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Steel Sector News
SteelMin asks PSUs to match pvt players to ramp up steel production
Sun, Sep 16, 2018
Over the policy restrictions on the Central and state governments to buy domestic steel, the minister clarified that there were some exemptions for high quality grade steel that is not available domestically.
Bhushan Steel fourth-quarter loss bigger than stated earlier
Thu, Jul 06, 2017
Bhushan Steel Ltd reported a March-quarter loss that was much bigger than stated earlier in its unaudited results, as the debt-laden steelmaker was hurt by higher costs.
These two companies stand to gain immensely if India goes ahead with steel sector bankruptcies
Mon, Jun 26, 2017
RBI said, "The Internal Advisory Committee (IAC) recommended for IBC reference all accounts with fund and non-fund based outstanding amount greater than Rs 5000 crore, with 60% or more classified as non-performing by banks as of March 31, 2016. The IAC noted that under the recommended criterion, 12 accounts totaling about 25% of the current gross NPAs of the banking system would qualify for immediate reference under IBC."
SMEs in steel sector hope lower GST on coal will boost margins
Sun, May 21, 2017
The small and medium-sized enterprises (SMEs) in the steel sector are hopeful that the government's tax slab of 5% on coal under the GST will help to increase their production and profit margins.
Thyssenkrupp steelworkers protest against Tata merger plan
Thu, May 04, 2017
Thousands of Thyssenkrupp steelworkers protested on Wednesday against the German industrial group`s plan to merge its European steel operations with those of India`s Tata Steel.
India Inc's credit quality improves but remains fragile
Tue, Apr 04, 2017
Crisil, in its report, said, "The improvement was driven by firm commodity prices, stable macros, improving capital structure and lower interest costs. Going forward, we expect the gradual improvement in credit quality to sustain."
JSW Steel keen to snap up troubled steel cos for expansion
Sun, Mar 26, 2017
JSW Steel is keen to capitalise on the stress in the sector by acquiring distressed alloy companies so that it can expand its capacity faster, a top official has said.
Demonetisation likely to be credit positive for India, Moody's says
Wed, Mar 01, 2017
Progress on the pending Goods and Services Tax (GST) reform and Finance Minister Arun Jaitley's 2017 budget speech to parliament both underscore the government's commitment to reform in the wake of demonetisation.
Business environment becoming challenging for steel sector: SAIL
Sun, Feb 05, 2017
Country's largest steel maker SAIL today said with the business environment becoming extremely challenging for the steel sector, it has identified five core areas, including optimisation of new assets utilisation, to turn impending challenges into opportunities.
Demonetisation: Tata Steel hopes to get back normalcy soon
Sun, Jan 01, 2017
Private steel major Tata Steel on Sunday expressed confidence that the situation would be back to normal in the next quarter after the company's performance was impacted temporarily in November last owing to demonetisation.
JSW Steel's shares drop as company reports 'best ever' production
Fri, Sep 09, 2016
JSW Steel, on Friday, said that it produced 1.35 million tonne steel in the month of August 2016, its highest ever in any given month. The company said that crude steel production for the given month jumped 27% from 1.06 million tonne in the same month of last year.
Top steel firms' debt level totals record $150 billion
Thu, Aug 18, 2016
EY said in a report published on Thursday steel firms took on debt as they fought for market share, notably the Chinese steel sector has added about a billion tonnes of capacity since 2000, helping to take global excess capacity to about 700 million tonnes.
India to impose temporary anti-dumping duty on some steel products
Tue, Aug 02, 2016
The Directorate General of Anti Dumping recommended the duties on steel products from China, Japan, South Korea, Russia, Brazil and Indonesia, the statement said.
Rs 3 lakh crore owed to banks: Steel ministry working to revive the sector
Mon, Aug 01, 2016
Steel sector in India owes Rs 3,00,000 crore to banks, Minister of Steel, Chaudhary Birendra Singh told the Lok Sabha on Monday.
4800 jobs saved: Tata Steel sells European operations to Greybull Capital
Wed, Jun 01, 2016
‘All together the business employs 4,800 people – 4,400 in the UK and 400 in France, Tata Steel said.
Steel sector accounts for biggest chunk of NPAs: FM Arun Jaitley
Thu, May 05, 2016
The top 50 defaulters of public sector banks had exposure in excess of Rs 1.21 lakh crore as on December 2015.
Two groups emerge to buy Tata Steel Europe
Thu, May 05, 2016
Two groups signalled their interest in buying the British assets of Tata Steel on Tuesday, offering hope that thousands of jobs could be saved after weeks of uncertainty.