Page 2 - Steel Sector

JTL Industries share extends losses, drops 11% in three days; here's why

JTL Industries stock was trading 4 per cent lower at ₹73.82 compared to the previous day's close of ₹76.9 on the NSE

JSW Steel: Expansion, margin revival drive Motilal Oswal to reiterate 'Buy'

The brokerage believes the stage is set for a strong turnaround in JSW Steel's margins and earnings, aided by both internal efficiencies and macro tailwinds.

Pak, Russia sign agreement to revive Pakistan Steel Mills project

Pakistan and Russia have signed an agreement to restore and modernise the Pakistan Steel Mills project, marking a new chapter in cooperation between the two countries, according to media reports. China was also in the race for getting the contract for the Pakistan Steel Mills (PSM) project that was originally built with Soviet assistance. The agreement to revive the PSM in Karachi was signed at the Pakistan Embassy in Moscow on Friday, state-run Associated Press of Pakistan (APP) reported. The project aims to restart and expand steel production, marking a new chapter in bilateral cooperation, the APP said. Special Assistant to Prime Minister Haroon Akhtar Khan, who is currently on a visit to Russia, said, "Reviving the PSM with Russia's support reflects our shared history and commitment to a stronger industrial future." The PSM was originally built with assistance from the former Soviet Union in 1971, and had remained a lasting symbol of Pakistan-Russia ties, a statement issued by

Tariff shocks, China exports challenge Indian steel: Sajjan Jindal

JSW Steel chief flags risks from US tariffs, Chinese exports and global volatility, urging a sustained policy push to ensure competitiveness and fair returns on investment

Sambhv Steel Tubes IPO Day 3 update: Subscription rises 6x, GMP at 14%

Sambhv Steel Tubes IPO Day 3 subscription status: The issue received bids for 163.47 million shares against 49.2 million on offer

Sluggish demand weighs on Indian steel sector, pulls down prices

The monthly average HRC price (excluding Mumbai) was Rs 52,900 a tonne on April 29, according to data provided by BigMint, a market intelligence company

India's dirty furnaces threaten global steel sector's net zero target

While China still dominates in terms of operating capacity, India is the most polluting steelmaker and has the largest pipeline, with more than 350 mn tonnes per year at various stages of development

Tata Steel plans capex of ₹15,000 cr in FY26, majority for Indian projects

Tata Steel has earmarked a capital expenditure of Rs 15,000 crore for its operations in India, the UK and the Netherlands in the current financial year, senior company officials said on Tuesday. Of the total, around 80 per cent will be spent on ongoing projects in India, the company's CEO & MD T V Narendran and Executive Director and Chief Financial Officer Koushik Chatterjee told PTI. "For FY26, we are looking to have a capex of Rs 15,000 crore,' Narendran said. Sharing the break-up, Chatterjee said that while Rs 11,000 crore is planned for domestic operations, around Rs 1,900 crore is planned for the UK, and the remaining is in the Netherlands. Tata Steel's capital expenditure was Rs 3,220 crore in the fourth quarter and Rs 15,671 crore in the full FY2024-25. Tata Steel is ramping up a 5 MTPA blast furnace at Kalinganagar and constructing an electric arc furnace (EAF) in Ludhiana. In the UK, the company has received planning permission for the EAF project at Port Talbot and wil

Jindal Stainless jumps 3% as MOFSL initiates coverage, 26% upside seen

Jindal Stainless is planning to expand its manufacturing capacity from 3 metric tons (mt) to 4.2 mt by FY27

HDFC mid-cap opportunities fund: Forging midcap steel into portfolio armour

Fund anneals quality names into resilient wealth defenders

Steel sector to play vital role in achieving $5 trn economy goal: Pradhan

Steel sector will play a vital role in economic growth, job creation and industrial development as the country aspire to become a USD 5-trillion economy, Union Education Minister Dharmendra Pradhan said on Friday. He also said that green steel is the priority of the government to turn industrial transformation into a competitive advantage and this transition is magnificent in progress. Pradhan, who held the portfolio of the Steel Ministry earlier, was speaking at the second day of the 6th edition of Steel India 2025 Conference and Exhibition, being hosted jointly by the Ministry of Steel and industry body Ficci here. "As India progresses towards becoming a USD 5-trillion economy, the steel sector will play a vital role in economic growth, job creation and industrial development. This is India's decade to showcase innovation and collaboration across sectors as we work to realize the vision of Vikasit Bharat," Pradhan said. The steel industry will set a global benchmark for sustainab

Govt protecting local steel players from dumping, low prices: Piyush Goyal

India is poised to contribute significantly to global steel demand, Union Minister Piyush Goyal said on Friday while emphasising that the government has been able to protect the domestic steel industry from unfair dumping and irrationally low pricing. Speaking on the sidelines of the Steel India 2025 event here, jointly hosted by the Ministry of Steel and industry body Ficci, Goyal also said both exporters and the MSME sector will continue to get steel at international prices. "India is consistently focused on self-reliance (Atmanirbharta). But when we talk about Atmanirbharta, we are not closing the doors to the world. We are in fact opening the doors wider because every country will have its competitive advantages for different products," he said. The Indian steel industry is a very highly efficient and cost-effective, high-quality producer, the Union Commerce and Industry Minister said. "Therefore we believe that this is one sector where we will not only meet the growing needs o

Govt plans incentives for steel sector to spur decarbonisation efforts

India will try to support the domestic steel industry through incentives for decarbonisation efforts, Steel Secretary Sandeep Poundrik

BMW Industries plans B2B steel products' market foray: MD Harsh Bansal

With this new venture, the company aims to leverage its existing strengths in downstream steel processing to cater to the rising demand in the country

Baldota Group to enter steel sector with ₹54,000-cr project in Karnataka

Renewable energy player Baldota Group on Thursday said it plans to foray into the steel sector with an investment of Rs 54,000 crore for setting up a project in Karnataka with up to 10.5 million tonnes of (MT) production capacity. Once commissioned, the greenfield project will be the second largest steel plant in the state, creating lakhs of direct and indirect jobs, said Nagaraj N B, Vice President of the Integrated Steel Project in a company statement. According to the Karnataka-based diversified group, it currently operates in the areas of renewable energy (wind and solar), shipping, pellets, gases and mining. "We have received environmental clearance from the Ministry of Environment, Forest and Climate Change (MoEF&CC) for 3.5 MT capacity after an Environmental Impact Assessment (EIA) study. The first phase of project is expected to start this year," he added. The rest of the capacity will be added in phases over the next five years up to 2030, Nagaraj N B said. By 2030, India

AM/NS India commissions first scrap unit, plans three more by FY26

By processing scrap at its own facilities, AM/NS India hopes to enhance material quality and yield while reducing conversion and logistics costs, and formalising the scrap industry

Tata Steel appoints three Wales contractors for green steel-making project

Tata Steel has appointed three South Wales contractors to deliver key parts of its 1.25 billion pound cutting-edge green steel-making investment at Port Talbot. Over 300 skilled jobs in the local supply chain will be part of new contracts signed with Bridgend-based companies Darlow Lloyd and Sons, Wernick Buildings, and Swansea-based business, Andrew Scott Ltd. Darlow Lloyd and Sons will play a key role in the initial phases of the project, overseeing excavation, recycling, infrastructure, and drainage works essential to the site's transition to Electric Arc Furnace (EAF) steel-making. We are delighted to announce this partnership which will boost employment across Neath Port Talbot and lay the foundation for future growth across the manufacturing sector," Director Rhys Lloyd said. This collaboration safeguards our experienced workforce and allows us to appoint local experts with transferable skillsets to this once-in-a-lifetime project. Critical infrastructure, including the ...

Examining impact of US tariff on steel, aluminium: Govt tells Lok Sabha

The government is examining the impact of 25 per cent tariff imposed by the US on steel and aluminium imports, Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha on Monday. As per Proclamations issued by the president of the US dated February 10, 2025, the US government has imposed the import duty with effect from March 12, 2025, he said in a written reply. No proclamation has been issued on pharma, automobile and semiconductor sectors so far, he said. "As informed by Department of Commerce, the impact of the above proclamations on India is being carefully examined and evaluated," he said. Replying to another question, Chaudhary said out of 40 recommendations, India received 'Compliant' or 'Largely Compliant' rating in 37 recommendations by global money laundering and terrorist financing watchdog Financial Action Task Force (FATF). It received Partially Compliant rating in 3 recommendations and none was rated as Non-compliant, he said. "Consequently, India was p

Steel demand to grow despite global geopolitical issues: Tata Sons chairman

Tata Sons Chairman N Chandrasekaran on Monday said the demand for steel will continue to grow irrespective of the prevailing global geo-political situation. Chandrasekaran, speaking at the 186th birth anniversary celebration of Tata Steel founder J N Tata here, said the most important thing to recognise is that the demand for steel will continue to grow and the best way to face such a situation was to be prepared by maintaining efficiency and cost-management, and increase productivity". He also said the company will need help of the government, its policies, employees and workers unions for technology adoption. The management has to be bold to expand, maintain efficiency, manage cost and enhance productivity, while assuring to continue investing, including in Jamshedpur, Chandrasekaran said. Asked about the raging debate on tariffs, he said there is no point in talking about what will be the price/tariff; we have to focus on our productivity. Tariffs are import duties imposed and

Interarch Building Products Q3 results: Net profit rises 28% to Rs 28.2 cr

Interarch Building Products Ltd has reported a 28 per cent increase in net profit to Rs 28.19 crore for the December quarter. Its net profit stood at Rs 21.99 crore in the year-ago period. Total income rose to Rs 369.27 crore in the third quarter of this fiscal year from Rs 321.24 crore in the year-ago period, according to a regulatory filing on Tuesday. It is a turnkey pre-engineered steel construction solution provider.