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Operating margins of steelmakers to fall from 23% to 18% this year: ICRA

Mumbai, Sept. 18 -- Growth in domestic steel consumption is expected to slow down to 5-6% in FY2020 from 7.9% in FY2019, according to credit ratings agency ICRA. The agency has attributed the fall in ... Read More


Tata Power exits South African wind power projects

Mumbai, Sept. 17 -- Tata Power has exited its investments in two wind power farms of about 230-MW generation capacity in South Africa for $106 million. The move was in line with the company's aim to s... Read More


Vardhman Special Steel expects Aichi investment to improve quality of its auto steel

Mumbai, Sept. 17 -- Vardhman Special Steels, the Ludhiana-based manufacturer of automotive and alloy steel, said the recent investment by Japan's Aichi Steel Corp in the company will help it improve q... Read More


Tata Power exits South African wind power projects

India, Sept. 17 -- Tata Power has exited its investments in two wind power farms of about 230-MW generation capacity in South Africa for $106 million. The move was in line with the company's aim to se... Read More


Vardhman Special Steel expects Aichi investment to improve quality of its auto steel

India, Sept. 17 -- Vardhman Special Steels, the Ludhiana-based manufacturer of automotive and alloy steel, said the recent investment by Japan's Aichi Steel Corp in the company will help it improve qu... Read More


Slump in steel sector spreads to small, medium companies

New Delhi, Sept. 17 -- A slowdown in India's steel sector is spreading to medium and small enterprises, with several companies cutting production in response to lower demand. Such units make up about... Read More


Cement prices fall further on low demand: Emkay

New Delhi, Sept. 14 -- Cement prices moderated in August, according to a report by brokerage house Emkay. "Our channel checks indicate that cement prices declined further in August 2019, with average ... Read More


JSW Steel files appeal at NCLAT to modify takeover terms of Bhushan Power

New Delhi, Sept. 13 -- JSW Steel has filed an appeal at the National Company Law Tribunal, contesting the conditions of its takeover of bankrupt steel mill Bhushan Power and Steel (BPSL). The appeal i... Read More


JSW Steel wins NCLT's approval for Bhushan Power, but may still appeal

Mumbai, Sept. 13 -- Abankruptcy court on Thursday, 5 September, approved JSW Steel Ltd's '19,700-crore bid to take over bankrupt Bhushan Power and Steel Ltd, marking the second successful resolution o... Read More


Economic slowdown, trade war to test steel industry's mettle

Mumbai, Sept. 13 -- The wider economic slowdown is not likely to spare the domestic steel industry, with three credit rating agencies raising the alarm on falling profitability at steel mills. Profit ... Read More