Big Billion Days

Coking coal is one of the key inputs used in the sector. "Input cost pressures for domestic mills could moderate somewhat towards the later part of Q4 FY2022, as seaborne coking coal prices have declined by 20 per cent since the highs of mid-November 2021, the benefit of which would slowly get reflected in mill margins after a lag of two-three months," the agency said.

Accordingly, the rise in Index of Industrial Production (IIP) for September eased to 3.1 per cent from 12.03 per cent in August 2021. However, on a year-on-year basis, the September out up showed an accelerating trend from a growth of just 1 per cent reported for the corresponding period of the previous fiscal.

With this, Jindal becomes the first representative from India to serve as Chairman of the WSA. Jindal addressed the board members of WSA thanking his predecessor Yu Yong for his capable chairmanship over the last two years and noting the challenges for the global industry going forward, particularly with respect of climate change

Since its launch in 2014, Flipkart has led spending during the festive month due to its strength in the smartphone and fashion categories, which account for over 50 per cent of total online retail sales in India

The subsidies have created an imbalance in the Indian and international markets, and reduced the competitiveness of Indian products in the domestic industry, causing material injury and persistent financial stress for home-grown businesses. It has also forced the domestic industry to seek redressal from the concerned authorities of the government for the revocation of suspension of CVD on China and imposition of fresh CVD on Indonesia.

Aluminium is a metal of strategic importance and an essential commodity for diversified sectors, crucial for the nation's economy. Aluminium smelting requires uninterrupted and high-quality power supply for production which can be met only through in-house CPPs. Such drastic curtailment of coal supplies will bring the industry to a standstill as it has been left with no time to devise any mitigation plan to continue sustainable operations.

After various rounds of discussions and negotiations, JSPL and its transaction advisors have successfully negotiated a revised and improved binding offer from Worldone accommodating all of the investor feedback received by the Company. The key highlights of the revised Offer are that Worldone will buy out all the Equity Shares and Redeemable Preference Shares of JPL held by JSPL.

With a budgetary outlay of Rs 6,322 crore, the PLI scheme would cover coated/plated steel products, high strength/wear resistant steel, specialty rails, alloy steel products, steel wires, and electrical steel. The scheme is expected to bring in investment of approximately Rs 40,000 crore and capacity addition of 25 MT. The duration of the scheme will be 5 years, commencing from 2023-24 to 2027-28.

The ongoing steel upcycle will also mean stronger-than-expected realisations over the medium term. Consequently, acquirers may see 20% faster payback and are well set to tap the brownfield potential housed under these assets. This is as per a CRISIL study of five stressed steel capacities, totalling 21 million tonne (MT), which were acquired under NCLT-1, mostly by other primary steel producers.

"This is to inform you that the Board of Directors of NMDC Ltd, at its meeting held today, July 13, 2021, has approved the Scheme of Arrangement for Demerger between NMDC Ltd and NMDC Steel Ltd ('Resulting Company') and their respective shareholders, pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013," the NMDC said in a regulatory filing.