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Coal import rises 5% to 52 MT in Apr-May; demand likely to fall in monsoon

India's coal import rose 5.3 per cent to 52.29 million tonnes (MT) in the first two months of the ongoing fiscal as against the year-ago period. The country's coal import was 49.62 MT in April and May in FY24, according to data compiled by mjunction services ltd -- a B2B e-commerce platform from a joint venture between Tata Steel and SAIL. However, coal import in May dropped marginally to 26.19 MT, from 26.57 MT a year earlier. "Coal imports... were down 1.43 per cent as against 26.57 MT imported in May 2023," it said. According to mjunction MD and CEO Vinaya Varma, the demand for imports is likely to remain subdued in the coming weeks due to the onset of monsoon while the production growth should stay healthy in the domestic market. Also, coking coal prices are expected to move up in the seaborne market due to supply tightness and this may impact buyers' interest in the country. Of the total imports in May, non-coking coal imports stood at 17.53 MT, against 18.10 MT imported in

SAIL to make Rs 6,500 cr capex investment in FY25: CMD Amarendu Prakash

Steel Authority of India Ltd will be investing Rs 6,500 crore towards capex during the current financial year as part of its Rs 1 lakh crore investment plan over the next few years, SAIL CMD Amarendu Prakash said on Friday. Speaking to mediapersons on the sidelines of a programme organised by Indian Steel Association here, Prakash said the steel industry approached the government seeking measures to control the dumping of cheap metal by China into India and hoped that steps will be taken to address the menace. "This year, the capex target is Rs 6,500 crore. We also have regular capex on maintaining our facilities, as well as debottlenecking exercises. Most of the capex expansion (Rs 1 lakh crore by 2030) will start flowing from FY26. In the first phase from (the capacity) 20 million tonnes, we go to 35 million tons tonnes per annum by 2031. In the next phase, we will make it 50 million tonnes," the SAIL CMD told reporters. In the past, SAIL management had informed investors about a

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

SAIL-Bhilai supplies 4,000 tonnes of heat-treated rails to Railways

The commercial production of R350 HT rails started at the universal rail mill in October last year after successful trials and clearance from the research wings of SAIL and the Railways

LS poll impact: PSU shares in free fall mode; most stocks hit lower circuit

Government-owned shares witnessed intense selling pressure as analysts feared that the relatively poor showing of the Modi-government may impact its reforms agenda.

PSU shares slump up to 8% as investors book profit, track LS poll results

Shares of state owned companies fell on the BSE in Tuesday's early trades. The BSE CPSE index was down by 8.3 per cent at 4,025 levels.

SAIL Q4 results: Net profit falls 3% to Rs 1,126 cr on softer steel prices

The state-owned firm's consolidated net profit for the quarter ended March 31 declined to Rs1,126 crore ($135.22 million) from Rs 1,159 crore a year earlier

Q4 results: ONGC, Oil India, SAIL among 83 firms to post earnings today

Q4 FY24 company results: IRFC, Bharat Electronics, India Cements, City Union Bank, and VRL Logistics will are poised to release the financial report for the fourth quarter on May 20

SAIL watching Chinese steel imports post US tariff hikes: Chairman

The state-run SAIL has continued to buy steelmaking coking coal from Russia at 75,000 tons per ship

SAIL's Bhilai steel plant to install solar energy systems in premises

Bhilai Steel Plant (BSP) has decided to install solar power generation systems on the rooftops of various buildings in its plant premises and township in Bhilai. The flagship unit of the country's largest steel maker Steel Authority of India Limited (SAIL), BSP, has recently signed a memorandum of understanding with the Chhattisgarh State Renewable Energy Development Agency (CREDA) for the solar power generation project within the unit's premises, a statement issued by the plant management said on Wednesday. The proposed plan shall generate about 2 MW of electricity, it said. Besides, a project of rooftop solar energy systems installation on residences and offices in the township is also underway, which has the potential to generate about 3 MW of electricity, it said. Upon completion, the two projects shall lead to a reduction in as much as 2,900 tonnes of Carbon Dioxide emission every year, thereby helping in environment conservation, it said. On May 9 this year, a Power Purchase

SAIL-Bhilai to set up Chhattisgarh's first 15-Mw floating solar plant

The first solar project of NSPCL will open avenues of green energy portfolio for NSPCL while helping SAIL in green steel production

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.

SAIL-Bhilai supplies over 7,300 tonnes steel for Sela tunnel project

The total volume of steel supplied by SAIL for the project is 24,216 tonnes

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.

SAIL at 14-yr high; Can steel stocks extend rally? Here's what charts say

The Nifty Metal index has gained 6% in the last 3 days outperforming the benchmark Nifty. Here's a technical outlook on SAIL, Tata Steel, JSW Steel and Jindal Steel.

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.

'Procurement from govt's GeM portal likely to reach Rs 4 trn this fiscal'

The procurement of goods and services from the government portal GeM will cross Rs 4 lakh crore by the end of this fiscal due to higher buying activities by various ministries and departments, a senior government official said on Monday. The government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and departments. "As of today, the procurement has crossed Rs 3 lakh crore and going by the trend, the procurement this fiscal will reach Rs 4 lakh crore," GeM CEO P K Singh told reporters here. In 2021-22, the procurement value stood at Rs 1.06 lakh crore. It crossed Rs 2 lakh crore last year. Singh said that the share of Central Public Sector Enterprises (CPSEs) such as Coal India in the total buying of goods and services is increasing at a healthy rate. More than 245 CPSEs, including Coal India, SAIL, NTPC and SBI, are participating in the process. GeM has over 63,000 government buyer organisa

SAIL's IISCO steel plant may infuse Rs 20,000-24,000 cr in Bengal

Steel Authority of India Ltd (SAIL) may invest Rs 20,000-24,000 crore in setting up a four-million-tonne greenfield steel plant at its IISCO plant in West Bengal, officials said. It plans to produce high-end flat hot rolled coil (HRC), including for automotive applications, at its existing site at Burnpur and has received in-principle approval, they added. "We have received in-principle approval for the greenfield plant which will produce flat HR coils, targeting grades like API (American Petroleum Institute) and automotive among others," IISCO steel plant director-in-charge Brijendra Pratap Singh told PTI. "Board approval is still awaited, but expected shortly," he said. Singh added that the exact capex and investment details would be finalised after the tendering process. After numerous delays and discussions regarding potential foreign partners for a joint venture, SAIL has finally decided to undertake the flat steel expansion project independently, likely relying on imported .

Chhattisgarh's SAIL-Bhilai Steel Plant creates a national record

BSP's Steel Melting Shop 2 produces cast blooms from its bloom casters. The blooms are then rolled into rails at Rail and Structural Mill

3 directors of SAIL, NMDC suspended for misconduct with immediate effect

The Steel Ministry has suspended two board-level officials of steel PSU SAIL and one director of iron ore major NMDC for alleged misconduct, according to exchange filings by the companies. SAIL also has suspended 26 other officials with immediate effect for violation of its code of conduct, the steel PSU said in a filing to BSE. The filing said the Ministry of Steel vide its letters dated January 19, 2024, "in exercise of the powers conferred by sub-rule (1) of Rule 20 of the Conduct, Discipline and Appeal Rules, 1977 of Steel Authority of India Limited, has placed V.S. Chakravarthy, Director (Commercial) and A.K. Tulsiani, Director (Finance) on suspension with immediate effect". Another Steel Ministry PSU NMDC also announced that its board-level official, V. Suresh, has been suspended with immediate effect. "Ministry of Steel...in exercise of the powers conferred by sub-rule 1 of Rule 20 of the Conduct, Discipline and Appeal Rules, 1978 of NMDC Ltd. has placed V. Suresh, Director