chart

Most metal players have underperformed the benchmarks over the past year

Chart

Hindalco, Vedanta and Hindustan Zinc remain upbeat about future demand

Mining & metal firms

Profits down 91% in Q2, driven by margin contraction because sales realisation did not keep pace with rise in expenses

'Move would also drive synergies' and increase value for shareholders, says company

steel, iron, metal, manufacturing, production, molten

The move was expected to bolster infrastructure spending in the world's second-largest economy, where stringent Covid-19 lockdowns have led to a slump in demand

The metal sector also faces headwinds from an investment slowdown in China that accounts for more than half the global metal demand

graph

Host of sectors pushing up need for metals; capital outlay significant by firms, say experts

Weak rupee a mixed bag for metal firms

According to CRISIL Research, India imported close to 57-59 million tonnes of coking coal - a key input for steelmaking - worth Rs 1 trillion in fiscal 2022

According to CRISIL Research, base metals are currently at their highest levels since 2008, while steel prices in Europe are at an all-time high

Palladium

Russia accounts for 40% of global production of the auto-catalyst metal used in catalytic converters to curb vehicle emissions

metal chart

Russia & Europe account for 10% of global primary aluminium supply. Russia is also the second largest steel exporter. With war threatening supply, exporting nations like India may step in to plug gaps

Net profit rises to Rs 82,500 crore; accounts for 20% of India Inc's combined net profit

The BSE metal & mining index is up 144 per cent since the end of March 2020

According to the report, a severe dent in domestic demand for metals is anticipated and it will take until at least 2022-2023 to return to pre-pandemic levels

metal firms

For base metal producers, rising rupee set to partly offset profitability

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

The scheme will offer an annual interest subsidy of between 3-6.5% on up to 0.9 million rupees of the loan amount

home loan, loan interest

Das asserted that directors in UCBs, who are elected to their positions, must possess expertise in diverse banking functions, including risk management and information technology

Shaktikanta Das

In Feb 2018, the MoD established two defence industrial corridors to serve as engines of economic development and growth of defence industrial base in the country

An exhibit of Su 30 MK-I fighter aircraft at the Bharat Dynamics Limited (BDL) pavillion during the 12th edition of DefExpo, in Gandhinagar on Tuesday

Defence Expo 2022

Weak demand, global slowdown add to their woes

Crude oil

A Kashmir-based Sikh body on Saturday said the India-Canada row was "a political gimmick" by the establishment to garner votes in the elections and that the community was an integral part of the country.
"Everything is politically exploited. Sikhs are an integral part of this country. Since RSS came into power, the only agenda it has is that they will talk about 'gharwapsi' whether it be in Muslims, Sikhs or anybody. We are not going to tolerate it," All Parties Sikh Coordination Committee Chairman Jagmohan Singh Raina told reporters here.
"The India-Canada situation is a political gimmick as elections are coming up. It is to garner votes during elections and nothing else. The community is progressive, it is working hard for the country and it will continue working like that," he said.
He alleged that the Khalistan issue was a narrative, built on lines of Kashmir issue for political mileage. "A political scenario has been created like for Kashmir, Pakistan scenario has been formed a

India Canada

This comes at a time when tensions between the three major nuclear powers have risen to their highest in decades

test firing, North Korea, North Korean government, rocket launcher, weapon's combat application, nuclear weapon, nuclear attack

Pakistan's plans to travel to Dubai for a pre-World Cup team bonding trip have been cancelled as the team was still waiting for their visas to travel to India on Friday, according to ESPNcricinfo

Pakistan cricket team gets clearance from government to participate in ODI World Cup 2023 in India. Photo: PCB

Pakistan Cricket Team

Poverty in Pakistan shot up to 39.4 per cent as of last fiscal year, with 12.5 million more people falling into the trap due to poor economic conditions, the World Bank has said, as it urged the cash-strapped country to take urgent steps to achieve financial stability.
The Washington-based lender on Friday unveiled draft policy notes that it prepared with the help of all stakeholders for Pakistan's next government ahead of the new election cycle, The Express Tribune newspaper reported.
Poverty in Pakistan rose within one year from 34.2 per cent to 39.4 per cent, with 12.5 million more people falling below the poverty line of the USD 3.65 per day income level, according to the World Bank. About 95 million Pakistanis now live in poverty, it said.
Pakistan's economic model is no longer reducing poverty, and the living standards have fallen behind peer countries, said Tobias Haque, the World Bank's lead country economist for Pakistan.
The global lender urged Pakistan to take urgent ste

World Bank

Prime Minister Narendra Modi laid the foundation stone of an international cricket stadium in his parliamentary constituency Varanasi on Saturday.
Former India cricketers, including Sachin Tendulkar and Ravi Shastri, BCCI President Roger Binny, its vice-president Rajiv Shukla and secretary Jay Shah were present on the occasion. Uttar Pradesh Chief Minister Yogi Adityanath also attended the function.
The Uttar Pradesh government said that it has spent Rs 121 crore to acquire the land for the stadium while the Board of Control for Cricket in India (BCCI) will spend Rs 330 crore on its construction.
To be built near the Ring Road in Rajatalab area, the stadium is likely to be ready by December 2025. The spectators' gallery of the stadium would resemble the steps of the ghats of Varanasi.
This will be Uttar Pradesh's third international cricket stadium after Kanpur and Lucknow.

international cricket stadium in Varanasi

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

The Enforcement Directorate on Tuesday told the Supreme Court that the probe agency will not summon BRS leader K Kavitha in the Delhi excise policy case till the court hears her plea on November 20.
A bench of Justices Sanjay Kishan Kaul and Sudhanshu Dhulia told Additional Solicitor General SV Raju, appearing for the Enforcement Directorate, "Don't call her in the meantime."
Raju assured the bench that Kavitha will not be called for questioning till November 20.
The bench posted Kavitha's plea, in which she has challenged the summons issued by the agency on November 20, and said in matters where interim orders of protection are issued will be extended.
On September 15, the ED had told the apex court that the summons issued to Kavitha for her appearance before the agency will be extended by 10 days.
The ED had issued the summons dated September 4 to Kavitha, the daughter of Telangana Chief Minister K Chandrashekar Rao, seeking her appearance at the agency's Delhi office on Septemb

ED tells SC it will not summon Kavitha in Delhi excise case till Nov 20

Enforcement Directorate

Ashish Mishra, the son of Union Minister Ajay Mishra, moved Supreme Court challenging Allahabad High Court which denied bail to him in connection with the Lakhimpur Kheri violence case

Supreme Court, Manipur violence

ICMAI CMA Result 2023 has been released today, September 26, 2023. Alongside the ICMAI CMA July Session result, the Institute will announce the CMA pass rate at icmai.in

ICMAI CMA Result 2023

Civil Aviation Minister Jyotiraditya Scindia on Tuesday said dreaming has become a habit of the Congress and the people of Madhya Pradesh will decide in the next 60 days who is nervous in the elections.
The ruling Bharatiya Janata Party (BJP) on Monday released its second list of 39 candidates for the Madhya Pradesh assembly polls due this year-end, fielding seven Lok Sabha members including Union ministers Narendra Singh Tomar, Prahlad Singh Patel and Faggan Singh Kulaste.
It also fielded BJP general secretary Kailash Vijayvargiya.
The election schedule is yet to be announced.
With the second list, the BJP has named its candidates for 78 out of the total 230 assembly seats in MP.
The Congress claims the BJP has fielded its senior leaders because it is scared of defeat.
Asked about it, Scindia told reporters here, The people of the state will decide in the next 60 days who is nervous in the elections. Dreaming has become a habit of the Congress. The prime minister has already giv

Dreaming has become habit of Congress: Jyotiraditya Scindia

Jyotiraditya Scindia

Shah Rukh Khan's Dunki will clash with Prabhas's Salaar this Christmas. SRK's last two movies were blockbusters, and this movie is also expected to do good

metal firms

Valuations, demand uptick hopes favour Indian metal companies

Metal companies see Chinese economy reopening as boost to commodities

Mining & metal companies see reversal of fortune in September quarter

Tata Steel to absorb 7 group companies, simplify holding structure

Metal stocks rally as China considers $220 billion stimulus plan

Investors fear big decline in metal companies' margins and profits

Base metal companies line up Rs 1.14 trillion capex as demand rises

Weak rupee to make imports costly for metal firms, exports may get a push

Two years of Covid: Metals get their shine back as demand fuels rally

Palladium set for best week in 2 years as Russia supply concerns mount

Russia-Ukraine war may throw up export opportunities for Indian metal firms

Metals & mining companies report record earnings in H1 of FY22

Limited supplies and high demand may continue to boost metal stocks

India's metal sector severely hit by Covid-19; to see slow recovery: Report

Better margins for metal firms likely in Q2