Market News
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Steel makers set for profit surge in March quarter
Steelmakers are poised for a significant profit surge in the March quarter, driven by a new protectionist measure and seasonal demand. Higher prices and volumes are expected to outweigh increased coking coal costs, with SAIL projected to see the sharpest profit growth. India's improved trade balance and resilient domestic demand further bolster the sector's outlook.
Morgan Stanley expects Coal India, JSW Steel to outperform in results - ng.investing.com
Morgan Stanley expects Coal India, JSW Steel to outperform in resultsng.investing.com
Jindal Steel deploys syngas in furnaces to counter shortages of natural gas, LPG
Jindal Steel has successfully used syngas in its galvanizing and color coating furnaces. This move counters shortages of natural gas, LPG, and propane. It allows the company to maintain operations amid supply disruptions. Jindal Steel is a pioneer in using syngas for steelmaking. This innovation strengthens energy security and supports low-carbon steel production.
JSW Steel shares rise over 2%, after arm seeks govt help to secure gas supplies amid Middle East crisis
JSW Steel's unit is requesting government help to secure vital fuel supplies. Ongoing global tensions have created shortages of liquefied natural gas and propane. These fuels are crucial for JSW Steel Coated Products' manufacturing processes. Disruptions could impact downstream customers and lead to supply deficits. India relies heavily on natural gas imports.
India's JSW unit seeks government help to secure gas supplies amid shortages
India's JSW Steel Coated Products, a unit of JSW Steel, has sought government intervention to secure supplies of liquefied natural gas and propane to prevent output disruptions amid shortages caused by the Iran war, according to a letter reviewed by Reuters.
Rajputana Steel IPO listing in focus. Here's what GMP signals ahead of debut
The mainboard IPO was open for public subscription from Monday, March 9 to Wednesday, March 11. Rajputana Stainless IPO was subscribed 1.12 times during the bidding period, garnering bids worth ₹285.72 crore from nearly 23,000 applications.
Steel companies seek government intervention as coated steel units stare at propane shortage
Propane gas is used to provide the steady heating required to melt zinc during the coating process, ensuring a smooth and corrosion-resistant finish. It is a byproduct of natural gas processing and petroleum refining.
Mounting gas shortages disrupt some steel plants at JSW, one unit may face shutdown
India's steel sector faces a severe gas crisis. JSW Group operations are disrupted, with one unit nearing a potential shutdown. This follows Middle East conflict affecting supply routes. The Indian Steel Association warns of a huge adverse impact on small and medium enterprises. The government has invoked emergency measures to restrict natural gas use.
Metal stocks in focus: JSW Steel, Jindal Stainless, Hindalco on investors' radar today
While JSW Steel has announced plans to develop a coking coal mine in Mozambique, Jindal Stainless has flagged fuel availability constraints impacting plant operations. Meanwhile, Hindalco has clarified that its aluminium extrusions operations have not been halted following a recent news report.
Stocks to watch, March 16: IndiGo, Adani Power, Adani Total Gas, Ramky Infra, Waaree Energies, Zydus Life, JSW Steel, Hindalco - Upstox
Stocks to watch, March 16: IndiGo, Adani Power, Adani Total Gas, Ramky Infra, Waaree Energies, Zydus Life, JSW Steel, HindalcoUpstox
West Asia crisis hits stainless steel production; LPG shortages and logistics disruptions raise costs
The West Asia crisis and LPG shortages in India are affecting the domestic stainless steel industry, forcing companies to cut production and brace for higher costs. Manufacturers rely heavily on LPG and natural gas for key processes, and fuel constraints have led some plants to operate at reduced capacity.
JSW Steel announces 850 MT Minas de Revuboè coking coal mining project in Mozambique
Shares of JSW Steel Ltd ended at ₹1,119.05, down by ₹53.65, or 4.57%, on the BSE.