionaire Anil Agarwal's plan to reclaim Zambia mine

To get access to the mine again, Vedanta now needs to follow the court ruling by releasing $250 million to settle debts that KCM owes to contractors and suppliers

BSE Metal index surges 3% as base metals climb to multi-year highs

Metal stocks top performers: Here's why metal stocks were in demand on the Dalal Street on Wednesday.

Metal shares rally up to 10%; Hindustan Copper, SAIL hit over 12-year highs

The Nifty Metal index hit a new high at 8,984, and was up 2 per cent in Tuesday's intra-day deals. The index has surged 9 per cent in the last one month.

Domestic demand growth for non-ferrous metal may remain 10% in FY25: Icra

Domestic demand growth for non-ferrous metals such as aluminium and copper is likely to remain at 10 per cent in the next financial year, Icra said on Friday. The apparent consumption growth for non-ferrous metals in the domestic market remained at 10-13 per cent in the first nine months of the ongoing fiscal supported by the government's push on infrastructure development and encouraging demand from renewables sectors and electric vehicles. "While the demand is expected to remain soft over the next two quarters as government spending moderates around the general elections, the overall demand growth is expected to remain comfortable at 10 per cent in FY24 and FY25," Icra said in a statement. The operating margin of domestic players is also likely to remain stable at 17-17.5 per cent in FY25, like the levels estimated in FY24. Consequently, the rating agency maintains a stable outlook on the sector, it said. "Icra notes that the domestic e-auction premia on coal had eased in recent

Hindalco, JSW, Tata Steel: Tech charts hint at mixed outlook for metal stks

The NSE Metal index has rallied 3% so far this week, while the Nifty has edged 0.2% higher. Technical charts suggest select frontline metal shares can rally another 14% from present levels.

Metal stocks show mettle; Index jumps over 3% led by SAIL, Tata, JSW Steel

Adani Enterprises, Vedanta, Hindustan Copper, Hindustan Zinc, NMDC, and Nalco were trading higher in the range of 0.2 per cent to 2 per cent

Adani's $1.2 bn Mundra copper plant to boost India's metal production

Billionaire Gautam Adani-led group is building the world's largest single-location copper manufacturing plant at Mundra in Gujarat, which will help cut India's dependence on imports and aid energy transition, sources said. The USD 1.2-billion facility will start operations of the first phase by March-end and full-scale 1 million tonnes capacity by FY29 (March 2029), two sources with knowledge of the matter said. India joins China and other nations that are rapidly expanding production of copper, a metal crucial for transition away from fossil fuels. Technologies critical to the energy transition like electric vehicles (EVs), charging infrastructure, solar photovoltaics (PV), wind and batteries, all require copper. Kutch Copper Ltd (KCL), a subsidiary of the group's flagship Adani Enterprises Ltd (AEL), is setting up a greenfield copper refinery project for the production of refined copper with 1 million tonnes per annum capacity in two phases. For Phase-1, capacity of 0.5 million .

Vedanta Q3FY24 results: Net profit falls over 18% to Rs 2,013 crore

Vedanta Q3 results: The revenue of the company was up 4 per cent to Rs 34,968 crore during the quarter

Bank credit growth to industry decelerates to 6.1% in Nov: RBI data

Growth of bank credit to industry decelerated to 6.1 per cent in November as against 13 per cent recorded in the same month last year, according to data released by the Reserve Bank of India (RBI) on Friday. Among major industries, year-on-year credit growth to basic metal & metal products, food processing and textiles accelerated in November 2023 as compared with the corresponding month of the previous year, while that to all engineering, chemicals & chemical products, and infrastructure decelerated. On the other hand, credit growth to agriculture and allied activities accelerated to 18.2 per cent in November from 14 per cent a year ago. According to the data on "Sectoral Deployment of Bank Credit -- November 2023", personal loan growth decelerated to 18.6 per cent (y-o-y) in November (19.9 per cent a year ago), due to moderation in credit growth to housing. Credit to the services sector grew 21.9 per cent in November as against 21.3 per cent a year ago. Credit growth to ...

Periama completes acquisition of remaining 10% stake in JSW Steel's USA arm

In October this year, JSW Steel announced that Green Suppliers and Services Pte Ltd has approached Periama about their intention to sell their stake in JSW USA

Anil Agarwal's Vedanta announces second dividend of Rs 11 apiece for FY24

Vedanta second interim dividend: The second interim dividend will cost the company Rs 4,089 crore and its record date has been fixed at December 27