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Steel companies’ margins may improve on lower input costs – ET Infra

[ad_1] The profitability of most domestic steel makers is set to improve by ₹500-₹2,000/tonne quarter-on-quarter in the three months to September, largely aided by lower cost of a key raw material, according to analysts, even as steel prices fell in the seasonally weak period. The cost of coking coal, which is used in the production

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Crude steel output grows to 70 MT in April-September: SteelMint – ET Infra

[ad_1] India’s crude steel production rose 14.7 per cent to 69.65 million tonne (MT) during April-September period of 2023-24 fiscal year, according to SteelMint India. The steel output in the year-ago period was 61.06 MT, the market research firm said. The increase in production was mainly on account of improved capacity utilisation rates coupled with

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SAIL expects four coking coal ships from Russia in Sept quarter – ET Infra

[ad_1] SAIL Steel Authority of India is expecting four ships of coking coal from Russia in the September quarter, each with a capacity of 75,000 tonnes, Chairman Amarendu Prakash told reporters on Thursday. “We had four ships in the first quarter (April-June) and similarly we are expecting four such shipments in the quarter that ends

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JSPL top steel pick yet again, SAIL’s debt clouds prospects – ET Infra

[ad_1] MUMBAI: Jindal Steel and Power‘s (JSPL) strong balance sheet and prospects of a further improvement in profitability have analysts vouching for it as the steel sector‘s top pick yet again. They remain wary about state-owned peer SAIL given its high debt levels. Both the steel majors announced earnings for the June quarter last week.

JSPL top steel pick yet again, SAIL’s debt clouds prospects – ET Infra Read More »

JSPL top steel pick yet again, SAIL’s debt clouds prospects – ET Infra

[ad_1] MUMBAI: Jindal Steel and Power‘s (JSPL) strong balance sheet and prospects of a further improvement in profitability have analysts vouching for it as the steel sector‘s top pick yet again. They remain wary about state-owned peer SAIL given its high debt levels. Both the steel majors announced earnings for the June quarter last week.

JSPL top steel pick yet again, SAIL’s debt clouds prospects – ET Infra Read More »

SAIL reports a 74 pc decline in net profits in Apr-June quarter – ET Infra

[ad_1] NEW DELHI: Steel Authority of India Limited (SAIL) reported a 74 per cent decline in consolidated net profits in April-June 2023 quarter at Rs 212.48 crore. The state-owned company declared its financial results for the June quarter on Thursday evening. In the same quarter last year, the net profits or Profit After Tax were

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PLI 2.0 in works for steel, to focus on import substitution – ET Infra

[ad_1] NEW DELHI: The government is working on a second leg of the performance-linked incentive (PLI) programme for the steel sector, focused on import substitution. “The steel ministry is likely to come up with PLI-2 which will further take care of the requirements of the Indian Railways and various other segments,” steel secretary Nagendra Nath

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Steel companies’ Q1 margins hit by rising costs, low prices – ET Infra

[ad_1] Representative Image NEW DELHI: The operating profit of steelmakers is estimated to have dipped by Rs 2,000-3,000 per tonne of metal sold during the April-June period compared to the preceding quarter, experts said. Steel prices and sales volume during the quarter dipped sequentially while input costs continued a northward march, resulting in lower profitability,

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SAIL crude steel output grows 8 per cent in Q1; sales rise 24 per cent – ET Infra

[ad_1] The company attained its highest-ever sales performance in the first quarter by achieving a sales volume of 3.9 MT, posting a y-o-y rise of 24 per cent. Steel Authority of India Ltd (SAIL), under the Ministry of Steel, is among the top three steel producing companies in India having an annual capacity of around

SAIL crude steel output grows 8 per cent in Q1; sales rise 24 per cent – ET Infra Read More »

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