Page 9 - Steel Sector

SAIL returns to black; posts Rs 3,897-cr net profit for June quarter

Domestic steel major SAIL on Friday returned to the black, posting a consolidated net profit of Rs 3,897.36 crore for the June 2021 quarter.

Dependence on imports in the steel sector is worrisome: R C P Singh

Newly appointed Steel Minister says the announcement of the Rs 6,322-cr PLI scheme for specialty steel is another step towards 'Atmanirbhar Bharat'

Union Cabinet approves Rs 6,322 crore PLI scheme for speciality steel

Move likely to attract investment of Rs 40,000 crore, capacity addition of 25 mn tonnes; create over 500,000 jobs

Steel minister Ram Chandra Singh reviews performance of RINL, 3 other PSUs

Union Steel Minister Ram Chandra Prasad Singh on Tuesday reviewed the performance of state-owned RINL, MSTC, KIOCL and MOIL, according to a release.

Steel stocks in focus; SAIL, Tata Steel, JSL gain up to 5%

Higher export orders and lower raw material prices are likely to support the profitability margins of players during FY22

Tata Steel June quarter crude steel output jumps over 43%; sales up 35%

Consolidated crude steel output was at 7.94 million tonne (MT) during the quarter

Vaccination and stimulus will make 9-9.5% growth possible: CII president

Ideal way is convincing people but vaccination is also a social responsibility; Countries need to balance corporate tax rate, says industry body's new President and MD-CEO of Tata Steel

SAIL to 'dissolve' RMD headquarters in Kolkata, job losses feared

Steel Authority of India is set to "dissolve" its raw material division headquarters in Kolkata, a decision that would deal a blow to contractual employees associated with the unit

Relief for Tata Steel as revenues rise faster than liabilities in FY21

Debt reduction led to sharp improvement in leverage ratio

Industrialist Swraj Paul's company to build large steel pipe mill In Texas

Bull Moose Tube, a subsidiary of the London-headquartered Caparo group, has announced plans to build a 350,000 tonnes per year high speed steel and sprinkler pipe mill in Texas

Gadkari stresses on ways to reduce use of cement, steel in road construction

Gadkari said the government officials should positively support new ideas.

JSPL PAT jumps manifold to over Rs 1,900 crore in Jan-Mar quarter

Jindal Steel and Power Ltd (JSPL) reported manifold jump in its consolidated profit after tax (PAT) to Rs 1,900.51 crore during the fourth quarter ended March 2021, mainly on account of higher income

An asymmetric story: Big steelmakers mint money as smaller ones struggle

Large producers with iron ore mines and export markets are thriving in the current cycle but small ones, with access to neither, are struggling

Tata Steel gains 5% on strong operational performance by Tata Steel BSL

Tata Steel BSL's consolidated net profit more-than-doubled to Rs 1,913 crore in Q4FY21, against Rs 913 crore in December quarter (Q3FY21)

Tata Steel hits all-time high; stk soars 25% in a month on ratings upgrade

On Tuesday, March 6, Standard and Poor's raised the credit rating of Tata Steel and its subsidiary ABJA Investment Co from 'B+' to 'BB-'

Tata Steel production remains almost flat at 7.4 mt in Jan-Mar quarter

Domestic steel giant Tata Steel on Tuesday said its consolidated steel production remained almost flat at 7.4 million tonnes (MT) in the quarter ended March 31, 2021.

SAIL shares surge 7% after best quarterly sales in March quarter

Shares of Steel Authority of India Ltd (SAIL) on Monday soared 7 per cent after the company clocked its best ever quarterly sales at 4.27 million tonnes in the latest March quarter.

JSPL sees34% rise in output; sales jump 37% in January-March FY21

Steel producer JSPL on Monday reported a 34.41 per cent rise in its output, and the sales grew 37.41 per cent during the quarter ended March 31.

SAIL hits over 2-yr high on clocking best quarterly production, sales in Q4

Aided by a healthy Q4FY21 performance, SAIL reported its best-ever annual sales volume during the financial year 2020-21

Steel stocks in focus; JSW Steel hits record high, SAIL nears 52-week high

Margins of steel companies are expected to show further expansion in Q4FY21 driven by healthy export order and higher realizations, CARE Ratings said