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Tata Steel eyes 9% India sales growth this fiscal
Tata Steel aims for a nearly 9% increase in Indian steel sales this fiscal year, leveraging expanded capacity at its Kalinganagar facility. The company is also on track to fully repay overseas subsidiary bonds by fiscal year-end, a move that has significantly reduced its exposure to currency depreciation risks and strengthened its financial flexibility for future investments.
Vedanta says FEMA-related ED search concludes with no adverse impact
Vedanta said the Enforcement Directorate has concluded FEMA-related search operations at its premises, with no penalty, restriction or impact on the company's financial, operational or business activities.
Vedanta says no penalty, restrictions imposed after ED searches
India's financial crime-fighting agency searched Vedanta group locations. The company stated no penalty or restriction has been imposed. Vedanta is cooperating with the foreign exchange law probe. Operations and financial activities remain unaffected. The searches were conducted in connection with a probe.
Strong earnings: Vedanta, JSW Steel among 10 largecaps that reported best Q4 results
Indian markets conclude the Q4 earnings season with robust results. Vedanta, JSW Steel, Muthoot Finance, Indian Oil Corporation, Tata Steel, Hindustan Zinc, Samvardhana Motherson, Mahindra & Mahindra, Siemens Energy, and BPCL reported significant year-on-year growth in profits and revenues. This widespread outperformance across various sectors signals a strong financial performance for these large-cap companies.
NMDC Steel shares jump 18% after Q4 profit turnaround; hits 20-month high
NMDC Steel shares surged 18% to ₹52.60, hitting a 24-month high after reporting a strong financial turnaround for Q4FY26, with a net profit of ₹391.9 crore and revenue growth of 36.7%. For FY26, net profit was ₹58.7 crore, reversing previous losses.
Industrial activity stays resilient despite global conflict: RBI bulletin
Quarterly results of listed private non-financial companies for Q4:2025-26 reflected improved business performance. Aggregate sales rose in double digits, with manufacturing companies benefiting from automobiles and iron and steel. In services, both IT and non-IT firms maintained growth despite global uncertainties, with wholesale and retail trade driving non-IT gains.
Vedanta secures highest credit rating in over decade following ICRA Upgrade
Vedanta Group achieved its highest domestic credit rating in over a decade. ICRA upgraded key group entities, Vedanta Ltd and Vedanta Aluminium Metal Ltd, to AA+ with a stable outlook. This upgrade reflects strong operational performance and a robust financial profile. The rating signifies high safety for financial obligations and very low credit risk.
Steel Strips Wheels reports flat Q4 profit, revenue rises 19.5%
Revenue from operations rose 19.5% year-on-year to ₹1,474 crore during the quarter, up from ₹1,234 crore in the corresponding quarter of the previous financial year.
India's steel ministry flags met coke shortage, seeks withdrawal of anti-dumping duty
India's Steel Ministry wants finance ministry to remove import duties on met coke. Domestic supplies are low and prices are high. Steel manufacturers face financial strain. State-run RINL struggles to get enough met coke at good prices. Small and medium steelmakers also face challenges. The domestic market is not meeting the industry's needs.
Wars in West Asia and Ukraine are turning shipping costs into steel sector’s biggest headache
In the face of a daunting 28-30% increase in international freight costs, India's steel sector is at a crossroads. The unrest in West Asia is inflating the cost of coking coal imports, intensifying the financial strain. Yet, domestic production is holding its ground. The industry is pivoting towards enhancing operational resilience and implementing smart cost management to tackle these obstacles.
Hindalco shares will react to Novelis' optimistic commentary but concerns remain
Novelis is expecting capital expenditure for the financial year 2027 to be in the $2.1 billion to $2.4 billion range, including $350 million for maintenance capex.
Abans Financial Services reports consolidated net loss of Rs 3.87 crore in the March 2026 quarter
Sales rise 719.09% to Rs 8708.28 crore