NEW DELHI: Indian metal and mining companies’ operating costs are likely to rise significantly if state governments impose additional mining taxes in the wake of a Supreme Court ruling, Fitch Ratings said in a note on Monday. India’s top court late last month upheld the right for state governments to levy taxes on minerals extraction […]
Metal and mining companies like Tata Steel and JSW Steel could face significant increase in their operating costs if state governments impose additional mining taxes which were recently made applicable retrospectively by the Supreme Court. As per a Fitch Ratings report, companies could face increased risks from sustained weakening of their EBITDA margins because of
How Tata Steel and JSW Steel will be impacted by SC ruling on mining royalty – ET Infra Read More »
India’s largest engineering and construction company Larsen & Toubro Ltd. expects its international business to get a boost while domestic market slows, after receiving global credit ratings higher than the sovereign’s.“This milestone will enable us to bid for more international projects both independently and through joint ventures,” R Shankar Raman, whole-time director and chief financial
L&T expects to win more global orders on ratings boost – ET Infra Read More »
Fitch Ratings on Friday revised its outlook on domestic steel major Tata Steel to negative on account of uncertainty surrounding the turnaround of the company’s operations in the UK. However, the expected robust growth in Tata Steel‘s India operations and likely earnings before interest, taxes, depreciation, and amortization (EBITDA) profits at Dutch operations in FY25,
While the recent uptick in prices and lower input costs is seen shoring up the operating profit of Indian cement makers in the near term, profitability is seen capped over the medium term as companies are unable to take significant price hikes amid capacity additions, analysts said. India is expected to consume around 440 million
Capacity addition to limit improvement in profitability for cement makers – ET Infra Read More »
Indian traders have been scooping up Chinese steel at a deep discount, industry officials and analysts said, spooking Indian producers ahead of a seasonal pick up in domestic demand. Lured by discounts of $30 to $50 a tonne on hot-rolled and cold-rolled products, Indian buyers are signing a flurry of import deals, they added. Domestic
Indian traders scoop up cheaper Chinese steel, says industry executives – ET Infra Read More »
