Page 28 - Steel Industry

US-based firm betters JSW offer in race for Asian Colour Coated Ispat

New US-based bidder offers better deal than JSW

Top headlines: Fitch predicts growth at 9.5% in FY22, AGR hearing, and more

From S&P retaining India's sovereign rating and outlook, SC relief to Amrapali homebuyers to HUL's crorepati club shrinking, here are top news of the day

Covid-19 impact: Tata Steel Dutch workers strike work on job cuts

According to FNV Union, this meant that raw materials were no longer available for the blast furnaces, pellet factory and sinter factory.

Covid-19 crisis: Test for steel industry as domestic demand shrinks

Shrinking domestic demand offers the industry the chance to become globally competitive

Target 300 million tonnes: Steel companies gear up for value creation

Industry majors saw in sick assets an opportunity to expand operations

Earnings drought

Corporate results would get a lot worse in the coming quarters

Hopeful of V-shaped recovery for steel sector: CEO Vedanta Electrosteel

'Expectedly, steel enterprises like ours acquired from the sickbay have suffered major production setback since the outbreak of Covid-19'

Defence reforms: Indian manufacturers looking to ride the opportunity

FM Nirmala Sitharaman had announced a series of measures to boost investments in India's defence and aerospace sector last week as part of the tranche 4 of the Rs 20 trillion economic stimulus

Hit by Covid-19, JSW Steel seeks time to pay for Bhushan Power purchase

As steel prices crash, firm facing winner's curse with Rs 19,700-cr acquisition

Tata Steel resumes talks with Germany's Thyssenkrupp for possible merger

Baosteel, SSAB also in race for German steel firm

Icra revises domestic steel industry outlook to negative from stable

Sees domestic demand for the alloy declining by 20% in FY21

Big ticket infra projects to boost steel demand despite slowdown: RINL CMD

A government task force recently projected total investment of Rs 111 trillion in infra projects over five years to augment infrastructure and create jobs in the country

Steel sector may miss peak order season, wants supply chain opened up fully

The problem is especially acute in the tubes and pipes segment where 30 per cent of India's steel production is used

ArcelorMittal beats first quarter profit estimates, sees sharp drops in Q2

First-quarter core profit (EBITDA), the figure most watched by the market, was $967 million, compared with the average forecast in a company poll of $867 million

Steel output slumps 13% in March due to Covid-19, steepest fall in 8 years

The lockdown also had a profound impact on coal production, which contracted for the first time since 2012

Lockdown extension would only drag the economy down: JSW's Sajjan Jindal

JSW Group Chairman Sajjan Jindal says unless the government takes proactive steps, demand recovery could take 4-5 months.

Coronavirus lockdown: SAIL rings alarm bells over financial position

Impacted by customers in various sectors shutting operations

Steel demand to contract 7.7% in 2020 over coronavirus crisis: ISA

This is in sharp contrast to the earlier projection of 5.1 per cent growth made just a couple of months back, in February.

Idling trucks, staff shortage: Bottlenecks for industries amid lockdown

Close to 3.5 million trucks (along with their drivers and assistants) are off the road - some because of manpower shortage, and some because they are stuck in various parts of the country.

Covid-19 lockdown: 12-hr workday in Rajasthan factories, Punjab may follow

State invokes powers under Factories Act to extend maximum hours to 12 from eight earlier; Other states may follow as move is aimed to ensure production isn't impacted due to reduced workforce