Steel Sector

Ashish Kacholia portfolio stock: Man Ind soars 15%; zooms 222% from Feb low

Man Industries management believes it is well poised to grow at a 22-25% CAGR over the next 3-4 years, with margin expansion of 150-200 basis points over the same period.

Domestic steel prices hit four-year high, trend to continue in H2: Report

Domestic steel prices have touched a four-year high due to costlier raw materials, especially coking coal, coupled with rise in post monsoon demand, according to market research firm BigMint. The trend is expected to continue over the remaining quarters of the ongoing fiscal year, it said in a report. Hot rolled coil (HRC) and CRC -- two of the most common types of flat steel products used globally -- are trading at Rs 64,000 per tonne and Rs 75,000 a tonne, respectively. Such levels were last seen in June 2022, BigMint data showed. From August 1, prices of HRC and CRC have increased by Rs 6,000 per tonne and Rs 8,500 a tonne, respectively. HRC and CRC were at Rs 58,000/ tonne and Rs 66,500/tonne at the start of August. The spike in prices is mainly due to rise in key raw materials coupled with an increase in demand, a BigMint analyst said. Coking coal, mainly imported, has seen a surge of around USD 65 per tonne to USD 305/tonne in just one month. While iron ore fines have seen a

CSIR-IMMT-led consortium to develop first 100% hydrogen DRI pilot plant

The CSIR-Institute of Minerals and Materials Technology (CSIR-IMMT) will lead a Rs 207-crore national pilot project to develop India's first direct reduced iron (DRI) plant running entirely on hydrogen, aimed at reducing carbon emissions from the steel sector, a senior official said. The 20-tonne-per-day pilot project has received in-principle approval from the Ministry of Steel and the Ministry of New and Renewable Energy (MNRE). It will receive Rs 113 crore in government support under the National Green Hydrogen Mission, with the remaining funding to be contributed by consortium partners. CSIR-IMMT Director Ramanuj Narayan told PTI that the facility is expected to be completed by August 2029 and will focus on developing and demonstrating hydrogen-based DRI technology suited to Indian conditions, particularly the use of domestic iron ore. The consortium led by CSIR-IMMT includes Godavari Power and Ispat Ltd, Lloyd Steel, Jindal Stainless and Thyssenkrupp Industries India. Tata St

Steel sector outlook strengthens as demand holds firm, input costs ease

Steelmakers expect strong domestic demand and volume recovery to support growth, while softer input costs and downstream investments could aid margins in H2FY27

'Sunset industry' that became the frame for India's post-reforms growth

Once labelled a "sunset industry", India's steel sector has been transformed by liberalisation, private investment and consolidation into a key driver of the country's growth

Safeguard duty, higher prices to keep steel makers' profitability steady

Crisil Ratings expects steel makers to maintain stable profitability in FY27 as higher domestic steel prices and safeguard duty offset rising coking coal, energy and logistics costs

Elevated coal costs seen capping Q1 margin recovery for steel firms

Steel producers are expected to post weaker-than-expected Q1 margin recovery as higher coking coal, freight and operating costs offset gains from stronger domestic steel prices

Govt rebuts US claims of excess capacity in steel and textile sectors

Low domestic consumption levels belie overcapacity allegations, says commerce ministry

JSW Steel Q4FY26 net profit surges on one-time gain from BPSL sale

Company plans to raise India steelmaking capacity to 62 MTPA by FY32 as quarterly revenue and sales hit record highs

SAIL's Rourkela plant posts record output across key units in FY26

Rourkela Steel Plant achieves record output across key units and improves efficiency metrics, driven by higher capacity utilisation and operational stability in FY26

Anand Rathi upgrades Tata Steel to 'Buy' on strong outlook; sees 24% upside

Anand Rathi has revised the target price for Tata Steel to ₹240, based on FY28e SoTP valuation

AM/NS India CEO Dilip Oommen to retire; Amit Harlalka named successor

AM/NS India CEO Dilip Oommen will retire on June 30 after over two decades, with CFO Amit Harlalka set to take over as chief executive from July 1

West Asia crisis: Jindal Steel doubles Angul complex capacity to 12 MTPA

Jindal Steel doubles Angul complex capacity to 12 MTPA, strengthening domestic production and reducing import dependence amid global supply disruptions

Jindal Stainless commissions Indonesia melt shop, plans ₹900 cr capex

Jindal Stainless has commissioned a 1.2 MTPA melt shop in Indonesia and plans Rs 900 crore investment to expand downstream cold rolling capacities

Tata Steel set to gain from India growth, lower global costs outlook

Strong domestic demand, protectionist policies in key markets and cost efficiencies position Tata Steel to benefit despite global headwinds and price volatility

Govt to make carbon trading compliance mandatory for steel sector

A senior steel ministry official says mandatory compliance under the Carbon Credit Trading Scheme will begin soon, as India moves to lower emissions and set plant-specific targets

Public procurement mandate could unlock 16 MTPA green steel demand: CII

A 26% green steel mandate for public projects could cut emissions sharply while raising total project costs by only 0.2-1.2%, a CII report says

SAIL moves court after CCI flags suspected cartelisation in steel industry

SAIL has sought detailed findings from the CCI after the regulator indicated suspicion of cartelisation among major steelmakers, prompting the PSU to initiate legal steps

Steel stocks SAIL, Tata, JSL, JSW, Jindal gain up to 2%; here's why

The policy support, safeguard measures, and the likelihood of regulatory adjustments are improving industry visibility, say analysts.

Vedanta Q3 Preview: What to expect from metal major in this quarter?

Vedanta Q3 Preview: Analysts see robust performance from the aluminium, zinc and power segments, which is likely to offset weakness in the oil and gas business