Shipment of raw materials from AGPL resumes for Vizag steel plant
Shipment of raw materials such as coking coal, limestone and others, which are key for making steel, had been disrupted since April 12.
 

Steel-major SAIL gets clearance for ₹1-lakh cr expansion plans, working on de-carbonisation strategy: Amarendu Prakash
New Delhi: The Steel Authority of India Ltd. (SAIL) has received “approvals” for its massive ₹1,00,000 crore capex plans - both greenfield and brownfield ones – which will see the state-owned steel-maker ramp-up capacities by approximately 75 per cent to 35 million tonnes per annum (mtpa) by 2030, company Chairman and Managing Director, Amarendu Prakash told businessline. The company is also working on a “detailed decarbonisation plan” that will see it bring down its carbon footprint.” “Approvals (at Board and Ministerial levels) for the ₹1-lakh crore capex has been received and we will start the work soon,” he said.

India pushes steel industry for greater carbon transparency as CBAM reality dawns
New Delhi: India is seeking more data, and greater transparency from its steel-makers on embedded carbon-emissions during the metal-making process, especially with CBAM getting into the transitional phase.

India advances iron-ore beneficiation policy
India is looking at forming an iron-ore beneficiation policy, whereby low-grade ore would be upgraded to higher variants, Steel Secretary Nagendra Nath Sinha, said. The move would help maximise the use of ore with less iron content in steel production. The use of ore with less iron content needs beneficiation – the process by which impurities are removed - adds to the cost of steel production.

JSW Steel net down 65% at ₹1,322 crore on lower realisation, higher cost
Income dipped two per cent to ₹46,511 crore (₹47,427 crore). The board has approved a dividend of ₹7.30 per equity share. The company plans to raise ₹14,000 crore through issuance of equity and debentures to qualified institutional buyers.

JSW Steel may post lower Q4 profit on lower realisation

In FY’24, the company logged its highest ever annual crude steel production of 26.43 million tonnes, an increase of 9 per cent as against FY23. The company has embarked on ambitious greenfield project to set up an integrated steel plant of 13 mtpa capacity.

JSW Steel sees highest-ever sales volume in FY24, guides for further growth

Keeping close watch on steel imports: SAIL Chairman Amarendu Prakash

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

Jindal Stainless Q4 profit falls 30% on high nickel prices
Jindal Stainless (JSL) has earmarked a capex of Rs 4,700 crore for FY25, a majority of which would be used for its proposed expansion plans. The rise in capex, from Rs 3,800 crore in FY24, is also on back of expectations of a rise in domestic demand, said MD Abhyuday Jindal.

Jindal Stainless eyes 20% volume growth in FY25, to spend over Rs 5,000 crore on capex

Jindal Stainless supplies 'high-strength' steel to Vande Metro trains
Chennai: Leading stainless steel manufacturer Jindal Stainless has supplied high strength stainless steel for the Vande Metro train expected to operate from July, the company said on Tuesday.

Why Vietnamese steel makes Indian industry uneasy
New Delhi/Mumbai: The spectre of cheap steel imports flooding the Indian markets has returned to haunt Indian makers of the alloy. Last week, the Bureau of Indian Standards (BIS) issued a licence to Vietnamese steel manufacturer and exporter Formosa Ha Tinh, according to people aware of the matter.

Jindal Steel & Power stock already factoring in improving prospects
Jindal Steel & Power’s (JSPL) Q4FY24 results were in line with consensus. The reported revenue of Rs 13,500 crore (down 1.5 per cent year-on-year Y-o-Y and up 15 per cent quarter-on-quarter Q-o-Q) in Q4FY24 beat estimates. 

Jindal Steel standalone net profit up 62% in Q4 FY24
 

APL Apollo Tubes Q4 Results Live : profit falls by 15.55% YOY
APL Apollo Tubes Q4 Results Live : APL Apollo Tubes declared their Q4 results on 11 May, 2024. The topline increased by 7.55% & the profit decreased by 15.55% YoY.

JSW Steel's crude steel output stays near flat in April

India explores green steel project funding options
New Delhi: India is pressing ahead with initiatives to fund green steel projects, embracing hydrogen as the ‘game-changing alternative’ to traditional coal methods. Discussions are underway over proposals, including the potential for imposing lower interest rates specifically tailored for upcoming capital-intensive green steel ventures.

Vizag Steel Plant employees’ plea to Gangavaram port workers to allow raw material transportation
Visakhapatnam: As many as 1,000 employees of Vizag Steel Plant here on Wednesday marched to the nearby Adani Gangavaram Port Ltd to plead with its agitating employees to allow raw material shipments.

Jindal eyes defence sector for specialised steel offering
New Delhi: The Jindal Group is exploring the defence material market with its offering of specialised steel for shipbuilding and missiles manufacturing. Jindal Steel & Power (JSP) on Thursday inked an MoU with the Indian Coast Guard (ICG) for enhancing indigenous content in shipbuilding, including supply of indigenous marine-grade steel, which is vital for the nation’s maritime security, the Ministry of Defence said.

Ashirwad Steels & Industries Q4 Results Live : profit rise by 64.75% YOY
Ashirwad Steels & Industries Q4 Results Live : Ashirwad Steels & Industries declared their Q4 results on 07 May, 2024. The topline decreased by 50.37% & the profit increased by 64.75% YoY.

Tata Steel becomes first Indian steel company to complete fully loaded voyage from Australia to India on B24 biofuel

Steel demand to grow at 10% or more: Steel Secretary NN Sinha

According to him, India’s annual production capacity is currently at 170 million tonne, with demand momentum expected to sustain.  “The demand has grown by around 14 per cent y-o-y in FY24. It will continue to grow by 10 per cent in the future,” he said while speaking at a conclave on manufacturing organised by the CII. 

JSW Steel to take up fundraising on May 17

India considering proposal mandating luxury and high-end car makers to use ‘green steel’

Jindal Stainless fuels Indian Navy’s capabilities with SMART system
Jindal Stainless Ltd reported that it supplied 3 mm special alloy steel sheets for the Supersonic Missile-Assisted Release of Torpedo (SMART) system, to enhance the Navy’s anti-submarine warfare capabilities. The sheets are developed by Jindal Stainless’ vertical, Jindal Defence and Aerospace. 

Flood of cheap Chinese steel into India at an eight-year-high
New Delhi: China’s property market bust has saddled its steelmakers with a glut that they are offloading globally, including India. In FY24, China — banking on the lower priced metal offerings — emerged as the largest seller to Indian traders. Nearly 2.7 million tonnes (mt) of the finsished produce came in, the highest in eight years.

India’s steel imports from China surge 58 per cent in the January-March quarter
 

Indian steel exports to Europe hit a five-year high in FY24 but cedes space in UAE, Vietnam to Chinese mills
New Delhi: India’s steel exports to Europe hit a five-year high in FY24 with outbound shipments hovering at 3.3 million tonnes (mt), up 65 per cent y-o-y and near doubling over a five-year (from FY20). However, the cheer is short-lived. The country has ceded space in the UAE – where exports hit a five-year-low – and also in South East Asia, as per reports of the Steel Ministry, accessed by businessline.

Jindal Stainless announces expansion plans worth INR 5,400 cr, including a Indonesian JV and an acquisition
Listed stainless steel manufacturing company Jindal Stainless on Wednesday announced a 'three-pronged' investment strategy worth nearly INR 5,400 crore for its melting and downstream capacities.