Aluminium drives Q1FY21 beat
Vedanta reported higher than expected Q1FY21 numbers. Aluminium EBITDA constituted ~72% of the EBITDA beat. The segment’s..
Inventory valuation leads to EBITDA miss
* MOIL’s Q2 numbers were significantly lower than estimates, dragged down by inventory valuation adjustment of Rs1.1bn...
Further hike in steel prices indicates strong demand
Domestic steel producers have raised HRC prices by INR1,000-2,000/t for Oct’20 deliveries. This is contrary..
Tata Steel’s Q2FY21 consolidated performance was better than our estimates on all fronts. For Q2FY21, sales volume for Indian operat..
China’s steel consumption remains strong
Steel trade data released by China suggests demand remains strong, with net steel exports declining to 10-yr lows in Sep..
Reverse book building for delisting starts on 5th Oct
Vedanta receives SEBI nod for delisting; to dispatch offer letter to shareholders
* Vedanta Resources Ltd (V..
Mishra Dhatu Nigam (Midhani) has reported a decent topline performance in Q1FY21 at Rs1.14bn (down 14% YoY). The reduction in topline reflects 45 days ..
Bouncing back strongly, stay positive
* India’s steel sector has turned the corner with recovery in domestic demand and improved margins. This is led by sharp p..
The company reported standalone net loss during the quarter stood at Rs 21.00 crore as compared to net loss of Rs 13.06 crore in the previous year quarter. Net revenue of..
Shares of Tata Steel surged nearly 7 per cent on Tuesday, after the company confirmed that is has started talks with Sweden-based SSAB to sell its Netherland business, in..
The company reported standalone net profit of Rs 2,204.87 crore for the quarter ended September 30, 2020 as compared to Rs 3837.81 crore in the same period last year, reg..
Tata Steel has initiated talks with Sweden-based SSAB to sell its Netherland business, including Ijmuiden steelworks.
It has also started discussions with the supervis..
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