IRON ORE COMPANY
MSCI rejig: LIC, Meesho, Coforge set to gain from index inclusion. How much inflows could they attract?
MSCI’s November index rejig will add LIC, Coforge, Meesho and Adani Green to its Standard Index, while removing PI Industries. Nuvama estimates the changes could trigger around $2 billion in passive inflows into Indian equities. Several stocks will also see weight adjustments, while the Smallcap Index will witness fresh additions and exclusions, creating potential stock-specific inflows and outflows.
Tata Steel shares rise 2%. Why brokerages remain bullish; see up to 30% upside potential
Tata Steel shares rise over 2% following strong Q2 FY27 earnings, with net profit increasing 16% year-on-year. Brokerages largely retain Buy ratings, although target prices vary. Nomura cuts its target, while Jefferies remains optimistic and Axis Securities upgrades its rating, citing improving margins and earnings prospects.
India garment makers rethink reliance on US after tariff shock
Many Indian companies are reconfiguring their export destinations, and their exposure to the US, in light of the tariff shock, in a move that is likely to strengthen New Delhi's hand in its trade negotiations with Washington, and potentially reduce India's vulnerability to US pressure over time.
In 1887, Michigan began building a railway bridge that could open in different ways for passing ships; three bridge designs worked together in one crossing
The Sault Ste. Marie International Railroad Bridge, completed in 1887, features a combination of four bridge designs. This structure was upgraded multiple times to accommodate larger ships navigating the Soo Locks, which remain crucial for iron ore transport. It is noteworthy that the bridge has never been widely recognized despite its engineering significance. Engineers added a swing section in 1895 and a vertical lift section by 1959.
Coal India shares fall 3% after Q2 results; Jefferies, Motilal Oswal, others cut target price
Coal India shares fell 3% despite a 57% year-on-year rise in Q2 FY27 net profit to Rs 6,547 crore. Jefferies and JM Financial cut their target prices to Rs 460 and Rs 438, respectively, while Motilal Oswal retained its Buy rating with a Rs 450 target, citing a potential volume recovery.
Metals thrust, strong growth engines power Vedanta's stellar July-September
The metals-to-oil conglomerate's profit in Q2 was boosted by higher base metal prices. Vedanta attributed its robust Q2 show to higher commodity prices and favourable foreign exchange movements, among other things.
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Vedanta Iron and Steel’s loss narrows on year in September quarter
In the September quarter, Vedanta Iron and Steel reported a consolidated loss of Rs 324 crore despite a decrease in expenses, which fell by more than 9% to Rs 3,129 crore due to various operational difficulties. The company produced 532,000 tonnes of steel, reflecting a year-on-year increase of 4%. This showcases a notable enhancement in financial metrics amidst persistent issues in the iron ore sector.
JSW Steel posts three-fold jump in profit, lines up capacity expansion
JSW Steel achieved an impressive three-fold rise in its consolidated net profit for the September quarter, highlighted by a record-breaking 13% increase in sales volumes compared to last year. The company has received approval for ambitious expansion projects, aiming to add 5 million tonnes at the Utkal site in Odisha.
Diversification plan: NMDC scouts for mining assets across four continents
NMDC is actively seeking mining assets worldwide, including critical minerals to support various industries. The company aims to earn 20 percent of revenues from minerals other than iron ore. This expansion aligns with government initiatives to secure raw material supplies and decrease import dependency. NMDC's strategy is expected to enhance its role in India's manufacturing sectors. Industries such as automotive, renewable energy, and electronics will benefit from these efforts.
JSW Steel and Japan's JFE to add 5 MT steel capacity at Odisha JV plant with Rs 7,500 cr investment
JSW Steel and JFE Steel have entered into a mutual agreement to enhance their joint venture steel initiative in Odisha. With a notable investment of Rs 7,500 crore from both parties, this ambitious project targets an increased production capacity of 9.5 million tonnes by FY31. In addition, further investments will support improvements in other steel and mining activities, reinforcing their competitive edge and significantly upgrading their product range.
JSW Steel gets relief as Odisha HC quashes Rs 696 crore demand; sets aside Rs 1,473 crore notice
The Odisha High Court has quashed a Rs 696.32 crore demand against JSW Steel over mineral dispatch shortfalls at its Jajang iron ore block in FY21. It also set aside a separate Rs 1,472.69 crore demand for FY25, directing authorities to reconsider the matter in line with an earlier judgment.
Naveen Jindal weighs bid for EU firm Celsa
Naveen Jindal, chairman of Jindal Steel, is considering a €5-billion bid for European steelmaker Celsa to enhance his operations. The discussions are at a preliminary stage and could attract competition from other bidders. Celsa, headquartered in Barcelona, has a manufacturing capacity of 7.5 million tonnes and is focused on long steel products. The creditors controlling Celsa have invested significantly to stabilize the company's finances after a lengthy restructuring.
ET Prime Special Series: Multibagger or Bankruptcy? Part 79: 5 years changed the size of this auto supplier. Will it pass the quality test?
The most striking number in this story is not a margin or a market-share target. It is a measure of scale. Revenue in the latest quarter was almost the same as full-year sales in FY21 and higher than the entire FY20 top line. It also argues that its current heavy-vehicle exposure is not under an immediate EV threat. For investors, the story is shifting from whether the company can grow to whether the additional capital can generate better returns.
Backward integration, captive power seen aiding profitability of secondary steel players
Secondary steelmakers in India are improving profitability by investing in captive power and backward integration, helping offset volatile raw material and energy costs, according to CRISIL. Operating margins are expected to rise to 6.6% this fiscal, with integrated players earning Rs 1,500-2,000 more EBITDA per tonne than non-integrated peers.
SAIL H1 hot metal output 10.2 MT, up 2% on year
Steel Authority of India Ltd has set a new benchmark with a record hot metal production of 10.2 million tonnes for the period of April to September 2026. The company also achieved significant figures in crude and finished steel production, totaling 9.6 million and 8.39 million tonnes respectively. Notably, high-end steel saw a remarkable production of around 2 million tonnes, while September marked the highest saleable steel sales at 1.
Steel Ministry asks SAIL, NMDC to scout overseas mineral assets for raw material security
The Steel Ministry has instructed state-run steelmakers SAIL and NMDC to explore overseas mineral assets. This effort aims to secure long-term raw material supplies necessary for steel production. Indian steelmakers currently rely heavily on imports for coking coal and limestone, which increases their costs. Diversifying mineral portfolios could also benefit NMDC as it seeks to enhance its revenue streams.
A-One Steels shares list at 14% premium over IPO price on BSE
A-One Steels shares made a strong debut, listing at a premium of up to 14% on the BSE and NSE. The Rs 405 crore IPO was subscribed 12.23 times overall, with the NII portion seeing the highest demand at 25.80 times. The offer was a book-built offering comprising a fresh issue of 87.65 lakh shares worth Rs 355 crore and an offer for sale (OFS) of 12.35 lakh shares aggregating to Rs 50 crore.
Essar-backed Mesabi Metallics to set up $15-billion steel plant in US
Mesabi Metallics will use iron ore for the Iowa plant from its mine in Minnesota, which was recently operationalised. The company has invested nearly $3 billion in this iron ore mine at Nashwauk in the state, which is the first new mine in Minnesota in five decades. This combined $18 billion investment is the largest single-location investment for steel in the country.
From India to Iowa: Ruias return to steel with an ambitious $18 billion US bet
Ruias are planning a new steel venture in Iowa. This project involves a $15 billion steel plant, aiming to produce 10 million tonnes annually. Financing has already been secured for the Minnesota iron-ore mine, which is integral to the operation. The plant is expected to create about 1,750 permanent jobs alongside thousands of construction jobs.
Essar to invest $18 billion in US, build America's largest steel plant in Iowa
Essar Group, through its subsidiary Mesabi Metallics, plans to invest USD 18 billion for a steel plant in Iowa. The facility aims to produce 10 million tonnes of steel annually and will utilize iron ore from Minnesota. It is expected to create 6,000 construction jobs and 2,000 permanent employment opportunities. The investment is part of a broader focus on enhancing domestic manufacturing capabilities in the United States.
A-One Steels IPO Day 3: Issue subscribed 11 times; GMP at 14%. Check key details
A-One Steels IPO has received significant interest from investors, oversubscribing 11.61 times overall. The retail portion was subscribed 1.76 times, indicating strong demand among individual investors. The IPO offers a price band of Rs 385 to Rs 405 per share, with a minimum investment of Rs 14,985. Financial performance showed an 18% increase in total income and a remarkable rise in profit after tax.
Behind bigger price tags hides a fault line in India’s growth story
India’s consumer durables face a third price hike in 2026 as copper, steel, aluminium, resin, logistics and energy costs surge. LG, Daikin, Voltas, Samsung and Godrej are raising appliance prices ahead of Diwali. The pressure exposes India’s dependence on imported components and highlights why deeper localisation, domestic manufacturing and stronger supply chains are critical to containing global cost shocks.
A-One Steels IPO Day 2: Check subscription status, latest GMP, reviews, other key details
The Rs 405 crore public issue is a book-built IPO comprising a fresh issue of 87.65 lakh shares worth Rs 355 crore and an offer for sale (OFS) of 12.35 lakh shares aggregating to Rs 50 crore.
A-One Steels IPO subscribed 55% on Day 1; GMP signals 12% listing premium. Check price band, lot size and key details
A-One Steels IPO opened for subscription on September 24 and received moderate interest from investors. The issue is expected to remain open until September 28, 2026, with shares listing anticipated on October 1, 2026. The company aims to raise Rs 405 crore and plans to allocate proceeds primarily for debt repayment. A-One Steels has reported significant financial growth, including an 18% rise in total income this year.
NMDC shares rally 2% after company sets target to achieve net-zero operational emissions by 2047
NMDC shares rallied up to 2% on Monday to Rs 80.85 after setting a target to achieve net-zero operational emissions by 2047. Covering Scope 1 and Scope 2 emissions, the roadmap spans three phases focusing on renewable energy, fleet electrification, energy efficiency, and low-carbon logistics to reduce operational emissions by 90%.
NMDC looks to hit 60 MT iron ore production mark this fiscal: Chairman
NMDC targets sixty million tonnes iron ore production this fiscal year. The company plans to reach one hundred million tonnes by twenty thirty-one. Environmental clearances are being sought for new iron ore deposits. Commercial thermal coal production will begin in the October-December period. NMDC aims for twenty percent revenue from other minerals by twenty thirty.
NMDC sets Net Zero target for operational emissions by 2047
NMDC plans net zero operational emissions by 2047, focusing on scope-one and scope-two emissions. Key strategies include energy efficiency and renewable energy integration for decarbonisation. The company will progressively implement measures across three distinct phases until 2047. NMDC aims for a minimum ninety percent reduction in operational emissions through its pathway. Remaining emissions will be addressed through offsetting measures as the roadmap progresses.
NMDC recovers 27.29-carat diamond at Panna site, its second-largest yet
NMDC Panna has recovered a significant 27.29-carat gem-quality diamond. This discovery marks the second-largest diamond ever found at the Panna mine. The find follows a 13.16-carat diamond recovered earlier in July. NMDC operates India's only mechanized diamond mine in Panna, Madhya Pradesh. The company is also India's largest iron ore producer.
Take steps to accelerate discovery of new mineral resources, says NITI Aayog
NITI Aayog suggests improving access to geological data and capital for exploration companies. Streamlining approvals and procedures will help reduce project delays significantly. Promoting domestic production of specialized alloys and integrating suppliers is also recommended. Establishing traceable collection systems for batteries and e-waste is crucial. The report highlights India's mineral trade share and key export markets.
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